Salaries for most back and middle office staff in superannuation funds will only rise in line with inflation in 2014, predicts specialist recruitment firm Robert Walters.
The exceptions are for candidates in the areas of information technology and compliance.
Andrew Hanson, director of financial services, market, sales and legal at Robert Walters, sees indications for a modest uptake in hiring in the next 12 months, but no strong signals of growth.
“We see a bit more positivity from our client base, but firms are very much closely guarding their cost basis in superannuation, just as much as anywhere else. There has not been a huge rise in salaries or a spike in hiring.”
There are small pockets of higher demand for those that could help with Strong Super compliance and with new systems to cope.
“A compliance person who has run a project already or who has started to, might be able to get a decent increase,” said Hanson.
In the absence of above inflation salary rises, candidates are moving for the opportunity of a better work-life balance, training or wherever they see a better potential for progressing their career in the medium term.
The Robert Walters recruitment agency has also reported a spike in demand for accountants with experience of working with small self-administered funds. It foresees a bubble in this sector over the next 18 months.
