A new salary benchmarking report for 2020 from Michael Page has revealed what various finance professionals in Australia can expect to be paid, including distribution leads and investment directors.
According to the report, legal, risk and compliance professionals will be in high demand next year, particularly among private equity and global investment companies.
Investment analyst and merger and acquisition skill sets were also identified as being in high demand across private equity, funds management and investment banking.
Michael Page estimates small and mid-cap boutiques will be some of the most sought after workplaces next year, along with investment banks.
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When finance professionals are switching between jobs within similar industries, Michael Page found they expect salary increases of between 10-15%.
On salaries, the median business development manager or senior relationship manager can expect to be paid $160,000.
The median head of distribution in financial services can expect $265,000.
Investment directors are on a median salary of $205,000.
In equity research, analyst pay is heavily dependent on experience. Those with one to three years' experience can expect $90,000 while those with 10 years plus experience are paid a median of $225,000.
The same is true for quantitative analysts who can expect to begin their career earning around $95,000 and move up to $240,000 with a decade of experience.
Portfolio managers too can expect their pay packet to vary with experience.
The median multi-manager portfolio manager with one to three years' experience earns $120,000 but with 10 years plus experience that goes up to $250,000.
In private equity small/mid-cap funds investment directors were found to earn $265,000 while in large-cap funds they earn $300,000.
Financial services is one of the most sought after industries for digital, technology and legal professionals to work in, the report states.