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2019 Accounting and Finance Salary Guide in Financial Services

2019 Accounting and Finance Salary Guide in Financial Services

21-01-2019
Submitted by global_admin on Mon, 01/21/2019 - 03:44
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Our 2019 Salary Guide offers key recruitment insights within the Financial Services division of Accounting and Finance, covering permanent salaries and contract rates across the Australian market.

Contents:
Salaries : Financial ReportingManagement Reporting Senior Finance | Internal Audit
Contract Rates : Management ReportingSenior Finance

Commentary on Accounting and Finance in Financial Services Roles and Remuneration in Australia for 2019

 

All figures shown are in Australian Dollar ($). All amounts are base salary excluding super.

Accounting & Finance - Financial Services

Accounting & Finance Salaries in Financial Services (Per Annum)
Financial Reporting
Role Low High Average
 
Financial Accountant 90,000 110,000 100,000
Senior Financial Accountant 110,000 130,000 110,000
Financial Accounting Manager 130,000 150,000 130,000
Senior Financial Accounting Manager 140,000 170,000 150,000
Regulatory Accountant 100,000 110,000 100,000
Senior Regulatory Accountant 120,000 140,000 120,000
Regulatory Accounting Manager 130,000 160,000 130,000
Senior Regulatory Accounting Manager 140,000 170,000 160,000
Product Control 100,000 120,000 110,000
Product Control Manager 120,000 140,000 130,000
Senior Product Control Manager 140,000 170,000 160,000
Head of Product Control 180,000 200,000 200,000
 
 
Management Reporting
Role Low High Average
 
Financial Planning and Analysis Analyst 80,000 110,000 95,000
Financial Planning and Analysis Manager 120,000 140,000 130,000
Financial Planning and Analysis Senior Manager 140,000 170,000 160,000
Head of Financial Planning and Analysis 180,000 250,000 220,000
Finance Business Partner / Decision Support 140,000 180,000 160,000
Senior Finance Business Partner / Decision Support 150,000 220,000 170,000
Head of Finance Business Partnering / Decision Support 180,000 280,000 220,000
 
Senior Finance
Role Low High Average
 
Financial Controller 180,000 220,000 200,000
Finance Director / General Manager of Finance 220,000 300,000 250,000
Chief Financial Officer (SME) 260,000 400,000 300,000
Chief Financial Officer (Divisional) 400,000 650,000 500,000
 
 
Internal Audit
Role Low High Average
 
Internal Auditor 90,000 100,000 90,000
Senior Internal Auditor 100,000 130,000 100,000
Internal Audit Manager 120,000 140,000 120,000
Senior Internal Audit Manager 140,000 150,000 140,000
Head of Internal Audit 220,000 250,000 220,000
 
 
Accounting & Finance Contract Rates in Financial Services (Per Day)
Management Reporting
Role Low High Average
 
Financial Planning and Analysis Analyst 400 550 500
Financial Planning and Analysis Manager 550 650 650
Financial Planning and Analysis Senior Manager 600 800 750
Head of Financial Planning and Analysis 800 1,100 1,000
Finance Business Partner / Decision Support 500 650 650
Senior Finance Business Partner / Decsion Support 650 1,000 900
Head of Finance Business Partnering / Decision Support 900 1,300 1,100
 
 
Senior Finance
Role Low High Average
 
Financial Controller 800 1,000 1,000
Finance Director / General Manager of Finance 900 1,500 1,100
Chief Financial Officer (SME) 1,200 2,000 1,800
Chief Financial Officer (Divisional) 2,000 5,000 4,000
 

Commentary on Accounting and Finance in Financial Services Roles and Remuneration in Australia for 2019

Financial Services has had an incredibly busy year, with the Royal Commission driving strong demand across most role types as internal staff are seconded onto projects and they backfill their roles, or companies hire directly in the market for project work. In addition we have seen very strong demand in financial reporting with IFRS changes driving the need for experienced financial reporting accountants at all levels.

In addition to this a lot of companies have been looking to improve their finance business partnering teams, increasing size, scope and roles within these teams. We have seen an increase in the amount of data specialists within the management reporting teams to cope with the volume and size of the data these teams are having to analyse and interpret. We see all of this continuing into 2019, making for a busy year ahead.

We found the following to be the most popular roles and trends over 2018:

  • Financial Reporting: We have seen demand at all levels, from accountants through to senior management which is being driven by changes to IFRS and the Royal Commission.
  • Regulatory Reporting: We have recorded steady demand within regulatory reporting throughout the year.
  • Finance Business Partner: As systems and processes continue to improve, the business is looking for more insight, analysis, and interpretation of the numbers as to really add value to business outcomes.
  • Project Finance: With several acquisitions, de-mergers and all the Royal Commission changes, we have seen demand for accountants with project and change management experience.

The large financial services companies in Australia will often look to hire at a similar, if not, the same time. This hiring by the big finance teams in the industry drives change across the whole market. In addition we have seen demand from FinTech’s as they either start up or continue to grow. The FinTech businesses normally focus on financial reporting in the early stages of their business, with management reporting and decision support coming at a later stage of maturity.

There is no doubt that the Royal Commission has affected the accounting market within financial services. We have experienced approximately 66% growth in new jobs registered year on year in our final quarter, and a 56% increase in candidates registered with us year on year. This points to a buoyant market and substantially increased demand overall - we have seen competition for good candidates increase with this demand, with companies looking to move their recruitment processes quickly in order to secure the right talent.

Financial services companies have led the way in terms of some of their employee benefits and policies, with examples being in flexibility and paternity leave. However, we find that this depends on the application from the leadership team within their business unit. Policies are the start, however application and engagement is the key to making them effective.

It is likely to be a slow start in January with a lot of people either still on summer/school holidays or using the time to catch up after the Christmas break. We really see the market kick back into life after Australia Day at the end of January. In saying that quarter one has been one of our busiest quarters of the year over the past three years, and we are expecting the same again this year with high demand in the market for experienced financial professionals (as mentioned above).

Whilst it is hard to predict a full year we are optimistic about the year ahead within accounting financial services. We have seen strong demand to close out 2018, and see this continuing in 2019 which is great news for both job seekers and companies looking to hire.

accounting and finance salary guide 2019

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