Job markets, opportunities and salaries vary from location to location. Todd Allen, Manager of Hays Accountancy & Finance in Perth, examines the commerce and industry job market in Perth, Australia.
Perths commerce and industry job market is strong and healthy, thanks to the rebound of the resources industry and strong annual population growth rates. The City of Perth was the second fastest growing capital city in terms of population in Australia in 2002-03, increasing by 1.5 per cent (source: Australian Bureau of Statistics). This increased population growth has not created a surplus of candidates though; with job activity high thanks to the resources sector, and employers keen to recruit, there are excellent opportunities for candidates.
The resources sector is the predominate industry in Perth and the rebound of the oil and gas industry combined with the strength of the mining industry created a 39.5 per cent increase in employment activity in Perths commerce and industry market over the last financial year. The majority of this growth was in the second half of the year as the sectors improvement reached the job market.
The strongest job opportunities at present are for joint venture accountants in the oil and gas industry, senior and mine accountants in the mining industry, business analysts, and corporate and financial accountants. Qualified accountants at the $60,000 to $80,000 level are also in strong demand due to increased movement, which is expected to continue.
In light of the sector improvement, oil and gas and mining employers have recently begun recruiting roles with an operational focus, most noticeably business analysts, as operations and production in the resources sector increases. In some cases, this has pushed salaries in these areas up by 10 per cent or more.
Candidates with overseas work experience in the United Kingdom and Europe, particularly in corporate accounting or analytical roles, are also attractive to large blue-chip organisations when they return to Perth. Their corporate and head-office experience is highly valued by employers due to the corporate reporting experience they gain.
Over the last six-months there has been a huge increase in the number of commerce and industry employers recruiting on a temporary-to-permanent or fixed-term contract basis. While this enables an employer to effectively assess a candidate before employing them permanently, in an already candidate-tight market it limits the candidate pool solely to those prepared to take on a temporary role without any guarantee of permanent employment.
Demand for accountants and multiple job offers has pushed salaries up.
The 2004 Hays salary survey shows that, from 2003 to 2004, corporate accountant salaries rose from:
$65,000 to $70,000 (for turnover up to $100m)
$75,000 to $85,000 (up to $500m)
$85,000 to $95,000 (over $500m)
Business analyst salaries rose from:
$65,000 to $70,000 (turnover up to $100m)
$75,000 to $80,000 (up to $500m)
$85,000 to $90,000 (over $500m)
For less senior roles, the largest increase was for payroll staff, where the salary for a payroll supervisor/manager of over 500 employees rose from $48,000 in 2003 to $60,000 in 2004. Credit control salaries rose from $36,000 to $41,000.
Salaries for assistant accountants rose from:
$36,000 to $40,000 (for candidates with up to two years experience)
$40,000 to $45,000 (two to four years experience)
$45,000 to $50,000 (over four years experience)
$30,000 to $37,000 (graduates)
Fixed and discretionary bonuses have become more common over recent months as a packaging component, although discretionary bonuses are still viewed by some employees with a level of scepticism.
Hays Accountancy & Finance recently placed an exploration finance advisor for an international oil and gas exploration and production company. The successful candidate was required to have a minimum five years oil and gas experience as a qualified accountant. Key competencies included interpretative and operational capability within business planning and strategy, commercial understanding of the oil and gas business, a customer focus, proven ability to deliver results and governance and business controls. As this is a highly specialist role, the successful candidate received an excellent package.
Over the next 12 months we expect the current levels of employment activity in Western Australia to continue. The current market is excellent for candidates, particularly for those with corporate financial accounting backgrounds or mining, oil and/or gas sector experience.
