new zealand 08/09

finance salary survey

Market Overview
Recruitment activity within the financial services industry has slowed as a consequence of uncertainty in global finance markets. We are seeing an increase in the number of finance candidates looking for opportunities outside financial services and we predict this trend will continue into 2009. Financial services firms will need to respond with talent management programs to retain their best performers. In contrast, the employment outlook for finance candidates in commerce remains strong. The shortage of qualified accountants is critical. A dampening in employment growth will not significantly impact the scope of opportunity for candidates. The insufficient number of students studying accounting and the exodus of qualified accountants to Australia and other global markets are the main contributors to the domestic skills shortage.

cOMMerce & industry

size of company salary
01 year 12 years 25 years

sml/Med $000
3540 3843 4255 4555 5060 5065 6065 6580 N/A 5065 6090 80100 100130 N/A 4760 6085 85110 110+ N/A 6080 80100 90110 7085 80100 85110 100+ 6080 7090 95+ 100+ N/A 80110 100150 150+ 100160

large $000
3842 4048 5055 4560 6070 5565 6585 7090 100120 5075 70100 90120 120140 130+ 6075 7595 100140 130+ 160+ 7090 90110 100120 7090 80100 100120 130+ 6585 85110 110+ 120+ 90130 90130 100160 150+ 180+

accounts clerk, accounts Payable & accounts receivable

assistant accountant
02 years 2 years+

finance

Payroll
Payroll Officer Payroll supervisor Payroll Manager National Payroll Manager

internal audit
13 years 35 years 57 years Manager Head

tax advisory and coMPliance

13 years 35 years 57 years Manager Head

cOMMerce & industry

The recruitment market is robust across the majority of commercial sectors with strongest demand for candidates with 36 years experience. Management and corporate accountants are highly sought after and suitably qualified candidates have multiple opportunities to consider. Chartered firms are battling to retain candidates with two or more years experience because qualified accountants are leaving to work overseas earlier in their career. This is fuelling intense competition amongst the Big 4 and placing newly qualified Chartered Accountants in a strong negotiation position with domestic employers.

Qualified financial & corPorate accountant

35 years 57 years 7 years+ 35 years 57 years 7 years+ Manager

Qualified ManageMent accountant & business analyst

Qualified systeMs accountant

35 years 57 years 7 years+ Manager

senior ManageMent
Group Accountant Finance Manager Financial Controller Company secretary Finance Director/CFO

Please note: 1. These figures are generally the total remuneration (ie. cash, statutory superannuation component and benefits), excluding bonus/incentive schemes. 2. In all categories the CA/CPA qualifications will lead to a premium in salaries earned (for example the salaries at the higher level in each band are likely to be earned). 3. small to medium companies are defined as having a turnover of less than $100m. large companies are defined as having a turnover of more than $100m. 4. Bonus/incentive schemes/stock options are becoming more common through the different levels of management and are not included in these figures. 5. salaries are based on market rates for Auckland.

sAlARy suRvey | finance

financial services
Recruitment activity in the financial services market has been impacted by the global crisis in financial markets. Additional headcount is more difficult to approve and hiring decisions are taking longer as employers become more selective about the industry experience of potential employees. Despite these negative pressures we have not seen the redundancies which occurred in the last downturn and replacement hiring is still occurring in the vast majority of our clients. There is still a requirement for high quality operations, middle and front office candidates and an ongoing shortage of fund accountants and business analysts.

financial services
salary experience
01 year 12 years Minimum 2 years Minimum 3 years Minimum 4 years Minimum 5 years Minimum 6 years 01 year 12 years Minimum 2 years Minimum 3 years Minimum 4 years Minimum 5 years Minimum 6 years 01 year 12 years Minimum 2 years Minimum 3 years Minimum 4 years Minimum 5 years Minimum 6 years 01 year 12 years 24 years 45 years Minimum 5 years Minimum 6 years 01 year 12 years 24 years 45 years Minimum 5 years Minimum 6 years 01 year 12 years 23 years 34 years 45 years Minimum 5 years Minimum 6 years

$000
4045 4555 5060 6075 7090 85120 120+ 4248 4555 5060 6075 7595 90130 120+ 4048 4350 5060 6075 6580 80125 120+ 4050 4555 5575 7590 90130 125+ 4050 5060 6075 7595 90130 125+ 4046 4550 5060 6075 7090 85115 115+

business services
Graduate Intermediate senior (Part Qualified) senior (Qualified) supervisor/Assistant Manager Manager senior Manager

finance

external/internal audit
Graduate Intermediate senior (Part Qualified) senior (Qualified) supervisor/Assistant Manager Manager senior Manager

it audit/ coMPuter assurance

Graduate Consultant senior (Part Qualified) senior (Qualified) supervisor/Assistant Manager Manager senior Manager

tax
Graduate Consultant senior Consultant supervisor/Assistant Manager Manager senior Manager

corPorate finance
Graduate Consultant senior Consultant supervisor/Assistant Manager Manager senior Manager Graduate Intermediate senior (Part Qualified) senior (Qualified) supervisor/Assistant Manager Manager senior Manager

corPorate recovery/ insolvency

Please note: 1. Market rates are becoming much less homogeneous; while we have taken great care, these salary ranges can only be approximate guides. since there are often specific circumstances relating to individual companies, please call us for additional information. 2. These figures are generally the total remuneration (ie. cash, statutory superannuation component and benefits), excluding bonus/incentive schemes. 3. In all categories the CA/CPA qualifications will lead to a premium in salaries earned (for example the salaries at the higher level in each band are likely to be earned). 4. small to medium companies are defined as having a turnover of less than $100m. large companies are defined as having a turnover of more than $100m. 5. Bonus/ incentive schemes/ stock options are becoming more common through the different levels of management and are not included in these figures. 6. salaries are based on market rates for Auckland.

sAlARy suRvey | finance

finance salary survey

new zealand
t +64 9 354 8100 f +64 9 354 8101 e enquiry@michaelpage.co.nz w www.michaelpage.co.nz

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