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Sales & Business Development Market Trends in the Financial Services Sector for 2021

Sales & Business Development Market Trends in the Financial Services Sector for 2021

Stuart Milson Market Update, Financial Services, Business Development...

Sales and Business Development skills have been in high demand right across the Financial Services sector in Australia.

2020 saw a slowdown across traditional banking sectors such as Insurance and branch sales but it was very busy across Foreign Exchange and CFD’s, Wealth Management, Private Wealth, and the After Pay markets.

Exchange-Traded Funds (ETF’s) continue to disrupt the Wealth Management industry and most ETF providers saw significant growth of their funds under management in 2020.

There is strong demand in the FinTech sector, with a number of well-established companies expanding both field and office-based sales teams to focus on the Enterprise and Corporate markets. These organisations are targeting candidates from the software and finance sectors as they look to build on their experience.

Regionally we are seeing a lot of Tier 2 and specialist banks expanding and increasing headcount of frontline sales positions as they come out of a very quiet 2020.

We are also seeing a lot of sales candidates transition out of the financial services sector and joining the global data and market intelligence organisations that sell into the FS sector. There is a massive demand for Business Development Managers who have experience selling into the banking and capital markets sector.

Due to the ongoing pandemic across the globe, we are also seeing a lot of very senior sales candidates looking to return to Australia from the UK, Hong Kong, and Singapore. These candidates bring a wealth of international experience but are finding it tough to secure roles due to the different salary expectations in Australia and the lack of local contacts.

Overall, the Financial Sales sector is in a strong position with a lot of growth in the market. We are seeing a lot of demand for mid-level candidates, therefore increasing their market value.

Most in Demand Roles:-
• Business Development Manager – Banking and Capital Markets
• Private Wealth Advisors
• FX and CFD brokers
• Relationship Manager - Banking
• Business Development Manager - Lending

To learn more about the Marketing, Communications, and Sales salaries within the Financial Services sector please fill in the below form and download our NEW Financial Services Salary Guide & Market Trends Report Australia 2021.

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