HAYS jobs report says banks are fighting over mortgage lenders, mobile lenders and processors
HAYS jobs report says banks are fighting over mortgage lenders, mobile lenders and processors
Mortgage skills are in high demand, a leading recruiter has claimed, with a highly competitive market “vying for the same candidates”.
Mortgage lenders and mobile lenders are in high demand as banks promote existing performers and backfill vacated roles according to the biyearly HAYS Jobs Report.
Jobs are not just being driven by the strong housing market, HAYS regional director Alex Jones told MPA. “This combined with the changes in how commission is calculated, which has resulted in some movement between banks and brokers, means that the need for branch-based lenders and mobile lenders will remain high.”
Banks are also seeking mortgage processors, file assessors and commercial and residential relationship managers; HAYS notes the latter profession, in particular, is a “candidate short market”.
Jones notes that extra mortgage and mobile lender jobs “has a knock on effect with more staff (usually on a temporary basis so companies can flex as the market flexes) needed within lending operations to assist with each home loan application”.
Skills and salary
With the ASIC and Sedgwick Reviews calling up remuneration practices, remuneration is increasingly based around balanced scorecards.
HAYS director Jones noted that “the skills and values professionals need to focus on are customer service, compliance and responsible lending. Being well networked and having quality referral partners is still at the forefront of a successful lender branch based or mobile.”
Whilst HAYS were unable to provide details on salaries in the mortgage lender space, they did note that salaries in financial planning have risen in recent years. However, salaries can vary by as much as $30,000 p.a. between different firms.
Could you be doing better at a bank?
Although brokers traditionally went independent after working for a bank, there’s evidence that some may be better off moving the other way.
An average broker’s gross annual earnings fell from $142,500 in 2016 to $133,407 in 2017, according to the MFAA. However, brokers then have to pay their salaries and those of staff, business costs, premises, aggregator fees, insurance, travel and more.
According to website payscale.com, the median salary for a lending manager stands at $73,161, without the costs experienced by brokers, although they can be as high as $90,227. Bonuses can go up to $29,696.
For the few employed brokers who receive a salary, the average salary amount was approximately $54,000 in 2015, according to ASIC.
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Mortgage skills are in high demand, a leading recruiter has claimed, with a highly competitive market “vying for the same candidates”.
Mortgage lenders and mobile lenders are in high demand as banks promote existing performers and backfill vacated roles according to the biyearly HAYS Jobs Report.
Jobs are not just being driven by the strong housing market, HAYS regional director Alex Jones told MPA. “This combined with the changes in how commission is calculated, which has resulted in some movement between banks and brokers, means that the need for branch-based lenders and mobile lenders will remain high.”
Banks are also seeking mortgage processors, file assessors and commercial and residential relationship managers; HAYS notes the latter profession, in particular, is a “candidate short market”.
Jones notes that extra mortgage and mobile lender jobs “has a knock on effect with more staff (usually on a temporary basis so companies can flex as the market flexes) needed within lending operations to assist with each home loan application”.
Skills and salary
With the ASIC and Sedgwick Reviews calling up remuneration practices, remuneration is increasingly based around balanced scorecards.
HAYS director Jones noted that “the skills and values professionals need to focus on are customer service, compliance and responsible lending. Being well networked and having quality referral partners is still at the forefront of a successful lender branch based or mobile.”
Whilst HAYS were unable to provide details on salaries in the mortgage lender space, they did note that salaries in financial planning have risen in recent years. However, salaries can vary by as much as $30,000 p.a. between different firms.
Could you be doing better at a bank?
Although brokers traditionally went independent after working for a bank, there’s evidence that some may be better off moving the other way.
An average broker’s gross annual earnings fell from $142,500 in 2016 to $133,407 in 2017, according to the MFAA. However, brokers then have to pay their salaries and those of staff, business costs, premises, aggregator fees, insurance, travel and more.
According to website payscale.com, the median salary for a lending manager stands at $73,161, without the costs experienced by brokers, although they can be as high as $90,227. Bonuses can go up to $29,696.
For the few employed brokers who receive a salary, the average salary amount was approximately $54,000 in 2015, according to ASIC.
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