a 2008 survey by Australian site 'Whirlpool', Finance and I.T specialists
found that those people who worked in a similar role but for a smaller
company often received a higher salary. The rationale behind this
was that a higher salary is required by smaller companies, as the
individual assumes greater responsibilities and available resources/personnel
are limited in comparison to larger companies. In addition to this,
career progression is limited as there isn't as much room for growth
within a small company. Finally, there is the notion that smaller
companies are willing to pay more to keep you as the scope of the
individual's role can be much greater and less easy to replicate.
other reports however, the finding above appears to be the exception
rather than the rule, as the bigger the company, the bigger the
Peter Day's BBC News World Edition piece, 'Get rid of the Hierarchies',
it is argued that a higher salary is almost always necessary as
it can be a key driver in attracting and retaining employees to
one large organisation over another, where employees can be seen
as 'just a number'. And of course, there is also the simple notion
that the bigger the company, the more money there is available to
data collected in the first 6 months of SMF Recruitment's 'Compare
your Salary' portal, here is a glance at just how
big (or small!) the gap is between large corporations and smaller
businesses within the banking and finance sector. Job roles highlighted
in red indicate when the median salary is higher at a large business
compared to small or medium size businesses.
Survey Respondents so far: 401.
here to check the updated salary figures on the SMF
majority of Banking and Finance roles appaer to receive higher salaries
at large businesses. However, there were some notable exceptions
to this rule with Analysts, Funds Management, Managers, Mortgages/Lending,
Stockbroking and Superannuation employees earning more at small
and medium businesses.
based on median total salary package, inclusive of 9% superannuation,
exclusive of non-cash benefits, on permanent/full time employment.
Figures are in Australian dollars and are correct as at 1st March