Information - BDM SALARY REVIEW Q1 2010

OVERVIEW

 

The BDM market has returned to historical levels of demand and supply in line with the general rationalisation of the financial services market.

 

In the lead up to 2009 very high levels of demand created opportunities for junior BDM’s and intermediate BDM’s to progress their careers quite rapidly. For example, BDM’s with 18 months experience were promoted into senior roles, where previously a minimum of 3 years experience may have been necessary.

 

Additionally we witnessed experienced BDM’s with 3 years proven performance promoted to State Manager, and National Key Account manager roles where again previously, 5 years or more experience may have been sought.

 

The contraction in demand for BDM’s has resulted in greater expectations on experience in 2010 than in previous years, and in some cases lower base salaries in line with over supply.

 

Competition at the Senior BDM end of the market remains relatively high, this is seen as the result of an upward shift between 2007-2009 of many intermediate BDM’s into management and key account roles. The slip stream of this effect was never quite fulfilled with the onset of the GFC in 2008/9, and thus we have a minor supply issue. Not withstanding this fact, good senior BDM’s are also always in demand.

 

Late 2009 and the early stages of 2010 show increasing demand as the market gears up for the next run, with most organisations now into post cost cutting consolidation modes. Although the full impact of the rationalisation on salaries will continue well into 2010/11 due to the lag effect, with mean BDM salaries expected to be 10-20% lower over the period.

SALARY REVIEW PDF