Hot 20 Jobs

Sydney Morning Herald

Wednesday August 16, 1995

OBSTETRICS

THERE is a shortage of these specialists and demand is expected to increase. The hours are long and unpredictable and the area is prone to litigation. Childbirth is an emotion-charged event and when parents produce a less than perfect baby they often blame their doctors. Litigation can be a drawn out and stressful process for obstetricians. There are now parts of America where there are no obstetricians because of litigation and parents are finding it increasingly difficult to locate doctors who will deliver their babies. These are trends that have begun to surface in Australia. The specialty does, however, have its upside. Obstetrics is one of the few happy areas of medicine. When babies are healthy and parents are happy it is as rewarding as any job can be. Of all the medical specialties, obstetrics requires the longest training - six years following the basic medical degree. A busy obstetrician can earn up to $250,000 a year.

CHEFS

QUALIFIED chefs are in big demand for several reasons. Many employers were loathe to put on apprentices during the recession, contributing to a current shortfall. New opportunities are being created by the boom in the tourism/hospitality sector. And the shortage is exacerbated by many chefs going overseas once they qualify. Qualifications are gained through a four-year TAFE apprenticeship in association with an employer under the tutelage of a qualified chef. Apprentice wages are low, starting at well below the $20,000 mark. But for those who rise to the top ranks of executive chef, salaries of more than $100,000 are common. Tourism training is undergoing an overhaul and opportunities are emerging to gain chef qualifications outside of the apprentice system, particularly for mature starters. It can be exciting, but very hard work. The low starting salaries can also be discouraging. However, according to David Browne, a Department of Employment, Education and Training industry liaison consultant outposted to the Australian Hotels' Association: "Get yourself qualified as a chef and you can write your own ticket." The qualification is extremely transportable. Major employers are the top clubs, restaurants and hotel chains, and prospects for Australian chefs overseas are good. There are also opportunities for chefs to start restaurants or to enter other upper management areas in the industry by pursuing additional training in areas such as industrial relations, marketing and management.

RADIOTHERAPY

THERE is a shortage of specialists in this area of medicine and the Australian Medical Association expects the demand to grow. Ongoing technological improvements mean that more and more cancers are becoming amenable to radiotherapy. The machines are becoming better and more directed, providing localised therapy with fewer side- affects and greater opportunities for curing patients. It can be a satisfying career working with appreciative patients. The downside is that radiotherapists are constantly dealing with people with advanced cancers who are often going to die. A proportion of the work is merely palliative, shrinking tumours to reduce symptoms in dying patients. Like any medical specialty, training takes many years. It is a great career for women medicos with families because the hours are 9 am-5 pm. Most radiotherapists are in private practice and can make between $250,000 and $500,000 a year.

MINING ENGINEERING

MINING is the nation's biggest single industry with the largest proportion of export revenue. It is highly dependant on engineering skills. According to the Institution of Engineers, Australia, mining engineers in Australia face excellent employment prospects and can expect to be among the highest paid graduates entering the workforce. Australian mining engineers are also in demand overseas.

Opportunities range across the mining chain from leading feasibility studies into the establishment of new mines and associated infrastructure to ore production and mineral extraction. Engineers are now also involved with issues of safety, the environment and the better use and disposal of waste products. Some take on marketing roles and negotiate with potential buyers. Others, once they have gained experience and a broad understanding of the industry, progress to senior management or turn to consulting. Major employers within Australia include BHP, CRA, ICI, Argyle Diamonds, Shell Australia, Pasminco, MIM, Western Mining and CMPS&F. This is still a male-dominated profession but it is attracting an increasing number of women and there are no real gender barriers. Courses in mining engineering are offered through the larger universities.

Salaries start at about $38,000 for graduates. For those who progress up the corporate management ladder the sky can be the limit. Some of the highest paid people in Australia are mining engineers.

PSYCHOLOGY

SOME recent surveys in Europe and the US have placed psychology around the top of hot career lists. Research indicates that rises in demand in the clinical area relate to the demise of the extended family unit. Psychologists are increasingly being called on to offer the advice and support which were once provided by close relatives. As a result, the nature of the profession is changing. Once people only saw psychologists if they had a problem. Now people are seeking them out for general career and family advice before events reach crisis level. Andrew Banks, of Morgan and Banks, believes that a significant demand is emerging in Australia for competent psychologists both in the clinical and industrial/organisation areas. Clincal psychology can be a very stressful, but rewarding and therapeutic career. The right personalist is important. Major employers are in the health sector. Private practice and consultancy are also popular options. Qualifications begin with a basic three-year undergraduate degree with a psychology major in clinical areas. This is followed up by an honours year or masters degree in psychology. Two years of professional practice supervised by a registered psychologist is required before registration can be considered. Salaries start in the high $20,000s. What they rise to varies according to the employer and the levels of responsibility. Generally, however, clinical psychologists have an earning potential of between $60,000 and $90,000 at the top end of the scale. Psychology is increasingly being valued as a business tool. Industrial/organisational practitioners help companies work out what makes people tick and how to make them tick better. They are involved in maximising employee potential and selecting the right people for the right jobs by, for example, focusing on what makes a good sales person or recognising behaviour that would increase productivity. Some companies are adding psychologists to their staff, more are engaging them on a consultancy basis. Qualifications are as for clinical psychologistse, although students specialise in industrial psychology. Most of the good practitioners have a masters degree in the area. Salaries range from the high $20,000s to well over six figures for the top people.

MANAGEMENT ACCOUNTING

COMPUTER technology has freed accountants from the drudgery of the book keeping side of their work over the past 30 years and expanded their opportunities and capabilities for financial analysis and interpretation. In recent years, there has been significant growth in the number of companies, particularly in the services (notably those involved in tourism or information technology) that are taking strategic management advice from accountants. The use of the services of management accountants has also grown in the government sector, with the rise in the demand to justify outputs and spending levels of public funds. This shift means that accountants are now very much a part of management teams and has made the profession a much more exciting option than it once was. It has also expanded opportunities for accountants to cross over into general management and ascend to the top of company hierarchies. Larger companies tend to employ management accountants in-house. Smaller companies favour consultants. The career starting point is an accredited university degree in accounting followed by professional and post-graduate training through programs offered by either the Institute of Chartered Accountants or the Society of Certified Practising Accountants. Salaries start at about $25,000. At the top of the ladder, the chief finance officer in a major Australian publicly listed company can earn a salary package worth more than $300,000. Senior consultants charge from $1,000 to $3,000 a day. Accounting is regarded as a great career for women with families because of opportunities for part-time work. About 50 per cent of graduates are now women.

TELECOMMUNICATIONS ENGINEERING

THIS has become a particularly hot area in Australia since deregulation of the industry. Engineers will be at the forefront of technological advances expected to be forged by fierce competition between telecommunications providers. New companies are emerging in the area at a rapid rate as customer demand surges, but the major employers include Telstra, Optus, AAP Communications, British Telecom, AT&T and PacStar. Engineers in this area are involved in designing communications systems and associated technologies such as fibre optics, satellites, computer software and mobile networks; monitoring or managing the installation, operation and improvements of these technologies and systems; and developing new technologies and assessing and applying technologies from overseas. An electronics engineering degree with scope for specialisation in telecommunications provides a starting point, but the best salaries and career prospects come with a follow-up masters degree or graduate diploma in a specialised area such as mobile networks or management. Salaries start at $36,000 for those with a masters degree and about $29,000 for those without. Ten years' experience takes earnings to $60,000 which moves into six figures for general managers.

INDUSTRIAL RESEARCH

THERE are expected to be huge demands within research and development teams in the private sector for people who have the ability to add value to or build intelligence into various products - that is on the technical side of product development. Particularly promising areas in industrial research include biotechnology (including molecular biology and genetic engineering), chemical engineering and high-tech engineering. Some of the highest paid people in the pharmaceutical area are industrial researchers. According to Mr Andrew Banks, the joint managing director of human resources specialists Morgan & Banks, really talented researchers in the United States and Europe are being chased hard by head-hunters brandishing salaries worth as much as $250,000 a year. A basic science or engineering degree provides a start to a career in this area. It is essential, however, to also to have a marketing or creative bias which allows researchers an understanding of emerging customer needs and how to apply technical capabilities to meet those needs. Industrial research can be an international career as well, the major employers ranging from the global multinationals to start-up venture capital companies. Global companies are increasingly sourcing expertise in Australia. Salaries begin at about $26,000 for graduates. Where salaries rise to from there can fluctuate wildly according to the type of products involved, the individual capabilities and performance and the size of the employer. But there are definite six-figure prospects in this sector for the top performers.

HUMAN RESOURCES

CHANGING labour market and economic trends are forcing a realisation within organisations that getting the people equations right is becoming vital in gaining the competitive edge. Whereas once human resources was seen as an adjunct to management, it is now more centrally placed and highly regarded in many organisations. Demands for human resources experts are growing. Careers can begin at the bottom at the personnel or recruitment officer level and progress with experience in areas much as employee benefits, compensation and industrial relations. The next step is human resources manager which requires responsibilities for developing and delivering tactics for a business to locate, induct, train and appraise employees. At the top are human resources directors who, if they are employed with a substantial organisation, can receive salaries well over $150,000.

Starting salaries vary according to expertise and training, but generally someone with tertiary qualifications can expect around the mid-$20,000 mark.

TOURISM CHIEF EXECUTIVES/HOTEL AND RESTAURANT MANAGERS

MOST of the top managers in tourism have risen through the ranks of the industry. Many have started at the lowest level, adding to on-the-job experience with management training along the way. Stepping stones typically include supervisory roles in a variety of areas from housekeeping and front office to food and beverage and stewarding. Traineeships now cover a wide variety of occupations in the industry and packages can be fitted together to help speed career advancement. For the right person, with the right training, it is possible to rise from the lowest level to middle management in under five years. Wages vary. The bottom rungs can start as low as $18,000. Contracts and salary packages at the top management levels are often worth six figures. The industry is hard work but can be a lot of fun. There are opportunities to meet interesting people and travel. Australian qualifications are recognised widely, particularly in Asia.

MARKETING

ONCE sales and marketing were invariably tied. There is now strong growth in the number of people specialising in marketing, particularly women, and most universities offer it as a major stream within business degrees. Marketing involves skills and techniques to develop the image of an organisation and cultivate and promote its name and products in a favourable way in the minds of consumers. With the economy becoming more competitive and people facing information overload about products and services, marketing is becoming smarter, more sophisticated and in greater demand. Witness the growth in car commercials that tell you not only that you should buy a particular make, but how that car will fit your lifestyle and fulfil all your requirements. A creative personality is a very important key to success in this area as is the requirement to keep abreast of technological and social change. Salaries begin in the high $20Ks for graduates and career progression is clearer and more staged than it is in sales. Marketing assistants rise to product managers, then brand managers and onto marketing manager and marketing director. Top people can attract salaries of about $150,000. Major employment growth is in the areas of information technology and fast-moving consumer goods such as food and disposable items.

FINANCIAL MARKET TRADERS

THIS covers everything from foreign exchange and derivatives to fixed income products (such as bonds). Dealing rooms tend to have two streams. There are the sales or distribution people who talk to customers and help them access global markets and the price makers who read and interpret the markets to work out appropriate prices. Careers in this area will remain positive as the world moves increasingly to a global economy and more and more companies seek to access international money markets. Jobs require a technical ability to understand the area. Basic qualifications include economic or accounting degrees and some quantitative financial background. Entry salaries for both sales people and price makers start at about $35,000 for those with a basic degree and one or two years experience. Salaries on the sales side can rise to around the $150,000 mark. The top salaries for the price makers, however, are all over the place. It is a truly global career, but the biggest hitters overseas are attracting huge salaries. Believe it or not, a small elite group of rarified beings - the biggest hitters on Wall Street - can earn more than $20 million a year. Top operators in Australia generally attract six-figure salaries. Volumes of flow are highest in the American and European time zones but opportunities are on the rise in the Asian time zones.

PROJECT AND INFRASTRUCTURE FINANCING

THIS involves institutions acting as financial advisers and packagers for projects such as the building of highways, dams, power stations and communications lines. Local activity is creating opportunities but the real boom areas for Australians will be in Asia. The World Infrastructure Forum 1994 estimated that around $US2.5 trillion will be needed to be spent on Asian infrastructure projects through to the end of the century for the region to sustain present growth rates. The investment banks employ teams of people with a variety of skills and backgrounds to tender for and run deals in this area. Teams typically include graduates with combined law degrees or people with quantitative backgrounds such as actuaries, mathematicians with strong interests in finance, or taxation experts. At the top end of the career are experienced people who co-ordinate the teams and lead the deals. Starting salaries for graduates joining as team members are high, from $40,000 to $45,000 because employers only take on the top people. For team leaders salaries are well into six figures.

LEARNING SPECIALISTS

ANDREW BANKS, of Morgan & Banks, is convinced that teaching will undergo a revival in the future. Teachers' skills in helping people identify what they have to learn and how to progress through the learning process will be in demand. Mr Banks predicts that teachers who expand on their basic qualifications with studies and expertise in behavioural science, employment competencies and human resources development techniques will become very marketable. Salaries for people with five to 10 years experience range from $50,000 to $70,000. Top trainers and specialists command salaries over $100,000.

FUND MANAGEMENT

WITH the growth in the superannuation industry, linked to government policy, there is a rising demand for high quality people in the area of fund management. In the superannuation area particularly, investments have to be safe with consistently favourable returns. Solid financial research and risk management skills are critical. Graduates with backgrounds in actuaries, commerce, economics or law are recruited as members of fund management teams. Salaries start at $30,000. For those who become fund managers earning potential is in the six-figure range, as high as $250,000 for top performers.

CORPORATE LAW

THERE has been a growing trend among corporations during the past three years to employ in-house lawyers. In terms of supply and demand, this is the most popular option for lawyers that Katherine Sampson, Victorian managing director of Mahlab (a recruitment firm which specialises in lawyers), has seen in 10 years. A growing number of lawyers are finding that being employed within a corporation has attractions over the traditionally rigorous career ascent up a law firm in pursuit of partnership status. It can be rewarding to become close to one employer, operate as part of a business team and contribute to the day-to-day development of an organisation as opposed to sitting in a law firm providing distant advice to a range of clients. It is also getting harder to become a partner in the big law firms. The queues are getting longer and there can be substantial lifestyle trade-offs created by the competition. On the demand side, while companies are still retaining outside legal services they are finding that it is beneficial also to have in-house lawyers close at hand who know more about the business from working within than an outside firm could ever learn. At least three years in a law firm after articles is required. After that, the entry salary with a corporation is about $60,000. The head of a legal firm in a big company can earn as much as $300,000.

BUSINESS AND ORGANISATIONAL CONSULTING

THIS is an emerging and generic career area and is more of an option later in life. A growing number of people are finding that they can take the expertise they have built up in a particular area and market themselves as specialists to a range of organisations. It is an area feeding off the trend to out-sourcing. Employment is mainly on a freelance basis or through retainers with consultancy firms. Consultants require a solid and up-to-date understanding of the marketplace in which they are operating combined with commercial skills. A post-graduate degree in organisational development or an MBA improve opportunities. Consultants are typically working in areas such as environmental engineering, research and development, sales, human resources, psychology, commerce and finance. Clients are small, medium and large firms. One of the attractions of consultants is that they are flexible and objective and can come into an organisation without any internal political baggage. Good consultants can earn about $200,000 a year. Morgan and Banks estimates that about 100,000 people Australia-wide are already working in this way which is a significant number when it is considered that an industry such as tourism/hospitality employs about 900,000.

SALES

LINKED to the growth of the services is a rise in demand for people in sales, particularly in media and telecommunications. Sales is coming to be regarded as a great career option and not simply something that people fall into. An increasingly consumer-oriented and discerning marketplace has pushed up the level of professionalism needed in the area and there is a wide recognition of the skills and disciplines required. A premium is placed on tertiary qualifications of some description although the right personality, presentation and approach are important. Performance based contracts are now almost universal. Entry salaries can start as low as $15,000 but with commissions and incentives it is possible for good people in some areas to earn as much as $50,000 a year at a junior level. For the right person operating in areas with high-value, in-demand products such as finance, information technology, telecommunications and the media, the sky is the limit.

COMPUTER/ANALYST PROGRAMMERS

THERE are across the board demands for people in this area and, for non-specialists, the skills are so often transportable across industry boundaries. Current and emerging hot spots include geographic information systems (which employ mapping, surveying and satellite imagery techniques in demand by mining companies and public utilities), the internet and communications and PC technologies such as local area networks. The basic qualification required is a degree in computer science or information technology. Progression is from programmer to analyst programmer to project leader to project manager to IT manager. Management skills become important at senior levels. Graduates with bachelor degrees start at $26,000-$30,000. Salaries vary according to company size but top-end senior managers command $100,000-$200,000. A project manager with 10-15 years' experience can expect $80,000-$100,000.

WAITERS

THE growth and radical restructuring under way in Australia's tourism/hospitality industry are creating requirements for higher standards across the board and more formal training qualifications. Increasingly, many jobs that people once considered only stop-gap casual appointments while waiting for other options are now regarded as genuine careers or critical stepping stones in a booming industry. Waitering is a good example and although still relatively poorly paid, it does provide a very good avenue for further opportunities in the industry. Senior experienced and highly qualified waiters are in demand. Head waiters in some of the top restaurants can draw reasonable salaries. Skills held in particularly high regard include a la carte and garidon service, which involves cooking at the table. Award salaries peak around the $30,000 mark for waiters in supervisory roles but some top restaurants will pay more for high quality staff. Again, as is the case for the rest of the industry, the real opportunities for high salaries emerge with management roles. Waitering is also regarded as a good launching pad for people to set up their own hospitality businesses.