Is bad news good for equity strategists?

Fluctuating stockmarkets might be fortuitous equity strategists, who advise traders on the future direction of the market. But their star ñ in terms of jobs and pay ñ hasnít risen yet.

Edmund Gill, executive business director at recruiter Hays, says there is always demand for strategists, and the recent gyrations of global stock markets havenít made much difference. ëEveryoneís looking for direction ñ there is so much hunger for future drivers that these people are always in demand and the global shift to equities from debt magnifies that.í

But Martin Duncan, equity strategist at JP Morgan, tells eFinancialCareers that the demand for strategists hasnít risen noticeably, that banks are not seeking to hire more, but admits that there might be a bit more pressure than normal for performance. ëThe pressure comes from the client and is always there.í

It may be early days, but as yet thereís also been no flood of ads for plum strategist jobs. Gill says strategist salaries have not leapt, but says they vary so enormously it is hard to judge. Strategists are very senior bankers, and get paid very senior banking salaries ñ millions ñ often multiplied by bonuses and incentives.

The problems of the past few weeks may also prove a transitory affair ñ Australiaís stock market has already bounced back, thanks largely to commodities stocks.
Itís perverse that China, which was partially responsible for the market plummeting, is equally responsible for Australiaís resilience, buying commodities without pause even as it tightened its business regime. Duncan says Australiaís coincidental strong reporting season buoyed the market. Thank you, China ñ or not, as far as strategists are concerned.