Rocketing demand for internal auditors

Get your kicks from helping organizations manage risk? It’s your lucky day: demand for internal auditors is going through the roof.

ìItís a very buoyant market,î says Gavin Houchell, managing director of Ambition Finance. Companies that were previously prepared to outsource internal auditing functions are now looking to bring them in-house ñ and adding staff as a result.

Ambition estimates salaries for internal auditors have jumped 15% in the past year. People with two to four yearsí experience are now attracting salaries of AU$60,000 to AU$90,000. Older hands with four yearsí experience plus can earn up to AU$120,000.

Rising salaries are being amplified by a lack of supply. ìGraduate intakes weakened in 2001 when the market wasnít so attractive, and that has had a flow-on effectî reflects Houchell. ìSome companies are also being very smart in their retention strategies and thatís having another limiting effect on supply.î

Not everyone agrees, however. Ian Wilson from Boyden Partners tells eFinancialCareers.com.au that companies are not having any difficulties in getting people to contemplate a move, although he admits they’re doing their utmost to keep hold of the best ones.

Retention has become the key, Wilson says. Companies are looking at different ways of achieving it ñ not just salaries, but conditions, incentives and engagement.