Seeking sanctuary in infrastructure

Donít be put off infrastructure finance (IF) by the decline of Babcock & Brown. If you can get a job in this sector youíll be well placed to ride out the recession. But only apply if your deal structuring skills are up to scratch.

The comparatively solid IF employment market is underpinned by continued government spending on desalination plants, toll roads, transport, railways, ports and other domestic infrastructure.

Simon Tobin, national director of financial services at recruiters Michael Page, tells eFinancialCareers that infrastructure finance should stay more resilient than other sectors. ìItís a stable and long-term asset class which makes it attractive to candidates in the current market.î

Hiring is not on a massive scale, but one or two positions are often open at banks, super funds, investors and advisors. Macquarie, AustralianSuper, Plenary Group and PwC are some of the top employers in these respective classes, according to one headhunter who asked not to be named.

Warwick Peel at Morgan Consulting says most banking sector opportunities focus on the funding of infrastructure transactions. ìAt director/associate-director level, firms want people who can structure, negotiate and manage bid proposals. For more junior jobs, quantitative, analytical, modelling and valuation skills are in demand.î

Tobin says analysts, investment managers and capital raisers are the key job functions. These roles demand high-level technical structuring abilities, as well as mathematical and project management skills. ìYou need to be highly numerate and exposed to deal structures.î

A structured property background can help you break into IF, says Peel. ìBut weíre not seeing so many people enter this sector from non-financial backgrounds such as engineering. Six months ago, hiring was more buoyant and employers were looking further afield. Now itís a much more closed market. Clients want a close match – people who understand the mechanics of the deal.î