The 2025/2026 Keegan Adams Financial Services Talent and Employment Report found average base salary increases in financial services were just 0.07 per cent above inflation, while finance and insurance recorded the lowest wage growth in 2025. Despite broader wage stagnation, salary bands for specialist superannuation investment roles remain elevated.
The report showed super fund portfolio managers were earning between $220,000 and $350,000, while assistant portfolio managers commanded between $150,000 and $240,000. Senior investment analysts earned between $130,000 and $200,000, with investment analysts on between $100,000 and $140,000.
Investment specialists were paid between $140,000 and $210,000, while ESG analysts earned between $120,000 and $180,000, reflecting sustained demand for governance, investment and sustainability expertise across the sector.
| Portfolio manager | $220-350k | 20-50% |
| Assistant portfolio manager | $150-240k | 15-40% |
| Senior investment analyst | $130-200k | 10-30% |
| Investment analyst | $100-140k | 10-25% |
| Investment specialist | $140-210k | 20-50% |
| ESG analyst | $120-180k | 10-25% |
Source: Keegan Adams, May 2026
When it comes to bonus, portfolio managers could earn between 20-50 per cent of base salary as well as investment specialists. Assistant portfolio managers could earn 15-40 per cent of their base salary while senior investment analysts earnt as much as 30 per cent of their salary in bonus.
At the same time, the report said superannuation funds were experiencing elevated pressure around governance, regulatory compliance and consolidation, leading to stronger demand for experienced risk and compliance professionals.
“Super continues to consolidate with considerable M&A activity, and there is heightened scrutiny around governance controls in the wake of the collapse of Shield and First Guardian Master funds,” the report said.
“This has led to a major boom in hiring for risk and compliance, with more yet to come.”
The report found salaries for senior superannuation executives had surged amid intense competition for experienced leaders, with a record number of fund chiefs earning more than $1 million.
“It’s hard to recruit and even harder to retain as the search for the best leaders is fierce. This means hefty offers and counteroffers, meaning a surge in salaries with a record number of CEOs (18) passing the $1mn mark,” the report said.
Broader workforce sentiment across financial services remained subdued, with job security replacing cost-of-living pressures as workers’ top concern although it did not break this down by sector.
The report found workers expected to stay in their current roles 42 per cent longer than they did in 2023, while more than two-thirds said finding a new job was harder than a year ago.
