IMC Trading paying Australian uni graduates $200k

They’re just a year out of uni but these new entrants into the workforce are making more than most Australians ever will in a year.

They’re just a year out of uni but these new entrants into the workforce are making more than most Australians ever will in their lifetime.

A lucky group of 40 Australians have just left university to take on roles that will net them $200,000 as a starting salary.

Global financial firm IMC Trading, which has headquarters in Sydney as well as overseas, is paying its first-year Australian graduates a $125,000 base wage as well as a $25,000 sign-on package and a $50,000 bonus if they make it past probation.

It’s more money than most Australians will ever make in a year.

Data from the ABS from last year found that the average personal income for full-time workers before tax was $92,029. The median came in at $69,924 for full, part-time and casual workers.

IMC, which employs 280 people in its Sydney office, also gives employees other perks including free cooked breakfasts, lunches (and even a buffet lunch once a month) and dinners and a free on-site barista as well as complimentary sports classes and sports teams.

IMC Trading is paying uni graduates $200,000 in their first year of work and has a competition with a $36,000 prize.

IMC is highlighting its eye-watering salary and its other perks after launching an online competition which will cede the winner a $36,000 holiday at an undisclosed island getaway location.

University students are being encouraged to participate in the competition, alongside gamers and people already working in the industry, where they will engage in a simulation of trading. The winner will also automatically be offered a graduate job for the next intake.

Matt Benney, IMC’s acting Managing Director of APAC, said the competition “was created to help us reach the best talent in the world”.

Last year, a report came out that found IMC’s rivals were also paying whopping salaries to attract highly sought after graduates.

Fellow trading firm Jane Street reportedly pays $350,000 while Amsterdam-based trading platform Optiver shells out $250,000 to new starters.

Full-time roles at Optiver include a gym membership, the ability to get breakfast, lunch and coffee from the in-house barista, a work from home allowance, an annual trip and the use of in-house chair massages.

The financial firm is paying more money than the average Australian makes for graduates fresh out of uni.

IMC is the latest company to try to lure talent with massive job perks amid a skills shortage across Australia.

According to an industry survey by KPMG, attracting and retaining talent will be the most significant issue worrying senior Australian executives this year, with 77 per cent of industry leaders ranking it above other concerns like cyber risks, digital transformation, regulation and flexible workplaces.

In 2022, financial technology company Iress introduced more leave for staff, who will be able to take six long weekends every year, with no impact on their current annual leave balance or pay, to retain workers.

Meanwhile, the $56 billion Aussie design company Canva introduced a vibe and thrive allowance for all workers, which can be spent on everything from gym memberships, home office set ups, social celebrations, wellbeing and education.

In late 2021, Victorian Only Hospitality Group took an extraordinary step as the industry faced a crippling skills shortage. Desperate for workers, the conglomerate offered chefs a year’s free accommodation in a staff house located opposite the beach at Rosebud on the Mornington Peninsula, with an $85,000 annual wage to sweeten the deal.

In Sydney, McCabes Lawyers provides free breakfast on Fridays, while Newcastle dentist group, The Smile Factory, offers staff gym memberships as an extra perk.

In Queensland, a large-scale employer, Sharpe Engineering, has introduced on-demand pay – offering workers immediate pay for their work - to retain workers.