Across Sydney’s financial services sector, demand for AI and machine learning engineers is accelerating, but supply hasn’t caught up. As banks and financial institutions race to embed AI capability, talent acquisition leaders are asking the same question: Where do we actually find these engineers?

James Bertollo, Account Manager at our Talent headquarters in Sydney, shares his observations.

The sourcing patterns defining the jobs market right now

1. Upskilling internal teams

“CBA’s AI for All initiative is a strong example of reskilling existing engineers and embedding AI capability at scale,” James explains. “For many organisations, it’s faster to build on the people they already have than to compete for external talent.”

2. Academic and research backgrounds

Banks are also opening new pathways for researchers and Python data scientists. “We’re seeing more flexibility in hiring from universities into engineering roles,” James says. “That shift creates opportunities for PhDs and academics who may never have seen finance as a career option.”

3. Consultancy to in-house

Firms like Deloitte and Accenture were once the go-to for proof-of-concept work. Today, banks are hiring their consultants directly. It’s a clear sign the sector is moving from experimentation to execution,” James notes. “Clients no longer want to rent AI expertise – they want to own it.”

4. Start-up talent

Finally, engineers from AI start-ups are entering financial services. “They bring the innovation and problem-solving mindset enterprises need to accelerate delivery,” says James.

What top AI talent really want

While sourcing channels are broadening, James highlights three consistent factors that make the difference in securing top-tier engineers:

Compensation

“Senior and Principal AI Engineers in Sydney are commanding $1,100-$1,200 per day (contract) or $180k-$200k plus super (permanent),” James shares. “Being equal to, or ideally better than, the market is often the first filter when talent decides where to move.”

Clear initiatives

According to James, “Candidates want clarity on the roadmap and how their role contributes to meaningful delivery. Companies that show this quickly stand out over those still testing the waters.”

Strategic involvement

“The best engineers are often those who worked in AI before it entered the mainstream, and they expect their knowledge to be respected, and their input valued in shaping business strategy.” James says, “Those who feel their expertise will influence direction are more likely to choose you over competitors.”

The bigger picture

For financial services leaders, the race to secure in-house AI capability is only intensifying. Success won’t just come down to competitive salary, it’ll hinge on how clearly organisations can demonstrate the impact of AI initiatives and the strategic role engineers will play in shaping them.

If you’re thinking of building out an AI team or exploring the Sydney market for top engineering talent, our team can help. Get in touch.