Macquarie

Financial Context

Illustrative wage differential: if the 1,800+ reported offshore roles were instead employed in Australia at average local rates, the additional cost could be in the order of ~$153M/yr (~4.4% of reported net profit). This is an estimate based on industry averages, not company-specific data.

Would this company be profitable without offshoring?

Financial data: FY2024. Estimate uses avg AU cost of $110,000+/yr (salary only, excluding super, office, recruitment) vs offshore $25,000/yr (salary + on-costs). Actual figures vary by role, seniority, and location.

In Plain English

• In 2023, Macquarie was reported to have 1,800+ offshore contractors and staff.
• This represents ~9.3% when compared to its current workforce of 19,335 (illustrative comparison only — not directly reported by the company).
• 🇵🇭 1,000+ staff reported in Philippines in Call Centre, IT.
• Known outsourcing partners include PwC.

Based on data from public sources at the dates reported. Figures may not reflect current headcount. See sources below for full attribution.

The Story

• 2009-2010Macquarie established its Manila technology office. The entity is formally registered as Macquarie Offshore Services Pty. Ltd. — Philippine Branch, located at Level 29, Tower 1, The Enterprise Center, Makati City. [D&B]
• 2025Over the past 13+ years, the Manila office has become one of Macquarie's key technology hubs. Functions include DevOps engineering, Java development, data engineering, and global service desk management. [Macquarie Careers]
• 2025The Manila team operates as part of a 24/7 global technology delivery model alongside Hong Kong, Sydney, London, and New York. Employee reviews: 4.1/5 stars, 83% would recommend. [Glassdoor]
• 2025Macquarie operates 'Macquarie Global Services Private Limited' in Gurugram and Mumbai, serving as a key pillar for its global banking, asset management, and risk functions. The Indian GCCs use AI and machine learning for risk assessment and robotic process automation (RPA) for back-office operations. [Inductus GCC Report]

All facts sourced from public reporting. No editorial commentary. Click source links to verify.