26 Aug The Australian Salary Rollercoaster: The High Performers
The Australian Salary Rollercoaster: The High Performers
Early in a new financial year is a good time to review what you’ve achieved over the past 12 months. Planning for upcoming reviews, revisiting annual goals, checking in with your savings and finance situation, and crunching numbers on your current salary are all a normal part of planning for the year ahead.
Reviewing your situation might lead you to wonder if the grass could be greener, particularly when it comes to money. Where do you fit in today’s pay scale for your industry? And, importantly, what does the future look like for your profession and expected income?
As recruiters, we are the first to be privy to salary trends in the industries we serve. We often find the scale moves around frequently between roles, industries and the time of the year.
SEEK recently released a report breaking down the high and low dips in salary by industry and role between 2011 and 2019. We’ve pulled out the highlights, and you might be surprised to see the industries that are starting to attract more money.
What are the top three industries for salary increases?
Surprisingly, superannuation took spot number one with an increase in salary of 46 per cent. According to the Association of Superannuation Funds of Australia, superannuation assets in Australia grew to $2.8 trillion by the end of the March 2019 quarter. That growth has been passed on to current workers in the industry with an average full-time wage now sitting at $98,796.
Careers in STEM (science, technology, engineering and mathematics) and health and education also made the top three. Wages for STEM roles increased by 44 per cent and caring roles, such as teaching aides and for special needs employees, increased by 44 per cent.
What other industries have shot up on the pale scale in Australia?
Amongst the top 20 best performing salaries were the following trends:
- Traditionally at the lower end of the scale, caring roles have seen a significant increase in salary across the board. Primary teaching has grown by 36 per cent and aged and disability support has grown by 32 per cent. Secondary teaching has also seen an increase of 29 per cent and child welfare, youth and family services have grown by 28 per cent. Childcare and outside school hours care workers can also celebrate an increase of 26 per cent on top of the average salary for their profession.
- Carpentry has experienced a 29 per cent increase, now sitting at a wage of about $68,076.
- Valuation roles within the real estate and property industry ranked 17th within the country’s top salaries. The industry has had an annual salary increase of 26 per cent. This sees an average take home pay of $98,662 a year.
- With the continuous rise of technology, software engineering has seen a salary growth of 26 per cent. It now sits at a full-time average of $116,547.
- Another significant trend was the boost in income for people within the design and architecture sectors. Web and interaction design roles took home a 38 per cent salary increase over the past seven years and landscape architecture grew by 28 per cent.
What can I do about my salary in 2019?
Salary is a crucial factor when considering any role or opportunity. After all, we have bills to pay, right? The end of another financial year offers a good opportunity to think about whether you deserve that promotion or wage increase that you’ve been waiting for. Or it might be time to make a move to find the salary you believe you deserve.
At Monica Clare Recruitment, we can help find the job that is right for you and opportunities that will help you grow. We hope this breakdown on salary trends helps you set goals that complement your industry’s movements, experience and skillsets.
We are always happy to talk and go over your options. Contact us or pop by our office to see how we can help guide you through the professional rollercoaster.
Source: SEEK Salary Review, annual full-time salary averages by role type, 2011/12-2018/19, SEEK.