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Wage bills rising as lowest paid play catch-up

Wage bills rising as lowest paid play catch-up

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New data has revealed the country’s highest and lowest-paid industries – and it is those employers with the lowest wage bills that are among those facing the fastest growth.

In 2018, five sectors have average wages above the $100,000 mark, according to online jobs board Seek – up from four in 2013.

The mining, resources and energy sector retains its title as having Australia’s highest-paid employees, with an average annual salary of $116,108. In fact, the industry included 13 of the top 20 highest-paying jobs of any sector.

This was followed by consulting and strategy ($110,045), construction ($109,325) and engineering ($105,810).

However, these four were among only six sectors to see wages fall over the last five years.

Unsurprisingly, the end of the mining boom saw that sector post the biggest fall in wages, down a hefty 13.96 per cent. Engineering – exposed to the mining sector – saw wages slide by 6.91 per cent.

Construction and consulting posted only modest declines of 1.77 per cent and 0.35 per cent, respectively.

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They were joined by minor falls in the HR and recruitment (down 0.68 per cent) and science and technology (off by 0.94 per cent).

At the other end of the spectrum, farming, animals and conservation has the lowest average salary at $74,933, while real estate and property wages are only slightly higher at $75,100.

Yet these sectors saw among the strongest rates of wage growth, up 10.84 per cent and 13.60 per cent respectively.

Only education and training (up 19.15 per cent) and design and architecture (an increase of 15.78 per cent) saw faster rates of growth.

The full table is available below.

Despite the figures, Seek ANZ managing director Kendra Banks said that money appears to talk loudest within the ICT sector.

“What we are seeing is that candidates in information and communication technology are more motivated by salary and compensation than those in any other industry,” she said.

“Other factors that are of importance when considering roles within ICT are work-life balance and career development opportunities. We expect to see salaries for ICT roles continue to strengthen across every sector in the coming years.”

Five-year salary movements



Source: Seek

 

Wage bills rising as lowest paid play catch-up
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