Continued low salary growth means Construction and IT are the places to be

Date: 
Tuesday, October 13, 2015

AIM’s latest National Salary Survey has revealed that although Australian salaries are still experiencing historically low levels of growth, both the IT industry and the Construction and Engineering industry are still showing signs of improvement. 

These are some of the latest findings from the October update of AIM’s National Salary Survey, six months after the April release which revealed pay growth is at a 12 year low and is projected at 3.1% for the next 12 months.

When compared to all other industries, the Construction and Engineering industry saw the largest increase from the April Release to the October Update in both movement and forecast figures.

 

Movements (last 12 months)

Forecast (next 12 months)

April Release

3.48%

2.95%

October Update

3.77%

3.18%

AIM’s General Manager of Policy & Advocacy, Sam Bell said the movement and forecast figures for the Construction & Engineering industry reflects a broader economic transition away from mining-led investment to increased public and private sector infrastructure spending.

“This is underpinned by a commitment across all levels of government to bring forward spending on vital infrastructure projects,” Mr Bell said

“It’s also been supported by a perfect storm; low interest rates, increasing demand and constrained supply have fuelled property prices, particularly in Sydney, Melbourne and Brisbane which have seen rapid private sector investment in the construction of commercial and residential high rise buildings.

“Because of this, we’re seeing a high demand in a number of civil engineering positions over the past 12 months, most pointedly demonstrated by the Average Total Salary for a Chief Engineering Executive (Civil) which is up by 6.3 percent and a Senior Professional Engineer Level 4 (Civil) up by seven percent.”

The October update of the National Salary Survey also shows the Electronics and IT industry has the strongest forecasted salary growth.

 

Movements (last 12 months)

Forecast (next 12 months)

April Release

4.34%

3.95%

October Update

3.88%

3.89%

“Positions in the IT job family are in demand because businesses are investing more in technology to gain a competitive advantage in the market,” Mr Bell said

“From the April release we found there is a high demand for IT Executives that have the ability to lead a team coupled with technical knowhow as the Average Total Salary change over 12 months for a Chief Information Officer was 6.2 percent. 

“There’s also ever-increasing demand for positions with web development skills as more organisations realise the need to have an online footprint.  Web Developer and Web Designer positions increased by 8.2 percent and 7.0 percent respectively.” 

Where are the jobs of future? These results give us an insight.

Click here to find out more about the Survey or to order the updated 2015 National Salary Survey, which will be released on Tuesday October 13..

About the AIM National Salary Survey

Now in its 51st year of publication the AIM National Salary Survey is the oldest and one of the largest and most comprehensive surveys of its type in Australia.  The survey is based on data from 25,000 employees, covering 282 positions, across 18 industry groups.