Improving economy to see permanent salaries increase
Although a declining mining sector continues to impact resource-dependent states, the improving local economy will lead to slight increases in salaries in 2015, according to latest figures.
Global Salary Survey, by recruitment firm Robert Walters, found on average across Australia year-on-year permanent salaries are expected to grow by 1.65 per cent in 2015 compared to 2014. To give that figure context, permanent salaries grew by 1 per cent from 2013 to 2014.
"Looking ahead we expect to see salaries increasing slightly as market conditions improve and more professionals look to change roles in an improving economy," said James Nicholson, Robert Walters Managing Director Australia and NZ.
"We anticipate increments of 10-15 per cent for those moving to a new role in high demand areas such as regulatory and compliance, business facing finance staff, sales, and IT roles in financial services.
"Counter-offers will have a further compounding effect if demand outstrips supply.
"Overall, 2015 is likely to be a year of ongoing readjustment to the new industrial landscape in Australia as the country continues its journey towards economic recovery."
Quality candidates in high demand
Nicholson said hiring managers looking for quality candidates in high demand specialties would need to present compelling cases to secure their ideal candidates in 2015.
"Speed and momentum during the interview process, as well as clarity of communication, will be critical," he said.
"Prospective employees continue to seek salary increases when moving roles and will also desire transparency regarding potential career progression, as opportunities have been limited in recent years."
The Robert Walters Global Salary Survey is the most comprehensive of its kind and is based on the analysis of permanent, interim and contract placements covering all 24 countries in which Robert Walters operates.
The sixteenth edition offers an overview of salaries and recruitment trends from 2014, as well as those expected in 2015. The Robert Walters Salary Survey is also available for download on both Apple and Android devices.
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