How to get a pay rise in Australia – jobs with biggest salary increases revealed
Australians wanting a more generous pay rise may have to quit their job or move for a new one, new data shows.
Advertised salaries on the Seek website rose four percent in the year to October.
That was still significantly better than the wage price index of 3.1 percent – itself the best figure since 2013.
Crafts, also known as commerce and services, had the largest annual wage increase at 6.2 percent, ahead of administrative staff at 5.6 percent, architects at 5.5 percent and manufacturing, transportation and logistics staff at 5.4 percent.
Insurance professionals saw an average pay increase of 4.8 percent, while construction workers received 4.7 percent.
Seek senior economist Matt Cowgill said the job market is still tight despite the spike in salary growth earlier this year.
Advertised salaries on the Seek website rose four percent in the year to October. Tradies (pictured in Sydney) had the largest annual wage increase of 6.2 percent
“While the job market is not as robust as it was earlier in 2022, it remains very tight and advertised salary growth remains robust,” he said.
The biggest pay raises
TO TRADE: An increase of 6.2 percent
ADMINISTRATION: An increase of 5.6 percent
ARCHITECTURE: An increase of 5.5 percent
PRODUCTION, TRANSPORT, LOGISTICS: An increase of 5.4 percent
INSURANCE, DEATH: An increase of 4.8 percent
BUILD: an increase of 4.7 percent
“Advertised salary growth has fallen slightly since early 2022, but the strong labor market and strong inflation have pushed advertised salary growth well above pre-Covid levels.”
In Tasmania, advertised wage levels rose by 6.2 percent, ahead of the Northern Territory by 6.1 percent and Queensland’s rise by 5.5 percent.
Mining-rich Western Australia had an above-average increase of 4.5 per cent, but wage increases elsewhere were below average, with advertised salaries in Victoria growing at 3.6 per cent, for NSW and South Australia at 3.5 per cent.
The Australian Capital Territory, home to Canberra civil servants, had by far the lowest pay rise of 1.3 percent as the federal government tries to cut spending.
Government jobs actually suffered a 1.5 percent drop in advertised salaries, albeit from a higher base, the only category to decline.
With inflation at 7.3 percent, the highest point in 32 years, most workers are actually suffering from a reduction in real wages.
In Tasmania (Hobart’s Salamanca Markets, pictured), advertised wages rose 6.2 percent, ahead of the Northern Territory at 6.1 percent and Queensland at 5.5 percent
Mr Cowgill disputed Reserve Bank of Australia Governor Philip Lowe’s suggestion that higher wages could contribute to inflation.
“While advertised salary growth remains solid, it is not keeping pace with the cost of living,” he said.
“It’s not getting any faster either.
“This is bad news for workers in the short term, but it will reassure fiscal and monetary policymakers that we do not see a wage-price spiral that would push inflation further.”
That’s in contrast to Dr Lowe who told a dinner in Melbourne on Tuesday that faster wage growth could exacerbate inflation as Prime Minister Anthony Albanese’s Labor government pushes for negotiations with multiple employers to raise wages.
“At home, we must avoid a price-wage spiral,” he said.
The Governor of the Reserve Bank of Australia this week suggested a ‘price-wage spiral’ could be fueling inflation, citing what happened in the 1970s and early 1980s
Mr Cowgill said wage growth was only strong because they entered a low base in October 2021, during long lockdowns in Sydney and Melbourne.
Public Services Secretary Bill Shorten, who led Labor to two electoral defeats, challenged Dr. Lowe’s suggestion of a wage-price spiral as in the 1970s and early 1980s.
“Real people suffer pain without any wage movement. These wage changes will not lead to double-digit wage inflation,” he told ABC Radio on Wednesday.
“Like, it’s just bullshit. That’s not what’s happening.’