Tech boom reflected in salary increases for IT professionals

The earning power of technology professionals in Australia continues to increase as demand for skilled talent outstrips supply. 

According to a report by Robert Half, starting salaries in the IT sector are expected to go up by an average of 2.7 per cent in 2017. That's significantly higher than what would be expected for the national average wage growth – which was 1.9 per cent in 2016, based on Australian Bureau of Statistics data. 

Starting salaries in the IT sector are expected to go up by an average of 2.7 per cent in 2017.

Cybersecurity specialists, software developers and BI professionals most in need

The Robert Half report suggests that starting salary pay rises will be highest for cybersecurity specialists, software developers and business intelligence professionals. And, in an industry growing faster than the available talent pool, high-calibre candidates who work in several IT functional areas will also be able to negotiate higher pay levels. 

In terms of location, Melbourne is expected to offer the most competitive year-on-year increase (4.1 per cent on average), followed by Brisbane (3.2 per cent), Sydney (2.2 per cent), and Perth (1.1 per cent).

David Jones, senior managing director at Robert Half Asia Pacific said the technology market continues to thrive.

"As the industry becomes more customer-centric, and concern over persistent cybersecurity threats increases, demand for specialist IT skillsets is rising. Because of demand consistently outweighing supply, top IT talent in many functional areas are able to negotiate higher salaries, and sometimes even above-market averages," said Mr Jones.

Things are certainly looking up for those with certain IT skills.Things are certainly looking up for those with certain IT skills.

"Confidence is returning to the Brisbane region after the resources downturn, which is placing upwards momentum on starting salaries for IT professionals. Demand is also growing for IT professionals in Melbourne and Sydney as companies take a more innovative approach to growth and expansion, placing IT candidates in a good position for salary negotiation."

Mr Jones added that demand for technology professionals in Perth remains high as a result of nationwide IT projects and the positive impact of the mining sector's recovery on the local economy. Across the country, certain IT functions are more in demand than others, he added. 

The potential for top IT candidates to be receiving multiple job offers means that recruiters will need to be on top of their game to successfully manage the hiring process.

Skills shortages in the tech industry are likely to place more pressure on Australian recruiters.

FastTrack helping recruiters find tech talent

Skills shortages in the tech industry are likely to place more pressure on Australian recruitment agencies in the coming years to find suitable candidates. 

FastTrack360, a novel Recruit-Pay-Bill software solution, offers recruiters a unique opportunity to worker smarter and more efficiently. Contact us today to find out learn more about FastTrack360 and how it can help you.

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