SEEK data shows how much you could be earning in your job

Updated data has revealed how high your salary should be and the industries you should be considering moving into.

Advertised salaries grew by 4.1 per cent across Australia in the year to July 2022, with roles in design and architecture, and information and communication technology climbing the fastest.

But industries with heavy government involvement such as education, healthcare and community service experienced slower growth in advertised salaries, according to employment marketplace SEEK.

The SEEK advertised salary index measures the growth in advertised salaries for jobs posted on its marketplace.

SEEK said overall there was a significant pick up in late 2021, with steady increases of 0.4 per cent in both June and July this year.

Only South Australia and the ACT recorded “relatively modest” advertised salary growth.

Data also showed average advertised salaries differed massively across the 27 industries included in the index.

The average full-time equivalent advertised salary for roles in information and communication technology was $130,121 in the year to July 2022, while the average in retail and consumer products was at $58,438.

Data shows average advertised salaries differ across the 27 industries included in the index. Picture: Supplied/SEEK

The report noted that in general, employers adjusted the salaries advertised for vacant roles than salaries paid to existing staff.

It was therefore not surprising the SEEK index and the Australian Bureau of Statistics’ wage price index did not align given, they used different methods.

Before the Covid-19 pandemic, the SEEK and ABS data showed similar growth of about 2.2 to 2.3 per cent per year.

SEEK said rapid growth in advertised salaries was now more common than before the pandemic began.

Most job types are experiencing three per cent or greater growth in advertised salaries.

Design and architecture was at 7.3 per cent, while information and communication technology was at 6.2 per cent.

But the report also noted advertised salaries were not growing as rapidly as the Consumer Price Index, which was up 6.1 per cent in the year to the June quarter.

Salaries for roles in design and architecture, and information and communication technology have risen the fastest.

SEEK senior economist Matt Cowgill said it was clear salaries were starting to pick up with the “great job boom”.

“Competition for talent is fierce, with the unemployment rate at a near 50-year low,” he said.

“SEEK’s unique data shows employers are responding to the tight labour market by increasing advertised salaries.

“Unlike previous labour market booms, such as the mining boom, this is not a situation in which some parts of the country pull ahead much more rapidly than the rest.

“The labour market has been almost uniformly strong. The pick-up in advertised salary growth has been broadbased.”

BREAKDOWN ACROSS AUSTRALIA

• Northern Territory – five per cent growth;
• Western Australia – 4.9 per cent growth;
• Tasmania – 4.8 per cent growth;
• Queensland – 4.7 per cent growth;
• Victoria – 3.9 growth;
• NSW – 3.8 growth;
• South Australia – 1.9 per cent growth; and
• ACT – 1.8 per cent growth.

Originally published as SEEK data shows how much you could be earning in your job