Salary Survey - What are you worth?

[danielz_23]

Topical

EMPLOYERS unwilling to give staff regular salary increases risk pushing them out the door, a survey has found.

Human resources firm Chandler Macleod Professional Recruitment today released a survey of 350 professionals, which showed that only 55 per cent of them had been given a pay rise in the past 12 months, despite the so-called "skills shortage".

And 40 per cent of those who received an upgrade only did so after prompting their boss.

Staff ready to walk

With 90 per cent of respondents saying salary levels and salary increases were a key factor in sticking with a company, the survey finding should be a warning to employers that professionals may look elsewhere to find a better package, Chandler Macleod executive general manager Luke Henningsen said.

"It's pretty clear that for Australian professionals money still talks, and employers who are not prepared to regularly adjust financial compensation in line with the general market will face unwanted loss of staff," Mr Henningsen said.

"Employers who sit back and wait for employees to come with salary requests are simply being complacent.

"Increasingly in this market, employees are testing their value with other potential employers, and showing a willingness to walk from their current employer if their requests are not considered seriously."

Opportunities abound

With Australia witnessing the tightest labour market in 33 years, employers would have to be proactive to retain staff, Mr Henningsen said.

"There is no shortage of opportunities across most professional sectors," he said.

"To retain their best staff in this market, employers will need to be more proactive in managing salary expectations and their reward systems."

It appears promotion is less of a problem for professionals, however, particularly those in the 26 to 34-year-old bracket.

The Chandler Macleod study found 24 per cent of the professionals surveyed had received a promotion in the past year, with flatter organisational structures a major factor.

Corporate climbing

And as a result of the skills shortage, workers aged 26 to 34 were climbing the corporate ladder rapidly.

"Increasingly, employers are offering employees positions above their skill levels to fill an organisational gap," Mr Henningsen said.

"As a result, many employees need to learn in two years what might previously have taken four years.

"In the years ahead, I think this trend will intensify and we will see more young people running Australia's key industries as the baby boomers retire, and Generation X starts thinking about retiring"

 

[cleveland]

The company i now work for give you yearly salary rises of about $1.5-$2.5k depending on performance. I have been unhappy with my salary for some time even though i do get paid more than most that are at the same level as me. But im still not happy and believe im worth more. So i made some inquirys with another company. They took me in with open arms. Got a much fatter salary and yearly bonus. Plus im up for a salary rise this year aswell!!! I start my new job next week

I will give this advice, if your not happy with your salary or job in general look elsewhere and you might be surprised in what you find.

 

[danielz_23]

The company i now work for give you yearly salary rises of about $1.5-$2.5k depending on performance. I have been unhappy with my salary for some time even though i do get paid more than most that are at the same level as me. But im still not happy and believe im worth more. So i made some inquirys with another company. They took me in with open arms. Got a much fatter salary and yearly bonus. Plus im up for a salary rise this year aswell!!! I start my new job next week

I will give this advice, if your not happy with your salary or job in general look elsewhere and you might be surprised in what you find.

Yeah it seems to be the best way to go. I think what holds a lot of people back is the general security of staying in the one job... which is understandible.

But if you have reasonable experience and/or qualifications I find it really hard to believe that it would be that hard to find work... would all depend on how specific and picky you are with what you want.

But employers are always looking to squeze an extra buck, why shouldnt the employees

 

[orks]

18 months ago, I was working as a "senior" accountant at a 2nd tier accounting firm, 2 yrs experience in public practice, 3 years as a financial accountant in commerce, degree qualified but no CPA, and was earning the princeley sum of $45k pa including super (that was after my annual pay review, so wasn't going to rise for another 12 months...) - Note this was in Adelaide which generally has lower wages than Melb and Syd. I tossed in public practice for a Management Accountant job at a credit union, package of $54k, went up to $63k after 12 months. This was pretty good, but after 16 months or so, I was tiring of preparing monthly management accounts, decided to start my CPA, move to Sydney, and recently got a job as a Business Analyst at an Australian icon Superannuation/Wealth Management company. Was hoping for $65-$70k plus super, so imagine my surprise when they offered me $75k plus 10.5% super, and 10-15% bonus which I've been led to believe most staff get!

So basically since leaving public practice 18 months ago, my salary has gone from $45k package to $86k base package, plus potentially another $8-10k on top of that as bonus.

So I can certainly recommend getting into the Financial Services industry, and at least start your CPA/CA if your in the accounting/finance industry, as many jobs simply ask that you are "currently studying", that could mean you are enrolled in the 1st subject, but at least you've started.

I'm paying maybe an extra $60 per week in rent in Sydney, and it's a bit of a pain in the @rse using public transport everywhere, but overall am pretty happy with how things have turned out.

Wouldn't go back and work for an accounting firm in a million years.

 

[Betfair Pro Punter]

i was working up in the mines in WA not so long ago.

I must admit being relatively new to the mining industry its a lot of physical hard work at first. But the shift rates can range from $300-$850 for a days work. Considering most work on the 2:1 FIFO , being new I was fairly happy with my pay packet of 2.5k a week. Jumbo operators from what I heard can earn up to 5-6k a week. Thats not a bad week's wages to be honest.

the only disadvantage about the mines is the time spent away from your family. The work is not too bad and the people out there work real hard.

 

[danielz_23]

i was working up in the mines in WA not so long ago.

I must admit being relatively new to the mining industry its a lot of physical hard work at first. But the shift rates can range from $300-$850 for a days work. Considering most work on the 2:1 FIFO , being new I was fairly happy with my pay packet of 2.5k a week. Jumbo operators from what I heard can earn up to 5-6k a week. Thats not a bad week's wages to be honest.

the only disadvantage about the mines is the time spent away from your family. The work is not too bad and the people out there work real hard.

I think anyone looking to get ahead have it made for them in WA. Its hard to turn your back on... if it is as good as it sounds, unfortunately I'm not a tradie... no doubt there are professional jobs but they probably arent pulling the same money it would seem these days!!

To above message accounting firms definately arent the way to go... takes a lot more to reach the same financial level of management roles where you can have the money thrown at you (so I hear)

 

[Team Mo']

My uncle was an accountant in australia but then got sent to scotland because he got payed more there. He got a BMW 5 series and a 3 million dollar (AUS) house. Since then he has bought his own 3 storey house (about 3 mill as well) and has gotten two new flash cars. No joke..all the money is overseas

 

[1jasonoz]

I think anyone looking to get ahead have it made for them in WA. Its hard to turn your back on... if it is as good as it sounds, unfortunately I'm not a tradie... no doubt there are professional jobs but they probably arent pulling the same money it would seem these days!!

To above message accounting firms definately arent the way to go... takes a lot more to reach the same financial level of management roles where you can have the money thrown at you (so I hear)

I've been working in the resource industry for 13+ years. Ive very briefly worked in a mine site; Robe River in early 1994 but for the rest of the time offshore in the oil and gas industry.

Starting wage is about $100,000 per year with equal time, 5 weeks on 5 off, or 4 on 4 off, or in my case better than equal time at home.

Not all jobs are for tradies they have basic utility jobs, cleaners washing dishe's, making beds, assisting with general house keeping starting at $100,000.

Once you in the industry you can then get a name for yourself and move to a better position.

 

[Deej]

So many people earning good money these days, which is why the property i like has gone from 920k 2 years ago to 1.3mill now. I bought a place 18mths ago for 570, and just got offered 800k for it. Unbelievable times at the moment.

 

[daddy_4_eyes]

I've been working in the resource industry for 13+ years. Ive very briefly worked in a mine site; Robe River in early 1994 but for the rest of the time offshore in the oil and gas industry.

Starting wage is about $100,000 per year with equal time, 5 weeks on 5 off, or 4 on 4 off, or in my case better than equal time at home.

Not all jobs are for tradies they have basic utility jobs, cleaners washing dishe's, making beds, assisting with general house keeping starting at $100,000.

Once you in the industry you can then get a name for yourself and move to a better position.

How would you go about getting into the industry?

I have often considered the worth of chucking in my current job (finance) for one of those high paying high risk jobs.

 

[1jasonoz]

How would you go about getting into the industry?

I have often considered the worth of chucking in my current job (finance) for one of those high paying high risk jobs.

Before you could even get looked at you would have to do course's off your own back to market yourself to the company. No company will bring in a new entrant with no experience and then spend 1000's training them if they can't handle the job/working away.

To work offshore as a start you would need the following tickets for an entry level position;

Advanced First Aid;
HEUT (Helicopter underwater escape training) about $1,500;
Offshore firefighting about $2,000

Having the above tickets would get your head above the pack when it come's to the company looking at employing new entrants. Having a mechanical trade is also a big bonus aswell.

The above ticket's however will not guarentee you a job.

I did a refresher HUET course last year and there was 16 people in the class; 2 of us had been offshore for years and the other 14 had never been offshore but where spending their money in the hope of getting a job.

Once your in the industry and have the experiance of working/living offshore then you can be chased big time by companies.

 

[bullish23]

I think anyone looking to get ahead have it made for them in WA. Its hard to turn your back on... if it is as good as it sounds, unfortunately I'm not a tradie... no doubt there are professional jobs but they probably arent pulling the same money it would seem these days!!

To above message accounting firms definately arent the way to go... takes a lot more to reach the same financial level of management roles where you can have the money thrown at you (so I hear)

Hi Mate,

I was reading one of your earlier threads, as a CA in london a bit of advice - Finish your CA before you travel o/s. You will earn so much more cash

 

[danielz_23]

Hi Mate,

I was reading one of your earlier threads, as a CA in london a bit of advice - Finish your CA before you travel o/s. You will earn so much more cash

Contrary to the theme of this thread, money isnt a great concern of mine travelling o/s... I just want to try something different... although it could build my career it doesnt have to.

The plus will be that I will be qualified when I get back so then I can land a nice job at that point... or thats the plan at least