ICT Salaries Recover Post GFC
ACS 2011 Remuneration Survey: 4% salary increase overall, greatest increases for private sector & insurance industry
August, 2011: The annual survey of Australian Computer Society (ACS) members, the nation’s peak body for Information & Communication Technology (ICT) professionals, revealed today the salaries of ICT professionals, particularly in the private sector, have shown moderate growth over the twelve months to May 2011.
The 2011 annual survey was conducted for the ACS by the Association of Professional Engineers, Scientists and Managers, Australia (APESMA). The 2011 Australian Computer Society Remuneration Survey demonstrated that salaries of the private sector experienced the greatest rate of increase.
Remuneration paid to ICT professionals across the twelve-month period was 4 per cent, up from an annual increase of 3.3 per cent reported a year earlier. ICT professionals employed in the private sector recorded the greatest rate of increase of 4.2 per cent, a substantial increase from the 3 per cent reported a year earlier. 23 per cent of private sector respondents reported receiving no increase in salary over the previous year compared to 45 per cent having reported no increase in the 2010 survey.
ICT professionals employed in the public sector, where collective agreements more commonly determine salaries, reported an average increase of 3.5 per cent, a decrease from the 4.2 per cent increase reported a year earlier. Education sector employees reported an average increase of 4.3 per cent, higher than the 3.1 per cent increase reported a year earlier.
In real terms, the salaries of the majority of ICT professionals have increased marginally ahead of general cost of living increases. The Australian Bureau of Statistics reported an increase in the Consumer Price Index (CPI) of 3.3 per cent over much the same period. The rate of ICT salary increases have recovered in the private and education sectors to be just ahead of general wages growth.
General Management and Chief Information Officer roles continue to be the most lucrative ICT positions, based on the level of total remuneration packages.
Other key findings of the 2011 Remuneration Survey included:
- The Insurance industry was seen to have performed best over the past year, ICT respondents in the industry reporting an average salary increase of 5.7 per cent.
- In the twelve months to the end of February 2011 the Australian Bureau of Statistics reported that annual Australian Average Weekly Earnings increased by 3.9 per cent.
- Salary increase per industry are as follows:
ACS President, Anthony Wong, said that there were several reasons impacting remuneration levels, particularly in the private sector.
“While there are a range of pressures impacting demand for ICT, skills shortages remain the fundamental driver in the Australian economy.”
“When you look at the sectors with the biggest increase in remuneration, it appears that the banking and insurance industries have recovered well from the GFC. Indicators point to further recovery in the prospects of Australian ICT professionals following the 2008 global economic slowdown, and further increases in ICT salary growth can be expected to continue at a moderate pace.
“Infrastructure announcements by the Federal Government concerning the National Broadband Network, and on-going development of electronic systems in the health & security sectors are anticipated to provide medium-term job opportunities tempered by uncertainty concerning global financial and economic conditions”, said Mr Wong.
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Media information
Emily Venardos (02) 9492 1033 or mobile: 0413 743 737
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About the ACS
The ACS (Australian Computer Society) is the recognised professional association for those working in Information and Communications Technology, seeking to raise the standing of ICT professionals and represent their views to government, industry and the community. A member of the Australian Council of Professions, the ACS is the guardian of professional ethics and standards in the ICT sector, committed to ensuring the beneficial use of ICT for all Australians. It provides both members and non-members with opportunities for professional education, networking and certification, as well as enabling them to contribute to the development of their profession. Visit www.acs.org.au for more information.
About ACS Remuneration Survey Report
The Australian Computer Society Remuneration Survey Report has been compiled annually since 1993 by the Association of Professional Engineers, Scientists and Managers, Australia. The 2011 report provides a detailed analysis of the remuneration of nearly 2,000 ICT professionals working in Australia. Factors used for analysis include professional experience, industry, geographic location, responsibility level, job function and qualification.