PROFESSIONALS EXPECTING MORE MONEY IN 2016
Written on the 23 November 2015
THE salary drought for Queensland professionals over the past year could be over, with expectations from almost seven in 10 that their salaries will rise in 2016.
This represents a surge of 17 per cent from last year, according to a survey released today by specialist recruitment firm Robert Walters.
The survey shows that 67 per cent of Queensland professionals are anticipating a salary increase in 2016, a significant gain from last year when only half expected an increase.
The survey also found that 51 per cent of Queensland professionals are planning to change jobs in the next nine to 12 months.
The main reasons for moving on include career progression, according to 28 per cent or respondents, and a pay rise or change in salary package, also 28 per cent.
"Queensland has experienced some volatility in the market of late, so this growing confidence around salary increases doesn't necessarily indicate mounting positivity," says Sinead Hourigan, the Queensland director of Robert Walters.
"We believe this could be an indication that candidates who haven't moved roles recently are gearing up to find another role, and often with a new role comes an expected salary increase.
"With economic uncertainty throughout the state affecting many sectors, it hasn't been a good time to look for new roles as the market hasn't encouraged it.
"Therefore this surge could point to a more positive outlook on new job prospects, and a lot more movement in the market next year."
The report also shows that 41 per cent of Queensland professionals did not receive a salary rise within the last year, while 70 per cent did not receive a bonus in the same period.
"Two in five organisations haven't given salary increases in the past 12 months, which would indicate that more organisations are likely to offer them in the coming 12 months," says Hourigan.
"Two periods without a salary increase is unprecedented in most organisations, particularly considering a key driver for professionals to leave jobs is in search of a salary boost."
The survey showed that Queensland lagged in respect of expectations of salary increases, with the state 4 per cent under the national average of 71 per cent, while NSW led the country with 77 per cent of professionals expecting a salary increase.