A recent survey by recruitment experts, Robert Walters, reveals key trends in the engineering and resources industries across Australia. 

As these industries with sustained talent shortages, the survey results, from over 7,750 white collar professionals, sound the alarm that a large proportion of employees believe their compensation does not match their work or the rising cost of living.

 

Salary Breakdown

The majority of respondents earn within the higher salary bands, with 31.19% earning between $100,000-$150,000 and another 31.19% in the $150,000-$200,000 range. A further 20.18% report incomes of $200,000-$300,000, while a smaller portion earns over $300,000 (4.59%). On the other end of the spectrum, only 0.92% of individuals earn less than $50,000, and 4.59% earn between $50,000-$80,000.

Despite these relatively high salaries, many respondents feel their compensation is not aligned with their true value. Nearly half (47.62%) believe they could earn slightly more for the work they do, and 11.43% feel they could earn significantly more. Only 29.52% consider their pay to be adequate, while 11.43% feel they are being paid generously.

 

Pay and Inflation Concerns

A recurring theme in the survey is the sentiment that wages are not keeping up with inflation. A significant 41.90% of respondents feel their pay could be better, and 36.19% believe it doesn’t keep pace with the increasing cost of living. Only 21.90% report feeling that their salary adequately reflects inflationary pressures.

Furthermore, many professionals feel that salary increases haven’t been enough to meet rising living costs. 68.57% of those surveyed said their recent salary raises were insufficient, while just 22.86% felt that their pay adjustments had kept up with inflation. An additional 8.57% had no relevant experience to comment on the matter.

 

Expectations for Pay Increases

Despite concerns about current compensation, expectations for pay raises remain relatively high. Over half of the respondents (52.94%) expect a salary increase, though they have not received confirmation. A further 11.76% have been told they will receive a raise, while 28.43% do not anticipate an increase. A smaller percentage (6.86%) has been informed that no raise is forthcoming.

Jane Lowney, Senior Director at Robert Walters Queensland said, “Businesses understand the pressing need to raise employee salaries to keep up with the increasing cost of living and retain top talent. However, many are finding it challenging to do so because of financial constraints. With limited resources, it’s a tough balancing act.”

 

Job Mobility and Hiring Trends

Regarding job mobility, a significant portion of respondents is either actively seeking new opportunities or planning to do so soon. While 41.58% are not considering a job change, 19.80% are already looking, and 25.74% plan to search within the next 6-12 months. An additional 12.87% anticipate moving to a new role in the next 3-6 months.

The main reasons people are considering leaving their current jobs include a lack of career progression (29.70%), an unsatisfactory salary (14.85%), and poor leadership (12.87%).

Moreover, 60% of respondents expressed openness to relocating for the right job opportunity within the next year, indicating strong geographical mobility among professionals.

Lowney added, “As the market inevitably improves, employers must move swiftly and strategically to retain their top talent as we know a lot of the workforce are open to changing roles. This includes prioritising retention strategies and employer offerings.”

 

Conclusion

Lowney concluded, “The survey highlights a growing disconnect between salaries and the increasing cost of living, with many professionals expressing dissatisfaction with their current pay. Despite this, there is a notable expectation for salary increases, and job mobility remains high as employees seek better compensation and career opportunities.”

 

Jane Lowney, Senior Director at Robert Walters Brisbane

 

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