No big salary bumps on the horizon: Hays
Increasing job opportunities in the financial services sector are failing to deliver salary increases, a leading recruitment firm reveals.
Data from the 2015 Hays Salary Guide: Salary and Recruitment Trends survey, found that jobs growth in the accounting and financial services sector had yet to see salaries rise.
"Australia's accounting and finance market returned to growth in the first half of 2015 with demand across most sectors and industries increasing year-on-year," Hays reported.
"The growing economic confidence reported by most states and territories is becoming more obvious in the jobs market with the best candidates interviewing for several roles, receiving multiple offers, and also getting counter offers from current employers.
"[Yet] most organisations trying to recruit in high demand areas are still doing so without changing their salary offering."
The survey found that almost half of Australian financial services employers provided a salary increase of less than three per cent in the last financial year, with just one per cent increasing their employees' pay by more than 10 per cent.
While 11 per cent of employers in the sector did not increase salaries in their last review.
The report forecast that 57 per cent of employers will provide salary increases of less than three per cent in in their next round of salary reviews, with just five per cent planning to increase by six per cent or more.
AUTHOR
Nicholas O'Donoghue
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