Salaries stagnant in financial services
Financial services was one of only a handful of industries to experience no salary growth last year, a report shows.
However, it was a different story for the insurance and superannuation sector, which topped Seek’s annual salary improvement table.
Insurance and superannuation experienced salary jumps of 6 per cent year on year, to go from an average $74,927 to $79,384. It was only matched by the sport and recreation sector.
On the other end of the table, just 9 per cent of industries across Australia experienced no salary growth, including financial services.
Seek’s HR manager Rebecca Supierz said employees looking to increase their earnings in 2014 should invest in skill development.
“In the current economy, employers are seeking skilled, efficient and experienced workers who can quickly and effectively contribute to the organisation’s bottom line,” she said.
The research was based on surveys of more than 1000 working Australians.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
