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When it comes to finding a new job or securing a promotion, most of us want the same thing: a salary increase. But if you’ve been in the same role for some time or are shifting your career focus, you might not have a clear idea of how much you should be getting paid.
We’ve created a quick guide with the average annual salary in Australia across key private sector industries so that you know where you stand. Interestingly with inflation as high as it has been in decades (and rapidly rising), salaries have not kept up. The Australian Bureau of Statistics shared that wages and salaries rose 2.7% at the end of 2023.
The salary averages below are calculated using job titles from Michael Page placements and advertised roles in the last 12 months, so you can be sure that the results are relevant and current. Please keep in mind these average Australian salary figures are for full time workers and they can also vary depending on what state you live in (the median salary is typically higher in New South Wales and Victoria).
If you're currently at below the average salary in Australia for your role, why not browse open job opportunities and apply for your next role?
Thanks to the strong demand for digital skills in many industries, digital employees can receive a salary increase of between 11% and 15% when changing jobs – making it the top industry for pay rises alongside the legal sector.
At the junior end of the scale, workers in roles like digital marketing coordinator, social media specialist, and content producer earn an average of approximately $50,000 to $70,000 a year.
In the mid-tier range, content managers, digital marketing managers, and account managers earn an average of around $75,000 to $100,000 a year. And, at the top end, senior digital professionals such as heads of content, heads of e-commerce, and heads of search earn between $150,000 and $250,000.
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Although the average pay rise when changing jobs is a modest 0-5% for engineering and manufacturing employees, there is plenty of room for salary increases as workers move up the seniority ladder.
Junior graduate equipment engineers, for example, earn an average of $65,000 a year, while more experienced quality managers earn around $130,000 a year and operations managers earn approximately $160,000 a year. Senior professionals such as engineering managers and operations directors earn around $175,000 and $240,000, respectively.
As engineering and manufacturing is such a broad area, there is also significant variation in salaries based on the area of focus. The top-paying roles tend to be within the oil and gas, and utilities sectors, while salaries in equipment and packaging are typically moderately lower.
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Finance employees moving to new jobs can receive a salary increase of between 6% and 10% whether they work for a financial services company or have a finance role at a company in any sector.
Graduate finance professionals in any sector earn an average of between $65,000 and $70,000 a year, while junior roles vary between around $55,000 and $62,000.
Mid-level managers such as corporate finance managers, payroll managers, and banking and financial services managers make approximately $105,000 to $155,000 a year. The most senior roles (such as CFOs, finance directors, and heads of finance) earn around $250,000 to $400,000 depending on the area of specialization and organizational size.
As you might expect, there's a significant difference in wages between entry-level retail workers and management/executive-level employees. Assistant and junior buyers earn around $55,000 a year, while those in management positions such as store manager earn between $65,000 and $110,000 a year (with higher salaries tending to be in the large format retail sector).
At the executive level, the average salary jump up to between $200,000 and $550,000, depending on the focus area and level of experience. The top-paid retail professionals are managing directors and CEOs in the non-food sector with over seven years' experience, who earn an average of $550,000 a year.
The starting salaries for Technology employees tend to be higher than the majority of other sectors (around the $75,000 mark) and increase accordingly with seniority.
The size of the company also has an impact on salary benchmarks in the technology/IT sector. For example, a project manager at a small company can earn $135,000 a year, while the same position at a large company typically pays $170,000. This trend of higher salaries at larger companies is common in many areas of tech, including information architecture, consulting, project services, applications, software development, testing, and infrastructure.
Do you work in a different industry or want to see more specific salaries for jobs in your sector? Use our salary comparison tool to compare salaries in your industry and see if it’s time to kick-start your next salary negotiation process.
If you're looking for additional resources, the Fair Work Commission is Australia’s workplace relations tribunal that helps to resolve conflicts between employers and employees and has helpful resources around salary, minimum wage and working conditions.
Further reading: Average Weekly Earnings information: Australian Bureau of Statistics
Skilled and experienced workers continue to be in high demand. Investing in continuous learning and professional development is essential for salary increases and bonuses. Take charge of your continued education and take advantage of training programs, workshops, webinars, and online courses relevant to your field or desired position. Stay updated with industry trends and advancements, and seek opportunities to expand your skill set. Additionally, consider pursuing certifications, qualifications or advanced degrees that align with your career goals. By actively seeking out learning opportunities, you not only acquire new knowledge and skills but also demonstrate a commitment to professional growth.
Actively seek feedback from colleagues and mentors. This feedback can provide valuable insights into areas for improvement and help identify specific skills that require enhancement. Use this feedback to create a development plan, focusing on acquiring the competencies necessary for a higher-level role or specialisation. Seek out challenging projects or assignments that push your boundaries and allow you to apply and develop new skills. Additionally, consider seeking mentorship or coaching from experienced professionals in your field, as their guidance can provide valuable insights and support your professional growth journey.
By consistently pursuing employment opportunities for learning, skill development, and seeking feedback, you can position yourself for a salary increase by demonstrating increased value and expertise in your role.
Are you earning what you're worth? Gain valuable salary insights with our latest Salary Guide and confidently plan your next career move.
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