The biggest pay rises are amongst workers in building, design and construction: Avdiev

The biggest pay rises are amongst workers in building, design and construction: Avdiev
The biggest pay rises are amongst workers in building, design and construction: Avdiev

Young smart workers in Building, Design and Construction, Finance, Corporate and IT have been offered the biggest remuneration rises to September 2019, according to the latest Avdiev Remuneration Report.

Although stable business conditions continue for 63% of subscribers surveyed, 27%, mainly in the Consultants sector, report being worse off than last year, but 10% are doing better.

Business conditions vary from state to state, and are market sector and government stimulus related – infrastructure projects are attracting top talent with top pay.

“The Australian property industry is remaining stable and positive, but in an environment of mixed signals Avdiev Report subscribers are watching and waiting” said Rita Avdiev, managing director of The Avdiev Group, who are remuneration consultants.

“With the May 2019 Federal elections out of the way there is political stability but uncertainty about the global economy and its impact on Australia’s future. The mood is mixed," she added.

Property industry remuneration reflects the fluctuating business conditions in the sectors.

The median increases across all sectors continue at 2.5% for senior and mid-level staff and 3% for the juniors.

However pay rise ranges have increased, with salary rises in several strong market sectors ranging from 2.5% to 15% and 1.9% to 2.9% in sectors where activity has been more subdued. But top performers in those sectors continue to be well paid.

Employers know to ”keep the best people for the worst times” in case of a downturn in business. 75% of companies plan to pay the usual increase or a catch up component, 25% intend minimal or no increases.

These pay rises are in most cases still above the general workforce increases with the Wage Price Index and Consumer Price Index both increasing for the year to June 2019 at 2.3% and 1.6% respectively.

Tags: 
Economy Property Industry

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