After ranking the average advertised salaries across 28 different industries, the mining, resources and energy sector has just been named as the most lucrative industry for Australian workers, according to a newly released data report by SEEK.
The employment website found that the sector was ranked as the highest paying industry for the sixth year in a row, with data outlining that the highest average advertised salary across the country within the industry averaged around $116,108 per annum.
Following this, the top four paying industries with the highest average advertised salary was the consulting and strategy industry (at an average of $110,045), followed closely by the construction sector (at $109,325), engineering sector (at $105,810) and in fifth place was the information and communication technology (ICT) sector (with an average salary ranking of $104,874).
“With recent reports showing confidence slowly returning to the sector, it’s no surprise that mining, resources and energy salaries are managing to maintain the top spot in this year’s SEEK Annual Salary rankings,” announced Kendra Banks, Managing Director of SEEK ANZ. However, the industry also saw the most significant decrease in salary throughout the year, with a decrease of approximately 13.96 per cent.
“Despite this ranking, average advertised salaries are well below the level they were at five years ago, with the sector posting the biggest decline in average advertised salaries over the last five years and many of the major mining roles absent from the list of top salaries,” she said.
Looking at overarching data, there has been a notable shift in the industries that dominate the rankings for Australia’s top 20 highest paying jobs over the last five years. In 2013, the mining, resources and energy sector dominated the rankings, offering 13 of the top 20 highest paying jobs. However, this figure has dropped significantly to just two salaries in the top 20 in 2018. The ICT industry has overtaken that position, with salaries from six roles within the industry such as ICT architects, managers and security workers featuring in the top 20.
“What we are seeing is that candidates in information and communication technology are more motivated by salary and compensation than those in any other industry. Other factors that are of importance when considering roles within ICT are work-life balance and career development opportunities. We expect to see salaries for ICT roles continue to strengthen across every sector in the coming years,” Banks explained. SEEK’s full data report can be accessed here.