Sydney Salary Guide 2011

Overall, the Australian economy is solid in an ever-changing world. The nation came out of the global financial crisis at an impressive rate in 2010 compared to other advanced economies.

Economists expect GDP growth to continue in 2011, at around the 3.5 -4% mark. In line with this, tempered optimism drives professional services hiring in Australia. Firms are expanding and investing in people in some areas, but adopting a more wait-and-see approach to other parts of their business.
To paint a clear picture for you, the Morgan McKinley Sydney Salary Guide 2011 has been created from the accumulated sector knowledge of our experienced consultants. It allows you to benchmark current compensation and hiring trends across Sydney’s professional services.

This is especially useful in financial services, as compensation structures have changed, or are still changing, across many companies. This guide also focuses on Sydney’s commerce and industry sector, where 2011 looks cautiously optimistic and a large majority of firms have hiring plans*. Australian salaries are experiencing upwards pressure in some areas, although this is not across the board. For example, there remains a shortage of talented professionals who can assist organisations in meeting the more rigorous regulatory requirements now expected of them. There is a sense of stronger business and consumer confidence as 2011 progresses, which will naturally lead to investment in business growth and the people needed to implement expansion strategies.

However, at the same time, there is a degree of conservatism in certain sectors following the natural disasters at the start of the year, especially in Queensland but also across the nation and beyond.
It is too early to know the effect of the recent earthquake crisis in Japan, other than an initial ‘pulling back’ by Japanese companies. It is fair to say there will be some impact though, as Japan is the world’s third largest economy and Australia has many links with Asian markets.

This guide is part of our ongoing commitment to keep you up to date with hiring market patterns. We hope you find it informative. Overall, the trends and key indicators for 2011 continue to point to a steady employment market. Finally, we would like to thank you for your continued support and wish you all the best in your employment endeavours in 2011.

* Morgan McKinley recently surveyed over 700 senior level operational and HR managers in Asia Pacific. 89% of financial services respondents expected growth in business revenue in 2011 and 80% of commerce & industry respondents agreed.

Download our 2011 Sydney Salary Guide PDF [1.10 MB]

Louise Langridge
Joint Managing Director | Sydney
T: +61 (0) 2 8986 3103
E: llangridge@morganmckinley.com.au

Vanessa Harding-Farrenberg
Joint Managing Director | Sydney
T: +61 (0) 2 8986 3104
E: vharding@morganmckinley.com.au