2017 Innovation Salary Guide

Vanessa Harding-Farrenberg
February 22, 20173 mins read

Our 2017 Salary Guide offers key recruitment insights within Innovation, covering permanent salaries across the Australian market.

Contents:

Innovation Salaries

Commentary on Innovation Roles and Remuneration in Australia for 2017

* All salaries quoted exclude superannuation 

Innovation Salaries

Role Annual Salary
Customer Experience Analyst $110,000 - $130,000
Customer Experience Manager $125,000 - $145,000
Customer Experience Director $180,000 - $200,000
Innovation Manager $130,000 - $160,000
Head of/Director of Innovation (Group) $220,000 - $350,000
Head of/Director of Innovation (Business Unit) $180,000 - $220,000
Fintech Manager $140,000 - $170,000
Head of Partnerships $200,000 +
Digital Strategy Manager $130,000 - $160,000
Head of/Director of Digital $180,000 - $220,000
Digital Product Manager $110,000 - $130,000
Head of Product $150,000 - $180,000
Solutions Manager $140,000 - $160,000

Commentary on Innovation Roles and Remuneration in Australia for 2017

This year, Morgan McKinley was thrilled to be able to add Innovation to our list of specialisms. Incubators, accelerators, innovation hubs, and the constant rivalry between fast-paced startups and large corporates trying to incorporate or compete to keep up, has produced a huge amount of flux in this area across the Australian market. With companies now focusing their attention on new ways of producing results, Innovations has had an interesting last year, and is really starting to take flight despite the challenges we are still seeing all too commonly in the hiring process.

One of the most important challenges currently within the innovation market is getting buy-in, funding and sign off for the growth of their departments. Due to the fact that a lot of hiring managers are struggling to eloquently portray what they need in a candidate, HR is withholding sign-off – especially with the focus on cost-cutting across headcount. The type of candidates needed are a blend of unusual skills sets that allow them to provide a unique perspective on the market, which means they are often hard to define in a conventional job description.

As the innovation space develops in 2017, we are seeing a continued need for recruitment at the senior end, with key roles being innovation managers / head of innovation, customer experience managers and product innovation leaders. The market seems to understand that to effectively produce a working hub, they need to populate with knowledge from the top down.

In this search, there is a continuous need for education to hiring managers and HR with regards to the skill sets needed and where to source them from. In addition to the top tier consulting firms, we are also seeing an increase in high-quality candidates from UK and US as well as Israeli and Asian experience, where they can bring fresh ideas to the Australian workplace.

It is guaranteed to be a fast-paced and exciting time to develop the innovation space in 2017 in Australia, with permanent recruitment continuing to be the market trend, and scattered contracts as organisations attempt to build teams without the headcount commitment. We predict salaries fluctuating to accommodate a growing understanding of what is needed across multiple levels, and segmenting experience into concrete salary bands.

Vanessa Harding-Farrenberg's picture
APAC Regional Managing Director
vharding@morganmckinley.com