Slow wage growth in Australia is pushing workers to request a salary increase
More than half (57%) of workers in Australia are looking to get a raise in 2019, marking a significant jump compared to the one-fifth who sought an increase the previous year, according to a new study.
In the 2019 Australia Salary Guides, recruitment agency The Adecco Group interviewed 5,000 employers and employees about their salary, and found almost half (46%) of workers were unhappy with their current pay.
However, a similar percentage (45%) said they expected their salary to increase between three and seven per cent while a little over a quarter (26%) said they anticipated their pay to rise by more than seven per cent.
“Last year’s slow wage growth means employees are motivated to increase their salaries over the next twelve months,” said Rafael Moyano, CEO, Australia at The Adecco Group.
“Luckily, most businesses are in a better position to deliver this year, enabling them to please staff and fuel growth.”
More companies are planning to increase their workers’ salaries, with 86% of employers stating they would do so this year compared to the 69% from 2018.
Almost half (47%) said they planned to bump salaries by more than three per cent while only a little over a third (35%) said they would retain the same rate as last year’s.
Manufacturing (20%) and IT (15%) companies would purportedly offer increases of more than seven per cent.
Here are other highlights of the study:
- 63% of men said they would ask for a salary increase, while only half of women said they would do so this year. In 2018, only 23% of men and 17% of women sought a pay rise from their employers.
- 65% of workers aged 31 to 45 are willing to ask for an increase, followed by 58% of workers aged 18 to 30, and 41% over 55.
- 58% in the Australian Capital Territory are happy with their current salary, followed by 56% in Victoria; 54% in New South Wales; and 43% in Tasmania
