You may find your pay cheque a bit fatter soon, with new data revealing employers across the country are planning to hand out higher salaries. 

A Mercer survey has found that 93% of organisations are keen to raise wages by at least 3% this year, which is a bit higher than the median growth of 2.5% in 2021. 

According to the Australian Bureau of Statistics (ABS), national wages growth has been at 1.7% over the year to June. 

The Mercer report cited employers’ optimism about the COVID-19 recovery now that restrictions are easing out. 

“Bosses are attempting to attract and retain workers, especially after many organisations resorted to salary freezes just to keep their businesses above water during 2020,” Mercer market insights and survey data business leader Chi Tran said. “In order for the companies to grow, they need to invest back into their people. We’re seeing, definitely, an uptick [in wages] across the board.” 

‘Three per cent salary bump is not enough.’

Hospitality, construction, and supermarket unions claim the 3% wage increase is no longer acceptable as the conflict between Russia and Ukraine resulted in surging living costs. 

Representing more than 150,000 workers across 45 sectors, the United Workers Union said its members would pursue at least a 6% rise over the next two years. 

Meanwhile, the Electrical Trades Union said its demands for annual wage increases would be between 5% to 6%. 

The Health Services Union has already campaigned for healthcare workers to receive a pay increase as the demand and productivity in the sector increased in the last two years.

In Sydney, yearly increases in public sector compensations are set at 2.5%.  

What’s your chance to receive a pay rise this year?

Not all workers will receive equal rewards. According to the recently released Hays Salary Guide, there are apparent differences in pay increase intentions by industry or sector. 

In 2021, the legal sector topped the list for the biggest pay rise. At least 73% of workers in the legal industry were awarded a pay rise, with 31% intending to hand out 3% or more. 

Next on the list is the architecture industry, where at least 20% of workers might get an increase of 3% or more. 

A pay rise of 3% above is also apparent in the technology sector (19%) and accountancy, finance & sales (17%). 

On the other hand, the Mercer report found roles in digital industries have already recorded the biggest wage increases since the pandemic started. 

Sectors that have benefited the most from wage increases are sales, marketing, IT, engineering, and science. 

So if you are part of the legal, architectural, finance, technology, and sales sectors, you have an excellent chance to get at least a 3% salary bump.

Furthermore, if you are part of a labour union, you can benefit from the bargaining power of your organisation and may get to see at least a 6% rise in the next two years.

Some employers are also keen to reward employees with a pay rise if they possess or acquire valuable skills for the organisation. 

Free Online Pay Rise Tools 

To help you assess your current standing and arm you with data if you wish to negotiate your pay, you can use Hay’s Salary Checker

The free online tool will allow you to check the salaries according to your job position quickly and help you compare and explore wages in different regions in Australia. 

Another helpful tool you can use is the Pay Calculator developed by the Fair Work Ombudsman. The tool can help you check your current base pay rates, allowances, and penalty rates (including overtime). 

Pin It on Pinterest