Data from jobs website Seek has revealed that architecture and design sector had the largest hike in advertised salaries in the past financial year.
Seek’s annual Advertised Salary Index (ASI) for period from July 2021 to July 2022 found that a 7.3 percent rise in advertised salaries in the design and architecture sector, almost double the national average advertised salary, which rose by 4.1 percent.
Seek said advertised salaries picked up “significantly” in late 2021, with rises in every industry and across every state and territory.
Figure showing Advertised Salary Index growth by industry.
Image: Seek
Queensland, Tasmania, Western Australia and the National Territory experienced the highest salary growth, between 4.7 and 5 percent, while South Australia and Australian Capital Territory were the only two states or territories to record “relatively modest” growth, at 1.9 percent and 1.8 percent respectively.
The Seek report said that rapid growth in advertised salaries is now “more common” than pre-pandemic conditions, at nearly double the pace observed in 2019. However, advertised salaries are still growing at a slower rate than consumer prices, with the consumer price index (CPI) up 6.1 percent in the last financial year.
Over the course of the pandemic, advertised salaries for lower-paid jobs rose faster than higher paid jobs, reporting a 7.1 percent rise between February 2020 and July 2022 compared to just 4.3 percent for the higher-earning band.
Seek predicts that the pickup in advertised salaries is likely to precede a broader increase in wage growth across the economy.
Source: Architecture - architectureau
