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Tuesday, 09 June 2015 20:26

Digital transformation driving our economic growth Featured

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Digital transformation driving our economic growth Image courtesy of KROMKRATHOG, freedigitalphotos.net/images


Australia’s digital economy has grown by 50% in just three years and is now the country’s biggest growth lever, according to a newly published study on salaries and hiring in the IT sector.

In fact, grow in digital now outpaces banking as the biggest driver of IT hiring, with Melbourne and the government sector in Canberra the strongest markets.

The latest report from ICT recruitment firm Peoplebank reveals that remuneration levels for more than 50 ICT job titles reflect a market in which the so-called “digital transformation revolution” – or ‘Industrie 4.0’ - is now in “full flight”.

According to Peoplebank CEO Peter Acheson, demand levels in Sydney are at their highest for seven years, and the number of projects in the pipeline suggests that “strong demand will be the 'new normal' for 2015”.

"The defining characteristic of the NSW market is that of Government and business spending on digital development, which is new online capabilities, apps and internal systems to make the most of customer data.

"This surge has meant that the banking and finance sector - historically the largest employer of IT skills in NSW - now accounts for just 50% of the market."

The Peoplebank index shows that demand for ICT skills across Australia is also being supported by the falling Australian dollar, and according to Acheson it is now low enough to stimulate activity in trade exposed export and import competing industries- the sectors which have been deferring projects and capital expenditure for several years.

“Pent up demand and a more favourable Australian dollar are now spurring these organisations to make new investments in technology and R&D, supporting Australia's transition to a broader economy.

"The net impact of these markets is that Australia is earning its ranking in the world's Top 10 markets for digital attractiveness," Acheson observes.

But, Acheson warns that there is a risk to Australia's continued digital expansion, as the lower Australian dollar and changed migration conditions have combined to deplete the number of overseas trained digital professionals in the Australian skills pool.

"Over the longer term, the risk is that a shortage of digital skills could slow down transformational projects.

"Through these projects - the transformation to Industrie 4.0 - Australia’s digital economy has grown by 50% in just three years. It is our nation's biggest growth lever, and we need to support its positive impact on business productivity and our capacity to compete in global markets."

Peoplebank Index: Capital City Salary Rates (for permanent roles)

  • Row 1 - June 2015,  Row 2 - Jan 2014,  Row 3 - March 2013

Position

NSW

ACT

VIC

QLD

 

WA

SA

Senior Business Analyst

$120,000

$120,000

$120,000

$120,000

$120,000

$115,000

$130,000

$130,000

$130,000

$120,000

$120,000

$120,000

$130,000

$130,000

$130,000

$120,000

$120,000

$120,000

Senior J2EE Architect

$150,000

$150,000

$150,000

$120,000

$150,000

$150,000

$150,000

$150,000

$150,000

$145,000

$135,000

$128,500

$140,000

$140,000

n/a

$120,000

$120,000

$120,000

Senior Oracle Financials – Functional

$140,000

$140,000

$140,000

$125,000

$100,000

$100,000

$130,000

$130,000

$130,000

$120,000

$120,000

$120,000

$120,000

$120,000

$120,000

$130,000

$130,000

$130,000

Senior  SAP – Functional

$130,000

$130,000

$130,000

$130,000

$150,000

$150,000

$140,000

$140,000

$140,000

$130,000

$130,000

$130,000

$140,000

$140,000

$140,000

$150,000

$150,000

$150,000+

Senior CIO/IT Director

$350,000

$350,000

$350,000

$205,000

$205,000

$205,000

$300,000

$300,000

$300,000

$190,000

$190,000

$190,000

$250,000

$250,000

$250,000

$240,000

$240,000

$250,000+

Senior IT Manager

$180,000

$180,000

$180,000

$180,000

$120,000

$120,000

$150,000

$150,000

$150,000

$110,000

$110,000

$110,000

$170,000

$170,000

$170,000

$150,000

$150,000

$150,000

Web Developers

$140,000

$900/day

$100,000

$640/day

$120,000

$800/day

-

-

-

$80,000

-

$100,000

-

Data Scientists


$150,000

$900/day

-

$800/day

$800/day

-

-

-

 


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Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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