Australians Should Not Expect Pay Rises Next Year: Study

Australians will need to continue being careful with their budgets, as company bosses look likely to hold back pay raises amid inflationary pressures.  A salary survey conducted by Robert Walters—a Sydney-based recruitment agency—of 1,500 employers revealed that 58 percent would not be offering any pay rises above the current inflation rate, at around 5 percent.  The company’s analysis of 2023 wage movements showed that business development managers reported a 2 percent pay increase on average. Project managers in natural resources and engineering reported a 3.7 percent increase.  Conversely, financial accountants in wealth management received a 35.71 percent bump, hiking their average salaries to $220,000 from $160,000. Tech workers were also some of the more prosperous, with test analysts reporting a 16.82 percent pay rise, and supply chain managers reporting a 15.15 percent jump. ...