Jobs report: Salaries spike for super and insurance workers

By Grace Ormsby

February 24 2020
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Employees in the insurance and superannuation sector are cashing in on the ever-growing industry, with new research revealing them to be the biggest winners when it comes to income over the last 12 months.

Seek has released its latest employment report, which showed workers in the insurance and superannuation sector had the greatest amount of average advertised salary growth year-on-year, at 6.1 per cent.

This is far higher than the 1.7 per cent increase averaged out across all advertised salaries Australia-wide and regardless of industry – at an average of $88,746.

Government and defence workers also saw a 6.1 per cent advertised increase to salaries, while the mining, resources and energy sector also saw a sizeable boost at 4.9 per cent.

Breaking it down more generally state-by-state, Seek found that salaries grew across every Australian state and territory except for the Northern Territory.

Tasmania led the charge – with a 5.1 per cent growth in advertised salaries recorded – that also brought its average salary up to $79,951.

South Australia also saw stronger-than-average growth – with a 3.8 per cent 12-month boost enabling the average advertised salary to hit $83,103.

In third place, the ACT saw advertised incomes up 2.9 per cent.

It posted the highest average salary across all states and territories – at $90,900.

NSW job posts were just behind, with the average job salary advertised at $90,875 – an increase of 1.7 per cent.

As the only region reporting negative growth, advertised salaries in the Northern Territory were down -0.5 per cent.

Despite this, the territory was far from offering positions with low incomes, with an average advertised salary still sitting at $87,287.

About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

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