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Jobs report: Salaries spike for super and insurance workers

  • February 24 2020
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Jobs report: Salaries spike for super and insurance workers

By Grace Ormsby
February 24 2020

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.

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Jobs report: Salaries spike for super and insurance workers

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  • 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.

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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.

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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.

 

 

 

 

 

Jobs report: Salaries spike for super and insurance workers
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About the author

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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 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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