I keep hearing aussie workers are experiencing little to no wage growth in the present and last couple of years. Curious to know how others are finding it.
What is your wage growth (%) each year for the past 3 years working and which state are you in.
Also if you want list your job or industry
is that increase outside of cpi?
We don't have automatic CPI increases, so the "increase" wasn't really an increase.
Are the salaries high though?
@boostpak: For the positions, salaries are smack bang in the middle of the range. So lots of people end up leaving after each review. It generates pretty bad morale.
My hubby got 1% for the past 3 years too! Retail… extra $20 a week, guess that could buy a burger with todays prices :)
I'm in financial services too.
I get between 2-4% pay increase every year. Company keeps pretending that it's given based on individual performance but that's objectively untrue, some people who underperformed are getting a bigger pay rise than those who are overperforming.
It's a mixture of performance (minimal), favouritism, market rate, and CPI.
Did you realise you were replying to a 2 year old thread?
I get between 2-4% pay increase every year.
I realised that the company I'm at does automatically pay that 2-4 % increase each year too, except it stops once you hit a certain pay grade.
Just for the record, I still haven't got a pay increase since. Not even inflation! I am just about to get back out there into the job market…
Winter Recession is coming.
Wage growth is the least of our concerns now. A wave of unemployment is upon us.
A friend who owns a building firm just culled half his contractors.
There was blood everywhere.
Laing o'rouke got their license suspended briefly 2 weeks ago due to financial checks,
but managed to get it reinstated after pulling some magic tricks on their accounting books.
Pretty sure he doesn't own Laing.
Mansion - check
Supercars - check
Live in nanny - check
Helicopter - NOPE.
Exactly right.
What's yours?
Generally get a 2.5-3% wage increase annually, rail industry.
Finance as well
2017 - 2018 = 4% (after promotion as well). Not optimistic about what % i'll get for 2018-2019
what did you get?
Nice follow up after so many years, I totally forgot.
For FY19 got another 4% increase, then FY20 I got 0% because "COVID". Then 5% increase from switching jobs/company and job function (so will represent FY21). How about you?
0% at a government department (not there any more)
Not even cpi?
Nope. But I did get a 25% raise by changing jobs :-D
Wow good stuff. Glad to hear that. Never settle on shit conditions
1-2% increase along with bi-monthly bonuses
energy industry
Bi-monthly bonus?
Can see why our electricity prices keep rising.
it's like sales target bonus
that's what you get for privatising energy
long day. meant bi-yearly bonuses :p
2.5% has been that for 7 or so years NSW Government. I did get about 5 years at 4% prior to the (NSW Gov as well).
PS: That's just the award increase.
Work increase was 15% per year for the first 4 years on top, so the first 4 years i was getting 20% increase.
what salary did you start on?
I’ve done well out of promotions, the last 3 years would have been fairly static without.
Work in finance, below is all excluding bonuses which have been up and down between 9% and 15%
2014 - 3%
2015 - 3%
2016 - 8% promotion
2017 - 15% promotion
2018 - 3% changed company (would have been zero otherwise)
2019 - not expecting anything will be 1% max I’d imagine
About 2% on average plus an annual bonus of around another 3.5%. Bonus has only been for the past 3 years or so, they never used to it before that. In IT in Sydney. Certainly a lot lower than it used to be many years ago but I have a job and flexability that I like so that's worth a fair bit to me (but I still wouldn't turn down the 10%+ increases that used to be typical).
Not enough
2016 5%
2017-2019 3%
Many commenters wages are going backwards in real terms which has been the case nationally for over two decades now.
Using ATO figures for reported incomes - tax, half the country brings home less than 44K and halve brings in more than that.
Whereas the average is reported as 65K which in the context of the median reflects the small group of people that are earning most of the money.
Mine was a drop. Needed career move but came at a cost unfortunately.
Local government in Qld. No wage increase since I think 2014? We used to get yearly increases but the unions and our employer have been fighting over a new EBA for years.
Nothing at all? that seems crazy
We've been given a 'bonus' of around CPI each year to soften the blow, but the actual rates have remained static.
200% since Q1/Q2 2018. The trade off is longer hours.
I'm not good at maths, but 200% increase of $50,000 = $150,000.
No 200% will be double, so $100k in your example
$50,000 + 200% ($100,000) = $150,000.
100% increase will be double.
Actually, we're both wrong. As I was calculating % increase, not wage growth.
100% would be double, I hope you aren't an accountant.
Yep you guys are right, must have not been thinking straight when posting that. I just assumed @whooah1979 meant doubling his wage but would be interesting to find out, triple his wage would be very impressive if he was anything half decent before that.
2%.
And this vindicates the story (which I must say, certain politician has been saying for years) the other day that even though our economy grows, that growth is shared to more people meaning most people get little increases.
In other words, the size of the pie is growing but that growth is divided into more pieces resulting in smaller piece for us. That is, real wages is down.
My Private Health insurance is up by 4.3% even though they said only 3%. Gas & Electricity up by near 10% so a 2% rise is a definite eating into real wages.
Workers at Chemist Warehouse will get an immediate 8.75 per cent pay rise and over four years pay will be lifted by between 18.75 and 22.5 per cent, the National Union of Workers said.
https://www.smh.com.au/business/workplace/stunning-win-for-c…
Change of job or a promotion is needed for wage growth in my experience.Why would wages grow beyond CPI if someone is doing the same crap over and over again year after year?
Why would wages grow beyond CPI if someone is doing the same crap over and over again year after year?
One reason would be supply and demand
I was in operations and moved to IT-related roles a few years ago
2018 - 11.6% internally, further 36% after switching job
2019 - 3%
2020 - 7.4%
2021 - 10.6% with promotion, further 25% after switching job
you must be on 200k by now
2.5% for these last three years
2.75% for the next three years.
We finished our eba negotiations in January and to be honest I was surprised we got more than last time. Negotiations took almost a year.
I work for a private operator of public transport.
Financial Services - I've had one pay increase in the last 3 years. It was exactly 1.00% - nothing more, nothing less. I did ask my boss why they even bothered and he said that it's better than the majority of other people's increase of 0.00%. (I had to agree with him on that!).