Kiwi tech pros have it made, industry looking bright
Kiwi tech professionals are looking to have it made, with new figures from Absolute IT highlighting impressive earnings and career outlook.
According to the Absolute IT Remuneration Report, the national median base rebound with 1.82% over the last six months, from $80,500 to $82,000 and median base salaries increase by 60% within the first six years of IT experience.
The report also reveals employers are offering more benefits and bonuses to retain staff, up 2%, and the gender pay gap arises after 10 years working experience (9% gap).
“Our January 2016 Remuneration Report shows that tech professionals in New Zealand are still in high demand and that a career in IT offers opportunities for high pay levels and additional benefits,” explains Grant Burley, director of Absolute IT.
The report found that IT professionals starting out their careers can look forward to sharp increases in the first six years of their careers.
“Median base salaries increase by 60% within the first six years of their working career, with the highest jump in earnings (12.1%) between four to five years,” says Burley.
“IT professionals also reach the $100,000 median base salary range within 15 years of experience, giving IT a top spot as one of New Zealand’s highest potential earnings sectors.”
The national median base salary is on the rebound at $82,000, up by 1.82% from its previous level of $80,500 as recorded in July 2015, according to the report.
“While still not back to its record high levels of $82,500 in December 2014, it is edging to closer to that figure and it will be interesting to see if this trend continues in 2016,” Burley explains.
According to the report, another upward trend is the percentage of tech professionals in New Zealand who receive additional benefits. This is now 62%, up by 2% since mid-2015.
“One of the main concerns for employers is staff retention, and an attractive benefits package can play an important role to keep and attract talent,” Burley says.
“Wellington employers operate in a highly competitive market and IT professionals in the capital get the best deal with 67% receiving additional benefits, Auckland is second with 64%, Christchurch third with 62% and Hamilton/Bay of Plenty slightly lower at 61%,” he explains.
The top three benefits offered across New Zealand was mobile phone allowances (32%), flexible working hours (30%) and healthcare benefits (29%), while extra super (7%), gym/health club (6%) and childcare (1%) were the least offered benefits.
Another trend that is evident from the report is that the gender pay gap emerges after 10 years of experience.
“Male and female base salaries are on an equal keel during the first 10 years of experience,” says Burley. “Afterwards the gender pay gap arises as female base salaries show a slight dip in income for the next four years (a gap of 9%), relative to their male counterparts,” he explains.
“The reasons for this trend can be attributed to women taking a break from their careers to raise and support family and often returning to the workforce working flexible and less hours,” Burley suggests.
Burley says that the future is looking bright for tech professionals across New Zealand.
“We are seeing strong growth in our technology sector and the demand for skilled IT professionals is increasing each year,” he says. “A career in IT offers Kiwis the opportunity to earn well, live well and contribute to a prosperous New Zealand.”