A rise in salaries, bonuses and work benefits suggest that 2016 is a good time to be a tech professional in New Zealand, as the technology represents one of the country’s highest earning potential sectors.
"Tech professionals in New Zealand are still in high demand and a career in IT offers opportunities for high pay levels and additional benefits,” says Grant Burley, Director, Absolute IT.
Findings from the Absolute IT Remuneration Report claim 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 percent within the first six years of their working career, with the highest jump in earnings (12.1 percent) between four to five years,” Burley reports.
In addition, Burley says 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.
Meanwhile, the national median base salary is on the rebound at $82,000, up by 1.82 percent from its previous level of $80,500 as recorded in July 2015.
“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 adds.
Bonuses
Another upward trend is the percentage of tech professionals in New Zealand who receive additional benefits is - which now stands at 62 percent, up by 2 percent 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 adds.
Findings claim that Wellington employers operate in a “highly competitive market” with IT professionals in the capital receiving the best deal with 67 percent receiving additional benefits.
The report states that Auckland is second with 64 percent, Christchurch third with 62 percent and Hamilton/Bay of Plenty slightly lower at 61 percent.
The top three benefits offered across New Zealand were mobile phone allowances (32 percent), flexible working hours (30 percent) and healthcare benefits (29 percent), while extra super (7 percent), gym/health club (6 percent) and childcare (1 percent) were the least offered benefits.
Gender Gap
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,” Burley adds.
“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 percent), relative to their male counterparts.
“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.”
Looking ahead, 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 adds.
“A career in IT offers kiwis the opportunity to earn well, live well and contribute to a prosperous New Zealand.”