A Guide to the Australian Job Market
Posted on September 13, 2019
If you are looking to migrate to Australia in search of work, knowledge about the Australian job market makes you better equipped to make a career there. Knowledge about the top jobs, the skills required, and the best-paying jobs will help you devise a strategy for finding a job and settling down in Australia.
The number of job vacancies in Australia in May 2019 was 243,200 according to the Australian Bureau of Statistics. This was an increase of 0.3% from February 2019. You might be wondering; which fields have these vacancies?
The Australian government’s Department of Employment, Skills, Small and Family Business (formerly Department of Jobs and Small Business) conducts research on a regular basis to discover the sectors facing a shortage of skills According to the report released in the second half of last year, the following sectors are facing a skills shortage.
- Electricians, motor mechanics, vehicle painters etc.
- Engineering professions
- Automotive trades- electricians, motor mechanics, vehicle painters etc.
- Chefs, bakers, pastry cooks
- Health professionals
The Skilled Occupation List released by the Australian government include the skills in shortage in different professions. The list is updated by the Department of Home Affairs (DHA) based on the demand status for various occupations. So, when you are applying for a visa to work in the country, you must nominate an occupation in the list. If you have the skill that is in demand and appears in the SOL, you have better chances of finding a job in Australia.
Top jobs with high salaries
Salary is an important factor when you are thinking of moving to another country on work. Based on the Michael Page Salary Report of 2019, here are some of the top-paying jobs in Australia:
1. Managing Director in Healthcare, Pharmaceutical, or Consumer sectors
This is one of the top-paid jobs in Australia. Managing Directors (MDs) in the pharmaceutical industry and consumer sectors can earn between $360,000 and $420,000 per annum. Those in healthcare can earn between $330,000 and $430,000 in a year.
2. Chief Financial Officer/Finance Director
Chief Financial Officers (CFOs) and finance directors get a good remuneration. CFOs can expect an average annual salary between $350,000 and $450,000, while Finance Directors or a Head of Finance can expect an average salary between $215,000 to $250,000.
3. Project managers in the construction industry
Project managers with 5-10 years’ experience in the construction industry are in demand. Project managers in this sector can hope to earn between $350,000 to $400,000 in a year.
4. Head of Operations in the mining industry
The mining industry has seen a surge in the recent past with a 60 percent increase in job postings over the last 12 months. Experienced professionals in this field earn an average salary between $325,000 and $350,000.
5. Sales Director in Technology and Telecommunications, Business Services, or Consumer sectors
Sales director is one of the top jobs in the country. Sales directors in the technology and telecommunications sector can earn up to $375,000 in a year. Those in business services can earn up to $308,000 in a year while salaries in the Consumer industry can go up to $285,000 in a year.
6. Chief Technology Officer/Head of Technology
In the fast-growing technology industry Chief Technology Officer (CTO) or Head of Technology (HoT) roles are the top-paying roles. The annual salaries for these positions range between $300,000 to $350,000 per year. Tech skills are in demand in the public sector, fast-moving consumer goods, professional services, financial services, and retail sectors.
7. HR Director/Head of HR
These roles are in demand to recruit skilled candidates in key industries. HR directors can earn a salary between $242,000 to $280,000 per year.
Industries and areas offering competitive salaries
A look at the top –paying jobs based on industry shows that the top place is occupied by Information & Communications Technology with 19.2% of roles in the $200,000 bracket. The Healthcare and Medical sector stands at second place with 17.8% of jobs in the 200K bracket while the third place goes to the Construction sector which has 13.2% of jobs in this bracket.
So, which areas in Australia provide these jobs? The top three areas in Australia where you can get a salary of more than $200,000 is New South Wales, followed by Victoria and then Queensland. You can concentrate your job search efforts in these areas and can try for a Skilled Nominated Visa to work in any of these states.
Finding a job in Australia and making a career there can be less of a challenge if you hire an immigration consultant who also offers job search services.