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Robert Half reveals top 10 jobs set for highest salary gains
Robert Half reveals the top 10 jobs set for the
highest salary gains in 2017
2017 Robert Half Salary Guide
Auckland, 11th April 2017 – New Zealand’s finance and technology sectors can expect optimistic salary growth this year, as the 2017 Robert Half Salary Guide has identified the key jobs that will experience the highest pay gains in terms of starting salaries over the next 12 months.
The 2017 Robert Half Salary Guide reveals annual year-on-year average growth for finance and accounting salaries has risen by 3.0%, well above the 2016 national average of 1.6% across all sectors[1]. Encouragingly, starting salaries for technology professionals have risen by 3.4% over the past 12 months, more than double the national average wage growth.
Megan Alexander, General Manager Robert Half New Zealand said: “New Zealand is definitely experiencing optimistic salary gains, with the finance and technology sectors in growth mode. Businesses are expanding, which is a reflection of high levels of confidence within the business community. To manage this growth, demand is surging for highly-skilled finance professionals, as well as technology professionals to implement new financial and IT processes to maximise company expansion and business-critical initiatives. Not surprisingly, the demand for these highly skilled professionals has not kept pace with supply, which is only exacerbating the current skills shortage within these industries and placing upwards pressure on salaries.”
“To continue to enjoy steady wage growth and remain in-demand, finance professionals will need to evolve their skillset from purely financial to incorporate more IT-based knowledge. The growing influence of technology on the finance function means employees will need to continually add value by creating greater efficiencies and streamlining company processes. Finance professionals skilled in ERP systems and accounting and reporting software will be in a strong position to negotiate a higher salary.”
“IT professionals who specialise in customer-centric technology and Big Data/machine learning will continue to dominate the IT employment landscape, and often receive multiple job offers. Companies will therefore need to offer a competitive remuneration package – that is regularly above-market average - to attract and retain the best talent, or risk losing their top performers to a competing organisation.”
What are the finance jobs with the highest salary gains?
Salary growth across the finance sector in New Zealand is above the national average, with starting salaries for many finance and accounting roles set to see substantial growth in 2017. Demand is particularly strong for cost-savings roles that can secure strong profitably margins for organisations.
1. Senior Business Analyst
| 2017 min[2] | 2017 max | YoY growth[3] |
| $90,000 | $165,000 | + 8.0% |
Source: 2017 Robert Half Salary Guide
Big Data is here to stay and will continue to impact the finance function. Skilled Senior Business Analysts are in high demand as there is an increasing need to develop and monitor data quality metrics and ensure business data and reporting needs are met. Companies are willing to pay competitive remuneration to secure highly qualified and experienced BAs.
2. Payroll Manager
| 2017 min | 2017 max | YoY growth |
| $75,000 | $120,000 | + 5.4% |
Source: 2017 Robert Half Salary Guide
Payroll managers who are abreast of the latest financial regulation, able to effectively lead a team within the payroll function, as well as develop systems to ensure full efficiencies can be realised, will be able to command strong salary growth in the year ahead.
3. Cost Accountant
| 2017 min | 2017 max | YoY growth |
| $75,000 | $130,000 | + 5.1% |
Source: 2017 Robert Half Salary Guide
While businesses are focused on growth, employers are continually seeking new ways to ensure they hit their budgets and increase profits. Cost Accountants will therefore remain in high demand as these professionals are able to ensure profitable margins for their organisation.
4. Assistant Accountant
| 2017 min | 2017 max | YoY growth |
| $50,000 | $68,000 | + 4.9% |
Source: 2017 Robert Half Salary Guide
Demand for accountants will continue to rise as companies are faced with stricter accounting regulations. Accounting teams within organisations will grow in size, meaning the demand for skilled Assistant Accountants to help manage financial growth will place upwards pressure on salaries for these professionals.
5. Senior Financial Accountant
| 2017 min | 2017 max | YoY growth |
| $91,200 | $110,000 | + 4.8% |
Source: 2017 Robert Half Salary Guide
In uncertain economic conditions, Senior Financial Accountants who can effectively manage the financial activities of an organisation remain in high demand. The ability to make strategic budgeting and investment decisions for a company places these professionals in a prime position to enjoy steady salary growth.
What are the technology roles with the highest salary gains?
Technology professionals in New Zealand can expect above-average salary growth for the year ahead, with roles specialised in utilising data analytics and customer-focused software set to receive the highest pay gains.
1. Business Analyst
| 2017 min | 2017 max | YoY growth |
| $80,000 | $110,000 | + 8.6% |
Source: 2017 Robert Half Salary Guide
With the New Zealand economy expanding, uncertain conditions can place pressure on companies to generate enough revenue to remain profitable. Business Analysts who can identify problems and opportunities within a company, provide solutions to achieve business goals and conduct market-leading analysis can expect substantial salary growth in 2017.
2. Business Intelligence Analyst
| 2017 min | 2017 max | YoY growth |
| $75,000 | $100,000 | + 6.1% |
Source: 2017 Robert Half Salary Guide
Big Data offers big potential for New Zealand companies. Business Intelligence Analysts continue to find themselves in high demand as companies realise the power of Big Data and the impact of using data to make informed, strategic decisions that benefit operations in all departments and impact a company’s bottom line. Because of this, these professionals can expect sustained salary growth.
3. Business Intelligence Manager
| 2017 min | 2017 max | YoY growth |
| $115,000 | $170,000 | + 5.6% |
Source: 2017 Robert Half Salary Guide
Business Intelligence Managers who capitalise on the benefits Big Data can offer a company are in a good position to negotiate generous salary gains, particularly those equipped with leadership skills, are able to effectively manage a team and possess the know-how to increase a company’s bottom line through in-depth data analysis.
4. Automation Test Analyst
| 2017 min | 2017 max | YoY growth |
| $75,000 | $120,000 | + 5.4% |
Source: 2017 Robert Half Salary Guide
As New Zealand companies continue to adopt automation processes to make their organisation more efficient, the demand for Automation Test Analysts will continue to rise – which will place upwards pressure on salaries.
5. Developer (Back-end Development)
| 2017 min | 2017 max | YoY growth |
| $80,000 | $115,000 | + 5.4% |
Source: 2017 Robert Half Salary Guide
Developers will find themselves in a prime position to negotiate higher starting salaries as New Zealand companies endeavour to make their websites more customer-focused. Developers who have well-developed programming skills, are database-savvy, and who have a thorough knowledge of web services will be in high demand over the next 12 months.
[1] http://www.stats.govt.nz/browse_for_stats/income-and-work/employment_and_unemployment/LabourMarketStatistics_HOTPDec16qtr.aspx
[2] Salaries refers to starting salaries. Salary figures provided vary according to level of experience, size of the company, sector, employee skills and the organisation itself.
[3] Salary difference between 2016 and 2017.
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About the Robert Half Salary Guide
The 2017 Robert Half Salary Guide is the most comprehensive and authoritative resource on starting salaries and recruitment trends in finance and accounting, and information technology.
It offers a comprehensive overview of the current salary ranges, industry trends and specific job trends for finance and accounting professionals, and IT and technology professionals. The results and insights of the 2017 Robert Half Salary Guide are based on comprehensive analyses, local job placements, local expertise and independent research of executives. For the first time we have also aggregated our data with Broadbean job posting data (a digital tool that captures job advertisement analytics and talent acquisition behaviour).
The full 2017 Robert Half Salary Guide can be downloaded via this link.
About Robert Half
Robert Half is the world’s first and largest specialised recruitment consultancy and member of the S&P 500. Founded in 1948, the company has over 325 offices worldwide providing temporary, interim and permanent recruitment solutions for accounting, finance and technology in New Zealand. More information on roberthalf.co.nz.
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