As we approach 12 months since the first lockdown, things are gradually starting to recover across the market. With global vaccinations rolling out, optimism is returning and companies are looking towards a big 2022 bounce. As such they are beginning to increase headcount to pre-COVID levels and plan for growth later in the year. The fly in the ointment is the uncertainty caused by rapid, border lockdowns between the states which show no sign of abating. Each time these happen, they cause the market to stutter, but the momentum is still going forward.
Technology has been one of the most successful sectors throughout 2020 and that looks set to continue for the foreseeable future. Digital transformation projects are accelerating, as is moving to cloud environments. We are seeing significant investment in security and businesses are rapidly ramping up their online presence.
In addition, lots of money is being made available for start ups and the bigger players are focusing on their innovation hubs. The net result is salaries and contract rates are recovering and have recovered, however we predict they will stay pretty flat over the next year. There are skill sets that will be exceptions as we start to see skills shortages again across software development, cybersecurity, architecture, SaaS sales & account management, cloud and business analysis.
Industry sectors that are performing well include Government, health, finance, aged care, e-commerce, FMCG and logistical services sectors.
What is particularly pleasing is that confidence in returning to the office is increasing. American-owned companies however are still generally all still at home and the feedback from their workers is of increasing frustration, as they miss social interaction and the novelty of WFH is long gone.
Industry sectors that continue to struggle include travel, entertainment, leisure, advertising and administration. With restrictions slowly lifting we remain optimistic that we will see these areas also improve over the coming months.
We will look to update this guide on a monthly basis with any salary fluctuations we are seeing in the Sydney market.
General Manager - NSW
94,919 technology professionals, with an average tenure of 1.7 years.
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Commonwealth Bank, Telstra, Optus, Westpac, IBM
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LIVING IN THE CITY
Sydney has it all – great weather, quality of living, employment opportunities and diverse communities. Whether you are moving for a lifestyle change, an employment opportunity, or to study, you are about to embark on an adventure in one of the most dynamic, and developed cities in the world.
When it comes to choosing a new location, you cannot do much better than this sunny city. From the employment opportunities and premiere academic institutions to the quality of life, and cosmopolitan lifestyle, Sydney offers a full spectrum of the best life has to offer.
From the very surface, Sydney will provide endless entertainment, with sights you can see on a regular basis once you are residing in the city.
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