Sydney CIOs commanding highest salaries

Senior CIOs and IT directors in Sydney continue to command higher salaries than their counterparts in other states, earning $350,000 per annum with Melbourne its nearest rival at $300,000, according to Peoplebank’s quarterly Salary and Employment Index.

IT chiefs in Perth are earning $250,000, while those in Adelaide they are making $240,000. This is followed by Canberra at $205,000 and Brisbane at $190,000, the salary index found.

The latest index is showing a strong market for IT workers with digital skills in Canberra, Melbourne and Sydney, driven by projects in the federal government and broader business market.

“The defining characteristic of the NSW market is that of government and business spending on digital development, that is, new online capabilities, apps and internal systems to make the most of customer data,” said Peoplebank CEO, Peter Acheson.

“This surge has meant that the banking and finance sector – historically the largest employer of IT skills in NSW, now accounts for just 50 per cent of the market.”

Demand for ICT skills across Australia is also being supported by the failing Australian dollar, the Index found. It is now low enough to stimulate activity in trade exposed export and import competing industries – the sectors that have been deferring projects and capital expenditure for years.

Pent up demand and a more favourable dollar are now spurring these organisations to make new investments in technology and R&D, supporting Australia’s transition to a broader economy, the recruiter said.

“The net impact of these markets it that Australia is earning its ranking in the world’s Top 10 markets for digital attractiveness,” said Acheson.

But there is a risk to our digital expansion as the lower Australian dollar and changed migration conditions have combined to deplete the number of overseas trained digital professionals in the Australian skills pool.

“Over the longer term, the risk is that a shortage of digital skills could slow down transformational projects,” Acheson said.

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Follow Byron Connolly on Twitter:@ByronConnolly