Digital and technology professionals are taking home salaries well above the Australian average, but the industry’s gender pay gap is worse than the national average.
According to Digital + Technology Collective Digital Skills and Salary Report 2018 the median salary of the digital and technology workforce is $131,500 (including super and bonuses). That’s 56.5 per cent higher than the the Australian median of $84,000.
The median salary for females working in the industry is $121,000 per annum, $28,000 less than their male counterparts.
Females represent 45 per cent of the digital and technology workforce, and more than 15 per cent of women are employed on a part time basis compared to 3 per cent of men.
The study comes from Digital + Technology Collective (D+TC), the peak body for the digital and technology industry (formerly known as AIMIA). The results are based on a survey of 351 digital and technology professionals from Australian and New Zealand, conducted late last year.
“Digital and technology talent is scarce,” said Mandy Eyles, General Manager of D+TC. “And as expected, that scarcity drives up the median salary. What’s not expected is the 18.8 per cent gender pay gap that’s well above the Australian average of 15.3 per cent.”
“As the peak industry body, D+TC will be working with members during 2018 to address and improve diversity in the industry, including gender diversity and reducing the pay gap.”
According to the report, three quarters of those working in the industry earn more than $100,000 a year. The high salaries are attributed to a scarcity of talent as more organisations undertake digital transformation initiatives.
Those at the top 10 per cent get an average salary of $279,300, with C-suite salaries rising to a 95th percentile median of $334,350. At the other end of the pay scale marketing and social employees received a median salary of $109,000 in 2017 while creatives working as art directors, copywriters and digital designers get just $100,000.
The Australian digital and technology industry isn’t being run by 27-year-old CEOs. 58 per cent of those working in the industry are 30-45 years old, with salaries between those age brackets ranging from a median of $127,000 to $152,500.
Meanwhile 18 to 25 year-olds only account for 3.3 per cent of the workforce, indicating that employers want trained up or ’digital ready’ employees. It takes ten years of experience to reach the industry median salary of $131,500.