One of the highest pay increases across the board of 4.1% has been taken by practitioners of finance and accounting.
However, it has been found that while finance and accounting job families enjoy being on the high end of the pay increase spectrum, the wider finance, banking and insurance industry have been seen to have underperformed during the last financial year. This was according to the Australian Institute of Management’s National Salary of 2011.
Compared to the Australian average of 4 per cent in increase, the industry sector only managed an average pay increase of 3.62 per cent in 2010-2011. It is also the only industry sectors that recorded lower salary movements.
However, it is seen that this will rise to 3.79 per cent in the coming financial year. This will bring the industry back in line with other sectors.
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