The big question! The one that everyone is too shy to ask during employer presentations, and for those who do attempt to ask, the answer is often a vague – “our salaries are competitive”. So, how do you know that the salary you are being offered is a fair market rate? Here are some resources you can turn to for guidance.
Our recent survey of Victoria students who graduated between July 2008 and June 2009 shows that the average salary for graduates with a bachelor’s degree going into their first full time job was $40,000 while those with honours degree was about $5,000 higher at $45,000. The salaries were pretty consistent across all disciplines apart from the performing arts at $35,000 and medical sciences at $37,000 – both of these at the undergraduate level. A masters graduate averaged $49,000 per annum and a PhD graduate $52,000. Science graduates earn more than their counterparts at these higher levels. The average male bachelor salary was $40,800 and the equivalent female salary was $40,400.
It’s still a bit early to tell, but feedback thus far regarding graduate starting salaries for positions starting in 2011 seem to be averaging around the $42,000 mark but ranging anywhere from $39,000 to $45,000.
If you are negotiating salaries, other good sources of information include the Trade Me Salary Guide site: www.trademe.co.nz/Trade-me-jobs/Salary-guide/index.htm and for those of you looking in the ICT industry Computerworld is another valuable resource: http://www.computerworld.com/s/salary-survey/tool/2010/