A talent scarcity is driving up salaries according to new research
Digital marketing, digital business strategy, analytics and digital project management are the most in demand skills in the digital and technology workforce, recent research has found.
But as technology continues to advance at a rapid rate, skills gaps are being found. Digital and technology professionals are aiming to upskill in more current technologies rather than looking at impending applications, according to the Digital + Technology Collective Skills and Salary Report for 2018.
Digital marketing was the area most highly relevant to most respondents but a massive 75% of digital marketers said they had at best adequate skill levels in programmatic media, while just under 60% said the same about their skill levels in SEO, SEM and E-commerce.
Over 29% felt strongly enough to say their programmatic media skills need improvement and over 20% want to improve their SEO, SEM and marketing automation and optimisation skills. That may be because the median salary is highest for digital marketers with marketing automation, e-commerce and programmatic skills, sitting between $159,000 and $168,500, with programmatic media salaries at $168,500.
That’s substantially above the industry media of $131,000 and well above the Australian median of $84,000. Three quarters of those working in the industry earn more than $100,000 a year, according to the report which has been released in partnership with digital recruitment specialists Razzbri.
“Digital and technology talent is scarce,” says Mandy Eyles, General Manager of Digital + Technology Collective (D+TC), the peak body for the digital and technology industry. “And as expected, that scarcity drives up the median salary.”
“Digital marketing is the most valued skill; other skills in digital business strategy, analytics, digital project management, digital design and UX are in high demand,” she adds.
More than 85% of D+TC members said these skill areas are the most important to their work. The survey showed the industry as a whole wasn’t moving fast enough to keep pace with rapid technological change. While that is driving up salaries in leading-edge technologies, like artificial intelligence (AI) and augmented and virtual realities (AR and VR) to more than $140,000 annually, many in the workforce say these technologies aren’t relevant to their work.
Download a copy of the report for more insights on: median salaries, gender pay gap, skills demand and development, new technologies disconnect and business challenges in the digital space.
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