Workers willing to quit jobs in search for higher pay

Money v loyalty

It’s a sign of the times. The cost of living continues to hit households hard, and health, housing and food are the main contributors to higher living costs for all household types.

Figures show we’re also paying more for pharmaceutical products, medical and hospital services, electricity and fruit and vegetables. These rising prices are forcing workers to forgo loyalty and chase after a higher salary if it’s on offer.

‘The research indicates that many workers feel undervalued, highlighting a gap between employee expectations and current compensation levels.’

Nicole Gorton, director of Robert Half.

In some industries, wages are rising this year. The technology sector leads with the highest salary increases, particularly in artificial intelligence and cybersecurity, while project managers can earn up to $190,000, according to recent research by recruitment agency Adecco.

Across the board, annual wage growth has ticked up for the first time since the June 2024 quarter, by 3.4 per cent. The Australian Bureau of Statistics data shows the larger than usual March quarter contribution was mainly driven by new state-based enterprise agreements in the public sector.

Time to quit

Half (52 per cent) of workers say they would leave their employer for another job that offered a higher salary, according to research from recruitment agency Robert Half. Sustained inflation and increasing responsibilities being loaded onto employees is driving growing demand for higher salaries.

When employees were asked if they felt their current salary reflected their expertise, experience and level of responsibility, less than half (42 per cent) agreed they were paid appropriately.

Nicole Gorton, director of Robert Half, says it’s clear that money still talks. Most workers believed their salary needed to increase by between 10 per cent and 20 per cent to be an accurate reflection of their expertise and level of responsibility.

“The research indicates that many workers feel undervalued, highlighting a gap between employee expectations and current compensation levels. This can be due to stagnant wages despite increased responsibilities or a perception, whether accurate or not, that their compensation lags industry standards for similar roles,” Gorton says.

Kat Wang regrets not looking around for a new job earlier. The benefit of hindsight has taught her the importance of knowing what you’re worth and going in hard for pay increases every year.

“The job market is always moving, and you don’t want to be wasting opportunities to earn more by standing still,” Wang says.

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