21 March 2018 · Absolute IT IT News Reports
Our latest Absolute IT Digital Remuneration Report shows that the national median base salary for digital professionals has gone up by 13% over the last six months, from $71,000 as reported in August 2017 to $80,000 as recorded at the end of February 2018.
High demand, short supply
It is clear that the appetite for digital skills in New Zealand is gaining momentum in a market where digital skills are in short supply and this is driving up the salary rate. This is especially true for a region such as Christchurch: it has the highest median base salary for digital professionals in New Zealand ($87,500), mainly due to the high demand versus the low supply of digital skills in this region.
Digital skills gap in NZ
In December 2017 the NZ Digital Skills Forum voiced their concerns of a digital skills gap in New Zealand in their Digital Skills for a Digital Nation report. They list the speed and scale of the increase of demand as the major contributing factors for the skills gap. As the digital revolution takes shape across the world, digital is touching employment trends in all sectors, not just the traditional tech sector. Skilled digital professionals are in demand in a variety of sectors – media, finance, construction, public administration – to name but a few.
The Digital Skills forum identified the four most-in-demand skill sets that employers in New Zealand will be looking for in the future:
- Machine learning
- Software development
- Data analytics
- Software architecture
A global gap
It is important to note that New Zealand is not unique in its shortage of digital skills: three out of four UK businesses are reporting digital skills shortages at the moment and Europe expects to be short of 500,000 digital specialists by 2020. In the US, the Obama White House predicted that by 2020 there would be 1.4 million computer science-related jobs available, and only about 400,000 computer science grads with the skills to apply for these jobs.
This indicates that we can continue to see an upward salary trend for digital professionals in the future, as businesses and government organisations scramble to keep up and get ahead in the fast-paced digital transformation race.