- Australian tech salaries remain largely unchanged despite the current economic crisis, according to new analysis.
- Tech startups worth up to $50 million are paying founders and CEOs more than $227,000, according to analysis by tech consultant Think and Grow.
- These are the other best paying jobs within tech startups and how much they pay.
- Visit Business Insider Australia's homepage for more stories.
The coronavirus outbreak may have cannonballed sectors from hospitality to tourism, but tech somehow won't seem to quit.
Despite listings declining over the last couple of months, the sector appears to still be hiring, with hundreds of gigs still advertised across the likes of IT company Datacom and Airwallex through to Blackbird Ventures' portfolio book, according to tech company consultant Think and Grow. Director Jonathan Jefferies says sector growth remains strong.
"New data from LinkedIn shows that despite the hiring rate across the economy falling to negative 2.8%, software and IT is up 17.3%," he told Business Insider Australia.
Of those, it's data scientists that are in hottest demand, comprising 3.5% of all job hires.
Industry salaries remain stubbornly high, according to a report prepared in conjunction with Amazon Web Services (AWS).
"Talent in tech is still a premium, despite economic decline across other industries [and] tech jobs are still growing and skillsets are in high demand," Jefferies said. "The recruitment work we still have globally shows the same salary levels as was six months ago."
"Instead of salary cuts, current employees – be it executives [or] key staff – are working reduced hours. While we're seeing some temporary pay cuts, we've not seen a shift as yet in salary."
According to their analysis, which looks at the average salaries in startups that have raised between $10 million and $50 million, the top of the pile is still making bank. The analysis begins at $10 million Jefferies says because it's generally only then that startups really begin to have the hiring firepower to stop outsourcing.
Unsurprisingly, it's founders and CEOs that reap the richest rewards in startup land. Each can expect to earn $227,551 per year when their business nears the $50 million milestone. Those in earlier stages, having raised less than half a million dollars, pay themselves $76,792. So much for putting it all back to achieve their vision.
Their offsiders, the heads of operations, make $209,100 on average, while the ones in charge of the books, the chief financial officers, take home $207,000.
Curiously, that's more than the ones putting the tech in tech startup. Chief technology officers bank around $202,100 a year.
If you're head of product, you just miss out on the $200,000 club, raking in slightly less at $198,600 a year.
Those kinds of numbers might inspire envy in other sectors that have been hit far harder by the current crisis. To them, Jefferies encourages they get on board.
"It’s essential that we look at white-collar workers and graduates, and help educate and re-train them into tomorrow’s economy," he said
Predicting more traditional roles may quickly become redundant, he suggests more Australians need to look to retrain.
"With the amount of qualified, skilled staff being let go, it's clear we must act now and support [their] training," he said.
For those at home with more time than ever, a healthy risk appetite and a desire to launch something off the ground, maybe now's your chance.
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