What is a Salary Guide and how to get the most out them

It’s the salary guide time of year and our Frontline Salary Guide for the 2023 / 2024 financial year is now available for download! Now, this is extremely exciting for us, as well as many of the candidates and clients we work with. To ensure you make the most of this valuable resource and harness it’s full potential, we’ve compiled a set of tips and tricks for you, for any stage of your career. So let’s jump right in.

Firstly, what is a Salary Guide?

In essence, a Salary Guide serves as a comprehensive reference that offers insights into salary trends and ranges within a specific industry, job role, or region. What sets our Frontline Salary Guides apart is that they also include exclusive research on workers’ sentiments regarding salaries, career aspirations, and their overall career desires.

At Frontline, we tailor our Salary Guides to our distinct industries of Construction, Health, Hospitality, and Retail. And, we’ve created an Education Market Trends guide designed specifically for our Education audience. These resources are the result of collaboration with our local, industry expert Agency Owners across Australia and New Zealand (ANZ). Our partnership with McCrindle, a leading researcher, also provides deeper insights how salary ranks as a motivator and what other factors candidates value in a role, by sector and generation.

You can access your complimentary copy of our Frontline Salary Guides here. Once you have them, here’s how to use them to their full potential.

How to utilise Salary Guides for Job Seekers:

1. Research salary ranges before applying: Before you start applying for jobs, consult our Salary Guides to gain insights into industry standards and specific salary ranges for your desired position. This will help you tailor your expectations, pinpoint opportunities with a competitive salary and approach the salary negotiations with confidence.
2. Understand regional variation:  Different areas (and industries) across ANZ may offer varying salary packages for the same job. Our Salary Guides provide valuable insights into these regional differences, aiding your decisions on where to apply or potentially relocate.
3. Gauge industry sentiments:   Our Salary Guides don’t just focus on figures; they also reveal other trends motivating employees in your industry. Discover why people consider job changes, the additional benefits they seek in new roles, and how well they understand average industry salaries.
4. Negotiate your salary with confidence:   Armed with the data from our Salary Guide, you will approach salary negotiations with more confidence. Use it to highlight your skills, experience, and the market value for your role when negotiating a fair and competitive salary.

Make sure you’re applying to the right roles, download your copy of our latest Frontline Salary Guides.

How to utilise Salary Guides for Employed Professionals:

1. Assess your current salary: Our research found that only 26% of workers across ANZ are happy with their pay! You can use our guides to evaluate whether your current compensation is in line with industry standards and whether it meets your expectations. If it doesn’t line up, this is where you can consider discussing a pay rise with your employer.
2. Plan your career progression: Salary Guides can help you set realistic career goals and understand your earning potential as you advance in your chosen industry. Reach out to your local consultant for personalised insights in your industry.
3. Leverage for promotion: When eyeing a promotion, our salary data will empower you to demonstrate the value you bring to your company, requesting a salary commensurate with the added responsibilities.
4. Stay informed: Regularly consulting our Salary Guides and maintaining contact with your recruiter will keep you updated on industry trends and salary adjustments, ensuring you’re well-prepared for future job changes and negotiations.

Are you getting paid what you’re worth? Download your copy of our Frontline Salary Guides to find out!

How to utilise Salary Guides for Employers:

1. Maintain a competitive recruitment strategy: Our Salary Guides ensures your job offers remain competitive in the market. Given that 80% of workers consider salary extremely important when accepting a new role, aligning your salaries with industry standards can significantly enhance your ability to attract talent.
2. Create retention strategies: Use the guide to regularly review your employee compensation packages and offer pay rises as necessary. This practice will not only keep your workforce motivated but also reduce turnover. Our guides provide additional research on employee desires beyond salaries, promotion expectations, and insights from our 2023 Frontline Feel Good Index to help you retain your staff.
3. Budget planning: Salary Guides provide insights into the financial requirements of hiring new people or promoting current ones, making them an indispensable tool for budget planning. For more detailed insights specific to your situation, reach out to your local specialist consultant.
4. Understand your local market: We have included commentary from our Frontline Agency Owners, who have delved into the specific challenges, trends, and predictions for recruiters in their various markets. If you seek more updated information and deeper insights, please don’t hesitate to get in touch.

Enhance your recruitment and retention strategies by downloading our latest Frontline Salary Guides.

Stay up to date with help from our experts!

For deeper insights into the guide, local market updates, or general advice, please don’t hesitate to contact one of our friendly Frontliners. They specialise in their local markets and work exclusively within their respective industries!

Every year at Frontline, we also host a pre-release Hiring & Salary Expectations Webinar to celebrate the launch of our guides. During this event, we share insider insights and tips tailored for both job seekers and hiring managers in their respective fields. Plus, all participants gain an exclusive sneak peek at our guides before they become publicly available. If you couldn’t attend our October 2023 webinar, reach out to your local Frontliner for a summary and subscribe to our newsletter to stay up to date with our latest research findings and webinars!