Mercer Quarterly Salary Review April 2023

The document is a remuneration benchmarking report titled Mercer’s Quarterly Salary Review, released quarterly to provide insights into the Australian workforce's salary trends. It outlines the key observations from the latest review, indicating that the annual general market employment cost movement was 3.5% at the median for April 2023. It details that all streams reported increases compared to the previous cycle, with the professional career stream experiencing the highest median employment cost increase of 3.7%. Queensland recorded the highest median pay rise at 4.1%, marking the largest increase since March 2013. The IT, Telecom & Internet and Legal, Compliance & Audit job families reported median employment cost increases of 4.4% each. The report also highlights the Market Research & Analysis - Entry Professional (P1) as the highest moving cross-industry job, with a 21.3% median employment cost movement. Additionally, the report includes data analysis by organization size, characteristics, and employee demographics.