Bonuses and benefits still a powerful lure in IT
News Release
Bonuses and benefits still a powerful lure in IT job negotiations across New Zealand – but gender disparity in bonuses
(10 September) Bonuses and benefits to attract and keep key IT staff is still prevalent in New Zealand with about 28 per cent of professionals getting cash rewards according to a survey by one of the country’s leading IT recruitment agencies.
The survey by Candle of 3,200 professionals reveals over the past year a quarter of people say they received an average cash bonus/commission of $11,700 with the highest single recipient reaping $195,000.
According to the data drawn from the Candle MySalaryPortal (http://www.mysalaryportal.co.nz) there is a disparity in gender with males averaging $1,300 more in bonuses/commissions than female colleagues. The average bonus is $11,900 and $10,600 respectively. Similar research in Australia showed the gap was almost triple at about $3,500 ($AUD 3,000) in favour of the male pay packet.
It also showed 58 per cent of respondents received one or more benefits - with car park and health care subsidies topping the list. Mobile phones and car allowances were also sort after perks. Only 44 per cent of Australian ICT professionals received some kind of benefit.
Candle CEO, Kym Quick, said despite unemployment increasing from 6.2 per cent in the March quarter to 6.4 per cent in the June quarter, and the general job market favouring hirers over candidates, inducements remain popular to snare and keep top candidates.
She said New Zealand’s ICT industry was an economic ‘bright spot’ carving an international reputation with bonus payments for professionals comparable with Australian bonuses for ICT workers.
“The New Zealand tech scene is producing some outstanding results particularly in development and in start-ups so it’s no surprise we’re seeing some heavy weight bonus payments,” Ms Quick said.
"Contrary to Australia, job advertising in New Zealand has been increasing in the last four months driven by strong growth, mainly in white collar roles, in Auckland and Wellington.
“It’s encouraging to see business confidence is continuing to grow which will have a positive flow on effect to candidate confidence. Strong inducements remain key to attract good people but equally they’re being used to retain high performers and those who have skills that are in shortage.”
Among the largest bonus/commission revealed by the Candle MySalaryPortal was $195,000 received by an Auckland-based regional sales executive. The lowest included $500 by a senior systems administrator, also working in Auckland, in the health care sector with more than a decade of experience.
Auckland paid the best
average bonus/commission of $12,200. And outside of
management positions, Project Managers or Team Leaders were
more likely to receive a bonus.
In terms of benefit trends, Ms Quick said car parks headed the list but health and work/life balance were playing a greater role and increasingly people were asking for health care subsidies, following the US model of salary packaging, and flexible hours.
Top 10 benefits across New Zealand
· Car park
505 (27 per cent)
· Health care
subsidies
378 (20 per cent)
· Mobile phone/mobile
allowance 311 (16.6 per
cent)
· Car and/or car
allowance
218 (11.6 per cent)
· Extra annual
leave
165 (8.8 per cent)
· Flexible working
hours
151 (8 per cent)
· Additional
superannuation
51 (2.7 per cent)
· Company paid
training
30 (1.6 per cent)
· Overtime
payments
29 (1.5 per cent)
· Gym/health club
membership 13 (0.7 per
cent)
In Australia, mobile phones topped the list
followed by a car park and then car allowances.
ENDS