The money is flowing back into IT&T, with marketing directors receiving salary packages up to $100,000 more than peers in other industries, according to a report by recruitment firm, Perceptor.
The IT&T industry has definitely started to recover from its significant downturn in 2001 and packages likely to rise from 5 to 10 percent over the next year, according to director Mark O'Connor.
"So without trying to be too bullish, the market is much healthier than it was two years ago and should continue to grow."
The report shows that market rates for a marketing director in the IT&T sector are $280,000 a year compared to marketing directors in the entertainment and media sectors that can expect to earn around the $180,000 mark. Marketing directors in financial service, industrial/B2B and consumer, the three other industry areas that were measured, typically earn $220,000 through to $260,000.
O'Connor said that marketing roles in IT tend to be more performance-related than in other sectors, so if companies are doing well their marketing executives take home very good packages.
"Higher marketing salaries in IT is also due to the fact that most IT companies here in Australia are branches of multinational companies, which are very much sales- and marketing-driven businesses, so that's where they pour their resources in terms of recruitment," he said.
"In particular, we're seeing demand for good channel marketers, channel sales people and senior sales executives increasing again."
The trend didn't follow for CFOs though, who generally earn $20,000 to $50,000 less than peers in other industries, with a market rate of $200,000.
"I think that is also a reflection of the fact that most IT companies in Australia are part of global multinationals and therefore the CFO position is naturally not as senior as a CFO in a publicly listed company in Australia," O'Connor said.
"Also, over the last three or four years, the IT industry has gone through a pretty tough time from an employment perspective, so there's actually been more candidates available than there are jobs; it comes back to a supply and demand issue," he said.
Although O'Connor specializes in the business side of IT, he believes that IT engineers should also reap the benefits of an upturn.
"This will be in the technology companies themselves because they are selling more products again so they need more staff and are willing to reward them. But there should also be more opportunities on the end user side, [because] banks and big industrial organizations are going through a refresh again, which they have been holding off for the last three or four years," he said.
Perceptor was established in 1999 and is a "boutique search and selection" company for mid to senior level appointments. The market rates and salary bands are based on its own research.