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Australia – Millennials say upskilling leads to higher salary

21 March 2018

Millennials in Australia believe that upskilling could lead to a salary increase, according to survey data from Hays.

Hays’ survey of more than 1,200 professionals, found that 5% of them said upskilling leads to a salary increase immediately, with 54% believing it will have financial benefits long-term. However, 35% said upskilling does not lead to a salary increase but instead serves to keep their skills employable. The final 6% were unsure.

A generational breakdown of these findings shows 71% of Millennials believe upskilling will lead to a higher salary in the long term, while 56% of Generation X and 40% of Baby Boomers agree. Instead, 50% of Baby Boomers say continuous learning keeps them employable.

“The Fourth Industrial Revolution is here and rapidly gaining ground,” Nick Deligiannis, Managing Director of Hays in Australia & New Zealand, said. “Many job responsibilities are changing in response to AI, the Internet of Things and cloud computing while technology is also increasing how fast our knowledge and skills are becoming outdated. We all know we need to consistently upskill to stay relevant and employable, but some generations are more likely than others to think they should be financially compensated for their learning through a higher salary in the long run.”

Deligiannis added that upskilling is essential to remaining employable in today’s world of work.

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