Digital Advertising Industry Overall Job Vacancy Rate Plunges

The Australian digital advertising and ad tech industry job vacancy rates have dropped from 11.8% in July 2022 to just 4.5% in July 2023 according to the IAB Australia- 2023 Industry Talent Report released today. Demand for entry level employees has also plummeted from 27% of job openings to just 14%, with organisations instead seeking more experienced and commercially driven leaders. The vast majority of open roles are currently for sales managers and sales strategists, with companies focusing on driving revenue and seeking ways to stand out from their competitors.

While the Report found no evidence of any organisations planning to significantly increase their workforce over the next six months, it did find cautious optimism, with more than half of companies looking to make modest increases to staffing levels.

Despite the vacancy rates dropping, the average salary increased 4.2% in the 12 months to July 2023.  Whilst this is down from 7.6% in the preceding year, Australia remains a premium job market thanks to the cumulative increases in digital advertising specialist salaries over the last few years.

 

The impact of AI on the industry is already being felt with more than half of all organisations working on using AI to increase the productivity of their current team or to improve their products. Just 10% of organisations anticipate staff reductions or restructuring over the next 12 months as a result of integrating AI-driven efficiencies in their organisations. 

Gai Le Roy, CEO of IAB Australia, said: “The 2023 digital industry and ad tech talent market has undergone a significant shift in the last year, moving from a market that was desperate for talent last year to vacancy rates that are close to 2020 levels. Most companies are currently focused on hiring gun talent that can drive commercial outcomes however the intent is to open more roles in coming months.

“On a personal note I am thrilled with the continued growth of women in senior leaderships roles in the industry as well as so many companies following through on their intentions to introduce environmental and sustainability policies."