The Sydney HR job market in 2024 was a little mixed. The hiring landscape, while steady in some areas, has experienced a noticeable slowdown compared to previous years.
Let’s dive into the key numbers, trends, and industry insights.
Sydney’s HR Vacancy Volumes
The total number of HR vacancies across Sydney has been subdued, especially compared to the larger hiring spikes we’ve seen in previous years.
Mid-Market Vacancies (120K - 200K Base Salary): These roles remain the bread and butter of the HR market, with generalist positions still taking the lead. About 80% of HR vacancies are in the generalist space. These roles cover everything from HR Advisors to General Managers and VPs, making it a broad and deep category.
Senior Market Vacancies (200K - 350K Base Salary): At the top end of the scale, senior roles have remained low, usually with less than 50 vacancies per discipline.
Permanent vs. Temporary Vacancies
The data shows a clear trend: permanent roles outpaced temporary vacancies in 2024, which is consistent with the general pattern in Sydney's recruitment market. The demand for temporary roles has been low, with short-term and fixed contract vacancies remaining consistently below 100 per month.
Permanent Market: We saw a strong pick-up in permanent vacancies early in the year, with a noticeable mid-year spike. However, after October, the permanent vacancy market began a steady decline.
Temporary Market: The temporary HR market remains muted. The overall lack of demand for temporary roles in 2024 suggests that many companies are opting for stability over short-term solutions.
Mid vs. Senior Market
When we zoom in on salaries, the numbers reveal an interesting contrast between the mid-market and senior HR roles.
Mid-Market Salaries (120K - 200K): These salaries dominate the HR hiring landscape. While mid-level roles may not be as glamorous as their senior counterparts, they’re abundant and integral to most organisations, especially in Generalist positions such as HR Business Partner positions.
Senior Market Salaries (200K - 350K): Despite the limited vacancies, these senior roles offer lucrative packages and usually influential leadership positions. Talent supply did exceed the number of roles in this bracket so this was and will remain a competitive space.
Sydney HR Vacancies by Industry
Across Sydney, certain sectors have been hiring more aggressively than others. Understanding which industries are leading the HR hiring game will give you a clearer picture of where the opportunities are.
Technology: Technology was the top-performing sector in 2024, making up nearly 19% of all HR vacancies. Big global names like Google, and local giants such as Atlassian and Canva have contributed to this growth, with a significant number of HR vacancies popping up across various tech companies in Sydney. From digital growth to fintech, the demand for HR professionals in this sector was strong.
Healthcare: The healthcare sector was also a key player in 2024, with significant hiring in both public (NSW Health) and private sectors. Pharmaceutical and Medical Device Companies also contributed strongly to this sector.
Financial Services: While we expected this sector to top the list, Financial Services still holds a strong presence in Sydney’s HR market. Companies like CBA and Westpac led the charge as significant HR hirers in Sydney, with superannuation companies and insurance firms also contributing. The RBA also added a number of HR vacancies throughout the year with a significant restructure.
Retail & Leisure: Retail had a mixed year. While 2024 didn’t bring massive growth to the sector overall, large retailers like Woolworths were hiring HR professionals across various levels. Hotel and restaurant groups, despite a challenging year economically, also created multiple HR roles in Sydney.
What Does This Mean for 2025?
Looking ahead, we’re hoping for a steady recovery in 2025. With HR vacancies across the mid-market (120K - 200K) remaining high, there are still plenty of opportunities for HR Generalists in particular. The senior HR market may take time to bounce back. We can expect to see a gradual increase in demand for senior roles, especially if businesses confidence sees the expected recovery.
Key Takeaways
Mid-market roles dominate: Generalist and mid-level positions continue to make up the bulk of HR vacancies.
Permanent roles on the rise: While the temporary market remains subdued, permanent roles are expected to see gradual growth.
Tech is leading the charge: The technology sector has emerged as the largest contributor to HR vacancies, followed closely by healthcare and financial services.
Challenges in the senior market: Despite high-paying opportunities, the senior HR market remains small, with fewer vacancies being posted.
What do you think 2025 holds for HR professionals in Sydney? Share your thoughts in the comments below or reach out via LinkedIn to discuss how you can position yourself for success in the year ahead.