Twenty-three per cent of jobs advertised by companies backed by Australian Venture Capital (VC) firms offered remote working opportunities at the end of June as companies increasingly compete for talent according to a report released today by the Australian Investment Council.
The report, titled Future Jobs Barometer shows 4504 advertised job vacancies in the portfolio companies of eight of Australia’s active VC firms at 30 June 2022 and analyses where jobs are being created by industry, jobs skills and geographic location.
Jobs growth in VC-backed businesses is a reliable indicator of where the demand for skills will be coming from into the future with the latest analysis highlighting the ongoing need for cloud-based skills which accounted for 1270 (28%) of job vacancies. Workflow, Marketing, Engineering and Sales experience were also highly sought after by companies in the innovation sector.
Roles in the Space & Aviation sector tripled from December 2021 to June 2022 which can largely be attributed to employment opportunities created by Queensland-based Gilmour Space Technologies which is developing low-cost solutions for the small satellite industry.
Likewise, roles in the Transport sector increased three-fold which is mostly due to the rapid emergence of electric bike subscription service, Zoomo, which now sits amongst the Top Ten Employers in the Council’s study.
Other key findings in the
Future Jobs Barometer:
- Jobs for Engineers increased by 118% from 117 in December 2021 to 255 in June 2022 with vacancies for Mechanical, Electrical and Design Engineers in fields such as Avionics, Biotechnology and Health Sciences.
- Fintech roles have decreased since December but are still abundant with 1554 job vacancies in the latest study compared to 2685 at the end of December. Global Business payments platform, Airwallex has continued to be a consistent employer in the Fintech sector with 275 jobs available at 30 June.
- Artificial Intelligence continues to feature strongly as an industry for employment with 368 job vacancies across Retail, Health & Medical and Energy sectors.
- Three new entrants joined the Top 10 Employers category in June with 101 job advertisements recorded for Zoomo, 80 for Cialfo and 65 for Immutable.
Download full report
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For further information, please contact:
Robyn Tolhurst
Public Affairs Manager
Australian Investment Council
E: [email protected] | M: +61 436 388 919
About the Future Jobs Barometer
The Future Jobs Barometer research is conducted every six months to determine where jobs are being created by VC-backed businesses across various industries, locations and job types and how these jobs are contributing to the transition of Australia into a highly-skilled, knowledge-based economy. The analysis covers job vacancies in the portfolio companies of eight of Australia’s most active VC firms, which represent approximately one-third of the domestic VC ecosystem.
About the Australian Investment Council
The Australian Investment Council is the voice of private capital
in Australia. Private capital investment has played a central role
in the growth and expansion of thousands of businesses, which when
combined represents a multi-billion dollar contribution to the
Australian economy. Our members are the standard-bearers of
professional investment and include: private equity, venture
capital and private credit funds, alongside institutional investors
such as superannuation and sovereign wealth funds, as well as
leading financial, legal and operational advisers.
The Australian Investment Council requests its name always
appear in full and not abbreviated or as an acronym.