These are the industries of the future, the areas that will be responsible for furthering our future efforts in innovation, creativity and design. From the need to become more sustainable in energy consumption, developing ground-breaking technologies in industries like medicine and expanding our knowledge of the Universe; STEM subjects are at the forefront of the developments that will change our lives for years to come.
STEM isn’t restricted to only a few areas. There’s plenty of career paths that you can follow which are in need of talented, motivated professionals. Industries like maths aren’t very well known, but a qualification in this area can open a variety of careers in meteorology, surveying and research fields.
STEM Workforce Breakdown
In Australia, like around the world, there’s a definite skew towards men working in STEM related careers. While this is improving year-on-year; 73% of the Australian STEM workforce is male. Of the workforce, 68% have a VET qualification, up to an Advanced Diploma, as opposed to a Bachelor degree or other University qualification. This alone proves that STEM careers are accessible to everyone, you don’t need to commit to years at University to start a successful career in science, technology, engineering or maths.
STEM Salary In Australia
STEM qualified professionals are some of the country’s highest earners. With more STEM careers sitting in the top income bracket than any other industry in Australia; the salary alone shows how in-demand talented professionals are. This is also a trend set to continue into the future as well, with strong growth across the board boosting salary levels in an attempt to attract more talent to take part in the industries that will be needed the most in the next few decades.
University Qualification Portions
Engineering and science tend to be the most studied STEM areas at a University level. Although science, technology, engineering and maths are all in high-demand, there’s still a push to attract more students to areas like maths and technology to assist in industries including medicine, physics and research development. Currently, only 4% of STEM University students take part in a maths-related course, compared to 37% in engineering.
Over 70% of students are currently studying for a career that won’t be around in the next decade, demonstrating how fast jobs are starting to become replaced by technology and automation. Despite this, STEM careers are predicted to continue to thrive well into the future, with STEM qualified professionals also favoured by employers. In addition to this, in Australia alone, 75% of the fastest growing career paths will require STEM capabilities, with the skills they can provide valuable to almost every industry.
Jobs Set To Be Automated
The world is changing everyday and the workforce needs to be able to change with it. It’s expected that 3 million careers in Australia will be threatened by automation in the next 10 years, highlighting the importance of considering the industries that will remain strong for years to come, especially in science, technology, engineering and maths. Administration, finance, retail and accounting remain the most affected by technology and automation, with hundreds of thousands of jobs expected to be reduced or terminated completely.
accountants and bookkeepers
Finance and Insurance specialists
Of the workforce will be replaced by automation and technology over the next 10 years
Government Needs STEM Professionals
From an economic perspective, the Government is in serious need of thounsands of professionals to pursue careers in the areas that will be needed the most in the future. Based off the National Skills Shortage List and the Government’s future projections, these in-demand jobs boast huge pay incentives and plenty of job opportunities.
There’s so much to know about the STEM industry in Australia. If you want to find out more on career paths, job outcomes and industry trends, read more articles in our STEM Series and find out how you can be a part of this exciting, challenging industry.