Open account

Victorian teachers are to be the best paid in Australia. A union rebellion helped seal the deal

Victoria’s teachers have accepted a new pay-and-conditions deal after a year of bargaining, averting a planned strike and making them the highest paid teachers in Australia. The agreement delivers pay rises of 28.3% to 32.4% over four years, plus a $2,000 bonus, with early-career and experienced teachers receiving large increases. It also improves working conditions through fewer after-school meetings, more professional practice days, and more student-free days. Politically, the settlement removes near-term industrial disruption before the Victorian election and gives the Labor government a campaign win, but it adds substantial budget pressure: the deal will cost more than $5.4bn, with the latest offer adding $700m and potentially forcing further spending cuts or reliance on surplus funds.

Category

Australia 200

Sentiment

Neutral

Event

Market commentary

Reading time

1 min