Feds make case for rural bank lending probe
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
A new report shows farm employers across the dairy, sheep and beef, and arable sectors have continued to invest strongly in one of their greatest assets – their staff.
The 2024 Federated Farmers-Rabobank Farming Salaries Report, released today, shows that since the last report in 2022, the average salary for a farm worker has increased by $7,480 to $71,411 and the weighted average annual salary across the 13 surveyed on-farm position categories has grown by 13%.
“For some more senior roles, the increases have been significantly higher,” Federated Farmers national board member and employment spokesperson Richard McIntyre says.
For example, the average salary for a dairy herd manager is up 19% to $74,185. A sheep/beef farm manager is earning an average 22% more than two years ago ($88,381) and the average income for an arable farm manager is up 28% to $101,264.
McIntyre says the increases are impressive, especially considering all the headwinds farmers have contended with over the past two years which have included Covid, severe weather events, production-suffocating red tape, inflation and roller-coaster commodity prices.
“And these upwards salary movements underline that careers in agriculture are not only satisfying, but also pay-competitive,” he says.
This 2024 report is the 14th Farming Salaries report that Federated Farmers and Rabobank have produced. The report collates the results from a remuneration survey conducted by independent firm Research First in early 2024, and the findings cover data collected from 529 farm employers relating to nearly 1800 employees.
The report shows that between 2022 and 2024, weighted average salaries rose by 11 per cent for dairy sector roles, by 17 per cent for sheep and beef roles, and by 14 per cent for arable roles.
McIntyre said the report also highlights strong growth in Total Package Values (TPV) for farm employees.
"The salary figures do not include the range of other benefits provided to farm employees, which can include things like vehicle usage, meat, firewood, phone and power allowances,” he says.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
Family and solidarity shone through at the 75 years of Ferdon sale in Otorohanga last month.
The Ministry for Primary Industries (MPI) has informed staff it will cut 391 jobs following a consultation period.
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