I suspect a large part of the problem is Australia's very conservative investment culture. This is a country where Fortescue Metals Group was a risky investment

I suspect a large part of the problem is Australia's very conservative investment culture. This is a country where Fortescue Metals Group was a risky investment because they were building a mine, some rail road, and a port for one big iron ore project. So imagine how popular investment in developing technology is over there when it is both: 1. little understood by the investors, and 2. perceived as highly risky. So with little technology investment, there are few options for graduates, aside from work in places where technology/IT is a cost centre, not a profit centre, which depresses the salaries and increases the appeal of moving to some place where their skills are in demand and highly valued.