The Australian Bureau of Statistics have released new figures on the average earnings for Australians – which currently stands at $60,892.
The ABS has also published earnings per age group – so now you can compare how much you earn with others in your age bracket.
It’s a revealing story…
The stats, which were recorded in may 2016, show people in their late teens earning around $1,850 per month. By the time you’re 21 to 24, the figure almost doubles to $3,027 per month.
Naturally, as your experience and skills broaden, your salary increases.
By the time you reach 55 to 64, you can expect to be earning $5,286 a month. But the statistics show that earnings appear to plateau by the time people hit their mid-thirties.
The jobsite Seek also released data of the highest paying jobs in Australia. Miners earn an average $133,169 annually while architects make $137,707 on average.
Other high salary jobs include engineers, IT managers as well as GPs.
The one thing we know about average salaries is that often very few actually earn them.
A miner earning just $4,000 less than an architect looks, at first sight, like an aberration.
So where do you stand? Tell us if your salary matches the ABA figures!