Business & Finance What is a 'good salary' in Australia in 2022?

[Caesar]

People often say they make a good salary, or they want to earn a good salary.

Just curious what people's definition of good is - given house prices, inflation, taxation and so forth.

 

[kickazz]

Geez too many variables, particularly regarding expenses, current wealth level and the work you are doing..

It's like asking what is a good price for a car.

Are you being asked to work long hours?
Is it highly skilled?
Do you live in inner Sydney with kids going to private schools?
Are you new or experienced?

etc

 

[Billy ray]

is good like at the top of the scale?
or is great higher?

as per above ^^ maybe there needs to be some extra parameters given.

 

[Power Raid]

I would have said a “good” salary 20 years ago was $80k. Meaning you’re a salary man lining himself up for a mortgage and the capability of supporting a family as you’re wife has a baby.

With the cost of living increases, I’d say you need $150k now.

You can do all this on less but the “good” reverts to “survive on”

 

[raskolnikov]

How long is a piece of string?

Where do you live? How big is your mortgage? Are you married or single? Do you have kids?

 

[Caesar]

Geez too many variables, particularly regarding expenses, current wealth level and the work you are doing..

I'm not asking for anything objective, consistent or even rational - just what figure springs to mind when you hear the term

 

[Billy ray]

$5.6 million. that good

 

[Gralin]

yeah $150k in Hobart and Sydney is very different

 

[Kreuuuzeurns]

I'm not asking for anything objective, consistent or even rational - just what figure springs to mind when you hear the term

The way you are describing it 80k is the figure that traditionally jumps out. However that is now a fantasy.

 

[Kram]

Even with the recent cost rises anything into triple figures is decent.

 

[craigos]

yeah $150k in Hobart and Sydney is very different

Housing aside it'd be equal, if not more expensive to live in Hobart than Sydney.

 

[Gralin]

Housing aside it'd be equal, if not more expensive to live in Hobart than Sydney.

Putting aside how big of a difference housing is.
How do you figure that?

Cost of living comparison: Australian cities 2024 | Finder

See which Australian city is the most expensive for housing, food and travel: Sydney, Melbourne, Perth, Adelaide, Brisbane, Hobart, Darwin, Canberra.

www.finder.com.au

 

[craigos]

Putting aside how big of a difference housing is.
How do you figure that?

Cost of living comparison: Australian cities 2024 | Finder

See which Australian city is the most expensive for housing, food and travel: Sydney, Melbourne, Perth, Adelaide, Brisbane, Hobart, Darwin, Canberra.

www.finder.com.au

Because I've lived and worked in both. I mean where are they even getting their data from in that article? And look how it's insanely skewed because Chicken Breast is really expensive in Sydney.

0.5 litre domestic beer in the supermarket? Lol.

 

[kickazz]

Geez google gives you all sorts of answers, even on supposedly objective things like average or median.

 

[kickazz]

I recon for most people, a good salary is about 10 to 20 percent more than what they currently get.

 

[Gralin]

Because I've lived and worked in both. I mean where are they even getting their data from in that article? And look how it's insanely skewed because Chicken Breast is really expensive in Sydney.

0.5 litre domestic beer in the supermarket? Lol.

Yes your anecdote is definitely going to sway me.
Sydney is the most expensive city in Australia, then Melbourne, then Brisbane.

Its not even close.
Housing is a massive part of that but you kind of can't avoid the cost can you

 

[phantom13]

People often say they make a good salary, or they want to earn a good salary.

Just curious what people's definition of good is - given house prices, inflation, taxation and so forth.

I’ll give it a straight up answer (I get the caveats but it’s also not that hard to just go with a figure that pops into your head).

I’d say $100k is always my threshold for “good”.

 

[phantom13]

Because I've lived and worked in both. I mean where are they even getting their data from in that article? And look how it's insanely skewed because Chicken Breast is really expensive in Sydney.

0.5 litre domestic beer in the supermarket? Lol.

So have I and this is ridiculous.

Sydney is by far away more expensive in every facet.

 

[Billy ray]

100k in 2010 and 150k now.
But so many variables.
150k for a single is great
150k for family of 4 using childcare or with kids at home and one of mum or dad at home not as great

 

[Gralin]

I recon for most people, a good salary is about 10 to 20 percent more than what they currently get.

And it keeps that far in front of you

 

[Gralin]

Yeah I said $100k but with the way prices are goiing up....

 

[Kram]

100k in 2010 and 150k now.
But so many variables.
150k for a single is great
150k for family of 4 using childcare or with kids at home and one of mum or dad at home not as great

Compared to when I was younger I actually don't earn that much at all atm overall just doing different bits and pieces but I'm quite comfortable because..

1. No kids
2. Live quite simply and sensibly out in the country
3. No loans
4. Earnings are supplemented with prudent investments

Just moving back to the city for example would instantly change this though..

 

[Gralin]

Compared to when I was younger I actually don't earn that much at all atm overall just doing different bits and pieces but I'm quite comfortable because..

1. No kids
2. Live quite simply and sensibly out in the country
3. No loans
4. Earnings are supplemented with prudent investments

Just moving back to the city for example would instantly change this though..

When I was single I got my first place with an income of $50k, it was a very small 2 bedroom place, pretty much 3 rooms total.

It was fine for a couple and we made it work with a new born, I'd probably still be there without kids.

 

[tenderwarrior]

A good salary is more about your expectations and values than need. I have friends complaining about their income being 60k, but they have an 80k 4x4, and over 100k of other unused toys in their garage and are over 500k in mortage debt.. and I know families on job seeker and the FTB getting less than 35k who are pretty happy..

.. I am in my early 40's, earn less than 100k but have no dependents, have less than 50k mortage debt, and have a job that is very much 9-5 weekdays with no extra stress. Do I want more? Sure! Do I think it will make my life 'better? No, not really..

.. I also work in community services, and I see people in hardship every day from ALL walks of life.. my take is that $$ is a poor substitute for supportive social and family connections. If I was up s**t creek I know which one I would want in my corner!

 

[Roo096]

Having a good salary is one thing what you do with it is another you don’t need to earn 6 figures to get by.Being able to budget is such an important skill to have one which kids should be taught at school.