Business & Finance Salaries

[Rod Stroker]

After reading the uni and working threads on here, there are posts containing
"modest wage", "decent salary", "extraordinarily well paid", etc.
I haven't worked in Oz for many years so I'm curious to know what peoples interpretation of these terms are in dollar values (I could be heading back in the future).
Of course I realize the values are relative to experience, age, seniority, niche, etc.
And this isn't meant to be a pissing contest. I don't expect people to disclose their own salaries.

So what does "modest wage", "decent salary", "extraordinarily well paid", etc, really mean?

 

[Bombers_Forever]

I think I read somewhere the 'average' wage these days is $50K. I don't believe that figure myself.

 

[centrelink1]

I think most careers earn more than that, tbh.

 

[Rod Stroker]

What do you believe it to be? And what does "average" mean? i.e for what sort of jobs?

I've read that 50K is the typical starting graduate wage for a professional position these days. Which to me sounds about right, given that the typical starting wage for a professional was about 35K when I was a grad back in 1998.

 

[TownleyTime]

I'd say $60 to $65 K is the average salary these days, without checking the stats.

 

[Sheeds]

It is a very good question and one I am currently asking myself at the moment.
I am currently investigating my options as I want to leave my current job asap and I am struggling. Both to find something I am happy with which I guess is often the case with a job and something that I think is fair financially.

I do not expect to walk into a job at million dollars a year or anything but I got offered a banking job only a week ago in a branch role at 39,000 which was considered "fair" with my experience. I have been in the banking and financial sector for 5 years and also completed a degree in Business Economics at Uni. Surely it is not too much to ask to be looking at atleast 45000 to 50,000.

 

[Messenger]

It is a very good question and one I am currently asking myself at the moment.
I am currently investigating my options as I want to leave my current job asap and I am struggling. Both to find something I am happy with which I guess is often the case with a job and something that I think is fair financially.

I do not expect to walk into a job at million dollars a year or anything but I got offered a banking job only a week ago in a branch role at 39,000 which was considered "fair" with my experience. I have been in the banking and financial sector for 5 years and also completed a degree in Business Economics at Uni. Surely it is not too much to ask to be looking at atleast 45000 to 50,000.

It is not really your experience that matters to them in that regard, it's how many others they could look at with similar experience and qualifications. Did you ask for more than 39k?

 

[ben_09]

It is a very good question and one I am currently asking myself at the moment.
I am currently investigating my options as I want to leave my current job asap and I am struggling. Both to find something I am happy with which I guess is often the case with a job and something that I think is fair financially.

I do not expect to walk into a job at million dollars a year or anything but I got offered a banking job only a week ago in a branch role at 39,000 which was considered "fair" with my experience. I have been in the banking and financial sector for 5 years and also completed a degree in Business Economics at Uni. Surely it is not too much to ask to be looking at atleast 45000 to 50,000.

WTF? 39k is robbery. I have a few friends that work in banks and they are all making at least 10k higher than that and that is with no university degree. Possibly WA banks pay more? It's an insult to offer you that imo considering most graduates are on 45-50k and not to mention the factor you have a degree and 5 years exp.

Mind is blown.

 

[THRILLHO]

As a starting graduate I was earning $55 000. I'd say that's above average for a graduate but only average to slightly above average for a standard salary.

 

[BarneyBent]

I'd say 50K is about average, 100K and you're doing great, 150K and you're set.

 

[Rod Stroker]

150K and you're set.

set for what? A higher tax bill?

 

[BarneyBent]

set for what? A higher tax bill?

Yes. You're also set financially. At that sort of level, you don't have to worry about the financial basics. 100K, you can still fall into the occasional hole, get a bit of worry, etc, but at 150K you're pretty safe. This is assuming a family of maybe 2 kids.

Obviously, different people in different situations will have different financial needs and pressures.

 

[saint_larry]

Average full-time earnings in Australia were $64,641 per annum in 2010. (According to the Bureau of Statistics.)

http://www.emigratetoaustralia.org/average-wages-australia.html

thank you google.

 

[centrelink1]

Cheers Larry.

Australian Capital Territory $75,514
Western Australia $70,101
New South Wales $65,863
Queensland $63,840
Victoria $62,847
Northern Territory $61,870
South Australia $59,176
Tasmania $55,255


Lol.

 

[grizzlym]

According to the latest Nielsen data the average family unit in Australia exists on around $69,000. I suspect this also includes the Government middle class welfare. The highest starting graduate salaries (off memory) is in dentistry.

 

[rofltown]

I make 56k as a grad

been working 3 weeks now

most banks and consulting firms pay slightely higher than this as do Telstra (I'm in IT)


I won't say which company I work for but it's one of these ones: HP EDS, IBM, Accenture or Unisys

 

[Caesar]

There's also a big difference in metro areas due to the ridiculous cost of living, particular at the lower/median wage points. I know guys who've moved from Newcastle to Sydney and gone from packages of just under $40K to over $60K for the same job, purely due to increased living expenses.

 

[ben_09]

I make 56k as a grad

been working 3 weeks now

most banks and consulting firms pay slightely higher than this as do Telstra (I'm in IT)


I won't say which company I work for but it's one of these ones: HP EDS, IBM, Accenture or Unisys

The suspense is killing me

 

[Herne Hill Hammer]

I think you'll find too that those average salaries listed include, doctors, lawyers, airline pilots, engineers etc etc. Take out the top few percent and it drops the average markedly.
Shit these days, tradies, in particular the ones working in mining would boost the overall average significantly too.
Labourers working on the Wonthaggi desal plant are probably nudging 6 figures and even above.

 

[rofltown]

The suspense is killing me

?
I just don't want anyone to recognize me since I gave my starting date and I say a lot of stupid douchey things on here.

And I said it was one of those 4 companies to give people an idea of the salary they can expect as a grad at a IT services/consulting company.

What's your problem?



And yes 56k in Melbourne would be a struggle to live on independently.

 

[grizzlym]

I think you'll find too that those average salaries listed include, doctors, lawyers, airline pilots, engineers etc etc. Take out the top few percent and it drops the average markedly.
Shit these days, tradies, in particular the ones working in mining would boost the overall average significantly too.
Labourers working on the Wonthaggi desal plant are probably nudging 6 figures and even above.

Yes, the trades comprise a new demographic these days - affectionately known as cashed-up bogans. Think Shane Warne, jet skis, hot tubs, home theatre systems, 'sports car' utes, McMansions etc.

It's an affluent demographic who spend quite a bit of their income on 'toys'. More so than other demographics. What's also interesting about the demographic is the wealth shift these professions have experienced in the past 30 years. They're basically the same psychographic, but have moved up the economic scale. Plumbers are more likely to buy houses in Hawthorn as lawyers.

 

[Simple Jack]

I think you'll find too that those average salaries listed include, doctors, lawyers, airline pilots, engineers etc etc...

This is based on an old stereotype. Apart from Qantas pilots who deserve to be classed with docs, lawyers etc, no other Australian airlines pay as well as is percieved.

I.e. If you join Jetstar as a cadet (ie from no experience, and being put straight into a jet job without having to build experience etc).
They charge $160,000 to do your training, which you can salary sacrifice roughly half of.

You then are employed by a NZ based "crewing" company where you earn roughly $63k NZD ($48k AUD) of which you salary sacrifice about 16k AUD leaving you with 32k per annum to live in Melb/Syd/Adel etc.

Compare that to a doctor or lawyer.

 

[Selective Retention]

I think you'll find too that those average salaries listed include, doctors, lawyers, airline pilots, engineers etc etc. Take out the top few percent and it drops the average markedly.
Shit these days, tradies, in particular the ones working in mining would boost the overall average significantly too.
Labourers working on the Wonthaggi desal plant are probably nudging 6 figures and even above.

It is also full time figures so that wipes out a lot of the bottom end that are permanent part time etc as well.

 

[Dan Moody]

It is a very good question and one I am currently asking myself at the moment.
I am currently investigating my options as I want to leave my current job asap and I am struggling. Both to find something I am happy with which I guess is often the case with a job and something that I think is fair financially.

I do not expect to walk into a job at million dollars a year or anything but I got offered a banking job only a week ago in a branch role at 39,000 which was considered "fair" with my experience. I have been in the banking and financial sector for 5 years and also completed a degree in Business Economics at Uni. Surely it is not too much to ask to be looking at atleast 45000 to 50,000.

do you work in one of the big 4? jesus that's a low figure for 5 years exp, my lowest paid staff member is paid $44500 pro rata. you could walk into $50k as a personal banker at one of the big 4.

I think you'll find too that those average salaries listed include, doctors, lawyers, airline pilots, engineers etc etc. Take out the top few percent and it drops the average markedly.
Shit these days, tradies, in particular the ones working in mining would boost the overall average significantly too.
Labourers working on the Wonthaggi desal plant are probably nudging 6 figures and even above.

i have tradie customers that are working down at wonthaggi who are on $140k, earning a ****ing fortune PLUS allowances!

 

[darcytiger]

This is depressing...