Ruqayyah Snyder
In Australia, a salary of 135k can be considered good, depending on factors such as age, industry, location, and cost of living. For example, a salary of 135k for a mid-level engineer in Western Australia may be reasonable, while for someone in the arts or social work, 60k is more common. Additionally, salaries in certain sectors, such as oil and gas or utilities, tend to be higher, while salaries in equipment and packaging may be lower. Furthermore, salaries in New South Wales and Victoria tend to be higher than in other states. When evaluating if 135k is a good salary for two people in Australia, it's important to consider the combined income and shared expenses, as these can significantly impact the overall financial situation and lifestyle.
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What You'll Learn
Cost of living
The cost of living in Australia varies depending on location and lifestyle. While Aussies are known for their laid-back, low-key lifestyle, the cost of living might be higher than you may realise.
Sydney is one of Australia's more expensive cities to live in. With an average monthly salary of $6,833, basic utility costs of around $327.19 per month for an 85m2 apartment, and rental costs of about $327.19 per month for a one-bedroom apartment, Sydney's cost of living rates are significantly higher than in other cities across Australia.
In Brisbane, the monthly costs for a family of four are estimated to be around $8,574 without rent, while the average monthly costs for a single person are estimated at $5,110. Brisbane is noted to be 15.2% less expensive than Sydney overall, and rental prices are 31% cheaper. Brisbane residents pay an average of $206.37 in utility bills each month for an 85m2 apartment, and the rental for a one-bedroom apartment in the city centre is roughly $2,354.82 per month. The average net salary in Brisbane is $5,964.25 per month.
Perth is estimated to be about 14% less expensive than Sydney. Monthly expenses for a family of four are roughly $5,513.50 without rent or $1,536.70 for a single person. Rent in Perth is, on average, 32.7% lower than in Sydney.
Childcare can be expensive, depending on where you live. The average daily cost for childcare across Australia is $135.29, but in some parts of the country, parents pay up to $430 per day. While there are subsidies available for Aussie families, these are means-tested, so the eligible amount varies greatly from family to family.
According to CoreLogic Data, homeowners need to set aside 46.2% of their income to service their mortgage repayments. This is one of the biggest factors to consider when it comes to the cost of living, especially if you are entering the property market for the first time.
Sports, fashion, and entertainment costs are not generally associated with the cost of living. However, these are costs that most people indulge in semi-regularly.
The median salary in Australia is around $77,000 per year. A salary of $135,000 per year would be considered high, and you should be able to live comfortably on this salary, depending on your lifestyle and location.
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Salaries for couples
For couples moving to Sydney, Australia, a salary of 135k can be sufficient, depending on your lifestyle choices and whether both partners are earning. If you're planning to start a family with one breadwinner, you may find it challenging to buy a house near the CBD, but you can still rent a nice apartment and maintain a comfortable lifestyle.
With a single income of 135k, you may need to make some compromises, especially if you're looking to buy property in Sydney. Consider your priorities and whether you're willing to live further out or share accommodation to reduce costs.
On the other hand, if both partners are earning 135k, you'll be in a much stronger financial position. You may still find it challenging to buy a house near the CBD, but your combined income will allow for a more comfortable and flexible lifestyle.
It's important to remember that the cost of living in Sydney is high, and your purchasing power will depend on your expenses and lifestyle choices. Creating a budget and exploring accommodation options through local resources will help you make informed decisions about your living arrangements.
Additionally, consider the tax implications, as your take-home pay will be lower than the gross income. Understand the tax rates, deductions, and allowances applicable to your situation to get a clearer picture of your disposable income.
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Salary by profession
The industry with the highest average salary in Australia per month and year for full-time employees is the mining industry, where salaries can be influenced by the demand for specific skills. For example, a senior contract worker in Western Australia can make around $95-115 per hour, while a mid-level worker can earn around $75-85 per hour. A reasonable salary for a mid-level discipline engineer is $130-150k per year, while a solid engineering manager should make $240-280k.
In the software engineering field, an entry-level position may earn around AUD 100,000 annually, while a senior software engineer can make around AUD 173,910.
Other sectors with high average salaries include public administration and safety, professional and technical services, and financial and insurance industries. Jobs in these sectors can range from legal services to banking and financial broking.
Education level can also influence salary prospects. According to the Australian Bureau of Statistics, the average weekly earnings for different education levels in 2022 varied, with tertiary-qualified individuals earning more on average. However, there are still many career opportunities for those without tertiary qualifications, such as in the hospitality industry, retail, and administrative and support services.
Location and level of work experience are additional factors that can affect salary across professions in Australia.
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Salary by state
The average yearly salary in Australia is AUD 88,991, with a median salary of AUD 6,675 per month. The minimum hourly wage in Australia is AUD 24.10, which is higher than the minimum hourly wage in the United States and the United Kingdom.
Salaries in Australia vary based on the sector of employment and the state. The Australian Capital Territory (ACT) is the highest-earning region in the country, with an average salary of AUD 100,016 before tax per year. The gender wage gap in Australia has been declining, narrowing to 11.5% in May 2024, down from 12% in November 2023.
In August 2024, Perth had the highest median weekly earnings at AUD 1,500, followed by Melbourne at AUD 1,450 and Sydney at AUD 1,416. Outside the capital cities, the highest median weekly earnings were in regional Western Australia at AUD 1,442, while the lowest was in regional South Australia at AUD 1,100.
In terms of occupations, the groups with the highest median weekly earnings in August 2024 were Chief Executives, General Managers, and Legislators at AUD 2,669. Specialist Managers earned AUD 2,400, while ICT Professionals earned AUD 2,284. The lowest-earning groups were Food Preparation Assistants at AUD 368, Sales Support Workers at AUD 600, and Sales Assistants and Salespersons at AUD 600.
A salary of AUD 135,000 for two people in Australia can be considered comfortable. After-tax income for this salary is approximately AUD 96,000, or AUD 1,841 per week. This allows for renting a nice one-bedroom place and having a decent amount left for bills and other expenses.
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Salary increases
A salary of AU$135k can be considered good for two people in Australia, depending on their lifestyle, location, and financial obligations. This amount can provide a comfortable living standard, especially if shared between two people, as it allows for renting a nice place and covers other expenses.
Now, onto the topic of salary increases in Australia. Salary increases in Australia have varied across different sectors and occupations. According to SEEK data, analysts in government and defence have witnessed the most significant wage growth, with salaries increasing by 26.8% to an average of AU$130,117. Taxation consultants in accounting followed closely with a 24.5% increase, reaching AU$95,375 annually. Operations analysts in banking and financial services experienced a 21.1% bump, bringing their average salary to AU$98,301.
Maintenance managers in manufacturing, transport, and logistics have seen their salaries increase by 19% to AU$146,613. Electrical engineers in mining, resources, and energy have secured an 18.3% raise, pushing their average salary to AU$165,917. Project administrators in construction have benefited from a 16.8% increase, resulting in an average salary of AU$92,788.
It's worth noting that these salary increases are well above the average wage growth across all industries in Australia, which has been around 3.4%. Additionally, the national minimum wage in Australia also received a boost, with a 3.5% increase to AU$24.94 per hour or AU$915.90 per week, aimed at addressing the reduction in the real value of wages due to inflation since 2021. This decision was praised by the Australian Council of Trade Unions secretary Sally McManus, who noted that it provides one of the largest real wage increases.
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Frequently asked questions
It depends on several factors, such as age, location, and industry. In Australia, the median salary is around 77k, so 135k is considered a good salary for two people. However, salaries in Australia vary depending on the state, with the median salary typically higher in New South Wales and Victoria. Additionally, certain industries, such as mining, tend to pay higher salaries.
A good salary for a single person in Australia depends on various factors, including age, qualifications, and cost of living in the specific city. In Sydney, a single person earning $130k can rent a 1-bedroom apartment in a nice suburb and have a decent amount left for bills and other expenses. However, sharing accommodation can significantly reduce living expenses.
Unfortunately, I cannot provide a comparison to other countries as the query is location-specific to Australia. However, it is important to note that salaries in Australia have not kept up with the high inflation rates in recent years.
