What is the average salary in Australia?

by Time Doctor
average salary in Australia

The average salary in Australia for 2024 is 7,600 Australian dollars (AUD) per month. That’s approximately USD 5,015 per month, according to the exchange rates in July 2024. 

Interestingly, the average monthly salary in Australia is lower than in the United States (USD 7,920 per month) and the United Kingdom (USD 7,656 per month)

This article will cover Australia’s average and median income and the mandatory minimum wage. We’ll also go through average income increments and factors that influence salaries. Finally, we’ll explore a few of the top-paying industries in the country. 

Table of Contents

Let’s get into it! 

The average yearly salary in Australia is 91,200 AUD (USD 60,185). 

Let’s go through a few key indicators of the average earnings in Australia so you can fully understand salary statistics and trends in the country. 

A. Median salary

The median salary in Australia in 2024 is 6,675 AUD (USD 4,405) per month. 

The median salary refers to the middle value of all the salaries considered. In other words, around half of the population in Australia earns less than 6,650 AUD per month, while the other half earns more. 

B. Average salary range

On average, salaries in Australia can range from 1,961 AUD (USD 1,294) per month all the way up to 33,750 AUD (USD 22,272) per month. 

Note: These figures are average estimates. The actual lowest salary in Australia may be lower than 1,961 AUD per month, and the actual highest salary in Australia may be higher than 33,750 AUD per month. 

C. Minimum wage

According to the Australian Bureau of Statistics, Australia has a national law requiring a minimum hourly wage of 24.10 AUD (USD 15.90) for part time as well as full-time workers. 

Interestingly, the minimum wage in Australia is higher than the minimum hourly wage in the United States (USD 7.25 per hour). 

Australia also has a higher basic wage than the United Kingdom, which pays its workers GBP 11.44 (USD 14.75) hourly. 

Note: This minimum basic wage is the lowest remuneration an employer should legally pay a full time or part time Australian worker. According to the Fair Work Commission, an employment contract must not stipulate a figure that is a cent lower than the minimum wage. The Fair Work Commission handles workplace disputes. 

It is also compulsory for employers to contribute towards the superannuation of any Australian worker. Superannuation refers to an employee’s retirement pension award and other benefits funds. 

What about wage growth in Australia?

According to the Australian Bureau of Statistics, minimum wage growth in Australia is strong, as the average weekly earnings increased from 20.33 AUD to 21.38 AUD over the past year. 

D. Annual salary increment rate

In Australia, employees are likely to receive average salary growth of 8% every 16 months

The term annual salary increment refers to 12 months. However, it’s unlikely that an employee will receive a salary increment at exactly the one-year mark.  

That said, this figure varies between different industries and can be changed by an agreed-upon employment contract. 

Here are some salary increments across different industries in Australia:

Industry sectorAnnual increment
Healthcare 9%
Construction 7%
Banking 8%
Information technology9%
Education 8%

Source: Salaryexplorer.com

Note: The above average figures give us a sneak peek into the standard of living in Australia. The salary and wage figures provided in this article are simply guidelines based on salary surveys. Actual salaries and wages may vary based on location, years of experience, education, job title, and other mitigating factors.

Let’s look at them in detail. 

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4 factors influencing salaries in Australia

The average salary in Australia is simply a general reflection of income in the country. 

In fact, individual Australian salaries vary widely based on factors like education level, work experience, and age. 

Let’s see how each factor influences salary earnings in Australia.

A. Education

The higher the level of education, the higher the salary income in Australia. 

A Salaryexplorer survey revealed that: 

  • An employee with a certificate or diploma earns on average a 17% higher salary than those who only reached the high school level.
  • Graduates with a Bachelor’s Degree or certificate IV see around 24% salary growth than those with a certificate or diploma.
  • Professionals who obtained a Master’s Degree earn approximately 29% more than those with a Bachelor’s Degree.
  • And finally, Ph.D. graduates earn about 23% more than Master’s Degree holders.

B. Experience

The more experienced an employee is, the better their chances of getting a higher salary in Australia. 

Here are salary variances by experience level: 

  • Employees with two to five years of experience tend to earn 32% more than newcomers.
  • Employees with over five years of experience earn, on average, 36% more than those with less than five years of experience.
  • Employees with ten years of experience earn an average of 21% more than those with less than ten years of experience. 
  • Finally, earners who have crossed the fifteen year mark earn approximately 14% more. 

C. Industry and occupation

Different industries and professions demand different skills, work hours, and more. As such, average salaries will differ depending on occupation or industry sector.

Here are the average salaries of some prominent jobs in Australia:

Job titleAverage annual salary
Chief executive officer (CEO)204,000 AUD (USD 134,622)
Pilot160,000 AUD (USD 105,586)
Project manager116,000 AUD (USD 76,550)
Architect 109,000 AUD (USD 71,930)
Civil engineer 88,800 AUD (USD 58,600)
Teacher74,800 AUD (USD 49,361)
Registered nurse72,600 AUD (USD 47,909)
Accountant 66,100 AUD (USD 43,620)
Secretary 43,800 AUD (USD 28,904)

Source: Salaryexplorer.com

Here are how different industries pay in Australia: 

Industry Average annual salary 
Science and technical services 118,000 AUD (USD 77,869)
Real estate 99,900 AUD (USD 65,925)
Information technology93,600 AUD (USD 61,768)
Insurance services90,000AUD (USD 59,392)
Human resources 87,500 AUD (USD 57,742)
Oil/energy/mining 85,200 AUD (USD 56,224)
Telecommunications84,800 AUD (USD 55,960)
Engineering 77,000 AUD (USD 50,813)
Automotive 67,900 AUD (USD 44,808)

Source: Salaryexplorer.com

In Australia, salaries also vary based on the sector of employment. Public sector employees earn 5% more than those working in the private sector.

D. Location

Average salary income for an Aussie may also vary depending on which city and state they live in. 

For example, employees in South Australia tend to earn less than employees in Western Australia. The Australian capital territory is the highest-earning region in the country. 

Let’s look at some of these figures.

i. Average salary by state:

StateAverage annual salary
Victoria65,000 AUD (USD 42,894)
New South Wales (NSW)65,000 AUD (USD 42,894)
Queensland 62,970 AUD (USD 41,554)
Tasmania55,900 AUD (USD 36,889)

Source: ABS.gov

ii. Average salary by city:

CityAverage annual salary
Sydney108,000 AUD (USD 71,270)
Melbourne 106,000 AUD (USD 69,950)
Brisbane 104,000 AUD (USD 68,631)
Adelaide 101,000 AUD (USD 66,651)

Source: Salaryexplorer.com

Note: Salary is one of the most important contributors to the total income. As such, the average median household income (Purchasing Power Parity) in Australia was 95,371 AUD (USD 63,393) for the year 2021. This puts Australia in the top 10 countries for the highest median household income. 

Let’s explore some of the most popular industries with high-earning potential in Australia.

5 high-potential industries in Australia

These five industries are considered to have the potential for high earnings in Australia: 

  • Mining: The mining industry in Australia has experienced massive growth over the past few years due to increased iron ore prices
  • Electricity, gas, water, waste services: The electricity industry in Australia is undergoing an important transformation as the country moves away from fossil fuels towards a wide array of wind and solar generators. 
  • Construction: The construction sector accounts for approximately 9% of Australia’s GDP and also has a predicted annual increase of 2.4% in the coming years.
  • Wholesale trade: The wholesale trade industry sits comfortably within the top 15 employing industries in Australia. 
  • Manufacturing: Manufacturing has been a volatile industry, yet it is still one of the biggest revenue generators in the country. 

How much can you earn working in these industries

IndustryAverage weekly earnings 
Mining industry2,675 AUD (USD 1,765)
Electricity, gas, water, waste services 1,922 AUD (USD 1,268)
Construction1,574 AUD (USD 1,038)
Wholesale trade 1,340 AUD (USD 884) 
Manufacturing 1,335 AUD (USD 880)

Wrapping up

The average salary in Australia is on a steady upward trend, even though it’s still slightly lower than the average earnings in the United States and the United Kingdom.

That said, the mining, electricity, construction, trade, and manufacturing industries pay the highest average salaries in this country. 

Use the information in this article to understand the average Australian salaries and the factors influencing monthly earning in the country.

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