The minimum wage is just over $15 per hour, and with casual loading (if your workplace doesn't offer you holiday pay, superannuation, etc), it comes to around $22 per hour. That is the bare minimum, and most workplaces offer more than that. Mind you, that's for entry level unskilled jobs.
Australian Bureau of Statistics figures from late 2022 show the median weekly earnings (pre-tax) in Australia was $1,250, with median hourly earnings of $37 per hour.
If you make $22 per hour, your Yearly salary would be $43,472. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 38 hours a week.
There is no “one size fits all” plan for all but it is understood that an individual may need approximately $20,000 each year and an average family needs more than $50,000 a year to get by in Australia.
Not particularly no. Maybe for an entry level part time job for a student it would be acceptable. But for most folks it would be very close to minimum wage.
A2– The average salary in Australia is relatively high compared to many other countries due to their strong economy, high cost of living, and labor laws.
And it's certainly not enough to run a household, and pay for a decent standard of living. So Australia's minimum wage is certainly well below a true “living wage.” Minimum wage workers, especially those with any dependents, are likely to live in poverty.
While Australia is generally cheaper than the US, it's still important to understand the differences in pricing between the two countries. When comparing the cost of living, Australia ranks 10th in the world, while the US ranks 6th.
The average salary in Australia: Statistics and trends
The average yearly salary in Australia is 90,800 AUD (USD 60,355).
According to Expatistan, this means Australia is one of the most expensive places to live (ranked 10 out of 71). Generally, a higher cost of living means that basic expenses have become – well, expensive.
In Australia, a Living Wage is $27 per hour.
We believe every worker deserves at least $27 per hour before any penalty rates or casual loading.
If you make $30 per hour, your Yearly salary would be $59,280. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 38 hours a week.
The Australian middle class has a median household income of AUD$80,000. This statistic is a key indicator of the financial health of the Australian middle class.
Average Australian Salaries in 2023
A taxable income that was $131,501 or higher was within the top 10% of earners in Australia last year. About 5% of taxpayers had incomes above $180,000.
What is the minimum wage in Australia? As of 1st July 2023, the minimum wage is $23.23 per hour, or $882.80 per 38-hour week. This is a 8.6% increase of the national minimum wage.
Australia currently has the 12th highest cost of living in the world, with the USA and UK well behind at 21 and 23rd place respectively. The overall cost of living in Australia is 9% higher than the USA, but 10% cheaper than London.
Australians collected a higher median wealth per adult than anywhere else in the world at $US273,900 ($A390,870) – nearly three times the median wealth of $US93,270 ($A133,100) in the US. Australia was followed on the rich list by Belgium and New Zealand, with the US trailing behind at number 18.
Average rent around the country
A 2023 CoreLogic rental report lists the median weekly rent as $570 across all dwellings, or $594 in capital cities. Continuing on a national scale but looking at dwelling types, we can see that median weekly rent is currently: Nationally: $582 for a house.
Average House Prices in Australia averaged 657.65 AUD Thousand from 2011 until 2023, reaching an all time high of 930.60 AUD Thousand in the first quarter of 2022 and a record low of 486.30 AUD Thousand in the third quarter of 2012. This page includes a chart with historical data for Australia Mean Dwelling Price.
You will need a substantial amount of money to emigrate to Australia, both before you arrive and once you get there. Furthermore, on top of paying for all the things that you'd typically need for a move, some visas will require you to have a certain amount of money in the bank.
What is the poverty line? The OECD defines the poverty line as half the median household income. In Australia, the poverty line works out to be $489 per week for a single adult, and $1027 per week for a couple with two children.
These types of visas allow you to stay and work in Australia in all types of full-time, part-time, casual and shift work for up to 12 months. Voluntary work is also allowed. You can study for a maximum of four months in Australia in addition to working during your holiday.
Summary of cost of living in Australia: A family of four estimated monthly costs are 3,891.8$ (5,830.1A$) without rent. A single person estimated monthly costs are 1,103.1$ (1,652.4A$) without rent. Cost of living in Australia is, on average, 1.1% higher than in United States.