The cost of living in Sydney can be quite high, so the amount of salary needed to live comfortably can vary depending on an individual's lifestyle and spending habits. However, a general estimate for a comfortable living in Sydney would be around AUD 70,000 to AUD 100,000 per year.
You'll need to earn between A$5,000 and A$6,000 per year, or approximately A$95,000 before taxes, in order to live comfortably in Sydney. So, before investing time in a transfer to this pricey metropolis, you'll need to be sure your income is safe.
A salary of $80,000 to $100,000 is sufficient to maintain a comfortable standard of living in Sydney and other major Australian cities. It's above the norm in that respect. After paying taxes on a salary of AUD 100,000, you'll take home about AUD 75,813, or AUD 6,259 per month.
'I can tell you $200k, if you are a single person living in Sydney, is ample - you will be able to live a very comfortable life.
The general consensus is that today, it is very difficult to live on the minimum wage in Australia. In 2021, the minimum wage was $3,090.40 per month. In 2019, the living wage was estimated to be $1,180 to $1,900 per month for a single adult. For a typical family, this can vary from $1,730 to $2,980.
It's true that many families make $60,000 or even less and this works for them. It's also true that other families struggle to make ends meet at this income level. Realistically speaking, $60,000 is not enough to support a family of four in Sydney, Melbourne, or another expensive city.
The average household (family) income in Australia is over a $100,000 per year. Average single person income is about $75,000. A married person with children has more than “a reasonably good quality of life” on $100,000+ per year. A single person has more than “a reasonably good quality of life” on $75,000 per year.
Sydney. Sydney has the highest average rent in the country, with the median increasing by more than 13% over the past year to $711 a week.
All in all, only two percent of Australia's 14.3 million workers take over $200,000 a year. Only three percent of Australians earn $188,667.
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.
Just 3.8 per cent of taxpayers had a taxable income that high in 2019-20. And only 25 per cent had a taxable income higher than $80,000 a year. So a taxpayer with an annual income of $80,000 is in the top quarter of Australian taxpayers.
So if you're on $100k or more, congratulations, you're in the top 20% of Aussie income earners. If not, don't worry, you're in the good company of 80% of Aussies.
According to the ATO, the top 1% of income earners in Australia start at $237,300 but average $438,100. Inspired by this article from the US, readers asked me to do an Australian version. Below I interviewed some households with incomes above $250,000 for singles or above $400,000 if a couple.
Anyone earning $180,000 would definitely be one of the country's highest paid workers. The large majority of workers (about 75 per cent) earn less than $78,624 a year before tax.
Cost of Living Comparison Between New York, NY and Sydney
You would need around 6,653.3$ (10,006.5A$) in Sydney to maintain the same standard of life that you can have with 9,600.0$ in New York, NY (assuming you rent in both cities).
Hope this helps. I think it's very good, but could be because I am from the health industry, if you are in banking and finance or IT this could be average. According to payscale.com, the average salary in Sydney is around $76k per year. So yes, $150k is a good salary.
The amount of money it takes to make it into the top 1 per cent of the wealthiest Australians has doubled to $8.25 million since 2021, according to a new report. The increase means the amount of money you need to be part of Australia's top echelon of wealth ($US5.
The average Australian would need to earn a salary of $326,900 per year to feel rich – nearly seven times the median wage, according to research released earlier this year. But one in four Aussies wouldn't consider themselves rich until they raked in a whopping $500,000.
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.
Analysts say open borders and increased migration have driven demand for real estate – and increases in rental prices. What matters for rents, as for any price, is the demand for and the supply of the product being priced. More demand (more renters wanting properties) and the price climbs.
Housing rental increases were more subdued compared with units, with Sydney also leading the way in the past quarter. Median houses rents in the harbour city reached $700 in the April-June period, up 6.1% from the previous three months to be 12.9% higher than a year ago.
Sydney's median unit price is $776,780. Sydney is widely regarded as Australia's most expensive capital city for property. The EIU's latest Worldwide Cost of Living survey ranks Sydney as the 10th most expensive city in the world to live.
The top 20% richest individuals have annual pre-tax incomes of about $330,000, the middle 20% make about $116,000 while the lowest 20% earn $41,000. In terms of income from investments, the biggest chunk is concentrated at the topmost. Close to 70% of investment income goes to the 20% most moneyed households.
The average salary in Australia: Statistics and trends
The average yearly salary in Australia is 90,800 AUD (USD 60,355).
How much money do you have saved? Well, according to new data, the average Aussie has $34,507 stashed away. Aussie men aged 50-64 had the most saved at $106,236, according to the new data from NAB. Meanwhile, young women aged 18-29 had the least amount stashed away, at $11,153.