A rich salary varies, but in Australia, surveys suggest needing $250,000 to $400,000+ annually to feel rich, while top 1% incomes start around $375,000, though perception depends heavily on location, lifestyle, age, and assets, with rising costs pushing the threshold higher.
In 2022 the median income in Australia was $65,000 a year according to the Australian Bureau of Statistics. Anyone making less than this amount would be considered working class. Anyone making more than $137,000 falls in the top 10% which is considered upper class.
To keep things simple, let's consider where the Internal Revenue Service (IRS) sets the bar for the top 1% of earners first. According to a 2025 SmartAsset study, you need $731,492 to be in the top 1% of earners nationwide. An annual income anywhere in the vicinity of that figure would certainly make you rich.
If you're earning $200K a year, congratulations—you're doing well. But there's one downside: a big chunk of your hard-earned income is going straight to the ATO. Without the right strategy, you could be handing over tens of thousands more than necessary.
According to ABS data, just 2.61 million Aussies – or about 10 per cent of the population – earn $100,000 or more a year. Many people will never reach a six-figure income in their working lives.
Yes, $130k is a very good salary in Australia, placing you well above the median income and in the top earnings bracket, but whether it's "comfortable" depends heavily on your location (high-cost cities like Sydney/Melbourne vs. regional areas) and lifestyle, as high rents can still strain finances, though it generally allows for a solid middle-class life with budgeting.
Most Americans Earn Far Less Than $100k
According to last year's YouGov data, only 18% of U.S. adults earn more than $100,000 annually. And the biggest earners are mostly men—25%—and those aged 35 to 44—25%. For comparison, just 12% of women make six figures.
Jobs paying $150k+ in Australia span various sectors, including Tech (Senior Business Analysts, IT roles), Healthcare (Podiatrists, Clinical Managers), Construction & Trades (Construction Managers, Electricians, Site Supervisors, Drillers), Finance (Finance Managers, Financial Planners, Accountants), Sales, and Leadership (HR Directors, Operations Managers, School Principals, Government Directors). High-demand areas often involve senior or specialized roles in Engineering, Mining, Digital Marketing, and Management, with opportunities both with and without degrees.
On average, Australians consider a 'good' base salary to be around $152,775 per year, according to a survey of just over 1000 respondents by comparison website Finder. Younger Australians have significantly higher salary expectations than other age groups.
Over one quarter, 28.5%, of all income was earned by the top 8%, those households earning more than $150,000 a year.
Adding some of these habits into your daily routine might help you get on track to becoming an everyday millionaire yourself!
Here's a wealth class framework described by Bo Hanson, CFA, CFP® that breaks out 5 groups by net worth: the bottom 25%, the lower middle class, upper middle class, upper class, and the wealthiest 10%.
Assuming long-term market returns stay more or less the same, the Rule of 72 tells us that you should be able to double your money every 7.2 years. So, after 7.2 years have passed, you'll have $200,000; after 14.4 years, $400,000; after 21.6 years, $800,000; and after 28.8 years, $1.6 million.
The LGT Wealth Management/Investment Trends 2025 State of Wealth report defines “high net worth” Australians as those with at least $1 million in investible assets excluding any debt, their home, their business (if they own one) and their superannuation (unless it is in a self-managed super fund).
While exact real-time figures vary, estimates from around 2025 suggest approximately 400,000 to over 500,000 Australians held over $1 million in superannuation, with about 2.5% of the population reaching this milestone as of mid-2021, a figure that has likely grown with strong investment returns, though many more hold significant balances and millions are projected to reach this goal by retirement, especially men.
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Another quirky analysis in 2023 tried to put a price tag on “100% happiness” for Australians, factoring in our high living costs. It found that to be “fully happy” in Australia, you'd need an annual income of around A$190,000. That made Australia one of the most expensive countries in the world for happiness.
On average, respondents said they would have to earn around $74,000 to feel financially satisfied — although nearly 1 in 5 stated they'd require at least six figures to enjoy their lifestyle comfortably. Select your state to begin applying for Accredited Debt Relief's program.
Finder noted the exact amount the average Australian said they would need to feel rich was $389,118 per year, which was seven times larger than the national median personal income of $55,062 a year.
The top tax bracket kicks in at $190,000 a year and is often cited as shorthand for high income. But just 4.4 per cent of taxpayers had a taxable income that high in 2021-22. In fact, even in Australia's richest state – WA – just 5.5 per cent of taxpayers are in the top tax bracket.
The "easiest" high-paying jobs often involve leveraging existing skills (like sales or IT) or finding niches like insurance broking, high-level tech roles (remote/deliverable-focused), sales, truck driving, personal training, or specialized roles like medical coding or elevator mechanics, balancing ease with good income depends on your definition of easy (low stress, low formal education, or flexible) and industry demand. Roles like sales representative, IT support, or even transcription can offer good returns, especially when remote or freelance, but building up clients or expertise is key to high earnings.
High-paying jobs in Australia without a degree often involve skilled trades (electrician, plumber), technology (ethical hacker, ICT Manager), management (Construction Manager, HR Manager, Sales Manager), and specialized roles (Air Traffic Controller, Pilot, Drillers/Miners), relying on certificates, apprenticeships, or on-the-job training for high earning potential.
People earning £100,000 or more a year typically positioned themselves in the top 52 per cent relative to the rest of the population, which is just above average. In fact, they are almost right at the top of the earnings tree.
At least 20% of your income should go towards savings. Meanwhile, another 50% (maximum) should go toward necessities, while 30% goes toward discretionary items. This is called the 50/30/20 rule of thumb, and it provides a quick and easy way for you to budget your money.
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