Mon. Jan 17th, 2022

A new study has revealed how much you should earn based on the average salary for your age group.

The study, published by Instant Offices, found that wage levels do not peak for Australian workers until after the age of 45, while the average wage among all workers came in at $ 1,463 a week before tax.

Middle-aged workers between the ages of 45 and 54 have the highest wages at $ 80,298 a year, equivalent to $ 1,544.20 a week.

A new study has revealed how much you should earn, based on the average salary for your age group (above, graphically by Daily Mail Australia)

A new study has revealed how much you should earn, based on the average salary for your age group (above, graphically by Daily Mail Australia)

Those aged between 35 and 44 had the second highest annual salary of $ 78,192 per year, coming in at $ 1,503.70 per week.

Teenagers have the lowest salaries, and they collect $ 19,952 a year – equivalent to $ 383.70 a week.

But the salary grows for those aged 21 to 34 and comes in at $ 58,365 a year – which turns out to be $ 1,127.60 a week.

Older Australians aged 55 and over can expect to bring in $ 1,373.40 a week, equivalent to $ 71,416 a year.

It is slightly below those between the ages of 45 and 54, who earn $ 1,544.20 a week, which is $ 80,298 a year.

The data also revealed a large pay gap between men and women working full-time, with an average salary for men of $ 1,810.90 per week, while women earned $ 1,515.60 – meaning men earned about 17 percent more.

A study by Instant Offices has revealed the average weekly wage that workers aged 20 to 55 and older should receive (pictured, workers in Sydney's CBD)

A study by Instant Offices has revealed the average weekly wage that workers aged 20 to 55 and older should receive (pictured, workers in Sydney’s CBD)

The report found that the average weekly wage for a full-time employee in Australia is $ 1,463, with men paying $ 1,810.90 a week and women a lower $ 1,515.60 (pictured, cafe goers in Sydney's CBD)

The report found that the average weekly wage for a full-time employee in Australia is $ 1,463, with men paying $ 1,810.90 a week and women a lower $ 1,515.60 (pictured, cafe goers in Sydney’s CBD)

How to increase your salary

Negotiate a pay rise: Pay attention to your performance and contributions at work, and use them to motivate a pay rise.

Become an expert: Take the initiative to do some training or study online courses to learn more about your industry and role.

Examine and compare your salary: It helps to know how much your skills are worth and compare your salary with the industry average.

Move to another mode: Where you live can have a significant impact on your earnings. For example, average weekly total cash earnings in 2018 were highest in the Australian Capital Territory at $ 1,517.20 per week. Meanwhile, they were lowest in Tasmania at $ 1,092.30 and South Australia at $ 1,153.40.

The pay gap between men and women was less pronounced among part-time employees, with women earning $ 669.30 compared to men earning $ 666 per week compared to $ 669.

Weekly wages, however, leveled for part-time workers, with men earning $ 666.00 on average per week, while part-time wages for women came in at $ 669.

It comes as no surprise that managers are the highest paid workers in Australia, while sales staff had the lowest average weekly earnings.

The survey also revealed the highest paying industries in Australia, with those in the mining industry bringing in the highest wages.

The average wage in the sector is $ 2,674.80 per week, with fly-in fly-out (FIFO) workers able to demand high wages as the mining industry experiences a shortage of workers.

Electricity, gas, water and waste services workers can cash in $ 1,922 a week, making it the second highest paying sector in Australia.

Construction workers also bring in huge paychecks, with an average earnings for the sector of $ 1,573.90.

Wholesalers who act as intermediaries between manufacturers and retailers also demanded high wages, earning an average of $ 1,339.50 a week.

The report also revealed the five highest paying industries in Australia.

The data revealed a remarkable pay gap in the full-time workplace, with men earning a weekly average of $ 1,810.90 and women earning $ 1,515.60 (pictured, a construction worker)

The data revealed a remarkable pay gap in the full-time workplace, with men earning a weekly average of $ 1,810.90 and women earning $ 1,515.60 (pictured, a construction worker)

Construction workers can earn an average weekly wage of $ 1,573.90 (pictured, construction workers)

Construction workers can earn an average weekly wage of $ 1,573.90 (pictured, construction workers)

Those in mining can receive an average cash income of $ 2,674.80 per week, while workers in electricity, gas, water and waste services can redeem $ 1,922.

Construction workers can earn $ 1,573.90, those in wholesale can earn $ 1,339.50, and those in manufacturing can earn $ 1,334.70.

The report explained education, experience, industry, company, gender, age and location were all significant factors in determining the average weekly wage.

Five top-paying Australian industries

Australia’s average weekly total cash earnings were the highest in these industries in recent years:

Mining: $ 2,674.80

Manufacture: $ 1,334.70

Electricity, gas, water and waste: $ 1,922.00

Construction: $ 1,573.90

Wholesale: $ 1,339.50

Source: Instant Offices

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