Breaking Down the Latest Australian Salary Trends: 2023 Insights Revealed
Are you curious about how your earnings compare to those of your fellow Australians across different regions and industries?
We’ve compiled a comprehensive analysis using data from various sources to shed light on the landscape of average salaries in Australia.
National Average
According to the latest statistics from the Australian Bureau of Statistics (ABS) released in August 2023, the average weekly earnings for a full-time worker in Australia is $1,838 before tax. This reflects a notable annual increase of 3.9%, equivalent to $68 per week. Bjorn Jarvis, the Head of Labour Statistics at ABS, highlighted that this growth represents the strongest annual increase since May 2013, except for a brief spike early in the pandemic.
Average Salary by State
- Western Australia: Leading the nation in earnings, Western Australia boasts an average weekly income of $2,039.30 for full-time workers. This can be attributed in part to the significant presence of high-earning mining professionals.
- New South Wales: With an average weekly income of $1,831.90 for full-time adults, NSW sits just $6.10 below the national average.
- Victoria: Victoria reports average weekly earnings of $1,832.90 for full-time adults, just $5.10 below the national average per week.
- Queensland: Full-time workers in Queensland earn an average weekly salary of $1,791.00, which is $47 below the national average.
- South Australia: In South Australia, the average weekly earnings for full-time workers are $1,677.80, $160.20 below the national average per week.
- Tasmania: Tasmania’s full-time workers earn an average of $1,619.30 per week, $218.70 lower than the national average.
- Northern Territory: The Northern Territory reports average weekly earnings of $1,775.90 for full-time workers, which is $62.10 below the national average.
- Australian Capital Territory (ACT): ACT ranks second in Australia with average weekly earnings of $2,022.90 for full-time workers.
Gender Disparities
The gender pay gap is evident across the nation. While the national average weekly earnings for full-time Australian workers stand at $1,838, men earn an average of $1,938.30 per week—$100.30 more than women, who earn $1,686 weekly.
Major Capital Cities
- In Sydney, the average annual salary is $80,000, based on data from PayScale.
- Melbourne’s average annual salary is $75,000, as reported by more than 57,000 individuals.
- Brisbane’s average annual salary for full-time workers is $73,000, derived from data collected from over 30,000 Brisbane workers.
- Adelaide’s average yearly salary is $70,000, according to PayScale data from over 16,000 individual salary reports.
- Perth’s average annual salary stands at $77,000, based on data sourced from 22,000 individual reports.
- Hobart’s average annual salary for full-time workers is $65,000, determined from input provided by more than 2,000 individuals.
Highest Salaries by Occupation and Location
- Teaching: Teachers earn an average of $90,000 to $95,000 nationwide, with Tasmania offering top salaries reaching up to $110,000. The Australian Capital Territory has the lowest starting range at $80,000.
- Mining: Miners earn an average annual salary ranging from $120,000 to $140,000, consistent across Western Australia and the Northern Territory. South Australia offers the lowest salaries at $90,000 to $100,000.
- Legal: Lawyers earn an average annual salary of $85,000 to $105,000 nationwide, with the highest salaries found in Western Australia and the lowest in Tasmania.
- Nursing: Nurses earn between $75,000 and $95,000 annually in most states and territories. The Australian Capital Territory offers the highest range, while Western Australia and Queensland also exceed the national average.
- Site Supervisors: Site supervisors in construction earn an average annual salary between $100,000 to $120,000. The Northern Territory offers the highest salaries, while Tasmania pays the least.
- Retail Sales Assistants: Australian retail sales assistants typically earn an average annual salary between $55,000 to $65,000. Western Australia has the highest salaries, while the Northern Territory pays the lowest.
Post-Pandemic Salary Trends
- Salary and compensation have become increasingly important factors for job seekers and employees, with 40% of candidates now prioritizing fair compensation compared to pre-Covid-19 times, according to SEEK.
- The Reserve Bank of Australia reports that firms will need to offer higher wages and benefits to attract and retain talent in an evolving job market, even amid rising interest rates.
- The most recent ABS data shows that the average Australian weekly salary has increased from $1,769.80 in the previous year to $1,838.10 in 2023, indicating a recognition among Australian companies of the need for competitive compensation packages in today’s dynamic job market.
Understanding these salary trends and disparities can help individuals make informed decisions regarding their careers and financial well-being.
SOURCE:
- Australian Bureau of Statistics
- Forbes Advisor
