A $100,000 wage in Australia is now not thought-about wealthy, particularly throughout a cost-of-living disaster.
For the primary time ever, the typical, full-time wage has entered six-figure territory.
The typical, full-time wage with out bonuses and extra time stood at $100,017 in Might, with 4 in ten industries now having pay ranges sometimes within the six-figure vary, new Australian Bureau of Statistics knowledge revealed.
Mining was the very best paid trade with a mean pay of $156,796.
The others included IT, media and telecommunications ($126,734), finance and insurance coverage ($118,726), skilled, scientific and technical providers ($116,761), electrical energy, waste, water and fuel ($116,678), public administration security similar to law enforcement officials ($105,877), and training sometimes together with academics ($105,373).
The healthcare and social help class wasn’t far behind with an equal common wage of $98,925, making them even higher paid than development employees and labourers on $94,734.
Nonetheless, Alysia Sheppard, a 44-year-old single mom with two teenage sons remains to be struggling with the cost-of-living disaster regardless of incomes six figures.
She’s on a $105,000 wage as a gross sales rep for a business workplace firm that gives furnishings to TAFEs, universities and faculties, however has nonetheless been all the way down to her final $5 simply earlier than pay day.
Alysia Sheppard, a 44-year-old single mom with two teenage sons, is fighting the cost-of-living disaster regardless of incomes barely greater than the typical wage
‘I do know individuals will assume, “Nicely, she’s on good cash” however it’s actually powerful,’ she instructed Every day Mail Australia.
‘In the mean time, I stay week to week. I have been a single mum for 15 years – I’ve bought two youngsters.
‘I haven’t got the Financial institution of Mum and Dad, I can not transfer again in with my dad and mom to make it work.
‘I really feel slightly bit trapped the place I’m now, simply making an attempt to get by is basically powerful.’
Whereas she will earn a living from home, her job requires her to be in Sydney to fulfill the wholesale clients within the training sector, which means there’s little prospect of shifting to a extra reasonably priced metropolis.
‘I used to spend $150 every week on meals and now that is as much as typically, practically $275 every week to feed the three of us,’ she mentioned.
‘I’ve lower going out to eating places, going out to cafes, I do not smoke, I do not drink, I am not happening a vacation.’
Along with her most important job, she takes on numerous aspect hustle gigs to assist cowl the payments and pay for Catholic college charges.
‘Cleansing was one thing that might match into college hours when the youngsters have been younger,’ she mentioned.
‘I’ve additionally carried out some odd jobs like eradicating wallpaper off a bed room, a waitress at a home occasion and delivering candies and issues like that.
She’s on a $105,000 wage as a gross sales rep for a business workplace firm that gives furnishings to TAFEs, universities and faculties, however has nonetheless been all the way down to her final $5 simply earlier than pay day. Alysia Sheppard is pictured with Oliver, 18, and Harrison, 16
‘It is solely been the final 12 months that I’ve needed to depend on that to complement my earnings.
‘Final yr I used to be working 4 jobs to try to get by.’
Regardless of incomes a six-figure wage, Ms Sheppard is battling to pay the lease on a two-bedroom at Dee Why, on Sydney’s northern seashores.
The weekly lease of $590 is pricey however that is a cut price in her suburb the place $701 is now the mid-point, primarily based on SQM Analysis knowledge.
The eating room has additionally been transformed right into a ‘short-term’ third bed room.
‘My lease is about 45 per cent of my earnings – something greater than 30 per cent they are saying is rental stress,’ she mentioned.
Somebody incomes $100,000 is barely in a position to purchase a $650,100 residence with a 20 per cent mortgage deposit.
However that is properly under Sydney’s median house worth of $852,766, which suggests any house within the metropolis’s north in her worth vary would solely have one bed room.
The Central Coast can be costly with reasonably priced suburbs close to Tuggerah Lake like Gorokan, greater than 100km north of Sydney, having a median home worth of $694,621, primarily based on CoreLogic knowledge.
For Ms Sheppard, the one various is to proceed renting however purchase an funding property in a smaller, regional space like Rockhampton in central Queensland.
However her Increased Training Contribution Scheme debt for 3 levels in instructing, inside design and advertising may make it laborious to get a mortgage, regardless of her six-figure wage.
‘I will not qualify for something throughout the Sydney area so I am trying to rent-vest,’ she mentioned.
‘I am just about dominated out till I pays my HECS debt off.’
Bridget Carkeet can be on a low, six-figure wage as a medical train physiologist at Ipswich, south-west of Brisbane (she is pictured along with her boyfriend Aidan Lunney)
Bridget Carkeet can be on a low, six-figure wage as a medical train physiologist at Ipswich, south-west of Brisbane.
The girl in her late 20s is ready to repay a four-bedroom home she purchased for $500,000 in 2021 however has needed to reduce on shopping for lunch, along with her and her boyfriend Aidan Lunney counting on leftovers.
‘We do meal prep, we positively deliver lunches,’ she instructed Every day Mail Australia.
‘We’ll simply take leftovers from our dinner the earlier night time, actually, no matter that’s.
‘We eat out perhaps as soon as every week however we do not get Uber Eats or something like that.’
She had additionally braced herself for rate of interest rises again in 2021, again once they have been nonetheless at a record-low of 0.1 per cent.
Debtors have now been handled 13 pursuits, squeezing even these on six-figure salaries.
‘I knew that rates of interest would go up so I calculated what I may afford inside my present wage,’ Ms Carkeet mentioned.
