Average Salary by Age in Australia: Are You Earning as Much as You Should in 2024?

As you add to your professional skill set, your value as an employee will no doubt increase, but are you earning as much as you should for your age? 

For most of your working life, your earnings will move upward as you age and learn new skills. However, several variables can influence how much you earn throughout your career. Read on for the average salary by age in Australia, and what can influence how much you earn. 

Average Salary in Australia

According to the Australian Bureau of Statistics, the average weekly earnings in Australia are as follows: 

• $1,460 for all employees 
• $1,973 for full-time employees 
• $799 for part-time employees 

As it stands in 2024, there is a noticeable gender pay gap in the Australian full-time workplace, with men earning a weekly average of $2,074 and women earning $1,815. Things are more equal in the part-time workplace, however, with men making $759 on average per week, and women earning $817. 

Factors that Influence Salary Growth

These factors play a significant role in determining how much you should be earning at your age.

According to the 2024 data, these factors play a significant role in determining how much you should be earning at your age. 

Education 

A suitable qualification from a reputable institution will improve your earning potential. 

Experience 

The number of years you spend in a particular role, sector or industry will have a big impact on the average salary by age in Australia. 

Industry 

Salary ranges differ significantly across different industries depending on the skills required, the demands on the employee and the level of education needed. However, mining takes the top spot in 2024 with average weekly earnings of $3008. 

Company 

The company size and culture of your employer’s business will also play a role in your salary. 

Gender 

The gender pay gap in Australia is significant, with male employees earning a weekly average of $1,731 while female employees earn a weekly average of $1,262. 

Age 

Your age will play a significant role in your earnings, depending on your experience and position. 

Location 

States and territories can have a significant impact on Australian workers’ earnings. For example, as of 2024, the average weekly total cash earnings are highest in the Australian Capital Territory at $1,705. Meanwhile, they were lowest in Tasmania ($1,282) and South Australia ($1,348). 

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What is the Average Salary by Age in Australia?

Australian employees can expect their earnings to increase throughout their careers until they reach the age bracket above 55 years, when their earnings will drop slightly. 

Age group and average weekly total earnings: 

• 20 & under: $469 
• 21 to 34: $1,289 
• 35 to 44: $1,767 
• 45 to 54: $1,827 
• 55 & older: $1,572 

Five Top-Paying Australian Industries in 2024

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

• Mining: $3,008 
• Electricity, Gas, Water & Waste Services: $2,351 
• Information Media & Telecommunications: $2,173 
• Finance & Insurance Services: $2,004 
• Professional, Scientific & Technical Services: $1,947 

The Road to Success

Whatever your chosen career might be, there’s always room to grow. Your salary will grow along with your skills, knowledge, and experience. 

Here are a few ways to help increase your earnings in the short term: 

1. Negotiate a raise 

Be mindful of your achievements and contributions at work and leverage them to propose a salary increase with your employer. 

2. Research and compare your salary 

It helps to know how much your skills are worth and compare your salary with the industry average. It can also be interesting to note how your salary compares to international averages. 

3. Become an expert 

Take the initiative to do some training or study online courses, to learn more about your industry and role. 

If you keep improving your professional worth by learning from peers and pursuing higher education, you can improve your salary and overall success at every stage throughout your career. 

Method:
The Australian Bureau of Statistics has released earnings by characteristics such as industry, age, sex, occupation, tenure, and sector. This release was gathered from the 2023 Survey of Employee Earnings and Hours (EEH) which concerned earnings with respect to the last pay period (on/before May 2023). For more information on this survey and its methodology, see here. 

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