According to the most recent ABS data, the average income for full-time Autralian workers is $84,968 per year. However, this number is pretty meaningless if you’re trying to work out the average for your age, location or industry. This is where the WageSage web app can help.
Most official income statistics fail to account for age and geographic location, which are very important considerations. For example, a 19-year old in Penrith, NSW who earns $60,000 p.a is technically $25,000 below the national average. However, this is significantly more money than most people in their age bracket or location earn. Subsequently, they should be pretty chuffed with their current lot in life.
WageSage calculates a meaningful average income by focusing on age, gender and geography. The results are all based on existing income data from the Australian Tax Office (ATO).
To find out how your income compares to other Australians, simply type in your yearly income, age and postcode. The site will then automatically spit out the results. You can play around with the sliders to see how your income compares to other states and age groups if you’re curious. (Interestingly, my annual income is bang on the median for NSW, but nearly $20,000 higher than average for my specific post code.)
The site also does a pretty good job of revealing the gender pay gap – selecting ‘Female’ results in a lower average income than a male who shares the same age and location. Again, these are official ATO figures.
This story has been updated since its original publication.