I know it's a naive question. I really am wondering what are these jobs? I've been living in Melourne for less than a year. Economic distribution of wealth is quite fair here in Australia. So, most of the people earn the same as others, but there are rich people. I just want to know, what kind of sector or jobs you can earn that much?
Jobs Where You Can Make over 100K a Year?
LAdiOZ on 11/10/2017 - 19:32
Poll Options
- 60Money doesn't represent life
- 98I wanna know
- 319Yeah.. I earn around 100K
Comments
When you look at average you have to take into account it covers EVERYONE
median is around 50k, but it takes into account everyone as well.
People freak out about average wage, usually young people. If you're under 30, most of you should be under 80k.
You are right. It is seniority and years of experience that gives you this amount. However, different industries and different roles will get you there at different times.
You can buy a good house in MEL for 150k dual income (that is total, not each). Still within 10-11km of the city.
$100k isn’t even a lot of money these days. It’s strange to think a combined family income in excess of $200k feels poor.
[x] $100k isn’t even a lot of money these days
[ ]a combined family income in excess of $200k feels poorThe average income of Australia's 9.3 million households is $145,400, up 2.4% from the same time last year according to the ABS. Made up of wages, investment incomes, welfare payments and the imputed rent value of home ownership.
source: http://www.abs.gov.au/ausstats/[email protected]/mf/6302.0Also a good read
http://mccrindle.com.au/the-mccrindle-blog/australias-househ…Now in regards to the question; imo, once u reach middle management in almost all jobs, everyone seems to be on about that much money.
"Imputed rent". What a hideous term (comment directed at ABS, not you). Even if I was to accept this as a way of equalising net outcomes for home owners vs. non-home owners, this should be considered as the capital cost of holding the property and not having those funds available for investment, not as additional "income".
Wait so they're counting the amount of money that you're saving on rent due to 'owning' your own home, as part of your income? But not deducting the amount you have to pay for your homeloan from your income?
Is the $145k before or after tax?
Apparently more money is paid investment income than what wages do. Apparently it is 48% wages and %52 investments.
If your household feels poor on 200k it might be time to re-assess your lifestyle
Do you realize thanks to your parents, you will probably retire as a millionaire? I don't think it's something to be sad about. A lot of wealthy people live like that. Buying luxury cars, expensive furniture and latest technologies is not how you get wealthy.
its their money and they choose to save and invest. Sounds like they will have a great retirement and you will get a good inheritance. Why do you think the definition of rich is : "European luxury car, expensive furniture, latest and greatest electrical goods"? Those that end up with these are actually not rich as they end up buying these with credit and then take a long time to pay these off with interest. Watch this: https://www.youtube.com/watch?v=dQnZO8-s8T0
mate im the same here, parents did the exact same and it felt like such a struggle to me as a kid living like we were poor. never got toys etc - only textbooks and the like that no kid wants for christmas :'(
but now that im older, i understand and im thankful for what theyve done.
@niggard: i feel u man! but haha yeah its true though, a good upbringing is expensive for them. at least they pay for your rego and insurance, mine dont pay for anything + ask me to pay two household bills. so much for asian parents letting children live rent free forever lmao.
@niggard:
Rego and insurance will be coming up to $1000 a year. I certainly don't spend anything like that on my kids presents.I know what you mean - I have a direct debit where half my entire wage for the month goes into an investment fund.
that's ridiculous. 80k is plenty to live on in a year if you arent stupid with money. and if euro cars and expensive furniture and all that shit arent a personal indulgence, then its just trying to show off. be glad your parents arent vapid and be grateful that they still pay for your car
when i was a kid my parents had a mix of euro and other cars, and cut out the euros over the years because they found them kinda pointless. growing up feeling a bit rich was fun, but the main benefit now is that none of us car about a prestige badge anymore. after driving euros over the years my dad can get into his subaru or whatever his most recent car is and marvel over how much more he gets for half the price, knowing that many of the neighbours with fancy cars are probably struggling to pay it off
(side-story: dad worked in car industry, and would hear from mercedes and other dealers about how they would often repossess cars from people with almost no other possessions. many people cant afford it, but want people to think they are rich and sacrificing everything for an overpriced car is the clearest way to do that)
Maybe you should move out then?
fresh off the boat
your dad sounds like an ozbargain platinum card holder.
@niggard: is getting a job yourself an option? Maybe you will see money in a different light if it's your own hard earned cash..
@niggard: money can give you more pleasure than just toys. some people work so they can buy nice cars, some people dont buy nice cars so they can stop working
I literally made an account just to comment on this idiocy.
You're presumably a kid, who is living off of their parents. Not only do you have the audacity to claim 100k is not much money, you then proceed to COMPLAIN your parents aren't pampering you enough.
I sincerely hope you're a troll and that people like you do not exist.
Your materialistic view and sense of entitlement is disgusting
@niggard you do realise that the problem is with your mindset not your parents? If anything your dad's a smart man and you still haven't learnt the value of a dollar if you 'feel poor' for 200k household income.
Hopefully they are not sheltering you too much and you'll learn the real world experience soon enough ( a good thing).
@ruddiger7: a little off-topic but can I ask which fund? I've been looking at a Vanguard Index fund but the fee is a bit high (.90%). I want to try AFIC but have no idea how to get into LICs :/
Frugal and Tightass/Stingy/ are not the same. they don't even appear as synonyms to the word Frugal.
What you've described above is a poor and toxic household of nutters slaving away at money and wasting life.
@31974: Im not sure of the particulars - the inlaws have set it up but its called the Magellans Infrastructure fund - seems to have a return around 9%.
@Rybo5000: Though I knew that I wouldn't be able to + a comment more than once, I still literally clicked it twice!
@mskeggs: If both your parents are alive and they only have one car, you can get the other to rego your car.
@crentist: lol. Second-hand 2000 Corolla ftw! Bought it in 2009 for $7k, done 80,000km on it in 8 yrs and still going strong. By the time it dies, annual depreciation will be less than the cost of rego.
Username checks out.
@serpserpserp: 23, my parents are encouraging me to save every last cent to scrape together a deposit (as much as possible) by my own means
Spot on railspider. you are so full of wisdom!
it might be time to re-assess your lifestyle
Or housing prices?
I am technically poor, but I have enough skills at my disposal to never really notice it. No matter how many pay rises my kids get, they feel broke.
Engineering (Civil, Electrical, Chemical, etc).
Doctors (GP, Physicians, Surgeons)
Lawyers
Banking and Finance
ActuaryJust to name a few. All of the above pay in excess of $100k with time, assuming that you are not useless(most start around $60-$70k straight out of uni).
For those who are less academically minded, most trades don't seem to do to badly either (Electrician, plumber, etc) particuarly if you have your own company.
Agreed except for banking/finance.. Westpac analysts start at negative $80k
cough anyway, for engineering you will only get $60-70k out of uni IF you join a medium to large sized company. Smaller companies tend to only pay award rates. engineers hit >100k when they enter middle management/senior technical roles
Doctors in Melb start at $65k but only start earning >100k after getting their specialist qualifications (easily 4-5yrs+ after graduation).
There seems to be an average of 5years or so before one hits >100k
No, you can earn +100k as a Registrar and don't even need to do your specialist exams. You work those long hours though. Also you do not become a Specialist after 4 years, you'd probably be on a specialist training program.
4-5 year after graduation you can start specialist training. That takes another 4-5 years so total about 10 years after graduation before specialist qualification is achieved. Add the 6 years Medical school so it's about 16 years after year 12.
While the medical trainee is earning about $100k, paying for exams, not going to social events, studying all the time, missing Christmas dinners etc, all his peers had probably been earning $150-$200k in Business/IT/finance since a few years after their 4 year uni degree. Thus Medical specialists have an approximately 10 year delay before they earn higher income. Their peers had already bought 1 or 2 investment properties which had doubled in price in that 10 years. It'll take a long time for a specialist to catch up to that despite their seemingly high income.
Didn’t know that! Seems like I was mistaken and thanks for clarifying that. Dang.. 10 extra years after graduation to be a specialist is brutal :/
Income wise… i suppose it’s easier to play catch up once you’re an aneasthesist? Out of curiosity, amongst all the medical specialties, how would you rank the difficulty of pursuing the path of an aneasthesist compared to the others? (Assuming you have insight to this)
@Sadkid: Anaesthetist is one of the harder ones to get into. How difficult it is to get into a particular specialty depends on supply (number of training places) and demand. Anaesthetist is popular, in part, in my opinion, due to its flexibility. IE you can do as many or as few sessions a week as you like, and you usually don't have to worry about patients after they've gone home. For most other specialties, a private specialist (ie no public hospital oncall cover) have to be available to the patients all the time, in case there are emergencies. Also complex/difficult chronic patients that constantly are in our minds.
I would like to mention another downside to medicine compared to Bus./IT. In Medicine you have no mobility. If there are no residency spots for you in the major cities, guess what? You are going to work rurally until your residency is over. Same for specialist training. If you want to go overseas? In business/IT you can apply for a job in the US, get a job offer, get a E3 visa and start working. So so easy.
In Medicine and you want to go to the USA? You are screwed over, you have to apply to medical board/speciality boards for the state, they go through your education and find you are lacking in such and such area. So you have to go through training and residency again. You have to go through the turmoil maybe being out of work, paying license fees (if your employer doesn't cover it), retraining, 24-36hr shifts, paying for insurance, et. al. You can finally start working in USA. Meanwhile that guy who did Bus./IT who got a E3 visa is now expat in SE Asia who getting paid 200kUSD a year for a project with company funded maids, drivers and assistants that does everything for them. That guy is now paid off all his house and his investment properties. While the Medicine guy is starting all over again.
You can join a selfless cause such doctors without borders, but you have to learn french or arabic, and your life will just be about work in a really terrible country for 2k per month.
sorry guys, I have been living under a cave. Can anyone aware me of the 'Westpac Analyst' situation getting thrown quite a bit in ozb lately?
Dentists?
"less academically minded" and "electrician" should not be in the same sentence.
I think he meant that if you can't read a book but you can put a wire in a hole
I lol'ed.
theres a website for this?!
there is a website for everything, and probably a facecook page as well.
there are probably websites for people without websites.
If you live in Sydney and earn $100k you are most definitely not rich or well off. A whole lot of tradies and office workers earn this much
Most tradies i know make between $150k and $350k With 10+ years experience.
Hey mate
Not having a dig at you or anything, but what tradies claim that wage? I am a tradie myself, and the most I've heard of is a sparky earning 200k, and that's during the mining boom. He was a fly in, fly out electrician.
Cheers
@abb: I agree Garetz, I am the only non-tradie in my group of friends and the only one who went to uni. All of them earn more than me and they are all around 200k. My mate dropped out at year 10 and is on 4k clear a week :( BTW I am in Melbourne so it is not located to just Sydney
@abb: He does more than wire apartments, he does strata work, construction work, alot of private jobs. I am getting alot of negatives, i'm not sure if its cause they dont believe it, or they dont want to believe it.
@r3volt: I know one builder/carpenter and they dont make very good money, i wouldnt clasify them as a tradie.
@garetz: I can vouch for the tradie shortage, my friend from Ireland showed me a phamphlet they were given, offering a plumbers, bricklayers and carpenters a 2 year job, relocation fees and return relocation fees if they chose to return to Ireland.
The government could restart skillshare with that money and train a few of our wayward youths some skills, but nope.The glut of students who went to uni has indeed lead to a shortage of tradies.
I think the negative is that some refuse to believe it and some who would rather keep it a secret
+1 for ditching uni to be a tradie (in this country anyway).
Let's not forget a tradie earning 200K keeps much more in the hand than a PAYE employee earning 200K.
@garetz: > He does more than wire apartments
Yeah I just said that because I figured it would be the easiest style of job. Hope he pays his taxes on that $500k!
The most annoying thing is I could do his job (I'm an electrical engineer), but I am not legally allowed to because I didn't spend the hours being underpaid doing the shit jobs for some other sparky ;)
@garetz: Or they don't want others to know it. Competitions lower your income, especially when the required skills are not high.
Since he said his mate clears 4k a week?
That's almost $400k a year before tax and super?
When people say they "clear" an amount a week I assume that as NPAT.
That's what I'm trying to say, $380k pa, is clearing $4050 a week. (Paying own super)
What I meant was, $400k after costs, ie business costs, materials etc, sorry for the confusion.
I do not know why you're getting neg'd.
Most guys I went to high school with who became tradies, got a high salary immediately and got early into the property boom, while those of us who went to uni are renting with hex debt lol.
This is most evident in recently gentrified areas. 30 years ago the street was lined with work vans. 15-20 years ago the young families in their 30s buying homes were mostly white collar workers. Today the entire street is cover in white trucks and vans.
Big difference between what a lot of tradies earn and what goes into their tax returns for the official numbers.
I do too, the big bucks is in strata and council contracts
Teachers… after working for several years.
Head Teachers
Deputy Principals and Principals.You work hard for every one of those 100,000 dollars
And 4 months holiday each year with no child care costs.
Imagine when the kids are in school! those 4 months would be sweeeeeet.
I'm hoping that was tongue in cheek :P But if not, it's not quite that glamorous ;) ~12 weeks a year away from the classroom, but there is the never ending marking, lesson prep, reports, individual student capability/learning outcomes to do both in term time and during 'holidays'.
Not an easy job, especially if you're not a fan of paperwork. The paperwork never ends :P
aleayr: Not to say that stuff is easy, but many jobs have that kind of "paperwork" that needs to be done outside of "face time", Doctors, Psychologists, Dentists, Court Lawyers, Sales people etc.
Except those jobs only get ~4 weeks a year off.
For a primary/secondary teacher even if you crammed all that prep work into a week or two of full time work (which would be pretty possible), you'd still be 6+ weeks ahead on the leave than everyone else.
Not to mention the endless "professional" days teachers seem to have off around end of terms etc. If you look at it on a whole, the job is pretty sweet.
Err… yes, but all of those professionals you listed make 2x-5x as much money in the public sector, and more in private practice.
TLDR: Teaching is hard. Students don't learn at the same rate, and this means lots of work to help them as best you can. Lazy teachers exist, but are in the vast minority, and I wouldn't want them anywhere near my children.
Honestly didn't know whether to respond to this post or not given how disrespectful it is given you obviously know a very limited amount about the profession, and your comparisons to those other professions and the amount they earn in comparison is bordering on insulting.
To be honest, I saw that attitude in a friend of mine who went to study teaching, so "I can have 3 months off a year". I tried to warn him that it's nothing like that, and didn't listen, and left the profession after graduating and working for a bit because the workload was massive if you actually wanted your students to achieve.
By all means, like there are in all roles, some teachers do the bare minimum, but in my experience, they're in the very large minority. You're attracted to this type of role to help students achieve, and that takes a lot of effort to manage.
"Cramming prep work into a week or two of full time work" is such a poor attitude for a teacher when you have a class of 25+ all learning at different levels, and they all need different levels of encouragement, delivered in different ways, and each year, you get a different group through who need classes to be tailored differently to their learning styles. It's not a matter of "gee, I taught this subject last year, I'll just repeat the same formula". Certainly having material helps, but the lesson itself is a small part, it's the individual outcomes if you want to be truly effective. That needs constant refinement.
Do you want your children to be taught be a teacher who is just in it for the 'hols', and just teach the same content year in, year out, not really caring about adapting it to each individual? Some students are ahead of the game, and need content within the lesson plan tailored with additional content to challenge to them, some are average, and will follow along fine, and others need additional assistance as well to accomodate. It's a massive job to do it properly and respect your students.
And the job is pretty sweet, but not for the 'holiday' time. It's seeing students achieve, and grasp concepts and coming up with ways to help as many of them as possible leave your class in a much better place to when they walked in.
If people look at teaching and think, "sweet bonus holiday time", they're not the sort of teachers we need teaching. That's just such a disrespectful attitude to the actual students who deserve much better than that.
And finally, I'm not sure what you mean by 'endless "professional" days'. Those are days spent being at school without students not at home sipping a drink on the back verandah. Working on developing and understanding the school plan and strategies, at seminars, learning new teaching methods etc. They're certainly not holidays.
Suicide and stress rates fairly high for principals though
Teaching for 8 years (level 9) before any leadership or admin positions ~$100k
Edit: beaten by 31 seconds :)
Pharmaceuticals
Meth production?
While it is hard to get a handle on what 'normal' (median) incomes are, AWOTE is a reasonable measure as it excludes part timers and unemployed who drag the avg income down, and the super wealthy who have plenty of non-wage income.
I think $80k for the average full timer is probably about right.
So other relevant stats:
- median household income is also around $80k
- accumulated wealth is $393,000 per person, so a 2.4 person household has wealth of almost $1m. http://www.abc.net.au/news/2017-06-30/abs-data-shows-austral…
It is the last figure that suggests the greatest inequalities to me when you consider the great number of households with very low or negative wealth.