There are so many variables when it comes to how and what you get paid.  Things like full-time vs part-time, your level of experience, your profession, your industry, even your gender!  But there’s also the (sometimes cruel) factor of age.

Too young, and you’re often put straight onto minimum casual rates.  Too old, and they want to pay someone younger to do it.  Sometimes you can’t win.

But for most of us, there are some pretty stock standard averages when it comes to our overall salaries.

So, if you’re wondering how your pay packet measures up and when you can start earning the big bucks, take a look at this.

According to the Australian Bureau of Statistics, these are the average earnings for each age bracket.

 

20 & under:  weekly wage $383.70 / yearly salary $19,952

21-34:  weekly wage $1,127.60 / yearly salary $58,635

35-44:  weekly wage $1,503.70 / yearly salary $78,192

45-54:  weekly wage $1,544.20 / yearly salary $80,298

55 & older:  weekly wage $1,373.40 / yearly salary $71,417

 

And these came out on top as the five highest-paid industries:

  1. Mining
  2. Utility services
  3. Construction
  4. Wholesale trade
  5. Manufacturing

 

So, if you’re a middle-aged male working in the mining sector, you’re probably sitting on a pretty good wicket.  But that’s not to say it’s total doom and gloom for the rest of us.  You just have to be smart.

The trick is to start putting away savings little by little.  As much as you can afford to begin with.  By learning good spending habits early, you can head future debt off at the pass.  Then, as you gradually earn more, you’ll have a bit more rope to play with.  Each phase of your career presents new challenges, but also fresh opportunities to grow your wealth. That’s where we come in.  We invest your savings, equity, or even super into our high-yield property syndication projects.

If you’re in your 20s or 30s, you’d be well advised to start saving now.  If you’re in your 40s or 50s, you’re probably in prime investment territory.  So, give us a call to find out how we can help you double your savings in around five years.

Age shall not weary them, but neither will it stop you from having it all!