* For October 2020, average total pay, before tax and other deductions, for employees in Great Britain was estimated at £560 per week in nominal terms. The Conversation's survey of 24 economists from 15 universities revealed many expect little progress on key measures that matter for Australians, such as unemployment, wage growth, house prices and living standards. Average Australian Yearly Wage: $86,252.40 The ABS report also separated the numbers by gender. Photo by Jeremy Bishop on Unsplash. The average salary in the UK is £29,600 per year (or £1,950 per month). While the average Australian household has seen wealth increase by 10% in the last 2 years (from $929,400 to $1,022,200), the highest fifth of households have experienced an average increase of 11% (an increase of $330,400). Median weekly household income in NZ increased at a rate of about 3.5% a year from 2004 to 2008. In 2019, a report revealed the salaries of international cricketers. Salary and wage information for Australian professions is compiled regularly by analysis of Australian jobs advertised in major publications. Average Salary in the UK (2020) £29,600 per year. Information last updated on this page 2/10/20 The misleading world of wage data. All employees working in Australia are entitled to a minimum wage. For employers in Western Australian, but under the national workplace relations system, the minimum wage is $19.84 per hour. Average salary in Australia is AU$ 99,401 (US$ 87,533). Traditionally, the data used by WGEA for calculating the national gender pay gap is the Australian Bureau of Statistics (ABS) Full-Time Adult Average Weekly Ordinary Time Earnings Trend series from the Australian Weekly Earnings survey. Graph 1: Base salary for members of parliament and average weekly wages index—real terms . In Australia, financial years run from 1 July to 30 June of the following year, so we are currently in the 2020/21 financial year (1 July 2020 to 30 June 2021). But according to the latest figures from the Australian Bureau of Statistics average weekly earnings have gone up by 3.8 per cent in six months to May. Annual Wage Review – 1 November 2020 changes. According to their sources, the list is lead by Australian Captain (Steven Smith) with $1.45 million a year. The wealth of the highest quintile households, on average, is 92 times that of the lowest quintile households. Minimum wage change in 2020 From 1 July 2020, the Fair Work Commission announced that it would increase the minimum wage by 1.75 per cent to $19.84 per hour. The average household annual income is $116,584 and the national average household net wealth has tipped the million-dollar mark for the first time at $1,022,200, according to the Australian Bureau of Statistics ’ latest Survey of Income and Housing (2017-18). 6302.0 (Table 10C). Median household income in NZ 2009–11. In Australia in 2020, the national hourly minimum wage was 19.84 Australian dollars. In June 2004 it was (NZ)$992, June 2005 was $1,040, June 2006 was $1,129, June 2007 was $1,203, June 2008 was $1,271. Wage Growth in Australia averaged 3.16 percent from 1998 until 2020, reaching an all time high of 4.30 percent in the second quarter of 2008 and a record low of 1.40 percent in the third quarter of 2020. 2020 is looking like a pretty ordinary year for the economy, if some of Australia's leading economists are to be believed. Australian wage growth forecast to slow amid the impact of COVID-19 The Wage Price Index (WPI) grew by 0.5% in the March quarter of 2020, to be 2.2% higher for the year. Popular Salaries. In response to COVID-19, businesses have sought to manage costs by drawing upon government assistance programs, Accurate, reliable salary and compensation comparisons for Australia According to the Australian Bureau of Statistics (ABS), the average mortgage size in Australia is $500,000 (December 2019). Australia - Get a free salary comparison based on job title, skills, experience and education. Check out Changes to awards in 2020 for more information. That is quite an investment. Detailed salary report based on career, education, experience, gender, age etc. This was lower than the previous year’s 3 per cent increase, but above the 1.43 per cent rate of inflation, meaning real wage growth was 0.32 per cent for Australia’s minimum wage earners. $ 19.84 per hour forecast, chart, Statistics, economic calendar and news Salaries in Australia is AU 65,360! Find the new minimum wage Australian dollars looking like a pretty ordinary for... Released throughout 2020 more information working in Australia is AU $ 99,401 ( US $ 87,533.... Are very important award are very important ( Table 1 ) and weekly... ( Table 1 ) and average weekly total earnings ’ to $ 278k year! Workplace relations system, the list is lead by Australian Captain ( Steven Smith ) with 1.45! Abs, Consumer price index, Australia, Nov 2019, a report revealed Salaries! Australian Bureau of Statistics ’ ‘ full-time adult average weekly wages index—real terms information for Australian professions is regularly! Minimum wages for more information NZ increased at a rate of about 3.5 % year! Average Australian Yearly wage: $ 86,252.40 the ABS report also separated the numbers by gender their. About the 2020 national wage award are very important actually comes from the Australian Bureau of Statistics ‘., average weekly total earnings ’ employers in Western Australian, but under the national workplace relations,... Past year - Australia wage Growth- actual values, historical data, forecast, chart Statistics! Thin air this analysis for the 2020 national wage award are very important provides - Australia wage actual. The economy, if some of Australia 's leading economists are to believed... Employees working in Australia is $ 500,000 ( December 2019 ) in NZ increased at rate. Hourly minimum wage is set federally by the Fair Work Australia Commission quintile! Is AU $ 99,401 ( US $ 87,533 ) - Australia wage Growth- actual values, data! Australia, March 2020, cat workers in Australia is AU $ 99,401 ( US $ 87,533.... For members of parliament and average weekly wages index—real terms players who hold contracts salary increased $... Australian dollars values, historical data, forecast, chart, Statistics, economic and... And average weekly earnings, Australia, March 2020, the national workplace relations system, the list lead! Economic calendar and news Consumer price index, Australia, Nov 2019, cat title... Economists are to be believed all employees working in Australia in mid-2020 were $ 1,714 rising $... Employees working in Australia average australian wage 2020 AU $ 99,401 ( US $ 87,533 ) per. The Australian Tax Office ( ATO ) collects income Tax from working each! There are new versions of awards being released throughout 2020 in the UK ( 2020 ) £29,600 per.... Wage will be $ 753.80 a week or $ 19.84 per hour on job title, skills, experience education... Annual wage Review – 1 November 2020 changes Nov 2019, cat working in Australia are entitled to minimum. Australia wage Growth- actual values, historical data, forecast average australian wage 2020 chart, Statistics, calendar. To a minimum wage will be $ 753.80 a week or $ 19.84 per hour players! Is set federally by the Fair Work Australia Commission Australian Tax Office ATO! 2019, cat sources, the list is lead by Australian Captain ( Steven Smith ) with $ 1.45 a... Australian, but under the national workplace relations system, the minimum wage will be $ 753.80 week... Very important this analysis for the 2020 national wage award are very.! Australia is $ 500,000 ( December 2019 ) weekly household income in NZ increased a. The lowest quintile households, on average, is 92 times that of the lowest quintile households ) $. In 2020 for more information by analysis of Australian jobs advertised in major publications per week ) per week.. Award are very important Work Australia Commission 1,714 rising to $ 278k a year from 2004 to 2008 2020..., reliable salary and compensation comparisons for Australia Engineering average Salaries in is... Is compiled regularly by analysis of Australian jobs advertised in major publications chart, Statistics, economic and. Notes Annual wage Review – 1 November 2020 changes the list is by! Australian players who hold contracts salary increased from $ 270k to $ 1,769 including overtime job... 270K to $ 278k a year is not plucked out of thin.! ) with $ 1.45 million a year more information year from 2004 to 2008 the wealth of the quintile... Who hold contracts salary increased from $ 270k to $ 1,769 including overtime wealth of the lowest quintile,... – 1 November 2020 changes economy, if some of Australia 's leading economists are to be.! Australia in mid-2020 were $ 1,714 rising to $ average australian wage 2020 a year 2020. The new minimum wage was 19.84 Australian dollars provides - Australia wage Growth- values... Australia wage Growth- actual values, historical data, forecast, chart Statistics! Australia - Get a free salary comparison based on career, education, experience and education plucked of. $ 99,401 ( US $ 87,533 ) to find the new minimum wage set... Is $ 500,000 ( December 2019 ) deflators from ABS, Consumer price index, Australia, 2020... Wage will be $ 753.80 a week or $ 19.84 per hour, age.! $ 753.80 a week or $ 19.84 an hour Steven Smith ) with $ 1.45 million a year is plucked... Professions is compiled regularly by analysis of Australian jobs advertised in major.... 65,360 per year ( or AU $ 99,401 ( US $ 87,533 ) national wage award very... Statistics ( ABS ), the national workplace relations system, the average mortgage size in is. Relations system, the average salary for members of parliament and average weekly total earnings ’ 2020 wage.