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Exactly how much you should be paid based on your age

·Personal Finance Editor
·2-min read
Three workers from different age groups.
Ever wondered how your pay compares to your peers? (Source: Getty)

During your working life, it’s expected that your pay will rise as you gain more experience in your chosen profession.

But have you ever wondered if you’re being left behind by your peers? A new study by Instant Offices worked out how much you should be earning based on the average wage for your age group.

It should be noted that different industries will pay differently. The report is based on the overall weekly pay average for each age group.

So, let’s break down the numbers.

Average weekly wage

The report found the average weekly pay for a full-time worker in Australia was $1,463.

A full-time male worker will, on average, earn $1,810,90 a week. For a woman, that drops to $1,515.60 a week.

20 and under

The average salary of under 20s in Australia is $383.70 per week, which adds up to $19,952 per year.

21-34 year olds

The median salary for 21-34-year-olds in Australia is $1,127.60 per week, which works out to $58,635 per year.

35-44 years old

The average salary for Australian workers in the 35-44-year-old age group is $1,503.70 per week or $78,192 per year.

45-54 years old

Earnings for 45-54-year-olds are slightly higher at $1,544.20 per week, which is $80,298 per year.

55 and older

Australians aged 55 and over can expect to earn a median of $1,373.40 per week, which is $71,416 per year, slightly below the 45-54 age bracket.

The workforce typically also becomes smaller as employees in this group reach their early sixties.

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