Aussie households need to earn more than double the median annual salary in order to feel "comfortable". The majority of Aussie workers say they are struggling to make ends meet with their current pay cheque, as wages lag behind the rising cost of living.
Households now need an income of $164,403 just to cover their “basic needs” in the current economic climate, a new survey by Indeed found. To actually feel "comfortable", nearly a third said they would need to be earning more than $200,000.
A Yahoo Finance poll of more than 9,000 readers similarly found 25 per cent of people thought they needed to earn more than $200,000 to live comfortably.
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For those living alone and in single-income households, Indeed found that they would need to earn $126,278 just to meet their basic needs.
These figures fall significantly short of Australia's current $88,400 median annual salary for full-time workers, along with the average full-time salary of $102,742.
The wage gap is hitting younger Aussies particularly hard, with Indeed finding 70 per cent of those aged between 18 and 24 thought their current pay wasn't enough to make ends meet, above the 60 per cent average.
Do you have a cost-of-living story to share? Contact tamika.seeto@yahooinc.com
Indeed economist Callam Pickering said the cost-of-living crisis had changed what workers expected from employers, along with policymakers.
“Higher wages are important, but so are policies that ease everyday expenses like transport and childcare," he said.
“Wages alone won’t fix financial stress. Workers want meaningful action to reduce cost pressures - whether that’s making education more affordable or ensuring access to workplace flexibility.”
How much does the average Aussie earn?
The average Aussie working full-time earns $102,742 per year, according to the latest Australian Bureau of Statistics data.
That’s higher than the median full-time salary, which is $88,400 per year, and can be a more accurate representation as it strips out particularly high or low earners.
It’s worth noting that about one-third of Aussie adults are not in paid work because they are retired, have a disability, care for others or are unemployed.
Meanwhile, other Aussies don't work full-time.
The Grattan Institute found that the typical Australian worker, including part-time workers, was earning just $67,786.









