How much YOU need to earn to be rich as Covid sees Australians on six-figure salaries secure the biggest pay rises and shutdowns hurt the poor
- Australia’s average full-time salary now stood at $89,000 in November 2020
- The mining industry had Australia’s most generous salary levels of $136,926
- But public safety employees including police had average pay of $94,874
- Scientists saw their average pay levels surge by 5.6 per cent to $104,073
- This occurred as Covid-hit hospitality wages fell by 1.5 per cent to just $60,377
Full-time workers earning less than $89,000 a year are now considered to on below-average salaries as Covid help the rich secure some of the biggest pay rises.
Average weekly earnings now stand at $1,712, rising by 3.2 per cent in the year to November, the Australian Bureau of Statistics revealed on Thursday.
But some already well-paid employees enjoyed some above-average wage increases, as the coronavirus pandemic made their expertise even more valuable.
Science and technical professionals, including infectious diseases experts, saw their pay levels surge by 5.6 per cent to $104,073.
Full-time workers earning less than $89,000 a year are now considered to on below-average salaries. Hospitality workers (Sydney waitress pictured) typically earned $60,377 as Covid shutdowns caused their pay to fall by 1.5 per cent in the year to November 2020
Public administration and safety workers, including police (Melbourne officers pictured at the Australian Open tennis) , typically earned $94,874 with their weekly pay levels rising by 3.8 per cent.
Public administration and safety workers, including police officers, saw their salaries rise by 3.8 per cent to $94,874.
Male public servants did even better with average pay levels of $102,487 a year.
Public sector salaries for both men and women stood at $96,912, but their weekly pay levels rose by a below-average 2.8 per cent as the federal government freezed salaries.
Finance and insurance salaries stood at $105,669, marking an annual increase of 3.5 per cent.
The mining industry had the highest average salary of $2,633 equating to a very generous $136,926 a year, although their weekly pay went up by just 0.6 per cent
Highest paid jobs
Mining: $136,926, up 0.6 per cent
Finance, insurance: $105,669, up 3.5 per cent
Science: $104,073, up 5.6 per cent
Public administration and safety: $94,874, up 3.8 per cent
Source: Australian Bureau of Statistics ordinary time earnings data before bonuses and overtime, November 2020
The mining industry had the highest average salary of $2,633 equating to a very generous $136,926 a year, although their weekly pay went up by just 0.6 per cent as China stymied coal exports.
That was more than double the $60,377 for those in the Covid-affected food and accommodation sector, with their average pay falling by 1.5 per cent as a result of coronavirus shutdowns.
CommSec senior economist Ryan Felsman said this highlighted the cruel effects of coronavirus.
‘The pandemic has certainly had a huge compositional impact on Aussie jobs and earnings,’ he said.
Women saw their average pay levels rise by 3.6 per cent to $81,224 as male salaries edged up by 3 per cent to $93,818.
With businesses now reopening, New South Wales Treasurer Dominic Perrottet said business confidence was gradually returning as he delivered a half-yearly review of the November budget.
‘More than 80 per cent of jobs lost in the peak of the pandemic have returned,’ he said.
‘The roll out of the vaccine this week has provided more good news, but there are still thousands of people who are out of work and businesses struggling.’
Telecommunications had the second-highest pay of $105,747 as they secured a 2.2 per cent pay rise.
Retail wages rose by 3.2 per cent to $67,044.
Male public servants did even better with average pay levels of $102,487 a year. Pictured is a stock image