What is the Average Salary in Australia per Month in 2024?

The average salary in Australia per month is the average income of an individual working there. The average salary in Australia per month is differentiated on various factors such as working period, location, hours, etc. Understanding these factors is important for an individual planning to work in Australia as it helps them to get an overview of the salary structure of Australia. It’s essential to understand these factors as it helps an individual to plan their budgeting accordingly.

Australia attracts millions of immigrants every year for work and study and is the most preferred destination for immigration. Being famous for the universities on the Gold Coast and some cheap universities in Australia, this is a known country for students. At the same time, Australia is known for its work culture and high paying salaries for its employees. Let us explore together about the average salary in Australia per month as per the latest figures.

Factors Affecting Average Salaries in Australia 2024

There are various factors that affect the average salary in Australia per month. Understanding these factors is important for individuals to make the right decision in their career life.

1. Experience

The individual's experience plays a crucial role in deciding the average monthly salary in Australia. Generally, individuals having more years of valuable experience tend to earn more. They are offered higher salaries in companies due to their greater knowledge, working skills, and productivity level. With growing experience their salaries also constantly keep growing. 

2. Location

Geographical location is another factor that affects the average salary in Australia per month. The major big cities in Australia, such as Sydney, Melbourne, and Brisbane, typically offer more to their employees. On the other hand, small cities and towns pay lesser salaries to their workers. This gap in salary occurs due to higher living expenses in the city than in towns.

3. Qualification

Educational qualification plays a huge role in determining the salary of an individual. People with a higher level of degree, such as a master's degree, get paid more than those with a bachelor's degree. Having a master's degree can get a salary increment of about 29% more than a bachelor's degree. Other specialised certificates and training can also help in getting a better salary in Australia.

4. Industry Sector

Different industries offer different salary levels. Sectors that are more demanding and skill-oriented, such as healthcare, information technology, engineering, and finance, often offer higher salaries to their employees. Other sectors have fewer salary variables due to their nature of work.

5. Company Size

The size of the company is another factor that determines the average salary in Australia per month. Large and multinational companies offer better salaries and additional advantages to their employees. On the other hand, small businesses don’t have as many resources to provide these benefits to their workers. 

Also Read: Germany Job Seeker Visa Success Rate: Latest Update 2024

6. Gender

The gender gap also creates an income difference in the average salary in Australia per month. Women often get paid less as compared to men. The overall gender pay disparity is around 19% which means women get paid 19% less than their male counterparts. 

Regional Variances in Average Salaries in Australia 2024

The average salary in Australia per month differs based on the geographical location. Big cities and states offer better salaries than smaller towns. This difference in salary occurs due to the higher cost of living in bigger cities than in smaller towns. Also, big cities have more industries and companies which creates this difference in salary variables. 

Here’s a list of cities and states with their average salary in Australia per month:

The salaries of these cities have variations due to the economic activities and living costs of different cities. Sydney, Canberra, and Melbourne are among the top cities that provide the highest salaries to their employees. 

Minimal Wages (Monthly and Hourly)

The minimum average salary in Australia hourly is $20.33 per hour which can be translated to $772.60 per week. The monthly minimum salary in Australia is around $3,037. These wages also get little variations based on the company and the geographical location. 

Impact of Employment Type on Salaries in Australia 2024

Different types of employment have a huge role in determining the average salary in Australia per month. There are mainly three types of workers in Australia which are full-time workers, part-time workers, and casual workers. 

1. Full-Time Workers

Full-time workers in Australia are mainly the ones who work a standard 38 hours a week. They get all the employment benefits provided by their respective companies and are eligible for sick leaves and additional perks that are available to them. They have the highest earning rate as they have consistent working hours. The average salary in Australia per month for full-time workers is around AUD 7,670. Apart from the salary, they get other employer benefits like health insurance and other gifts.

Benefits

• They have stability and job security.
• They get other employer benefits and sick leaves.
• They are eligible for salary increments and pay hikes.

Drawbacks

• They have more work commitments which can create an imbalance in work and personal life.
• They don’t have flexible hours due to their workload.
• They often get more pressure from work and responsibilities.

2. Part-Time Workers

The part-time workers work a little less than full-time workers. Their work average is less than 38 hours per week. They get salaries and benefits according to their work. Their salary is determined by the hours they work, and thus, it varies from person to person.

Benefits

• They have flexible working hours.
• They help individuals to gain practical knowledge and develop skills without commitment to a full-time job.
• It acts as an additional source of income for people who have little time to work.

Drawbacks

• They get lower salaries as their working hours are less. 
• They don’t get all the employee benefits as they are not the core members of the company.
• They don’t have as much job security and stability as full-time workers.

3. Casual Workers

They don’t have a fixed time schedule for working. They work according to their need and availability. Due to their irregular working hours, their wages are also not fixed. They receive their salary according to the work they do. 

Benefits

• They get higher hourly rates as they don’t get other job benefits.
• They have the freedom to explore and do a variety of work according to their wishes.
• They have flexible working hours.

Drawbacks

• They don’t have job security at all.
• They don’t get a fixed salary.
• They’re ineligible for other employer benefits and bonuses.

Highest Paying Occupations in Australia 2024

The highest paying occupations in Australia are as follows, with their average salary:

These values are based on the latest conversion rates.

Latest Facts and News on Average Salaries in Australia 2024

1. The mining industry is the highest-paying sector, with an average annual salary of AUD 153,494.

2. The Wage Price Index shows that salaries in Australia grew by 4.1% annually as of March 2024.

3. The average salary in Australia per month in 2024 is around $5,000 USD.

Conclusion

In conclusion, the average salary in Australia per month is affected by many factors. Understanding these factors is important in order to get a higher salary. The salaries differ for different occupations and working sectors. There are other factors as well, like education and qualifications, which might help boost an individual's income in Australia.

If the average salary in Australia per month encourages you to move to Australia but do not know how to get there, do not worry. TerraTern, with its expert team and easy process, helps people settle and work in Australia.