ABS report cites third drop in a row for gender pay gap
According to the Australian Bureau of Statistics (ABS), the average Australian salary reached $1,888.80 per week or $98,217.60 in November.
This represents an increase of 4.5% year-on-year, according to Man of Many, with the public sector remaining the most lucrative on average — with males earning $2,183.30 per week and females earning $1,956.80 per week.
Bjorn Jarvis, ABS’s head of labour statistics, highlighted a significant narrowing in the gender pay gap, which now stands at 12%, down from 13% in May 2023, marking its lowest level on record.
“This was the third drop in the gender pay gap in a row, down to a new record low,” said Jarvis in news.com.au.
“This narrowing in the gap reflected stronger growth in average full-time earnings for women, 3.5 per cent over the past six months, compared with 2.3 per cent for men.”
Mining sector pulling up weekly earnings
Geographically, Western Australia ($2,108) and the Australian Capital Territory ($2,080) registered the highest average weekly earnings, while Tasmania ($1,670) and South Australia ($1,735) reported the lowest, said news.com.au.
Not surprisingly, the mining industry retained its status as the highest-paying sector, with full-time employees earning an average of $2,952 per week, according to the Man of Many report:
- Male: $3,049.30 ($158,563.60 annually)
- Female: $2,568.90 ($133,582.80 annually)
Source: Man of Many
Employees can expect a higher wage increase this year as HR professionals across Australia predict that the mean basic pay increase will hit 3.7% in the 12 months to January 2025, according to a recent survey.
Average Australian salary by age
When it comes to salary by age, these range from less than $1,000 to just over $2,000, says the report.
Full-time worker’s average salary in Australia by age:
- 20 years and under: $949.90 per week ($49,394.80 annually)
- 21-34 years old: $1,679.70 per week ($87,344.40 annually)
- 35-44 years old: $2,167.50 per week ($112,710 annually)
- 45-54 years old: $2,234.80 per week ($116,209.60 annually)
- 55 years and older: $2,041.10 per week ($106,137.20 annually)
Part-time worker’s average salary in Australia by age:
- 20 years and under: $347.90 per week ($18,090.80 annually)
- 21-34 years old: $734.60 per week ($3,8199.20 annually)
- 35-44 years old: $993.80 per week ($51,677.60 annually)
- 45-54 years old: $995.10 per week ($51,745.20 annually)
- 55 years and older: $918.30 per week ($47,751.60 annually)
The overall salary increase in Australia is projected to reach four per cent in 2024, according to the latest remuneration survey by WTW.
This is equal to the actual salary increase recorded in 2023, and comes amid an inflation rate of 5.7%, the WTW said.
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