Average salaries from Australian Bureau of Statistics figures show what you really need to earn to be considered rich in Australia

An Australian now needs to earn more than $95,581 a year to earn an above-average income – men now typically earn a six-figure salary.

Average full-time pay, before bonuses and overtime, rose 3.9 percent in the year to May, compared to $92,030 before tax, the Australian Bureau of Statistics announced Thursday.

Men in full-time jobs saw their median pay rise 3.5 percent to $100,792, hitting six figures for the first time.

Women’s wages rose a larger 4.6 percent to $87,714, thanks to large increases in elder care and hospitality jobs where more women are employed.

Of Australia’s 18 job categories, seven now have an average full-time salary in the six figures.

Mining had the industry’s most generous median annual wage of $148,408 for both men and women, but this rose marginally to $152,973 when only men’s wages were included.

Men at mining sites who were paid overtime and bonuses typically received $157,810.

Information technology professionals ranked second with median salaries of $120,531 excluding bonuses for men and women.

Professional and technical services ranked third with median salaries of $112,887, followed closely by finance and insurance at $112,304 and power, gas, water, and waste services at $112,081.

Public sector professionals classified as public administration and safety earned $102,154, ahead of teachers and educators, in the education and training category, at $101,384.

In the five-digit range, the health, care and social assistance category had an average salary of $94,000, slightly ahead of construction at $93,746 and transportation, mail and warehousing at $93,584.

Then there were those who were paid less than $90,000 a year, which included property managers in the rental, rental and real estate segment at $89,424 a year.

This gave them a marginal edge over wholesale at $87,620, arts and recreation at $85,972, manufacturing at $84,817, and administrative support at $84,053.

Female-dominated occupations with more casual workers were at the bottom of the list, with store associates receiving $71,952 and hospitality and lodging and food service workers receiving $70,034.

When only women’s wages were taken into account, retail full-time salaries fell to $66,721, while hospitality wages fell to $65,905.

But both were still well above the full-time minimum wage of $45,906.

Mining had the most generous average, annual wage of $148,408 for both men and women in the industry (pictured shows a woman working on a coal mine in Queensland)

Unemployment rose to 3.7 percent in July, compared to a 48-year low of 3.5 percent in June when 14,600 jobs were lost.

The news was revealed two days after official data showed the wage price index fell to an annual rate of 3.6 percent in the June quarter, down from 3.7 percent previously, the first drop since 2020.

The Reserve Bank of Australia’s 12 interest rate hikes since May 2022 appear to be slowing the economy and reducing the prospect of workers receiving large wage increases.

AMP deputy chief economist Diana Mousina said unemployment is likely to continue rising from now on.

“This labor shortage is unlikely to last,” she said.