Do you know what the average salary in Australia is? No one in Bondi does

Research has revealed the average Aussie salary and news.com.au hit the not-so-mean streets of Bondi to find out if it is enough.

Not to alarm anyone, but $100,000 is the average salary in Australia at the moment. We are a sunburnt and six-figure country.

According to the latest figures from the Australian Bureau of Statics, the average yearly salary is a staggering $103,812. The full-time adult’s weekly total earnings are $1996.40, a 4.5 per cent increase from last year.

The average, or mean, salary is calculated by dividing total earnings by the total number of people (or employees).

The median is another commonly used calculation method, which provides the “middle” earnings figure, where half of people earn more than the median earnings value and half earn less than the median earnings value.

Six figures used to be the Aussie dream.

You could afford to service a mortgage, indulge in a DVD-buying trip in Bali and have enough left over to get some fun family stickers to put on your car.

Is $100,000 that much in 2024 though?

Money doesn’t stretch that far anymore.

Witchery sells dresses for $300, lattes can cost $8, and there’s always an angry man on Reddit complaining about the inflated price of beer.

It is a desperate time, so I hit Bondi’s not-very-mean streets to do a big vibe check.

I was Tracy Grimshaw, but instead of chasing down shoddy tradies, I was interrupting people that don’t have to be at work at 11am on a weekday.

I was on a mission, had questions, and definitely should have brought a clipboard to look more professional.

Was anyone aware that the average wage in Australia is now six figures? More importantly, though, is that enough?

MORE: Australia’s fastest growing salaries

One woman in a trendy hat said she assumed the average salary in Australia was $55,000.

She was completely shocked when I made the grand reveal that it was over $100,000.

“That is way more than I thought,” she admitted.

Her mate had guessed $60,000 but the $100,000 reveal didn’t impress him at all.

“Not enough,” he informed me.

A man that was taking both his dogs out said he’d have assumed around $70,000.

When I told him it was $100,000 and asked if he thought that was a lot, he just replied with a strong “no”.

A tourist guessed $80,000 and said they might have to consider moving to Australia now that they knew the average wage was so high.

No one was guessing the average wage correctly at all!

This man guessed a solid $70,000. Picture: news.com.au

She was $20,000 short with her guess. Picture: news.com.au

MORE: A guide to salary averages in Australia in your industry

One woman in a checkered shirt guessed it would be a staggering $150,000, while her partner went for the more moderate guess of between $55,000 and $60,000.

The $100,000 salary revelation left her completely unimpressed. In fact, she wouldn’t even think it was enough if that was her salary, but her partner had a much more optimistic response.

“I’d feel pretty good,” he said.

When I made the $100,000 revelation to one man, he seemed genuinely surprised by the average wage.

“I wish I was earning that sort of money,” he said.

“I feel like it doesn’t matter what kind of salary you’re on you’ve got to be able to live within your means.”

She wasn’t sure that salary would be enough in some parts of the US. Picture: news.com.au

They had very different salary ideas. Picture: news.com.au

An American tourist was not impressed with the $100,000 wage and said if you converted it to US dollars and had to live off that in America things wouldn’t be going so well in some parts.

“If you were living in South California you’d probably be on some kind of public assistance at that wage,” she said.

What became abundantly clear was that no one knew the average wage was now over $100,000, and most didn’t think six figures would get you very far anymore.

Six figures used to be an aspirational salary, but in modern Australia, it is fast becoming a salary people need so they can thrive instead of just surviving.

Finder money expert Sarah Megginson previously told news.com.au that being comfortable is less about some magical figure you should be earning and more about costs.

“One person earning $50,000 could live in a regional community with a low cost of living, happily sticking to a budget and feeling financially comfortable,” she said.

“And they could have a friend in Sydney earning $100,000, living alone and spending 75 per cent of their income on rent and utilities, using their emergency credit card to buy groceries, and feeling constantly stressed about money.”

Ms Megginson pointed out that people struggle because of the high cost of living, and until that goes down, most will remain stuck in a vicious cycle.

“Until we get the housing situation under control, we’re stuck with these sky-high rents and until inflation drastically falls, we’re stuck with higher interest rates on our mortgages,” she said.