Aussies have revealed the six figure salary making them feel ‘poor’

Australians have revealed the huge salary they say makes them feel “poor” in 2023, exposing how much you really need to earn to live a “comfortable” life.

$100,000 used to be seen as a dream salary, but young Aussies no longer think it is enough to live comfortably.

An anonymous member of a popular Facebook advice group aimed at women asked what was considered a “comfortable” salary these days.

She defined comfort as being able to take an annual holiday, not having to count your groceries and being able to “enjoy” things without having to check your bank balance.

“I’m not looking for crazy numbers from finance people that get a thrill from bank numbers, just comfortableness,” she explained.

What is a comfortable salary in 2023? Picture: iStock

The timely question sparked a debate that highlighted how $100,000 is no longer enough to live a comfortable lifestyle in modern Australia.

This year’s cost-of-living crisis has hit Australians hard.

Mortgages and rents have increased, along with the cost of food, fuel, power and water. And, according to the Australian Bureau of Statistics, the average yearly salary in Australia is about $94,000 – just $6000 off what used to be the ‘dream salary’ – but it is clearly not enough.

“I’m thinking $100k minimum, unless it is like a single person, no kids,” someone commented.

“I’m on a $100k and definitely still count my groceries. So I’d say comfortable would be $140k-$150k a year,” another argued.

The original poster explained that after sitting down to look at her career plan, she came to the grim conclusion that no one could live “comfortably” unless they earned between $150,000 and $200,000, making her feel like the economy was “ruined.”

A fellow Aussie echoed the sentiment, saying she used to think $100,000 was “heaps” of cash, but because the cost of living had soared, she didn’t think it was that much anymore.

Do you think a $100k salary is enough to live comfortably? Continue the conversation: [e-mail]

Aussies don't feel $100,000 is a dream salary anymore. Picture: NCA NewsWire /Gaye Gerard

Economist Shane Oliver said that while it was hard to put an exact number on what makes someone comfortable, he would argue that $100,000 was now the minimum.

He explained that north of $130,000 was a more liveable wage if you’re living in a major Aussie city.

“If you want to live a more normal Australian lifestyle and live in a larger apartment or house, $130,000 north,” he told news.com.au.

Mr Oliver said that people’s living expectations have increased and they don’t expect to live as their grandparents did.

“Expectations have gone up and that complicates the whole thing,” he said.

Mr Oliver said that people now expect to be able to afford an annual holiday and own a car and see that as the new bare minimum.

In a stark reminder of these highly inflated times, people also shared that, despite pulling in seemingly huge incomes, it still didn’t feel like enough.

One woman revealed that she and her partner brought in a combined $180,000 but still struggled to live comfortably.

“I’d say living comfortably means you own a house and even with your mortgage repayments, you’d be saving each week,” she clarified.

Another shared that, despite her and her partner earning a combined salary of $250,000, she still wouldn’t say they were “rolling” in it.

“I’m definitely gunning for a pay rise,” she revealed.

Australians are saying that $100,000 isn’t as much as it sounds. Picture: iStock

Aussies are depressed by the grim reality. Picture: iStock

Meanwhile, one woman shared that her and her partner had a combined salary of $130,000 and felt like they were just “scrapping” by.

A young woman said that when she was living in Brisbane and earning between $80,000 and $90,000, she was constantly living pay-to-pay to cover expenses.

Another woman said it was difficult to get by even though she did not have to factor in rent or mortgage costs.

“My partner makes $130k, and we struggle even with a free home to live in, and we can’t go on holidays every year,” she commented.

Mr Oliver told news.com.au that there still seemed to be common misconceptions around what was a comfortable wage in 2023.

“$70,000 salary can still be seen as enough, but it isn’t based on the reality of the soaring cost of housing,” he pointed out.

In fact Mr Oliver said the nation needs to reconsider what a comfortable salary looks like in 2023.