New study reveals how much you should earn a month based on your age

A new study has revealed how much you should be earning a month, based on the average wage of your age group.

A new study has revealed how much you should be earning per month, based on the average wage of your age group.

Released by Instant Offices, the research found that pay levels only peak for Aussie workers after the age of 45, with those between 45 and 54 bringing in the highest salaries per year, at an average of $80,298, amounting to $1544.20 a week.

Australians aged between 35 and 44 came in at a close second, taking home around $1503.70 a week thanks to an average salary of $78,192.

Teenagers, unsurprisingly, rake in the lowest wages, at just $383.70 a week (or $19,952 per year).

That pay grows exponentially, however, once Aussies enter their twenties, with those aged between 21 and 30 bringing in $58,3635 a year, which works out to be $1127.60 per week.

A new study has revealed how much you should be earning per month, based on the average wage of your age group.

The data also emphasised the massive wage gap between men and women who work full-time – with men making around 17 per cent more than women each week, earning $1810.90 every seven days compared to a woman’s $1515.60.

An international report in September revealed that Australia ranked equal last on the gender pay gap across six countries, on par with the UK.

“After nearly four decades of gender equality reporting in Australia, many organisations have gender equality policies in place, but evidence suggests that many policies are ineffective,” the report, carried out by the Global Institute for Women’s Leadership (GIWL) at King’s College London, read.

“The Workplace Gender Equality Act 2012 is essential for equipping advocates and activists with evidence of gender inequality, without which acknowledgment of the problem would be limited.

“However, the legislation is not sufficient to achieve significant change due to the absence of any mandate for positive action.”

The mining industry is the highest paying around Australia. Picture: Cameron Laird

The wage gap was less pronounced among part-time workers, the Instant Offices study found, with women bringing in $669.30 a week compared to men’s $666.

The study also revealed the highest paying industries in Australia – with the mining industry taking out the number one spot.

The average pay in the sector is $2674.80 a week, while workers in electricity, gas, water and waste services cash in $1922 a week, making it the second-highest paying sector in the country.

This was followed by construction, where workers rake in on average $1572.90 a week; wholesale trade at $1339.50 a week; and a manufacturing at $1334.70 a week.