Pay rises show the best paid industries in Australia

New figures have revealed what you need to earning to be ahead of the pack and where the best paid roles are going.

Aussies have enjoyed pay rises in the past year but new data has revealed that you need to earn above $91,000 a year to be considered on a higher than average salary.

However, prices rises for everyday goods such as groceries and petrol are causing pain for many Aussies and essentially wiping out extra money from wages.

The new data from the Australian Bureau of Statistics showed the average Aussie was making a full-time salary of $90,917 in November 2021.

While people’s pay increased by 2.3 per cent annually overall, it was well below inflation which is sitting at 3.5 per cent, meaning the cost of goods is eating up any extra pay.

Workers who’s pay included bonuses and overtime saw their pay levels soar by 3.8 per cent to $94,260.

The mining industry continued to offer the best pay across Australia, with employees on $138,128, while the media and information technology roles saw salaries rise by a whopping 7.1 per cent to $113,276.

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Pay rises have been eaten up by rising inflation.

Finance and insurance specialists continued to rake it in with salaries of $110,042, making more than some professions such as lawyers, architects and engineers which averaged $106,673 for full time workers.

Public servants had an average pay of $98,326 and were one of the big influences of wage rises across Australia.

Sarah Hunter, KPMG senior economist, said “momentum” in wages picked up mainly due public sector with the unwinding of pay freezes in NSW and Queensland.

“While the data continues to confirm that the tightening labour market is resulting in accelerated wages in many parts of the private sector, those workers subject to wage bargaining agreements, which typically run for multiple years, are lagging behind; workers in the utilities and transport sector are still experiencing wages growth well below 2 per cent year on year,” she said.

“Although the pace of growth has picked up, the RBA Board is likely to flag that an annual pace of growth of 2.3 per cent is still well below the rate it wants to see before beginning to raise the cash rate – at the moment the average worker is experiencing declining real wages.”

Hospitality was worst paid, while mining was the best.

Hospitality continued to be the most poorly paid at $63,377 a year, followed by retail with workers on a salary of $68,349.

Workers in the ACT enjoyed the biggest pay rises soaring by 4.8 per cent to an average salary of $102,882, compared to a measly 0.5 per cent for those in NSW, who make $91,577.

Despite enjoying a pay rise of 3.6 per cent, Tasmanian workers were still the lowest paid across the country sitting on an average salary of $80,168.

Men working full-time made $96,018 on average well above women who were sitting on $82,742.

Australia’s national gender pay gap equates now sits as $255 per week between the full-time earnings of women and men, according to the Workplace Gender Equality Agency