What Australian salary do you need to feel rich? State and industry differences
Explore the Australian salary needed to feel rich, using state and industry benchmarks from ABS data. Compare earnings across sectors and regions.
The national full-time adult ordinary-time earnings index is 100 ($108,352), but feeling rich often requires a salary well above this, such as in mining (index 154.7) or the ACT (index 109.9).
What does it mean to feel rich in Australia?
The idea of an "australian salary needed feel rich" is personal, but we can anchor it to real earnings data. The Australian Bureau of Statistics reports that full-time adult ordinary-time earnings average $2,083.70 per week, or $108,352 a year. That's our index 100. To feel rich, you'd likely need to earn well above that line.
But where you live and what you do changes the picture. A salary that feels comfortable in one state might feel tight in another. Let's look at the numbers.
State differences in earnings
Your location matters. The states page shows the index for each state and territory:
- ACT: 109.9 ($119,090) – highest average, driven by public sector jobs.
- WA: 106.9 ($115,825) – boosted by mining.
- NSW: 101.2 ($109,658) – slightly above national.
- VIC: 98.0 ($106,137) – just below.
- QLD: 97.9 ($106,064).
- NT: 95.2 ($103,173).
- SA: 94.6 ($102,450).
- TAS: 88.6 ($96,008) – lowest.
If you're in Tasmania, earning $96,000 might feel more comfortable than $109,000 in Sydney because housing costs are lower. The national minimum wage of $52,255 (index 48.2) is a floor, but to feel rich you'd want to be far above that. The Fair Work Ombudsman sets the minimum, but most people earn more.
Industry differences
Your industry is a bigger factor. The industries page lists indices:
- Mining: 154.7 ($167,600) – the highest.
- Information media & telecom: 130.3 ($141,134).
- Professional, scientific & technical: 114.7 ($124,300).
- Financial & insurance: 112.4 ($121,800).
- Education & training: 105.5 ($114,300).
- Health care & social assistance: 97.8 ($106,000).
- Retail trade: 75.9 ($82,200).
- Accommodation & food: 72.5 ($78,600).
A miner in WA earning $167,600 is likely to feel rich, especially if living in a regional area with lower costs. A retail worker earning $82,200 may feel comfortable but not rich, particularly in a city.
How the salary index helps
The Salary Index converts your gross annual salary into a number: your salary divided by the national line ($108,352) times 100. An index of 150 means you earn 50% above average. To feel rich, you might aim for an index of 130 or more, depending on your lifestyle.
But remember: gross pay isn't take-home. After tax and Medicare levy (2%), a $150,000 salary (index 138) nets about $106,000. Super guarantee of 12% adds to your retirement savings but isn't cash in hand.
Putting it together
There's no single "australian salary needed feel rich" figure. If you're in mining in WA, $130,000 might feel rich. If you're a teacher in Sydney, you might need $150,000 to cover rent and still save. The topics page explores these nuances.
For a rough guide: an index of 120 ($130,000) is a common threshold for feeling financially secure. An index of 150 ($162,500) often feels rich, especially outside the most expensive cities.
Caveats
These are averages. Individual pay depends on your award, experience, and employer. Modern awards set minimum rates, but many workers earn above them. The national minimum wage is $26.44 per hour, but award rates can be higher. For example, the retail award may pay more than the minimum for experienced staff.
Cost of living varies hugely. Rent in Sydney can be double that in Hobart. So a salary that feels rich in one place may be just comfortable in another.
Final thought
The best way to know where you stand is to use the Salary Index. Compare your salary to the national line, then adjust for your state and industry. Feeling rich is about more than a number, but the data gives you a starting point.
Questions people ask
What salary is considered rich in Australia?
There is no official definition, but a salary well above the national average of $108,352 (index 100) is often seen as wealthy. For example, the top 10% of earners earn over $130,000. In high-cost areas like Sydney, a salary of $150,000 or more may be needed to feel rich, while in Tasmania, a lower amount may suffice.
How do state differences affect the salary needed to feel rich?
Earnings vary by state: ACT has the highest average at $119,090 (index 109.9), while Tasmania is lowest at $96,008 (index 88.6). However, cost of living also differs. For instance, housing in Sydney is much higher than in Hobart, so a salary that feels rich in Tasmania may not stretch as far in NSW.
Which industries pay the highest salaries in Australia?
Mining leads with an index of 154.7 ($167,600 annualised), followed by information media & telecommunications (130.3) and professional, scientific & technical services (114.7). Retail trade and accommodation & food services are at the lower end, with indices around 75.9 and 72.5 respectively.