Education & Work PAYG Earners- What's Your Actual Hourly Wage?

Discussion in 'Living Room' started by House, 3rd Nov, 2016.

Join Australia's most dynamic and respected property investment community
Tags:
?

Whats Your Actual Hourly Rate?

  1. $10-$15

  2. $15-$20

  3. $20-$25

  4. $25-$30

  5. $30+ and rolling in it!

Results are only viewable after voting.
  1. House

    House Well-Known Member

    Joined:
    13th Sep, 2015
    Posts:
    929
    Location:
    Sydney
    From the moment you wake up for work to the moment you get home is really how many hours you work, not the 9-5. Figured my work related hours to be about 65 per week!

    Take away travel costs and any other associated costs of working...

    After tax, my wage is rather quite pathetic at $12.50/hr! And that's living rent free :confused:Anyone else thought about it this way? If you're on a low wage and haven't... don't!

    Gives me even more motivation to become a successful property investor and have my money work for me instead :)
     
    Last edited: 3rd Nov, 2016
  2. JDP1

    JDP1 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    4,244
    Location:
    Brisbane
    30+ is not rolling in it. 300 + yes..
     
  3. Perthguy

    Perthguy Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    11,767
    Location:
    Perth
    Lunch? Because if I am at home I will eat lunch anyway.

    PT is $22.5 per week for me. I can spend up to $10 for lunch, which is pretty much a waste of money :(
     
  4. Dan Donoghue

    Dan Donoghue Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    1,679
    Location:
    Gold Coast, QLD
    Travel is only $100 a month for me (I only live 7 K's from the office) and food is $10 a day but I bring lunch in a couple of times a week.

    No other work related expenses.
     
  5. Barny

    Barny Well-Known Member

    Joined:
    16th Oct, 2015
    Posts:
    3,189
    Location:
    Australia
    Lol that's terrible, what's the point of working there?
    I also work on travel costs, time to and from. This is why I haven't left yet, I get breakfast/lunch included and dinner if it's late, transport, accomodation, flights all paid for, and twice a week if I drive it takes me 6 minutes in peak time or 5 minutes without traffic or 4.5minutes when I had a sports car. Tried a new job last year that earns twice the income I'm on, but after all travel costs, additional hours required per week, etc etc, it was less than 50% more. Great for serviceability and buying more property but crap for lifestyle. All about balance....and I would like a pay rise now.
     
    Perthguy likes this.
  6. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,095
    Location:
    Sydney or NSW or Australia
    $30/HR - do they pay that little?

    (I wouldn't get out of bed for that).
     
    wombat777 and Brian84 like this.
  7. Brian84

    Brian84 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,156
    Location:
    Sydney
    Apprentices will be getting paid that soon
     
  8. Ed Barton

    Ed Barton Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,229
    Location:
    Brisbane
    Now now.

    But $10-15? Isn't that below min wage?

    I guess if it's cash and you combine it with the dole it could be ok.
     
  9. jprops

    jprops Well-Known Member

    Joined:
    24th Sep, 2015
    Posts:
    885
    Location:
    Sydney
    I wake up at 5 am because my kid wakes me up - if I counted that I'd be doing 13 hr days.
     
  10. TadhgMor

    TadhgMor Well-Known Member

    Joined:
    5th Sep, 2016
    Posts:
    250
    Location:
    Penrith NSW
    As an IT type I have the luxury of working from home 99% of the time. That being said I'm a bit of a workaholic and regularly work 50-60hrs a week.
     
  11. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,130
    Location:
    03 9877 3000
    $30/hr translates to about $60k/year. Hardly rolling in it given it's a little below the average full time income.

    What many people don't appreciate is to be paid $30/hr, they need to be making making about $90 - $120 / hr for their employer. The rest of it goes to all the other things required to run a business. Wages are often the highest single cost, but there's a thousand other things that also cost money in a business.
     
    Last edited: 3rd Nov, 2016
  12. House

    House Well-Known Member

    Joined:
    13th Sep, 2015
    Posts:
    929
    Location:
    Sydney
    Not talking about what you get paid by the company, it's the actual rate you get after taking away tax, the hours and $'s spent on work related things like travel.

    I have a friend on $120k but working 70hours a week and 3hrs return trip every day, his actual hourly rate was only $16. So even though he earns twice as much, there's only $4/hr difference in what we get paid.

    Whereas if he was working a 40hr work week and living next door to his job, his hourly rate would be $38.

    Just something I thought about as I figured out how much my time was worth working with current employer... Not enough obviously!
     
  13. Brady

    Brady Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,561
    Location:
    Adelaide, SA
    I definitely take travel and these expenses into account - I currently work 10minutes from home, have my own park.
    I've been offered multiple jobs in the CBD and interstate, but each time it hasn't been worth it once you factor in
    - Travel time, even in Adelaide would lose 1.5 hours each day, which is ~360 hours p.a
    - Cost of travel, extra 10kms taking around 35mins longer in peak traffic, petrol.
    - Cost of parking, wouldn't be provided car park - so would need to pay for parking believe ~$4,000 p.a
     
    House likes this.
  14. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,130
    Location:
    03 9877 3000
    In that case, $30/hr NET is only a little above the average annual salary. Still not what I'd call rolling in it.

    The highest payslip I've seen was several years ago (so it's probably quite a bit higher now). Radiologist. He worked a 40 hour week and take home was $30k/mth which becomes an hourly rate of about $190/hr NET. He was rolling in it, although there wasn't really that much to show for it in terms of any real investments.

    Before people run back to university to get qualified, Radiologist is also one of the most dangerous jobs in the developed world.
     
  15. Ed Barton

    Ed Barton Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,229
    Location:
    Brisbane
    Seeing as my travel time is less than a minute I'm not sure I could calculate an hourly rate under your formula. I also work for myself so that makes the calcs even more difficult.

    I think your calculator is broken. If your friend is working 85hrs a week, including travel then... $120000/85/52=27 ph. If your friend did a 40hr week with no travel he would be earning $57ph.

    It's always worth considering and why contractors charge what seems like obscene money.
     
    House likes this.
  16. House

    House Well-Known Member

    Joined:
    13th Sep, 2015
    Posts:
    929
    Location:
    Sydney
    My friend also pays tax so $80,000/52= $1,500/wk. Less petrol and tolls is $1,400/wk so that 85 week easily turns into $16/$17 an hour
     
  17. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,095
    Location:
    Sydney or NSW or Australia
    I may have fallen on a silver spoon and it requires extraction but as a first year grunt back in the 1980's I was getting $20/hr (& a lot more as a graduate).
     
  18. Phase2

    Phase2 Well-Known Member

    Joined:
    14th Jul, 2016
    Posts:
    1,289
    Location:
    Perth
    Yep. I used to work as a contractor, the only real benefit to me was the ability to get paid when I worked more than the 38hr/wk stipulated in my salaried colleagues employment contracts.

    Rate was based on:
    Market base salary x 1.095 (to account for super) / (52 working weeks - 20days annual leave - 10 public holidays - 5 days sick leave) / 38 hrs per week.

    eg 100k base salary = 100,000 * 1.095 / 45 weeks / 38 hrs = $64/hr
     
  19. Sonamic

    Sonamic Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,340
    Location:
    Sunny QLD
    Cripes! I'd only have to work 5 years at that rate to "retire". But that's because of a lifetime of below average income lifestyle prep.
     
  20. mikey7

    mikey7 Well-Known Member

    Joined:
    30th Mar, 2016
    Posts:
    1,173
    Location:
    Sydney, Brisbane
    $30/hr net is not rolling in it, though I wish i earnt that lol.

    Biggest PAYG summary I've seen was $1.2M. My jaw hit the ground. He works 4hr days, 4 days a week.
     

Build Passive Income WITHOUT Dropping $15K On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia