There’s a whopping one million people in Australia who earn more than $3000 a week, putting them way above the average national wage.
That means out of every 25 people you walk past on the street, statistically one of them could be considered rich with a salary of over $156,000.
The Australian Bureau of Statistics released its Census results on Tuesday about the weekly income for Australians.
There were 662,000 Australians — roughly 3 per cent of the population — in the top earning bracket of $3500 or more a week with salaries of more than $182,000 a year.
Of those wealthy Aussies, 834 were people aged 15-19.
Men were also overwhelmingly represented in the top earning brackets, with 480,000 males taking home over $182,000 a year compared to just 181,000 women.
The data also found that $805 a week ($41,900 a year) was the median personal weekly income for Australians around the country.
While $805 may not seem like much — especially given Australia’s current cost of living crisis — it’s a $143 increase since the last Census back in 2016.
It’s worth noting the data includes Australians aged from 15 to 85 years, even if they are unemployed or retired.
There are more than 9.6 million people earning below the national median personal income or earning no income.
Additionally, 146,000 people in Australia are losing money each year, classed as negative income earners according to the Census. Of those, 48,000 come from NSW while 40,000 are Victorians.
There are also 1.667 million people who are unemployed, with 558,000 of them residing in NSW alone.
How your state fared in the Census
NSW houses the highest income earners out of any state, with 373,000 people in the top bracket.
This was followed by Victoria and then Queensland, at 263,000 and 170,000 people respectively.
The Northern Territory, meanwhile, had just 7300 people earning over that threshold.
The ACT has the highest individual earners, with a median of $1203 per week, while Tasmania had the lowest, sitting at just $701.
But in a surprise twist, Northern Territory residents are also making bank, coming in second place by earning $936 on a weekly basis, putting them solidly ahead of every state and territory except the ACT.
Western Australians earn a weekly median of $848 while NSW citizens were close behind, at $813.
Victorians, Queenslanders, South Australians and Tasmanians were below the median rate of $805.
Residents from each of those states make $803, $787, $734 and $701 every seven days, respectively.
Underdog state comes out on top with highest household salary
The median income for households around the country also painted some states and territories in a positive light while others left a lot to be desired.
Data showed the average household received $1759 every week in earnings.
Perhaps unsurprisingly, Canberrans again topped the charts in terms of their weekly household income, at $2373.
In close second place was the Northern Territory once more, with half of every residence raking in more than $2061 a week.
NSW came next, as each household earns a median income of $1829, and Western Australia was a close fourth, at $1815.
Tasmania ranked lowest, making just $1358 per household.
South Australians only earned $1455 per abode while Queenslanders weren’t far off, pulling in $1675 weekly.
Victoria, despite being home to the country’s second largest city, came in the bottom half of median household income.
Every five years, the Australian Bureau of Statistics (ABS) asks every household to fill out a census form at exactly the same time to get a snapshot of the nation as a whole.
Census night was last year on August 10 and its findings are finally coming out now.
More Census data about employment and occupation will be released in October 2022.
How much Aussies think they need to earn to have a good life
The average Australian would need to earn a salary of $326,900 per year to feel rich – nearly seven times the median wage, according to research released earlier this year.
But one in four Aussies wouldn’t consider themselves rich until they raked in a whopping $500,000.
Gen X needs the most money to feel wealthy with the majority wanting to to earn $354,100, while Gen Z needs a little less at $286,964, the survey from fintech company Finder found.
Personal finance expert at Finder Kate Browne said persistently pining for more money can be a dangerous game.
“A small number of high-income earners make average income statistics look impressive, but remember the typical middle-class Aussie is on a $50,000 salary,” she noted.
“If you’re lucky enough to be earning above the median wage, you’re already in a better spot than most. It’s easy to get caught up in the money, but it’s much more important to truly enjoy your work.”
Social media and the ‘FOMO economy’ can make it seem like everyone around you is hustling their way to the top, but appearances can be deceiving, added Ms Browne.
“There’s nothing wrong with striving for better finances – but trying to compete with others is exhausting and will make you always want more than you have,” she warned.“It can also lead you to live beyond your means, spending money you don’t have on expensive clothes or cars.”
