finance

12 millennials reveal their salaries (and how much they save every month).

Okay, friends.

We’ve covered how much money millennials have in their bank accounts, and how many people they’ve slept with. But because we’re all nosey as all hell (I might be the one writing this post, but you’re the one who clicked on it) why don’t we find out how much money millennials earn?

This stuff is my kind of drug.

I reached out to millennials on all corners of the internet (and by that I mean my personal Facebook page and the Mamamia Out Loud Facebook group) to ask you – the millennial reader people – to tell me your most sacred financial information. You delivered in freakin’ spades.

To say I was inundated with responses is an understatement. In one day over 145 of you wanted to spill your salary secrets. Because we’re all busy and itching to get back to Instagram scrolling, I’ve condensed the hundreds of responses; here’s what 12 of you told us instead.

Teacher, 29

We had many teachers get back to us, but this teacher – who is eight years into her career – takes home a yearly salary of $86,000. She’s a follower of the Barefoot Investor, so saves $1200 a month “into my fire and smile account”.

She’s very happy with how things are, telling Mamamia: “I prefer a job that is secure and that I know I will have in the future. I like knowing when I will get paid and that I can’t be fired easily so if that means I get paid less than other people my age, I’m happy with that.”

The Barefoot Investor shares his best financial advice for the average single woman, with Mia Freedman on No Filter. Post continues after audio. 

Hairdresser, 26

After working for a decade, this hairdresser earns $38,000 a year. She saves 50 percent of this because she lives at home, but is understandably dissatisfied with her salary.

She told Mamamia: “Buying a house is just not an option on what I earn.”

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Corporate counsel, 34

This millennial has been in their career for 11 years and takes home a tidy $125,000 a year. They’re pretty chuffed with this figure and live a luxurious lifestyle, saving $250 a month.

Apprentice landscaper, 23

Having worked in the field for four years, this apprentice landscaper earns $40,000 and saves between $100 and $300 a month.

“At the moment I am happy, because in the long run once my apprenticeship is complete, and I learned all the skills and done the hard yards, I will start my own business and it will be worth it.”

Obstetrics and gynaecology registrar, 30

This millennial doctor is six years into her career and pockets a salary of $150,000. She saves $5000 a month and is obviously “very happy” with where things are at.

Stay at home mum, 29

For this SAHM of four years, a salary is non-existent; she takes home $0 a year, “unless you count family tax benefit from Centrelink.”

She saves $50 a month but is worried about her finances: “Money is tight. We can manage but there’s not much left over.”

HR assistant, 23

After six months on the job, this 23-year-old is slightly unsatisfied with their salary of $49,044. She saves $800 a month and feels okay about everything, but “I feel I could have asked for more when I first got hired.”

Senior Network Engineer, 27

This millennial’s fancy tech job title comes with an equally fancy salary of $130,000 a year. They save $3000 a month but aren’t at all settling for that.

“I’m not happy with that salary. Doesn’t everyone always strive for more?”

Farmer and candle maker, 24

For this self-employed 20-something, there is no set salary year to year; her earnings depend on many ranging factors and forces. On average, though, she takes in about $50,000 a year.

Savings are non-existent on what this millennial earns, especially considering “everything is going to my wedding, bad I know!”

Opera and singing teacher, 30

Working in her field for seven years has seen this 30-year-old earn $40,000 a year. She saves $250 a month and is unhappy with her salary, explaining to Mamamia, “because it’s rather sh*t.”

Fair enough.

Radiographer, 32

Five years into their career has seen this radiographer reach a salary of $107,000. They save $3000 a month and are “very happy” with things as they stand.

Payroll manager, 30

A salary of $67,000 a year after 13 years in the field is inadequate for this millennial, who saves $600 every month.

“I’m currently being paid below the median in Sydney,” they told Mamamia.

“Although there’s a problem: my current business is on lean times which makes it awkward to ask for a raise.”

What juicy millennial survey do you want Mamamia to do next? Tell me in the comments below…

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