I know a girl who has a masters degree (5 years to complete) that is specialized in early childhood teaching and is a graduate primary school teacher in Sydney. Her starting graduate salary is only around $62,000 AUD (pre-tax). For a fucking masters degree!!
Here is a job for accounting which shows how competitive the job market in Australia is. The job will pay a maximum of $100,000 Australian dollars (pre-tax) and the job wants someone fluent in English and French and be willing to travel overseas and have a degree in accounting or similar + a CPA and at least 4 years accounting experience. Somebody who meets the requirements of degree + CPA + at least 4 years experience is likely to be at least 27, most likely older.
https://www.seek.com.au/job/34072039?typ...d3-3426743
That is one of the better paying jobs due to the French fluency and travel requirements. You can do a job search and see plenty of accounting jobs demand 4+ years of accounting experience plus a degree and CPA and only pay between $70,000 to $90,000 Australian dollars per year.
For example here is a job demanding a CPA/Chartered Accountant qualification and 4+ years experience and the pay is only $70,000 - $90,000 and this is in Sydney!!
https://www.seek.com.au/job/34059398?typ...5c-4591530
Lets say a 3 year degree like business/commerce/accounting in a prestigious university including course fees and textbooks, government loan interest, etc will cost you at least $35,000 AUD. The CPA course + textbooks + resitting some exams (more than half fail some CPA exams) + professional registration fees, etc will likely set you back a total of $10,000 AUD. Add that to the $35,000 degree that is a $45,000 difference. Add that to the foregone earnings (lets say for example $90,000 after-tax for the three year period) while studying at university and that is a huge hurdle ($135,000) to catch up.
If you look at the above job (link 2 paragraphs up) the maximum pay is $90,000 AUD before tax. Now look at someone who just finished high school and has maybe 5-10 years experience working dead end jobs. Lets say he earns $60,000 AUD (let us assume he hit a pay ceiling in his dead end job). Due to the progressive tax system the difference between $90,000 before tax and $60,000 before tax is only about $16,000 AUD after tax. You can see how hard it is for the average person that studied accounting to earn a return on their qualifications within a reasonable time period. A similar scenario applies to people who studied degrees like economics, education, social work, human resources, foreign policy, media/journalism, international studies, etc
Here is a job for accounting which shows how competitive the job market in Australia is. The job will pay a maximum of $100,000 Australian dollars (pre-tax) and the job wants someone fluent in English and French and be willing to travel overseas and have a degree in accounting or similar + a CPA and at least 4 years accounting experience. Somebody who meets the requirements of degree + CPA + at least 4 years experience is likely to be at least 27, most likely older.
https://www.seek.com.au/job/34072039?typ...d3-3426743
That is one of the better paying jobs due to the French fluency and travel requirements. You can do a job search and see plenty of accounting jobs demand 4+ years of accounting experience plus a degree and CPA and only pay between $70,000 to $90,000 Australian dollars per year.
For example here is a job demanding a CPA/Chartered Accountant qualification and 4+ years experience and the pay is only $70,000 - $90,000 and this is in Sydney!!
https://www.seek.com.au/job/34059398?typ...5c-4591530
Lets say a 3 year degree like business/commerce/accounting in a prestigious university including course fees and textbooks, government loan interest, etc will cost you at least $35,000 AUD. The CPA course + textbooks + resitting some exams (more than half fail some CPA exams) + professional registration fees, etc will likely set you back a total of $10,000 AUD. Add that to the $35,000 degree that is a $45,000 difference. Add that to the foregone earnings (lets say for example $90,000 after-tax for the three year period) while studying at university and that is a huge hurdle ($135,000) to catch up.
If you look at the above job (link 2 paragraphs up) the maximum pay is $90,000 AUD before tax. Now look at someone who just finished high school and has maybe 5-10 years experience working dead end jobs. Lets say he earns $60,000 AUD (let us assume he hit a pay ceiling in his dead end job). Due to the progressive tax system the difference between $90,000 before tax and $60,000 before tax is only about $16,000 AUD after tax. You can see how hard it is for the average person that studied accounting to earn a return on their qualifications within a reasonable time period. A similar scenario applies to people who studied degrees like economics, education, social work, human resources, foreign policy, media/journalism, international studies, etc