What is a good salary in NZ per hour? (2023)

What is a good salary in NZ per hour?

New Zealand wages vary greatly by industry and we also record regional variations: as a guideline, salaries are higher where the cost of living and housing is dearer. The median income in New Zealand is just under NZ$27 per hour as of mid-2021 (NZD$56,160 per annum based on a 40-hour week).

This popular general budgeting rule allocates 50% of annual income to necessities like housing, 30% to discretionary expenses like travel, and the remaining 20% to savings. The median necessary living wage across the entire US is $67,690.

The cost of living in New Zealand, for one person in a major city, is between NZ$3,000-NZ$4,000 per month. A family of four can expect to need NZ$5,000-NZ$6,000 per month to live on.

Stats NZ data shows that in the year ended June 2021, the top 1% of New Zealand households had at least $7.59 million of net wealth – that's assets minus any debt held against them. To be a 1% individual, you would need net wealth of $3.866m. Internationally, the top 1% is US$1.147 million (NZ$2.059m).

If a job post asks applicants to state their expected salary when applying for the position, then give a range — not a specific figure — you're comfortable with. Answers like “Negotiable” might work, but they can also make you look evasive.

A good monthly income in California is $3,886, based on what the Bureau of Economic Analysis estimates that Californians pay for their cost of living. A good monthly income for you will depend on what your expenses are and how much you typically spend per month.

Is $1200 a week good money? $1,200 per week is $5,190 per month. This is almost exactly what residents of Los Angeles, California, and Colorado Springs, Colorado are making each month ($5,166.52 and $5,209.52, respectively). This is a good indicator that you would be financially comfortable in these cities.

As of 2021, the poverty guideline for most of the country is $12,880 for a single person.

How many hours is full-time NZ?

For statistical purposes, Statistics New Zealand defines full-time as working 30 hours or more per week. You have exactly the same employment rights and responsibilities if you're a part-time or full-time employee. A full-time permanent employee might be someone working 9am to 5pm, five days a week.

In more rural areas, new grads can expect a starting salary of around $60,000, while larger metropolises are set closer to $55,000-$57,000.

The top three jobs that pay $100 an hour are anesthesiologist, life coach, and simultaneous interpreter. The median hourly wage in the United States is $16 an hour. Most of these jobs require a college degree, certifications, and training.

Decile five – the middle of the pack – earned $60,800 to $77,199 and the lowest-earning 10% earned less than $23,700 a year. The median net worth (wealth) of households has also increased in recent years, rising from $286,000 in 2015, to $397,000 in 2021.

In the year to the June 2022 quarter, median weekly income: from all sources increased by $78 (10.1 percent) to $848. from wages and salaries increased by $96 (8.8 percent) to $1,189.

If you are moving to NZ for work or permanently it is useful to understand how NZ salaries compare to elsewhere around the world. Of course, NZ wages vary by industry and job type. However, the median income in New Zealand is just under NZ$27 per hour as of mid-2021 (NZD$56,160 per annum based on a 40-hour week).

Is poverty high in New Zealand?

Poverty rates for all New Zealand children

In the year ended June 2021, 13.6 percent of New Zealand children (156,700) lived in households with less than 50 percent of the median equivalised disposable household income before deducting housing costs.

Your target number should always be more than the salary range you found in your research. Let's say the offer is $50,000. Based on your research, you know you should be making $60,000 to $65,000. So the target range you present in the negotiation process should be something like $68,000 to $72,000.

The top 1% of earners in the U.S. earned median annual wages of $823,763 in 2020, according to the Economic Policy Institute.

HENRY stands for "high earner, not rich yet," and is typically a younger earner who enjoys an income of $100,000 to $250,000 a year.

The median annual living wage — defined as the minimum amount you need to cover expenses while saving for retirement — is $61,617 per household in the U.S., according to calculations by personal finance website GOBankingRates.

$300 daily is how much per year? If you make $300 per day, your Yearly salary would be $78,000. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 40 hours a week.

$20 per week may not seem like much, but it's more than $1,000 per year. Saving this much year after year can make a substantial difference as it can help keep your financial goal on your mind and keep you motivated.

For example, if an employee earns $1,500 per week, the individual's annual income would be 1,500 x 52 = $78,000.

What is a basic salary?

A basic salary is the amount of money you earn before any add-ons or deductions. One may earn a certain amount and then get dividends from shares or overtime remuneration. Those at a junior level usually take a higher percentage of their basic salary compared to those at senior level.

Among those employed in natural resources, construction, and maintenance occupations, 7.9 percent of workers were classified as working poor. Within this occupation group, 16.8 percent of workers employed in farming, fishing, and forestry occupations were among the working poor.

A three-person household must have earned $51,962 to $155,902 to be considered middle-class while a family of four must earn about $60,000 to $180,000.

Starting employment

There is no general rule preventing a person from having more than one job at the same time. Having more than one job might mean working for a second employer or working in the employee's own business.

Rest and meal breaks

Employers must pay for minimum rest breaks but don't have to pay for meal breaks. Rest breaks must be a minimum of 10 minutes, and meal breaks at least 30 minutes.

Employment agreements must fix the maximum number of hours to be worked by the employee at no more than 40 per week (not including overtime) unless the employer and employee agree otherwise.

In dollar terms, Kharas defines the global middle class as those who make US$11 ($16.53) to US$110 ($165) a day, or about US$4000 ($6000) to US$40,000 ($60,000) a year. Those are per-person numbers, so families with two parents and multiple children would need a lot more.

New median wage to apply from February 2023 10 October 2022

The new median wage of NZD $29.66 an hour will be adopted into the immigration system on 27 February 2023. All wage thresholds indexed to the median wage will also be updated.

Earning The Average Wage per year before tax in New Zealand, your net take home pay will be $59,383.26 per year. This is equivalent to $4,948.61 per month, or $1,141.99 per week. Your average tax rate will be 22.63%.

Where do the rich live in NZ?

In New Zealand, a stratospheric 45% cost more than $1m, and in the most exclusive regions, it's even higher still. Eighty-five percent of homes in the Queenstown Lakes district are worth more than a million dollars, the highest in the country.

Named New Zealand's most beautiful large town for the second year in a row, Taupō's win probably comes as less of a surprise to most.

"To be middle class, a household of three would have an income between $40,000 and $154,000." A three-person middle-income household makes about $52,000 to $156,000 every year according to Pew's definition.

The minimum wage rate in New Zealand is $21.20 per hour.

$27 an hour is how much annually? $27 per hour is $56 160 a year. This number is based on 40 hours of work per week and assuming it's a full-time job (8 hours per day) with vacation time paid.

Average Salary for Ages 25-34

For Americans ages 25 to 34, the median salary is $1,003 per week or $52,156 per year. That's a big jump from the median salary for 20- to 24-year-olds.

$30 per hour is $62 400 a year. This number is based on 40 hours of work per week and assuming it's a full-time job (8 hours per day) with vacation time paid.

The OECD average tax wedge in 2021 was 34.6% (2020, 34.6%). In 2021, New Zealand had the 36th lowest tax wedge among the 38 OECD member countries, occupying the same position in 2020. The employee net average tax rate is a measure of the net tax on labour income paid directly by the employee.