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The average wage is an important measure in career planning. Most people would attribute the value of their jobs and the skill sets they bring into their jobs by their average wage. In a way, average wage lets you know how important your job is, and how much it is valued within your company and industry.
For example, look at the average wage of personal assistants and General Managers. If the average wage of personal assistants is at AU$40,000, it is no wonder that for General Managers, the rate is at $80,000. The overall health of a business relies on the decisions of General Manager. Hence, in this sense, the General Manager is a more valued position so it has a higher average wage. Without the General Manager, the business - as well as the job of personal assistants - will be nothing.
In the same way, the average wage of a legal secretary is expectedly lower than the average wage of lawyers. The average wage of legal secretaries is at the AU$35,000 range. Lawyers, on the other hand, typically get an average wage of AU$60,000. This is understandable in the sense that a legal secretary's job will not exist without lawyers. The legal secretary aids lawyers on tasks they are too busy to do themselves.
You can use the average wages of jobs to determine the path you will take in your career. Some websites can give you information about this, like Payscale.com. Even though money and average wages should not be the sole determinant of your jobs choice, it should still be a factor in your decision-making. This is just a way of being practical about career decisions.
Typically, your average wage for a couple of years should at least cover your investments in the education you took to get the job. Average wage, among other measurable and immeasurable benefits, should make your investments worthwhile.
A person's average wage also determines the retirement benefits that he/ she will eventually get. This is ideally a good motivation to go for jobs and a career path that pays the optimal average wage based on your experience and training.
In the ideal setting, average wage should be commensurate to your experience, skills and training, and maybe even to your dedication to the job. This however, is not always true, especially when there may be more demand for jobs than the available work. At the same time, in today's global economy, the rest of the world is your competition for certain jobs.
19 August 2009
MACQUARIE GROUP is poised to book $250 million in revenue on the sale of its management rights of Macquarie Airports, with about half that amount likely to go directly to Macquarie Group staff... read full story
19 August 2009
MACQUARIE Group is poised to book $250 million in revenue on the sale of its management rights of Macquarie Airports, with about half that amount likely to go directly to Macquarie Group staff... read full story
21 October 2008
THE average cost of doctors' appointments is set to rise by at least $2 but Medicare rebates will not keep pace with the increase, further widening the gap paid by patients... read full story