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How does your income compare to everyone else's?


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#1 **Xena**

Posted 21 May 2019 - 08:20 PM

I found this interesting. Apparently a recent ANU study found almost 95 per cent of people had misconceptions about either the level of inequality in Australia or their position in the national income distribution.

Here's a little test to see if you can accurately predict how your income compares:

https://www.abc.net....stralia/9301378

I did my husband's income because I only get FTB currently and was surprised by my result. I guessed 39% better off but it was actually 63%

ETA: I believe it goes by income brackets rather than the specific amount you bring home. So you get the same result if you're in the bottom or top end of your bracket. Still pretty eye opening though.

Edited by **Xena**, 21 May 2019 - 08:44 PM.


#2 nasty snaugh

Posted 21 May 2019 - 08:28 PM

I was off by about 20%  -  I'm better off than I thought I was

Quite interesting

ETA - I'm in Sydney(ish), and I wonder if my estimate would be closer to my "local" average than the national average?

Edited by nasty snaugh, 21 May 2019 - 08:30 PM.


#3 Lunagirl

Posted 21 May 2019 - 08:32 PM

I guessed 5% lower than I actually was, so not too far off. I think the reason a lot of people think they are worse off than they are is that there is such a huge variance in the top few percent. Someone earning around $150k is in the top 4%, but I can see how someone on that wage would assume they are lower than that given people only a few percent higher could have an income of seven figures.

#4 TheGreenSheep

Posted 21 May 2019 - 08:33 PM

Interesting. I really thought I’d be higher in the percentages, however I was in the bottom 10%.

ETA I was better with DH income.

Edited by TheGreenSheep, 21 May 2019 - 08:35 PM.


#5 Lucrezia Borgia

Posted 21 May 2019 - 08:34 PM

yeh i was out....i thought i was around 70% better off...but it’s a bit higher. i think sydney incomes might be skewing the national average, dunno.


#6 LiveLife

Posted 21 May 2019 - 08:34 PM

Surely that scale cannot be correct?

#7 Freddie'sMum

Posted 21 May 2019 - 08:35 PM

Current income = zero.

#8 Lunagirl

Posted 21 May 2019 - 08:35 PM

View Postnasty snaugh, on 21 May 2019 - 08:28 PM, said:

I was off by about 20%  -  I'm better off than I thought I was

Quite interesting

ETA - I'm in Sydney(ish), and I wonder if my estimate would be closer to my "local" average than the national average?

I think your last point is also why people are off. Where you live and the schools your children attend are all influenced to some degree by income, so people do end up in bubbles.

ETA: TheGreenSheep - I'm sure I've read previously that people on lower incomes overestimate where they sit on the scale, probably again due to the bubble effect (everyone around you earns similar).

Edited by Lunagirl, 21 May 2019 - 08:40 PM.


#9 Avidreader

Posted 21 May 2019 - 08:38 PM

Supposedly 0% earn more. Obviously not completely accurate but I knew we were near the top. It’s a great position to be in after my own childhood surviving on family benefits.

#10 purplekitty

Posted 21 May 2019 - 08:39 PM

I guessed correctly but interestingly I know many people earning way more than us pay much less tax.

#11 just roses

Posted 21 May 2019 - 08:41 PM

I was bang on! I'm earning more than 80% of Australians (and not over $100k either)

#12 YodaTheWrinkledOne

Posted 21 May 2019 - 08:41 PM

i guessed correctly too.

#13 Avidreader

Posted 21 May 2019 - 08:41 PM

View Postpurplekitty, on 21 May 2019 - 08:39 PM, said:

I guessed correctly but interestingly I know many people earning way more than us pay much less tax.

I’m intrigued. How do you know how much tax others pay?

#14 Delirium

Posted 21 May 2019 - 08:41 PM

I was where I thought I would be, so I’m aware that I’m privileged (top 10%). I’m pretty proud of myself considering other stats count against me according to that article (I’m Indigenous and a sole parent).

#15 purplekitty

Posted 21 May 2019 - 08:43 PM

View PostAvidreader, on 21 May 2019 - 08:41 PM, said:

I’m intrigued. How do you know how much tax others pay?
Our financial and tax advisers tell us.

#16 **Xena**

Posted 21 May 2019 - 08:43 PM

View PostLiveLife, on 21 May 2019 - 08:34 PM, said:

Surely that scale cannot be correct?

I've edited my OP but I believe it goes by income bracket as indicated in the census rather than the exact amount you earn. So my result was the same whether my husband earns at the bottom or top of our specific income bracket.

Edited by **Xena**, 21 May 2019 - 08:45 PM.


#17 Avidreader

Posted 21 May 2019 - 08:44 PM

View Postpurplekitty, on 21 May 2019 - 08:43 PM, said:


Our financial and tax advisers tell us.

They breach confidentiality of their other clients or are you offered tax breaks that you intentionally don’t take up?

#18 Crombek

Posted 21 May 2019 - 08:44 PM

I did DH’s for him. He was off by 30%. This explains much.

Edited by Crombek, 21 May 2019 - 08:45 PM.


#19 purplekitty

Posted 21 May 2019 - 08:45 PM

View PostAvidreader, on 21 May 2019 - 08:44 PM, said:

They breach confidentiality of their other clients or are you offered tax breaks that you intentionally don’t take up?
How is it a breach of confidentiality if they talk in general terms?
PAYE taxpayers do not have access to the same tax breaks.

#20 Fizgig

Posted 21 May 2019 - 08:45 PM

I only work three days so I rated it as if I work five. I wasn’t far off what I thought. It doesn’t feel like I am that high when I see the holidays and houses that everyone around me seems to be able to have. Though if I was working five days a week I could probably have some of that too.

#21 #YKG

Posted 21 May 2019 - 08:52 PM

My guesstimate was 25% lower then where I actually sit. I’m actually surprised tbh.

#22 WaitForMe

Posted 21 May 2019 - 08:56 PM

So many ways to skin a cat.

Theres another one of these that goes by household income after tax, and number of people it supports. I'm waaaay down the bottom of the scale on that one but on this one I'm way up the top.

#23 Meepy

Posted 21 May 2019 - 09:22 PM

I was off by 20%. Am surprised as I thought it would be around the middle.

#24 Wonderstruck

Posted 21 May 2019 - 09:43 PM

I expected to be in the middle. Turns out I was off by around 20%...

#25 CallMeFeral

Posted 21 May 2019 - 09:43 PM

View Postnasty snaugh, on 21 May 2019 - 08:28 PM, said:

ETA - I'm in Sydney(ish), and I wonder if my estimate would be closer to my "local" average than the national average?

If you keep scrolling it shows you the average for your postcode and so on.


I wonder if it includes part time workers. I feel like the scale is artificially lowered if it's including people at the low end who work 1 day a week while their partner earns 6 figures. I think it would be more appropriate on household income.




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