§-Career vs cost
Electrical engineer: salary vs cost of living
Job Outlook publishes a full-time weekly-earnings figure of $2500 for Electrical Engineers. After estimated PAYG income tax, the 2% Medicare levy and any HECS-HELP compulsory repayment, take-home pay is approximately $1,677.15 per week.
From gross to take-home
| Component | Annual AUD | Weekly AUD |
|---|---|---|
| Gross salary | $130,000 | $2500 |
| Income tax (2024-25 resident scale) | -$29,788 | -$573 |
| Medicare levy (2%) | -$2,600 | -$50 |
| HECS-HELP compulsory repayment | -$10,400 | -$200 |
| Take-home pay | $87,211.8 | $1,677.15 |
| Without HECS | $97,611.8 | $1,877.15 |
Sanity check: income tax 29788 AUD plus Medicare and HECS-HELP repayment of $10400 AUD.
Rent as a share of take-home pay
The 30% threshold is the conventional definition of rental stress. Anything below is considered comfortable; anything above squeezes everything else.