Of course, not only medical graduates can be caught up in the difference between salaries and hourly wages. Law graduates who regularly fall behind in processing cases, engineers who work overtime in the field, nurses who cover shifts: all will find that their hourly time is «sold» much cheaper than they think. In short, in various industries, additional education or practical training is often required before obtaining the professional certifications required to «exploit» competitive salaries. Therefore, according to the Hays Salary Guide 2020-2021, there is often an early salary increase for graduates entering their second and third years as full-time professionals (this, of course, also reflects the growing experience). For example, the average salary for a full-time lawyer at a top-notch law firm in Sydney is $65,000. This amount increases to $75,000 upon approval. Similarly, the average salary for a mining engineer with a degree in Western Australia is $107,000. This amount increases to $137,500 after receiving professional certifications. In a way, that`s the way it should be because your salary isn`t everything. Yes, it`s important, and you should take it into account: but if you`re still not sure, it can be worth turning to other sources of information. For example, what do graduates who are currently receiving the salary they want to earn for themselves say about their lived work experience? Do they think it`s worth it? The evidence for the wage gap is clear, even when considering entry-level positions for graduates. To find out, you can search for each employer on this site, go to the Reviews section, and find out what recent graduates say about their salaries.
Are they satisfied with what they earn for their work? Pay close attention to their answers: they will tell you much more than any simple number. In the past, lawyers have worked exceptionally long hours, with graduates working 49 hours a week or more. But in March 2020, the Fair Labor Commission forced law firms to track the number of hours worked by more than 40 of their graduates, earning more than $80,000 a year. Companies must also indicate the threshold beyond which graduates can expect additional payment. Ultimately, you can expect a much better graduate experience (and a salary!) when you enter the profession than you would have in the recent past. When taking on a new role, it is not uncommon for graduates to be put on probation. During this probationary period, which usually lasts between three and six months, your employer will assess whether or not you are effective in your new role. Typically, they help you develop performance objectives (often referred to as key performance indicators) that, if met during the probationary period, demonstrate your suitability to continue working.
Now that you`ve read this article, you`ll be more familiar with the different factors that can affect graduate salaries and should also have a clearer picture of what you can expect both as an hourly rate and as a proportion of the overall industry average. However, it is understandable that you always find the data abstract and useless for your next career change. For example, the 2020 Graduate Outcomes Survey (GOS), published by Quality Indicators for Learning and Teaching (QILT), identified consistent wage gaps between different occupations. The average salary for male science and mathematics graduates was $60,000; For women, it was $57,500. Male architecture graduates earned an average salary of $61,000, while their female counterparts earned $55,000. Because of the gender wage gap, male graduates earned an average salary of $65,000 and female graduates $58,900. There`s a catch, though: medical interns also work more hours per week (49 on average) than graduates from any other industry, making their hourly rate lower than dentistry, engineering, education, and math graduates. This difference is even more pronounced for the many medical interns who work up to 70 hours per week, at which point their hourly wages fall below graduates in most other industries. With the Legal Service Award 2010, a new fee salary for lawyers came into effect, which also determined the rate of increase of the minimum premium in subsequent years.
This award is only valid for law graduates, trainee lawyers and administrative staff.