People in Sydney now need to save over $100,000 extra for a deposit on a house compared to 2018, and Melburnians need an additional $38,000 according to an article in this masthead this week.
While we are on comparisons, I heard this week of a medical science graduate earning a little bit over $50,000 for a full-time laboratory job. I was paid $47,000 plus very generous super as a lecturer in psychology at UNSW in 1995.
Bosses should be paying their staff so they can perspire as well as aspire – though maybe not for a $2 million Glebe terrace.
My colleague who started at UNSW in 1972 said he needed only three times his then salary to purchase a terraced-house in Glebe. There is one for sale now with a guide of $2.2 million. In 1972 terms, three times a salary of $700,000.
Sure, most university vice chancellors could manage it on their million dollar plus deals, but the prime minister on $550,000 could not, nor could a lecturer at UNSW on what is soon to be $123,620. So unless the lecturer married their vice chancellor, or Taylor Swift, don’t be looking for Glebe terraces.
And employers bang on about the youth of today. Their mystification about why the young seem different to them is answered with the evidence-free nonsense peddled by the demographic differences brigade.
Nicely packaged in easy to understand marketing speak, generations are “segmented” and given labels like “Gen Y”, “Gen Z” and “Millennials” by the purveyors of myths. Despite repeated peer-reviewed evidence to the contrary consultants persist in spinning palatable yarns to employers keen to understand what makes the young tick.
It is no longer good enough for employers to shrug their shoulders and claim this is not their fault.
Clearly what is off the cards in such generational sophistry is the unpalatable solution of actually paying their staff, so they do not have to sweat on paying the rent to an older investor’s pension fund, but also, it might actually being able to buy a house. Pay them so they can aspire as well as perspire.
Alternatively, give them a house. It is not as radical as it seems. We are seeing parents doing this for children all over Sydney – in the wealthy pockets at least. Career success rule one: have wealthy parents.
What do young workers want? A pay rise, or a house
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23.02.2024
People in Sydney now need to save over $100,000 extra for a deposit on a house compared to 2018, and Melburnians need an additional $38,000 according to an article in this masthead this week.
While we are on comparisons, I heard this week of a medical science graduate earning a little bit over $50,000 for a full-time laboratory job. I was paid $47,000 plus very generous super as a lecturer in psychology at UNSW in 1995.
Bosses should be paying their staff so they can perspire as well as aspire – though maybe not for a $2 million Glebe........
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