Australians feel they need to earn $326,900 a year to be rich because of social media pressure, a survey has found.
That kind of income is more than triple Australia's average full-time salary of $90,329 and more than five times the mid-point salary of $62,400 for all workers.
Just 3.5 per cent of Australians earn more than $180,000 a year, putting them in the top tax bracket along with the likes of surgeons, investment bankers and politicians.
Despite very few people making that kind of money, a Finder survey of 971 consumers found Australians would only feel wealthy if they earned $326,900 on average.
Australians feel they need to earn $326,900 to be rich because of social media pressure, a survey has found. That kind of income is more than triple Australia's average full-time salary of $90,329 and more than five times the mid-point salary of $62,400 for all workers (pictured are women at the Opera Bar in Sydney watching the Melbourne Cup)
Generation X consumers, born between 1965 and 1980, felt they needed to earn $354,100 compared with $286,964 for Gen Z Australians born from the mid-1990s onwards.
Women were a little greedier, wanting $333,010, while men desired $318,952.
Finder's personal finance expert Kate Browne said Facebook was driving envy and fuelling a fear of missing out.
'Social media and the "FOMO economy" can make it seem like everyone around you is hustling their way to the top, but appearances can be deceiving,' she said.
As of August 2021, the median Australia salary for both full-time and part-time workers was $1,200 a week or $62,400 a year, Australian
