In Australia, our financial year ends on June 30. As such, today marked the start of a new spreadsheet of my annual earnings.
For all the years I was a student (six) and the first two of full time employment, I used to work casual jobs. Even when I started as an engineer, I continued to do one night a week of note taking at university for payment, and scribed for exams. In actual fact, I was alarmed to move to one sole source of income!
Thankfully, I work in an industry where overtime is generally paid for, and on great terms. Work that doesn’t come right after your normal hours is a minimum four hour payment at between 1.5 to 2 times you normal wage.
In the first 4 years of my career, overtime was widely used, and I benefited greatly. In the past year, it’s been less plentiful. In the past six months, I’ve been acting in roles where overtime is no longer part of the payment structure, however, I’m on a higher wage than my formal classification, so in my mind, I’m still ahead.
Being the end of financial year, I reviewed my earnings, and my ‘additional’ earnings, here’s how things look:
Now if only I had a wonderful little graph to show where all the benefits of the extra spoils went! Undoubtedly, a lot went into savings, mainly onto my mortgage offset account. And naturally, some would have funded my very imminent trip to Japan 😀
This is better than last year, where I earnt an extra 7.8% of my salary, and 4.7% the year before.
Overall though, I’m incredibly lucky to have such a great and well re-numerated job, that still allows me to give back my time and energy to other causes (church, co op, SES and other ad hoc things like the Salvation Army Red Shield Appeal). I’m not actively striving to earn any more money, but appreciate every dollar I’m given, and try to be the best steward of my money. Rest assured, maybe 1% goes on chocolate… maybe I should ensure it’s fair trade 😉 (Though, I usually just buy what ever is offered as fundraisers in the office!)
So you have the opportunity to earn more in your normal job? Do you take on additional work or side hustles to earn more money? Or do you find your salary is more than enough for all your wants and needs?