Shock horror people earn most in their 40s

The Herald reports:

You’ll never earn as much as you do in your 40s, data provided to the Herald by Statistics New Zealand reveals.

Those aged between 40 and 44 earn the most throughout their career, recorded at $1325 per week, but that average dips – by a few dollars – for those slightly older, aged between 45 and 49, at $1323 per week.

The average earnings by age group is:

• Teens $356
• 20s $831
• 30s $1,194
• 40s $1,324
• 50s $1,218
• 60s $941

This is pretty expected. But worth remembering this when people insist that a 16 year old first time worker must be paid 75% of the average wage – you are comparing 16 year olds to those with 25 years experience.