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Anthony Albanese will grow to be the third-highest-paid world chief, because of a pay rise that pushes his wage above that of US President Joe Biden.
It will likely be the primary time in historical past an Australian prime minister earns greater than their US counterpart.
All federal politicians will get a 3.5 per cent pay rise after a call handed down by the impartial Remuneration Tribunal on June 17.
Meaning an uplift of $20,570 a yr for Mr Albanese, beginning July 1.
The bottom wage for MPs will enhance by about $8000, bringing the minimal pay of a backbencher to $233,660 per yr.
Mr Albanese’s wage will rise to $607,520, the equal of about $US403,000.
The US president is paid $US400,000 per yr, a determine that has remained unchanged since 2001 when George W Bush was within the White Home.
Solely two world leaders will earn greater than Mr Albanese.
The world’s second-highest-paid head of presidency is Switzerland’s Viola Amherd.
She earns $A823,000 as president of Switzerland, a job that rotates yearly between members of the nation’s seven-member Federal Council.
Singapore Prime Minister Lawrence Wong is by far the highest-paid politician on the earth. He earns about $A2.5 million a yr to control the island nation of six million individuals.
The Canberra pay rise additionally means Australian MPs will grow to be the second-highest-paid legislators on the earth.
The three.5 per cent wage bump nudges them forward of Israeli MPs, who earn about $A232,000 per yr, however continues to be in need of the $A263,000 paid to US congress members.
The Remuneration Tribunal stated in its evaluate assertion that its main focus was to supply aggressive remuneration for public places of work to “appeal to and retain individuals of calibre”.
The tribunal stated the pay rise was decrease than the general 4.1 per cent wage inflation throughout the Australian workforce.
Opposition Chief Peter Dutton’s pay will rise by $14,640, bringing his annual wage to $432,280.
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