Yes in part is - i.e. your wages increase roughly by cpi to keep up with inflation. BUT you also generally get additional pay increases as your skills and experience develop (i.e. moving up levels/bands) as well as the promotions you can get as your skills/experience develop.
So it is not at all unreasonable for a (young) person to see their annual wages double over a 10 year period. I say young person as many people will hit a platau in later life in terms of promotions - but this thread is about so called young people.
So again - even the real estate spruikers are claiming a 100% increase in house prices over the next 10 years. What I am saying is that it is perfectly normal for young (motivated) people to also increase their salary by 100% over that same 10 years...
$100K loan seemed big ten years ago - doesn't seem so bad now. $400K loan seems big now - doubt it will in 10 years time..
