Salary equivalent - Sydney to London

[Andypandy09]

Hi all,

I am pondering transferring from London to Sydney with my work and wanted to know what my salary equivalent would be. I currently earn 70,000 pounds plus 15 percent bonus, and my work want to offer me 130,000 plus 15 percent bonus, not including superannuation. Is this the equivalent in terms of cost of living and obviously not the exchange rate? After speaking with some individuals I don't believe it is - I may be getting *screwed* over. 

Your thoughts are appreciated.

Joey

[paulhand]

2 hours ago, Andypandy09 said:

Hi all,

I am pondering transferring from London to Sydney with my work and wanted to know what my salary equivalent would be. I currently earn 70,000 pounds plus 15 percent bonus, and my work want to offer me 130,000 plus 15 percent bonus, not including superannuation. Is this the equivalent in terms of cost of living and obviously not the exchange rate? After speaking with some individuals I don't believe it is - I may be getting *screwed* over. 

Your thoughts are appreciated.

Joey

Depends on what you do ... 

- in order to get you a visa, the company will need to demonstrate that it is paying you at least the market rate and, at least, what it pays Australians doing the same role

- you can get some sense of overall pay levels here: https://joboutlook.gov.au but it’s probably better to look at ads and speak to a recruitment consult who specializes in your line of work. 

[Jon the Hat]

19 hours ago, Andypandy09 said:

Hi all,

I am pondering transferring from London to Sydney with my work and wanted to know what my salary equivalent would be. I currently earn 70,000 pounds plus 15 percent bonus, and my work want to offer me 130,000 plus 15 percent bonus, not including superannuation. Is this the equivalent in terms of cost of living and obviously not the exchange rate? After speaking with some individuals I don't believe it is - I may be getting *screwed* over. 

Your thoughts are appreciated.

Joey

I have just had a quick look at some Market salary rate data I have, which is pretty general to be honest, but it suggests a ratio of more like $2.2 to the £.  That said, you need to consider the cost of moving yourself to Aus and the visa etc.  If this is a 3 year adventrue then having someone else pick up the tab for the relocation is hugely beneficial.  Typically they would be spending ~ £30-40k to get you over there if you have a family, and Maybe £20k if you don't

[Andypandy09]

Thanks Jon the Hat. I thought something similar between 2.2 to 2.5, hence why I was a bit hesitant with the current offer. 
 

In terms of relocation, flights are included and some accommodation, but it was more the salary I was concerned about. As I was more determined to work out cost of living.

[Marisawright]

1 hour ago, Andypandy09 said:

Thanks Jon the Hat. I thought something similar between 2.2 to 2.5, hence why I was a bit hesitant with the current offer. 

It really depends what industry you're in.  Some occupations (doctors, for instance) are much better paid in Australia, but corporate and finance jobs have generally lower pay rates in Australia than in the UK.