salary advice

[kirra]

hi

 

i work in IT in investment banking. In london i earn a basic salary of £72,500 + bonus + pens

 

i have seen on the boards people say times your uk salary by 2.5 to get your amount in $AUD to maintain quality of life. there appears to be plenty of work in sydney, but not paying 2.5 times! (boo!)

 

agencies are asking 'what are you looking for? :eek: looking at the market and jobs suitable for me it would appear about $140k pa is the going rate.

 

would that salary in sydney maintain financially what i am currently used to?

 

sorry to talk numbers..i need tho to have some straight talkin'

 

thanks

[byrned]

hi

 

i work in IT in investment banking. In london i earn a basic salary of £72,500 + bonus + pens

 

i have seen on the boards people say times your uk salary by 2.5 to get your amount in $AUD to maintain quality of life. there appears to be plenty of work in sydney, but not paying 2.5 times! (boo!)

 

agencies are asking 'what are you looking for? :eek: looking at the market and jobs suitable for me it would appear about $140k pa is the going rate.

 

would that salary in sydney maintain financially what i am currently used to?

 

sorry to talk numbers..i need tho to have some straight talkin'

 

thanks

 

Word of warning if you are thinking of giving up that type of salary for a move to oz make sure you have a contract signed sealed and delivered for the amount of 140k, agencies sometimes can promise a lot and not deliver.

[Guest The Ropey HOFF]

You need at least $2 to $1 and nearer $2.2 would see you right and when you got there the cost of living would be very similar to here in the uk. $2.5 to £1 is too much to ask, i read that post and to me who has been there in april this year, the cost of things is nearer to $2.2 to £1.

 

Best of luck and money isn't everything and on a wage of $130,000 plus, you will have a great standard of living in Australia, but Sydney is THE dearest place to live, so you might need more, especially the cost of houses.

[leicesterboy]

Just had to go through some similar financial review process myself about a possible move to Sydney.

 

It really depends what you currently have in the UK, especially regarding accommodation and family situation and what you expectations are for living in Sydney.

 

If you are looking for a 4 bed house, nice area etc..you could easily spend $4k+ a month, which means that (LAHFA aside) then >50% of post tax of $140k would be going on rent.

 

If you will be on a 457, then add in schools fees if you have kids then c$4.5k per kid each year for state school, potentially much more for private.

 

Overall, best to figure out your disposable income after the biggies (accommodation, education, travel, food, ...) and figure out what that would allow you do given you own situation (single, married, kids,...) in the UK or in Sydney - this helped me make some practical comparisons rather than focusing on the headline numbers.

[fleabo]

hi

 

i work in IT in investment banking. In london i earn a basic salary of £72,500 + bonus + pens

 

i have seen on the boards people say times your uk salary by 2.5 to get your amount in $AUD to maintain quality of life. there appears to be plenty of work in sydney, but not paying 2.5 times! (boo!)

 

agencies are asking 'what are you looking for? :eek: looking at the market and jobs suitable for me it would appear about $140k pa is the going rate.

 

would that salary in sydney maintain financially what i am currently used to?

 

 

 

No. If you are moving to be financially better off you should probably stay where you are. But if you want to live in Sydney sometimes you got to give a little to gain a little...

[kirra]

thankyou all. confirms my suspicians. im just unsure my marketworth now and no idea what salary to ask for. i dont want to undersell or over pitch myself.

 

i neglected to add im actually an aussie from newcastle/sydney! ok sounds weird, but, ive been living in the uk the past 10 yrs and feel so out of touch with 'home' (home right now feels more london!). im getting frustrated with the math of things. im frustrated with how expensive it seems there, yet the salaries just dont add up. but, its just one of those things you have to suck up.

 

last time i worked in sydney i earnt $45k pa... my career has progressed alot in the uk, so going back has made me double take at what my earnings should be. 10 yrs ago $100k+ seemed massive, now, not so .

 

having family and friends again and even nanny and grandads close by is going to be worth alot. i just hope my husbands transfer to the sydney is approved as altho i can see a few cuts in lifestyle, im ecstatic to be making the move. i do though feel more like a pom in oz!! :laugh:

[Guest Mark X]

I think it sounds like you are making the move for reasons other than just financial, so in many ways as long as you have enough to live comfortably on you should be fine. Sydney is getting more expensive all the time compared to the UK but its all relative and once you are here (and have all your money here) its not so important. I think $140k pa is a pretty reasonable salary to live on.