Average Annual Salary to live on in Victoria
 

Hi All

Firstly I would like to say thanks to you all for the advice on here - Im a new member and have been reading a few threads on here.

The big question is - we are planning on to move to Victoria ,2 Adults,daughter of 5 years and one of 18 months.

My wife will be the main applicant as she is a nurse and I will be the House Executive Director:unsure:- an idea of roughly p/a to expect to live just normal not extravagant,

Any help would clear some uncertainties.

Thank you in advance
Gellie

Re: Average Annual Salary to live on in Victoria
 

Hi, because everyone's lifestyles are different, I always recommend - take the salary you are on now in £, multiply it by 2.5, this is the number of $ you will need to have a similar lifestyle.

So if you currently earn £40,000, you will need to earn $100,000 to buy the same stuff.

BB

Re: Average Annual Salary to live on in Victoria
 

What do you consider 'normal, not extravagent' living? People who earn $75,000pa have a very different definition from people who earn $120,000. The former might consider owning two cars a luxury, the latter an essential.

Re: Average Annual Salary to live on in Victoria
 

It all depends on where she will be working. If its central Melbourne and only one of you working I'd say in excess of $100k probably closer to $120k (that's only two average wages and most families are two income). If OTOH you go somewhere more remote from the city like Orbost or Shepparton or any of those other small owns that have a base hospital then you could probably get by on $80k. Obviously much easier to manage if you both work.

Re: Average Annual Salary to live on in Victoria
 

You can google to find average salaries pretty easily. But what you really want to know, is what will be comfortable for you. I agree with post #2 for that.

Re: Average Annual Salary to live on in Victoria
 

:blink:

Well I don't earn anywhere near 2.5 times the $ equivalent and live pretty much the same lifestyle.

Maybe Brisbane is cheaper?

Re: Average Annual Salary to live on in Victoria
 

Maybe.... I don't know, but that figure is a good guide here for people arriving now. Of course variables could include whether you have brought any capital with you to help buy a house, or maybe you have 2 incomes in the household?

BB

Re: Average Annual Salary to live on in Victoria
 

Yes, it could be if only coming with only cold hard cash (or the lack of it) and starting afresh.

Probably better to be more aware than less, so I agree.

Re: Average Annual Salary to live on in Victoria
 

I think it depends on where you are coming from and where you are moving to. Moving from the Slough to Adelaide and it wouldn't be 2.5 here either. But at the end of the day, it's a good rough guide for a lot of people.

Re: Average Annual Salary to live on in Victoria
 

Quite a scary guide though, methinks! :nod:

Re: Average Annual Salary to live on in Victoria
 

I find it a good guide. We have about 2.5 times GBP, going from SE UK to Sydney and it provides a similar lifestyle, we are a touch worse off in fact but that is because we rent here but had a very manageable mortgage in UK.

Re: Average Annual Salary to live on in Victoria
 

Hi All

We moving from London UK probably remote but a commutable journey to the City. Yes it will only be one income for now unless I can find cheaper childcare for my daughter of 18 months old.

We are going to make the move at least we tried and not to wonder the what if's. I appreaciate all your reply's. We the type of people that can tighten our belts to achieve our goals. Me I am also studying Accounting and graduate end of this year so I will have to find a job in that field -entry level.


Thanks any further info much appreciated

Re: Average Annual Salary to live on in Victoria
 

We also moved from London to Melbourne (albeit 6 years ago), so the £1 to $2.5 would definitely be relevant to you. Please don't underestimate this.

BB

Re: Average Annual Salary to live on in Victoria
 

Hi,

If it helps, I am also the breadwinner in our family and Hubby is the "House Executive Director". We have two kids aged 5 and 9, both in primary school. We're managing on a salary of around $70k before tax, plus FTB and a bit of rent assistance from Centrelink. I think you qualify for those if you're on a PR visa, but someone else may be able to confirm this.

We don't have an extravagant lifestyle on that but we can afford to have takeaways once a week, the odd weekend trip away, go to the footy or movies when we feel like it. We are also sending money overseas every month, once that stops life will get a lot more comfortable.

Let me know if you want more specifics - happy to help.

Re: Average Annual Salary to live on in Victoria
 

Hubby on $80k in Brisbane. We can just get by on this if we watch what we eat, don't go on holidays. We do run 2 cars, have foxtel & gym memberships so there's stuff we could cut if we needed to. Rent takes half take home salary for a shabby 3 bedder, paying for healthcare especially dentist hurts. We order clothes from UK. Personally feel that about $120k is a good minimum for Brisbane, probably more in Melbourne. We did have a high quality of life in SE UK though (in Oz for 7 years) and I'm only willing to drop my standard of living so much