FCaldas

Hello everyone,

First of all, hello! I have just joined the forum.

I am hoping to get some help from you guys living in Sydney to access as to whether the salary offered to me will allow me to have a certain lifestyle I am trying to get in Australia.

Currently I earn £49k in the UK. I have been offered a $85k position in Sydney. I hear a lot about the 2x, 2.2x and 2.5x multiplier factor to get to a fair salary conversion so, on that scenario, I am not even close.

I am a 29 years old single man who is looking for this sort of lifestyle:

- Beach goer / kitesurfer
- Would like to live by myself (a Studio would suffice, and hoping I can find something for $400/week in a nice location)
- Be able to go to a good gym in Sydney (I am assuming that is at around $150)
- Salsa dancer (so I am expecting to pay $100/month for classes/workshops)
- $200 utilities bills for the Studio apartment
- $400 for monthly groceries shopping. I eat a lot of organic food, which is more expensive... so I am hoping that 400 bucks is enough
- $300 for some nightlife (I don't drink alcohol, I party with a pint of water in my hands, so that make things cheap
- Would like to have a car, but can live without one for sure
- Would like to live in Sydney CBD, most possibly. Would rather avoid north Sydney and the commute across the bridge
- Save some money for 1 overseas 3 weeks holiday (Southeast Asia for example)

* Something to know: I have a fairly expensive mortgage back home. It's 1100 AUD/month. So that will definitely be heavy on the current 85k offer.

What do you guys think?

Many thanks,
Fe

Bermudashorts

Where do you live in the UK?

This is certainly a drop in how well off you will feel. It would be a more severe drop if you are currently living outside the SE, if you are in London or the SE, you can still expect to see a drop in your living standards but not to the same extent.

The question is probably how badly do you want to go to Australia and if it is enough to offset the reduction in your material standard of living. You will certainly be able to survive on $85k, we took a drop initially but were still comfortable and happy to make that offset.

If you wanted to maintain a similar standard of living in the material sense, then you would really want $100-120k at least.

FCaldas

Hi there,

Thanks for your message.

I live in London and life's already sh*t here (pardon me) because of my low salary. So, I was thinking "I'd rather be a poor dude with the beach next to me than a poor dude in rainy London". I think that probably sums up my decision to move to Australia.

Obviously I plan to work a lot and strive in the company, with the hope of getting to a better position. I reckon that $120k is what I should be earning to have a nice lifestyle.

I didn't mention the benefits the company offers, which is 20% bonus (I would then be earning around $105k) and they also pay for my cell phone bill and, if I have to go to clients outside Sydney, they will pay all expenses. I don't consider this part of my salary per so, though. Those are benifts that are linked to a lot of "if". So I don't like to base my budgting on that.

Is is possible to find a Studio flat in Sydney CBD for $400/week?

thanks a bunch

Bermudashorts

Well there is definitely a beach here, but "rainy Sydney" might be a fair description too, considering that the rainfall here is significantly higher than in London in mm and also it rains on a greater number of days too.

I had a quick look on www.domain.com.au for apartments for under $400 per week, I wasn't sure if there would be many to be honest, but there were a reasonable number.

FCaldas

thanks a lot!
I will do some digging in domain.co.au

All in all, my expat colleagues, do you guys like Australia?

mikelincs

The answer you get will be the same as you will get from any expat in the country they live, some will love it, some will be OK and some will hate it and be wanting to leave.

old.sparkles

According to numbeo, the cost of living in Sydney is very similar to cost of living in London, so that may help - http://www.numbeo.com/cost-of-living...n&city2=Sydney

Can you rent out UK home to cover mortgage?

FCaldas

Seems to me that I will have the same sort of average life in Australia. Which only makes me believe that I should keep on working hard, studying hard and aiming for better paid jobs

I have taken the job just now. I like the Australian lifestyle, more than the british. The idea to live close the beach (and a proper good one) excites me.

I plan to come back to the university and do a masters degree.

Work hard and hope for the best

FCaldas

The home is already rented out! It's a frigging expensive property, that I bought when I was working in Switzerland and earning 72k base... Good times... Now I struggle with my UK pay...

Don't want to sell the property... Really think I have to keep it, for my future.
But, who knows... maybe I'll sell it and buy one in Australia, if I really fall in love with the place.

Is there any suburb in Sydney that can be reached in CBD in no more than 25 minutes that you could recommend?

commonwealth

and when it rains it pours (especially in June!), explaining the higher mm than London. in general it's nice sunny 80-90% of the time just like now.

i've been living in Sydney with a comfortable lifestyle on an average salary the past 4 years, and now i'll be able to afford my own home near the city. i've always lived below my means but withing my needs plus a few holidays here and there and buy my food (i don't cook), but still able to save for that first home deposit plus some extra!

you're single and so if you're smart with money and find good value, you will not really be that materially deprived!

BASHO

Just a few slight words of caution perhaps- ,

The employment scene in Australia is extremely fluid in many areas and the ability to pick up equivalent (or better) gainful if things go awry can prove challenging.

There are by virtue of dimension often simply less opportunities available overall in any given field than, say, London, New York etc.

There is a constant and unrelenting push in offshoring in Australia with banks and telco's being the first, but not only, culprits to mind at the moment.

IMO--UK£49k is worth a fair bit more than AUS$89k if both sums are base only (not including bonus and fringe) however fringe if tax free and hard could be a deal swinger.

FCaldas

Thanks again everyone for the valuable input

The offer made to me was: $85k base salary and 80/20 OTE bonus.

What does this 80/20 OTE bonus mean exactly? I know I have to reach a target in order to get it, but I am not sure what the 80/20 numbers represent?

Thanks

Bermudashorts

No idea, never heard the expression, I think you need to ask them.

FCaldas

Thanks, I will do that.

RedDragon2008

80/20 is noting the split between fixed and variable earnings component.

80% being fixed and 20% being the variable / commission component

OTE = Opportunity to Earn