mvagusta

Not an exact science. Figures are rounded up/down.

They used a factor of 1.88 approx 46000 +15%*1.88=100000

The op need to see if this is the going rate for his new job and compare like for like cost of living.

freebo

Thats what I'd expect, from their p.o.v. they'll just be comparing you with hiring a local to do the same job, not applying any sort of conversion on your current salary. From my experience $100k in Sydney won't buy the same as £46k in the UK, its also not a wonderful salary for a Business Consultant, never mind a PM.

Beoz

I recently went through the same decision as you. My company started an exact exchange rate which I laughed off immediately and told them to look at the currency graph. They came back with a 2.3 conversion which I accepted. I felt at the time that a fair exchange was about 2 to 2.1 and having done many trips to Australia over the past 2 years I had an opportunity to get a feel for cost of living compared to London.

I've had my first couple of paychecks now and things are good. I'm more concerned about what I can save every month rather than the cost of living. In London I was saving on average about 700 pounds per month. So far in Sydney I'm looking at about $2000. Mind you I had a few hits with rental bonds etc but you expect that at the start. All in all I think I've made a good decision financially.

You also have to bear in mind your companies ability to find someone else who can do that job. It's a supply and demand market. My partner got a nice little x3 conversion but no one does that job in Australia.

Best of luck making a decision. Just remember - you can't put a value on the price of experience of living in another country.

spottydog

I'd probably think $120k to $130k inc super would be about right for this sort of role.

What sort of visa will it be too and what will they be paying for in your move? If it is a temporary visa LAFHA would boost your salary quite a bit.

mpgrewal

These are very different roles in terms of the nature of work involved. Engagement managers normally maintain liasions with multiple clients and manage multiple consultants across a spectrum of projects.

So accountabilities of EM are quite high as compared to a Consultant/BA who normally interacts with one client at a time. $120k is the ideal package for someone who is just entering EM role in Sydney. Good luck

isgraham

That's not been my experience at all. I moved back to London 4 months ago and I have found it to be far cheaper than Sydney. I was on around $150K base and I (at the current exchange rate) took a pay cut to get back into the City and I am vastly better off than I was. Food is cheaper and so is housing in fact other than petrol I'm struggling to find anything more expensive in London. Catching the Tube is crap though and so is the weather.

Pomster

I feel I must be living in a parallel universe. We returned to London (although frm Melbourne) in August and I a finding it far more expensive. Every one else says it is cheaper but I have not found that. We are finding managing a budget far harder here (for food, bills etc)

isgraham

Interesting because I used to spend far more in food shopping in Sydney than I do here in London I think I probably spend about 40% less.

Bermudashorts

Why do you say you took a pay cut at the current exchange rate? I doubt anyone moving that direction is going to be able to get a GBP equivalent at current exchange rates. If you are comparing things by looking at current exchange rates then I am not surprised you are finding it cheap.

I think it is much the same myself. I pay a lot more in accommodation now in Sydney, but then I live in a fairly large house 40 mnutes on a bus into the CBD. If I lived in the same size house a 40 minutes bus ride from the City I think it would be pretty expensive in London too.

IvanM

Find out the going rate for the role in Sydney. The market talks more than cost of living.

ABCDiamond

Using some figures I did in 2009, your £46,144 is 1.67 times the UK average full time wage at the time.

The current Australian Average Full time total earnings multiplied by that same 1.67 = $115,000. Add your 15% to that and you get $132,000. Super is not included in average wages, so that figure should be just the salary.

googoosan

Thank you guys for the replies. They have come back to me with an offer of 100 k, up from their initial offer in 80-90. I was at 135, when they said 100. I have asked for 115 with LAFHA, as a final try.

Let's hope they agree.

cheers,
Jay

Beoz

Might I add ..... LAHFA is not your employers tax break, its your tax break. They shouldn't for one second throw that into your overall salary negotiations - but they to have to support your claim for it.

freebo

^ true, and also bear in mind one option is to use a "salary packaging company" who will process the LAFHA for you, they charge a fee (haggle, should be around 3% but in your case as you're not using an agency they may also remove the need to you to form an ABN). TBH though, we're now getting into "advice from an accountant" land.

James516

I moved 3 years ago at a different exchange rate, to a different city (Brissy) in a different industry so the comparison may not be great, but I was on about GBP44K and came to $125K inc super, no LAFHA, and my disposable income went up. $100K in Sydney though is pretty low if you are used to mid 40's in London. I was offered (3 years ago) $130K in Sydney and felt that it wouldn't be enough to keep my lifestyle compared to London.