Great weather, beautiful beaches, incredible wildlife and an active lifestyle: There are many reasons why moving to Australia is so appealing. But is having more disposable income one of them?
Upping sticks and moving to the other side of the world isn’t a decision to be taken lightly – especially when you consider the potential financial implications. So, to help you figure out whether moving to Australia will leave you better off, we’ve analysed average salaries, taxes and the cost of living and compared them to the UK.
Wage comparison
According to the Australian Bureau of Statistics, the average weekly wage in Australia is $1,923.40 (£984.19). In the UK, Office for National Statistics data shows the average weekly wage as £728.
Below is a comparison of the average salary in a number of different roles, according to data from Payscale.
| Occupation | Salary in New Australia | Salary in UK | Aus + or – % |
| Electrician | $80,474 (£41,169) | £36,607 | + 11% |
| Graphic Designer | $61,054 (£31,234) | £25,131 | + 20% |
| Computer Programmer | $75,076 (£38,407) | £31,114 | +19% |
| Mechanic | $56,130 (£28,715) | £25,688 | + 11% |
| Midwife | $64,844 (£33,173) | £32,361 | + 2% |
| Plumber | $74,015 (£37,868) | £26,536 | + 30% |
| Accountant | $64,862 (£33,185) | £35,665 | – 7% |
| Retail Store Manager | $59,075 (£30,224) | £26,346 | + 13% |
| Quantity Surveyor | $76,942 (£39,365) | £35,721 | + 9% |
| Teacher | $74,478 (£38,104) | £31,550 | + 17% |
| Wait staff | $40,843 (£20,896) | £18,362 | + 12% |
| Builder | $87,169 (£44,599) | £28,015 | + 37% |
While there are many ways of counting and income sources – as well as wide differences across industries – this table gives a clear indication that salaries are generally higher in Australia than they are in the UK.
The minimum wage in Australia is currently $24.10 (£12.33) per hour. In the UK, the minimum wage is £11.44 (less if you are under 21 years old).
Tax comparison
According to the OECD, as a percentage of GDP, total tax take in Australia is 34% while in the UK it is 35.3%. Using the SalaryAfterTax calculator for Australia and the UK, you can see this in the example below:
| Australia | UK | |
| Gross Income | $100,017 (£51,150) | £37,856 |
| Tax Contributions (PAYE) | $20,793 (£10,634) | £5,057 |
| Medicare/National insurance | $2,000 (£1,023) | £2,023 |
| Total Contributions | $22,793 (£11,656) | £7,080 |
| Take Home Pay | $77,224 (£39,492) | £30,776 |
As you can see, despite contributing significantly more in tax, because of the higher wage, you would still be more than £8,700 better off in Australia than in the UK, based on average wages and the current exchange rate.
Cost of Living, Australia vs. UK
You may earn more doing the same job, but when you consider how much things cost, will you really be better off living in Australia?
According to Numbeo, the cost of living in Australia is 7.2% higher than in the UK without rent, and 6.5% higher including rent. Most other things cost more Down Under too. However, due to higher salaries, purchasing power in Australia is 12% higher than in the UK.
You might also like:
