Sydney is among the best places to live in, with beauty, safety, a good climate, and excellent career opportunities. However, Sydney has a high cost of living, so you will need a good income to cover life’s expenses and save.
What exactly is a good salary in Sydney?
A good salary in Sydney is between $3,700 and $4,000 per month for a single person, amounting to an annual salary of $44,400 to $48,000 per year. Earning $8,000 monthly is considered a good salary for a couple with two kids.
Sydney is the heartbeat of Australia, boasting a vast and competitive job market thanks to the many multinational businesses and companies here.
The main fields that ex-pats greatly eye in Sydney are education, health, and unskilled workers.
Keep reading to learn about jobs and salaries in Sydney.
What is a good salary in Sydney?
An annual salary of $44,400 to $48,000 per annum before tax is considered a good salary for a single person in Sydney. This translates to a monthly salary of $3,700 to $4,000.
With this amount, you can pay all your bills, live comfortably in any of the city’s suburbs, and save good money. However, a family of four will need double the amount to live a comfortable life.
Anyone within this salary range in Sydney is considered a good earner. Earning the above amount in Sydney is possible because of the diverse job market.
However, the kind of life you live in Sydney is dictated by how you spend your money.
Let’s take a closer look.
Rental costs in Sydney are high, considering it’s among the most expensive cities in Australia. Rent is a significant expense, although the cost depends on your location. Areas within and close to the CBD are costlier than the outskirts.
Expect to pay $2,600 per month for a one-bedroom apartment and $4,000 for a three-bedroom apartment within the CBD.
If you settle in the outer suburbs of Sydney, especially those in the south or west, you will not pay that much. Here you can pay $1,600 for a one-bedroom apartment and $3,000 for a three-bedroom apartment.
If you need to study or work in the CBD, you must factor in the transport costs and accessibility. If you’re ambitious and want to work and save to buy a house, you will need $16,200 per square meter in the city center and $9,600 per square meter outside the CBD.
Power, entertainment, and communication are essential aspects of comfortable living. The average cost of electricity in Sydney is $190 per month.
Entertainment is also important, especially if you have kids, hence the need for the Internet. That will cost you $72 per month.
Food and groceries
On average, groceries are expensive in Sydney. A single person can spend $167 to $234 per month on food. For a family, the cost may be $600 to $850 per month.
The food purchases within this budget include bread, rice, meat, cereals, fish, fresh fruits and vegetables, and soft drinks.
The prices of farm produce fluctuate with the seasons. For instance, farm supplies will be costly in winter and cheap in summer because the supply is high then.
Most people in Sydney prefer buying food from supermarkets because they are cheaper, so you can buy in bulk.
Depending on the restaurant, eating out in this city can be cheap or expensive. Sydney boasts various dining options that accommodate any budget. On average, a good meal in a high-end restaurant can cost $26.
Recreation and entertainment
Entertainment and recreation are expensive in Sydney. With the abovementioned salary, you can afford them comfortably.
If you like movies, expect to pay $18 for two tickets. You may also consider subscribing to satellite or live-streaming services and be entertained in the comfort of your home. The subscription cost of these services ranges between $20 and $30 per month depending on speed, location, and provider.
For outdoorsy people, recreation will cost little because there are many recreational places to relax, contemplate, and have fun for free.
Sydney has efficient and reliable public transport services. The city has multiple transport modes, including buses, trains, light rail, and ferries.
The cost of transport here depends on where you want to go. On average, adult fares within the town are $50 per week, while a one-way ticket costs $4.50. Children pay half of the adult price depending on the distance.
If you’re a frequent driver and want to use your car, expect to pay $3 per liter of fuel.
Riders are given a 30 percent discount on light rails, trains, and buses during weekends, nonpeak hours, and holidays. However, the discounts are given to those using contactless payment methods or an opal card.
For convenience, buy Opal cards or tickets, usually available at airports or train stations.
Childcare and education
The cost of childcare in Sydney dramatically depends on the location and how long your child will stay at the childcare center.
On average, you will pay $120 per day, amounting to $1,440 per year. This is a significant amount of money, so I recommend you move to the outskirts of Sydney if you have children to take to the childcare centers. A suburb like Fairfield has several affordable childcare centers, so you can significantly reduce this expense.
Public schools offer free education, but parents pay some levies and additional costs for extracurricular activities. The charges can increase depending on your child’s age and participation.
Private and independent schools in Sydney are very costly, and if you opt for them, expect to pay up to $30,000 per year.
Parents with university students pay a lot of money because they must cater to costs like admission, accommodation, tuition, and fees, among other expenses. If your young adult is hard-working, they can work part-time as unskilled workers and earn some money to help cater to the costs.
The average cost of healthcare in Sydney is $105 per month or $1,260 per year for a single person. You must pay around $300 per month if you have a family. You will also typically pay more if you want private insurance.
The public healthcare system is known as Medicare, and its diverse coverage is almost 100 percent for in-patient services and 75 percent for primary care services.
If you’re an ex-pat in Sydney, you don’t qualify for Medicare, so you will need private healthcare insurance to cover you and your family. Luckily, many insurance companies in Sydney offer this type of insurance but remember to take enough time to read and understand the terms involved.
How much does the average person earn in Sydney?
An average person in Sydney earns $60,000 per year. The amount could be higher with the inclusion of overtime and bonuses.
The lowest average for salaries is $18,000, which is for the mid-class workers working in companies that are still rising. Of course, this compensation varies depending on your position and working schedule.
Income in Sydney also varies by race, gender, and age. Based on this average, a person working for $60,000 annually makes approximately $30 per hour. With this salary, you can cater to all the basic expenses such as food, rent, utilities, and education.
Salaries in Sydney grow by two percent per annum, meaning the average annual income will be around $80,000 in 2023.
Do employees in Sydney enjoy overtime and allowances?
Most jobs in Sydney allow for overtime, which is paid at a rate of 1.5 times what you earn in a regular working hour.
According to Australian law, workers will qualify for overtime if they start working before 6:00 a.m. or close the day at 10:00 p.m. They’re also entitled to a shift payment if their working hours exceed seven hours during the weekend.
A person’s occupation also determines the shift allowances. For instance, nurses can receive up to 26 percent extra pay for work done during night shifts.
Shifts or overtime allowances are paid based on the number of hours worked outside regular working hours.
What are the highest-paid jobs in Sydney?
Some of the highest-paying jobs in Sydney include:
2. Bank manager
3. College professor
5. Airline pilot
6. Chief executive officer
7. Construction project manager
How much do you need to earn to live a comfortable life in Sydney?
Sydney is among the most expensive cities in the world, especially for those with families.
Since the costs of living across the globe are increasing, as salaries remain constant, you will need a net income of $100,000 to live a comfortable life in Sydney.
Based on the average data on living expenses, a family of four will need at least $8,300 per month to live a comfortable life.
Facts about salaries in Sydney
- Men are paid more than women.
- The highest-paying jobs in Sydney are surgeons and CEOs, while dishwashers and check-out operators are the lowest-paying jobs.
- The construction industry is the biggest and best employer in Sydney, with an annual salary increase of three percent annually.
- Workers in Sydney get a salary increase of eight percent after every 16 months.
- Public-sector employees earn more than private-sector ones.
Tips on how to get a job in Sydney
Searching for a job in Sydney can be exciting but also daunting. It is, therefore, essential to understand the city’s job market and how you can increase your chances of getting your dream job.
Here are some tips on how to land a job in Sydney.
1. Understand your rights and responsibilities.
This is the first thing to do if you want to get a job in Sydney without much struggle. So what are these rights and responsibilities? Any employee in this city is entitled to workplace health and safety, leaves, and minimum pay.
Additionally, to work in Sydney, you must apply for a tax file number, an identification number used in Australia. It’s also the number used to track your tax deductions. Failure to have it will lead to a 45 percent tax deduction from your income.
Not all jobs in the world are advertised through the media or online. It is essential to network and reach out to people you may know in Sydney.
For instance, if you have an established link inside an organization, you can inform this person when submitting your job application. This will help push your resume to the top of the list of applicants. You can also expand your network by joining societies, clubs, or career centers.
3. Be flexible
Finding a job takes time, especially if you’re a foreigner with no local experience. You should therefore be persistent no matter how long it takes.
Also, remember to remain upbeat while employing job-searching strategies not commonly used by others. Be open-minded about job titles too, as any opportunity can be a game-changer in your career.
4. Polish your resume and cover letter
The role of cover letters and resumes must be addressed when it comes to searching for a job in Sydney. Ensure you take time and put effort into making them stand out.
Your resume should be straightforward and relevant to the position you’re eyeing. Your cover letter must state why you would like to work in the company and how your skills align with the requirements for the application.
5. Prepare for the interview
This comes after your application is approved. There are different styles of interviews, including video calls and group interviews, but the most crucial thing is to prepare, be confident, and stay positive.
Know your capabilities and strengths and prepare to vocalize your skills, experience, and professional interests.
Also, have ready answers for the most common interview questions. You can practice such questions to boost your confidence and eliminate fear.
Which industry offers the highest salaries in Sydney?
The healthcare industry offers the highest-paying jobs in Sydney. Medical practitioners earn $380,000 annually, while Internal medicine specialists earn $300,000 a year.
Other industries that pay huge salaries include mining, IT, construction, and law. If you’re studying and want to work in Sydney, I recommend you take marketable courses in these industries.
A good salary in Sydney is $8,000 per month for a family and at least $3,700 for a single person. This can afford all the basic expenses and other aspects that make life luxurious.
After reading this article, I hope you make an informed move to Sydney!