Job move after disappointing review

LSydneyBeachGuy on 31/08/2016 - 08:38
Last edited 03/09/2016 - 17:00

Hi OzBargainers,

Long time listener, first time caller.

Bit of a dilemma which I would like the collective input on.

My situation (take these with a pinch of salt. I don't want to be identified by friends/colleagues)
30s, Male
Anglo Saxon origin (I am going to say U.K for ease of writing)
1 baby (1 more on the way) + wife (Doesn't work)
$15k savings
$30k in super
Rent ($3200 month with 45min commute each way)
No debt or other assets

The above is low because I spent all my life savings on education (I have a BA, MSc & PhD) , and only recently moved to Australia (2 Years).

Work in financial sector (Derivatives Pricing)
Current salary $150k + Super (so about $165k inc super)
Contract says $15k bonus + bonus tied to performance of firm.
Been with them 2 years and never had raise/bonus before, and at current review got told another 12 months of no pay rise and 0 bonus.
Claims company wise they aren't doing great etc, when I know this is a lie.
This is a fairly large hedge fund, with offices in London and Sydney.

Contacted a few agents and they have proposed a couple of job options:
1) $160k-$170k inc super with a bonus of up to 100%
2) $140-190k inc super with a bonus of up to 50%

The second job has the opportunity of relocation to Houston (Texas), which is really interesting as I am getting quite tired of Australia.
Texas has a 0% Income tax, and housing is so cheap.
Plus it's an adventure.

We find Australian tax rates really high together with the cost of housing/cars/living in Sydney.
On current salary I don't manage to save anything each month.
We would love to buy but a decent unit is $1m, with a house around $1.5m in Sydney.

I actually enjoy my job, and if it wasn't for the financials, I would stay.

What are your thoughts.
Thank you!

UPDATE: 2 Sept 2016
Ended up taking option 2.
The job will be 2 years in Sydney then 2 years in Houston.
Salary quoted was actually in USD (250k AUD + bonus of $125k AUD) , plus managed to get a sign on bonus of $100k AUD.

Thank you to all the people who took the time to read and understand my actual dilemma, rather than villify me for having an expensive rent and not having saved up much so far.

I see no joy in saving $200 a week in rent and live somewhere undesirable to me, when I could fight harder at work and more than make up the difference.
This wasn't supposed to be a thread asking how I can save a few hundred dollars by living frugal.

I was asking about leaving an employer who didn't deliver on their promise and 2 jobs, one with a much higher bonus component, which as per my (now former) employer, is never guaranteed.

Whilst the other option had a higher base and lower bonus, it also has the opportunity to move to another country in a couple of years time, at their expense.

From my limited time on this forum, it appears that if you are not a property owner, make too much money in your job, are not saving every possible cent you earn by seriously compromising your lifestyle, you will be villified and called a moron.

I came here for advice, which from the small minority, I got.
The vast majority scalded me for spending so much on rent, and wondering where the rest of my salary went.

I never needed advice in that camp. I gave a transparent assessment of my situation for full disclosure.
I am more than capable to save.

I hope to remain an active member, and enjoy the passionate discussion, but this first experience has left a bitter taste in my mouth.

Best of luck to you all in your quest for bargains.

Education & Work

Comments

  • hell0 on 31/08/2016 - 08:44
    +125

    "I am getting quite tired of Australia. "

    You probably should leave for a better country.

    • Gershom on 01/09/2016 - 12:01

      You probably should leave for a better country.

      If there was one. But I agree he should leave.

      • [Deactivated] on 01/09/2016 - 15:22
        +42

        Australia as a country is quite standard. It's good, but it's boring. I can imagine Australia being the perfect place to grow as a person, but the perfect place to stagnate as well.

        • btst7000 on 01/09/2016 - 23:57
          +12

          Lived abroad, lived in a couple of states at home and this is pretty accurate. Australia is amazing, maybe the best country in the world to raise children but there's better places to make money and have fun for sure.

        • Kangal on 03/09/2016 - 00:04
          -2

          @btst7000:
          Yes, but in America everyone has a gun… so any day can be your last.
          Especially with their unapologetically vigilant police force and terrorism squads.

          Biggest immediate danger here seems to be motor vehicle.
          (at least with driving your car here you get some level of control).

        • virhlpool on 03/09/2016 - 12:23

          In terms of jobs/opportunities and salaries, yes. AUD value is anyway lower than USD and on top of that salaries are lower too. Cost of living and property prices are much higher to make it worse. Note: I am not referring to minimum wages.

        • virhlpool on 03/09/2016 - 12:27
          +8

          @Kangal:

          Yes, but in America everyone has a gun… so any day can be your last.

          I understand their gun law situation, but you are portraying it as if a huge number of people in society are killed by guns which is apparently not true. I have known heaps of families living there for more than 3 generations and no one in their families has ever been affected by gun laws. Life there isn't as bad there as Non-Americans claim it to be.

        • Kangal on 03/09/2016 - 13:42

          @virhlpool:

          Sure, on average it isn't worse.
          However!

          You can't just ignore the fact that they have leanient gun control and distribution, and that it isn't a high risk factor.

          Adding to this, they do have a documented higher jobless count and drug related incidents, on top of stress…it just means there are more people likely to go on a killing spree and the tools to do it are easily accessible (in contrast to Australia).

          Just like comparing driving a car and flying a plane. Statistically car driving is more deadly. But if there is an aircraft incident, the damage is usually on a much higher scale, like USA's 9/11 incident.

        • bernsy on 03/09/2016 - 15:29
          +1

          @Kangal: you are allowed to own a gun to protect yourself also . so its #winning win win situation there

        • btst7000 on 03/09/2016 - 18:37
          +2

          @Kangal:

          Hahaha. As a gun owner in both America and Australia and as someone who has lived around America (including detroit) I can tell you that America is almost as safe for the average person as Australia is. If you don't believe me, look up the statistics. (Make sure you adjust for outliers like black on black gang violence).

        • nobro25 on 05/09/2016 - 12:50
          -1

          @bernsy: That's the most over-rated stupid comment I've read. To protect oneself with a gun? What you're defending is a bluff essentially. What if the two of you opened fired towards one another bam bam you're dead, you're both dead. The funny thing would be that the reasoning of opening fire is to defend yourself from the other guy, and he'll say the same thing resulting in a infinite paradox. haha!

        • bernsy on 08/09/2016 - 21:12

          @nobro25: its not dumb, that is exactly the reasoning why in the US everyone has the right to own a gun…

      • retiredfeline on 01/09/2016 - 15:49
        +4

        You could have suggested that the sentence is missing a comma after leave. ;)

      • [Deactivated] on 01/09/2016 - 17:01
        +32

        I suggest you spend some time abroad. Not "tyre kicking" on a holiday, but actually living abroad. I was born and bred in Sydney and then lived in UK and Japan and I currently rate Australia 3rd out of my list of countries I have actually lived in.

        To the OP, I have worked in a similar field to yourself and the opportunities overseas are limitless. I would not pay the overpriced amount for a Sydney property (1.5m spend for a "do'er upper") and go overseas. The opportunities for your child will be far greater and as a bonus they won't inherit the ridiculous debt burden this country owes - they blew the mining boom on an inflated property market with little else to show for it.

        • SydneyBeachGuy on 01/09/2016 - 18:43
          +13

          Thank you for your constructive comment w8.

          One of the few people to actually read and understand what my initial point was.
          Glad you see where I am coming from.

          It baffles me that people are not more upset about the state of the propert market over here.
          It's a drain on the economy, and future generations will have no chance of owning.

          I am from the U.K. originally.

        • [Deactivated] on 01/09/2016 - 19:39
          +9

          @SydneyBeachGuy:

          People are upset, but any criticism gets dismissed as either:

          a). racism or xenophobia. Two of the most overused and abused words in the English language.

          b). lazy, stupid, bludgers, leaners, etc.

          My only comment would be if you just simply get tired of places then what makes you think the same won't happen anywhere you go? It's also a bad idea to move around a lot with a small child, this is well documented, so wherever you choose I hope you make sure you're happy with it.

        • [Deactivated] on 01/09/2016 - 19:58
          +1

          @SydneyBeachGuy: Yep, for some reason in Australia inflation appears to be cited as a national success story. Wayne Swans "Envy of the world" comments were us avoiding a (much needed) deleveraging, which the rest of the world was embarking on at the time.

        • Gershom on 01/09/2016 - 21:18
          +5

          I have lived in USA, UK, Spain, Switzerland, and Australia. I have travelled to many other countries. I rate Australia first in the list of countries I have lived in or travelled to. You have no idea how much time I have spent abroad, but it's actually more than 27 years.

          Your assumptions are therefore invalid, but you are entitled to your opinion. As am I.

        • [Deactivated] on 01/09/2016 - 21:26
          +7

          @Gershom:

          Ok, so I take it baby boomer with house fully paid off? Australia is a very different country for cash/asset poor.

        • Gershom on 01/09/2016 - 21:50
          +12

          @w8:
          I was cash and asset poor when I arrived here as a migrant with nothing, and now I'm not. It is all down to the opportunities that Australia provided, and working my arse off for years. My eldest daughter is a doctor, my other daughter a senior executive working in government. We live in a beautiful country with boundless opportunity, inclusive, diverse and fair, and when I see a migrant making $150k and whining about his lot in life it leaves me shaking my head. I can't help but wonder what such people expected when they came here. Australia, IMO, is the best place in the world for anyone who is willing to get of their arse and work for it, and especially so for folks who are able to count their blessings.

        • Gaz1 on 02/09/2016 - 15:11
          +1

          @w8: I'm not sure if earning $150k with no debts should result in cash poor - I guess it depends on your lifestyle.

        • blergmonkeys on 03/09/2016 - 09:52
          +1

          @Gaz1: and living in Sydney.

          I live in cairns, make a similar amount and am way ahead (3 years in, significant growth in salary from$75k to $150k. Am a doctor).

        • virhlpool on 03/09/2016 - 12:34

          @Gershom: Request you to elaborate on the following if you have valid points:

          1) Why do you think that Australia has more job and career growth opportunities and higher salaries (not min. wages) as compared to the other countries you have listed?
          2) Why do you think that Australian cost of living and property prices are ridiculously high considering the salaries here?
          3) Why do you think our kids will have a huge number of opportunities to succeed financially here in Australia?
          4) If you actually don't think any of the above, why do you rate Australia as the best place to live in the above list?

          Appreciate your thoughts.

        • Gershom on 03/09/2016 - 14:38
          +1

          @virhlpool:
          Why are you trying to put words in my mouth and then asking me to defend them? If you don't share my views about Australia, then fine, have a different view. But if you, too, are a migrant and dislike the place so much, then why do you stay here?

        • dtc on 03/09/2016 - 16:38
          +1

          @Gershom: love it or leave it?

        • Gershom on 03/09/2016 - 19:00
          +2

          @dtc: More like life's too short, if you're in a situation you don't like then change it.

        • Geekomatic on 04/09/2016 - 15:18
          +2

          @SydneyBeachGuy: I agree. I migrated from the USA to AU some years ago. The insane increase (inflated) of property values in AU is really the only thing out of proportion. If you look at $15-20ph pay rates, everything is fairly affordable & inline EXCEPT housing/rent. All businesses must charge ridiculous prices to cover their insane rents. A tiny, local bakery/eatery here in WA had their rents raised to the point that a basic, two person brunch/lunch costs $50! I think that's ludicrous…

          At this point, the best thing AU can do is to stop selling out AU land to overseas investors. Pretty soon, AU will not own itself! 30 year leases should be implemented. Hawaii (& many other countries) did this long ago.

          I guess there are just too many greedy pollies out there ready to sell us all out.

          Glad you've figured out what to do & that it's worked out well for you.

          :)

        • F1Maniac on 05/09/2016 - 07:07
          +1

          @SydneyBeachGuy: try Singapore for a change. Suppose experiences are relative so for me Australia seems cheaper and far more affordable. But I live in brissy through and would never want to in Sydney.

        • Brianqpr on 06/09/2016 - 17:00

          Its because a lot of people love to hear we are the best in the world at something, even when its not true. So the news outlets and pollies play on this neediness.

          During the mining boom, we regularly heard about our "world leading economy" and people lapped it up like we really had it all worked out and were smarter than everybody else. Unprecedented temporary levels of demand were treated as if they would last forever. The likes of Peter Costello were held up as economic masters, when in fact all he did was squander the proceeds of a once in a generation (potentially much longer) boom on tax cuts and vote buying.

          So now we have a ridiculously overpriced housing market turning the population , particularly the younger part of it, into slaves to the big banks. Nobody will do anything about it because of the risk to their political career. Look how Labor has hammered for even suggesting limits, quite sensible limits, to negative gearing into property. Too many self interested parties making sure they are looked after.

          So we go on adding layers to this house of cards, with less and less room to move with interest rates, no more mining boom and little else in terms of what we can offer to the world. It will be very interesting to see how this all pans out.

        • [Deactivated] on 06/09/2016 - 18:25

          @Brianqpr: Summed up perfectly. Australia is of and for the rentier class and little else.

      • centrelink on 01/09/2016 - 18:36
        +4

        Canada… Problem solved

        • dealman on 02/09/2016 - 09:21
          +9

          Canada… Problem Freezed..

        • blergmonkeys on 03/09/2016 - 09:57
          +4

          As a Canadian, wholly disagreed. Came to Australia for med school 6 years ago. Raised in Canada for 21 years prior. Lives in Korea and India at different times in my life.

          Australia is by far the easiest country to live in. Opportunities galore; free health and education (HECS is basically free, most education requires private loans in Canada) with low entry requirements for professional schools (extremely hard in Canada in comparison) and near endless opportunities to train and have basic income whilst up skilling (center link for students is crazy, I worked 2 jobs during my undergrad and masters in Canada).

          Australia is a land of opportunity. Just need to be wise with investments. Living in cairns, life is amazing. Couldn't be happier and will probably stay here.

        • virhlpool on 03/09/2016 - 12:40
          +2

          @blergmonkeys:

          Opportunities galore

          When you say this, I feel either I am stupid or ignorant of reality. In terms of salaries and opportunities, only countries which I consider great are US, UK and fast developing economies (India, China, Brazil). I don't understand in which wildest of my dreams Australia is a place with opportunities galore. Look at people around you struggling for months to find a job or get a salary rise. AUD is already lower in value than USD.. to much make it worse, higher cost of living and higher property prices. Except nursing/ medical, and hospitality, which other industries here have opportunities galore? Keen to know.

          Also, remember HECS is a loan i.e. liability. It's not a great benefit in any sense. Many countries have tertiary education totally free (read Germany, Norway, France, etc.).

        • Gershom on 03/09/2016 - 14:43
          +3

          @virhlpool:

          I feel either I am stupid or ignorant of reality.

          No argument from me.

          countries which I consider great are US, UK and fast developing economies (India, China, Brazil).

          Then why are you wasting your time here? Why not go and live in one of those places?

        • virhlpool on 03/09/2016 - 14:49

          @Gershom:

          Then why are you wasting your time here? Why not go and live in one of those places?

          I knew it coming. Very common on this website. Want an honest answer? Visa issues.

          As per you, if I am in Africa, I must either say Africa is great or leave Africa. Yeh? No offenses to anyone. Just an example.

        • Gershom on 03/09/2016 - 14:52

          @virhlpool: Couldn't you just go back to ….. wherever you came from if you really dislike it that much?

        • virhlpool on 03/09/2016 - 14:52

          @Gershom: You still didn't get me. I like it more than where I came from but not as much as those places I mentioned in my comment from career and money perspective for the reasons that I mentioned. You sound quite satisfied with job market here though. Good for ya.

      • Cusack on 01/09/2016 - 20:13
        +20

        People get offended so easily.

        • rodinthink on 03/09/2016 - 14:56

          These people are the kinda like Tracy Grimshaw when she over-reacted to Ramsay's Lesbian pig joke. Triggered every god-damn time

    • SydneyBeachGuy on 02/09/2016 - 11:12
      +2

      Thanks for your input.
      I will stay a couple more years, get citizenship whilst serving my 2 years in Sydney with my new employer, then try out their Houston offering.

      • Gershom on 13/09/2016 - 08:26

        I will stay a couple more years, get citizenship

        Hypocrite.

    • nzthunderboy on 02/09/2016 - 19:34
      +1

      And don't forget to change your name from "sydneybeachguy" to "texasholdem"

      • jenkemjunkie on 03/09/2016 - 11:09
        +4

        or "walkertexasranger"

    • TRENT86 on 06/09/2016 - 16:24

      Yeah Australia has gone downhill the past decade, we now officially suck because our politicians are more interested in themselves than helping Australia as a whole. Don't even get me started on the Dud Malcolm Turnbull!!!!!

  • dragonfly090 on 31/08/2016 - 08:49
    +23

    With a PhD, kid still young and age on your side, move to Texas sounds a good option to me. But comes with lots of lifestyle changes which you should be prepared to take up.

    Money comes and goes, I would list things I enjoy in Texas v/s sydney and then decide.

    • hashtagbargain on 31/08/2016 - 09:43
      +3

      Excellent advice, I would think on the same lines. Plus the money he's quoted in Texas would afford him quite a comfortable lifestyle!

      • Colombian on 31/08/2016 - 10:20
        +3

        I think he was talking about different way of living, not about if you can afford or not, a comfortable lifestyle. Sydney and Houston are very different in regards of lifestyle no matter how much you can afford.

        • virhlpool on 03/09/2016 - 12:44

          Houston probably offers more luxuries in life, forget affordability as you said though it's one of the most important things for a lifestyle.

    • SydneyBeachGuy on 01/09/2016 - 18:45
      +6

      Thanks for the advice.

      I feel a lot of resentment on this forum.

      • dragonfly090 on 01/09/2016 - 19:08
        +6

        You ignore and move.

      • afoveht on 01/09/2016 - 19:23
        +10

        That happens when you challenge the secular religions of patriotism and nationalism. Good luck in your search.

        • BartholemewH on 02/09/2016 - 08:25
          +2

          To be fair, challenging it in Texas would get a similar response.

          Edit: I do agree though.

        • afoveht on 02/09/2016 - 09:37
          +2

          Yes, it's strange how both Texans and Australians (and so many others) can live in the best place on earth at the same time. I think that rather demonstrates a point.

      • Cusack on 01/09/2016 - 20:19
        +3

        Farout. I agree. People get too emotional these days.

  • tinoproductions on 31/08/2016 - 08:54
    +1

    Ha! I am in a similar situation mate.

    Always a tough one, as leaving a job you know and are happy with comes with its own set of uncertainties.

    Extra $$$ could help you get on the property ladder, as long as they are also true to their word and actually pay out those bonuses.

  • mskeggs on 31/08/2016 - 08:54
    +55

    "I am getting quite tired of Australia"
    You won't be happy here, and people like employers will see this attitude coming through, so you won't get the financial rewards you feel you deserve.
    I hope you find the lower taxes etc. elsewhere give you the happiness you are seeking.

    Be a little careful if you do go somewhere like Texas. Because you have no assets or savings, you will be very vulnerable to losing your job or a medical problem or similar.
    Realistically, with your income if you are not saving you are living substantially above your means. Take a look at threads on here that show people on half your income buying houses and saving. You will need to overcome this if you hope to be successful here or elsewhere.

    • mskeggs on 31/08/2016 - 14:00
      +21

      And just a couple of other observations:
      - Your super balance implies you haven't been working a full two years, or that you did get a substantial pay rise. Either way, being right at the start of your working career it might be sensible to get a bit more experience.
      - At your age you are a bit late to be starting a finance career. The really smart finance people will be on serious money by early 30's, like $1m+. Like it or not, it is a young persons industry. That isn't to say you can't improve your earnings, just be aware that you will likely have to prove yourself to get big income advances.
      - Your academic qualifications have landed you a job, but they won't count for much in terms of advancement unless you can couple them with clear personal results.
      - Texas has scope for some finance in the oil industry, which is likely to implode either now or very, very soon as all the money lent to shale drillers defaults. It is a time when they will be cutting employees, not hiring them.
      - Does your wife have an opinion? Does she have a career to return to when the kid is a bit older and she gets bored?
      - As a new arrival to Australia, is your home culture compatible with Texas and/or other options? For example, a Pakistani or a Mexican might find progress in Texas harder than a Canadian.

      • Deridas on 01/09/2016 - 10:54
        +3

        That's some good points you have there.

      • SydneyBeachGuy on 01/09/2016 - 18:57
        -7

        I am White British.

      • jenkemjunkie on 03/09/2016 - 11:16

        A Mexican will not find it hard in Texas. Texas is full of Mexicans, both Chicano and new immigrants. 38.2% of the population is Latino.

      • virhlpool on 03/09/2016 - 12:52

        As a new arrival to Australia, is your home culture compatible with Texas and/or other options? For example, a Pakistani or a Mexican might find progress in Texas harder than a Canadian.

        While most of your points are valid, I feel that we shouldn't look at 'Texas' as an alien territory. It's USA after all, as multi-cultural/ cosmopolitan as you can imagine. Houston or, for that matter, most of the state capitals of US are large cities and they have plenty of job opportunities unlike our state capitals. Why do you think Houston will have jobs only in oil finance industry? Like any large city in the States, it has heaps of banks, other financial institutions and several fortune 500 companies' offices if not their headquarters. OP can any time move to some other city. All I am trying to say is 'Houston' or 'Texas' isn't a deal-breaker for the decision to move to the States.

        • Gershom on 03/09/2016 - 15:02
          +2

          Houston or, for that matter, most of the state capitals of US are large cities

          Houston isn't the state capital, and many state capitals are not large. How about Albany New York, Carson City Nevada, Sacramento California. How about Juneau, Hartford, Dover, Baton Rouge, Annapolis? Have you even been to the USA?

        • virhlpool on 03/09/2016 - 15:12
          -1

          @Gershom: You counted 8 of 50 states. That answers your question.

        • Gershom on 03/09/2016 - 15:21
          +1

          @virhlpool: I stopped because I got bored. There's plenty more. Interesting that you didn't answer the question though. Have you been to those places you claim are "better" than Australia? Three of them are third world shitholes with their populations clamouring to come here. Can't say I've ever seen boat people trying to get into India, China or Brazil. You could try it though if you're that keen.

        • virhlpool on 03/09/2016 - 15:26

          @Gershom: Just compare the job opportunities and salaries in those shitholes with our heavens if you don't trust me. Yes, I have worked there. I know you will ask me why I am here, my answer is "visa issues" there if that satisfies your curiosity. Most boat people aren't qualified to get high end jobs, while these places are good for high-end jobs (mainly white collar jobs) and career progression (not for min. wages as I mentioned upfront).

        • Gershom on 03/09/2016 - 15:40
          +1

          @virhlpool:

          Most boat people aren't qualified to get high end jobs and career progression

          Funny that. It always seems to be a remarkable coincidence that those folks are the ones being "persecuted" and in need of saving as refugees, while doctors, lawyers, academics, engineers, etc don't feel the need to get on the boats. And there I was thinking it was mainly high profile people that get locked up for speaking out.

          compare the job opportunities and salaries in those shitholes with our heavens

          What? Given a choice between a better salary and heaven, I'd rather stay here thanks.

    • pais on 31/08/2016 - 19:31
      +18

      Realistically, with your income if you are not saving you are living substantially above your means

      $3200/m in rent and 15k in savings on a ~150k salary. Crazy. You're right that they'd never manage to save anywhere.

      • zealmax on 01/09/2016 - 23:46
        +1

        Rent is how much these days? $3200? That seems really high. I haven't been keeping up with the rental prices. 150K salary is about 8.5K per month after tax. After basic utilities, internet, phone, furniture, clothes, food, car, other transport, 2 dependents you are not left with much savings. Seems crazy that someone earning 150K salary can't save money, but that is how it is in Australia. You can try living it rough and save more money, but this is very hard with a baby.

        • itbargainhunter on 02/09/2016 - 10:37
          +3

          Have no or little saving with ~4400 disposable income after rent each month is the key to his financial issue.

          And OP said he works in finance sector?

          Wake up and find a way to create wealth in Australia. If you fail here what makes you think you will have a higher chance of success in Texas?

          Making more in US doesn't mean you can save more if you cannot control you spending.

        • pais on 02/09/2016 - 11:16
          +10

          You can try living it rough and save more money, but this is very hard with a baby.

          Two adults, one kid, 4400/m in post-rent income = "living it rough".

          Cheers for the laugh. I've heard it all.

        • zealmax on 02/09/2016 - 18:48
          +3

          @pais: Did you read my post? I said you can try to save money by living it rough, meaning he isn't at the moment.

    • ThadtheChad on 01/09/2016 - 19:44
      +2

      Take a look at threads on here that show people on half your income buying houses and saving. You will need to overcome this if you hope to be successful here or elsewhere.

      That's a bit harsh. I'm not sure that is entirely true. OP has mentioned that he has spent a tidy sum on education. Education is an investment (depending on industry/sector etc). Consequently, while OP may not have the dough saved up, with a bit of discipline, he can easily rebuild a substantial bank balance/investment portfolio.

      There is a lot of sound financial advice over here (at OzB); but sometimes it almost borders on frugality for frugality's sake.

      • airzone on 01/09/2016 - 20:30

        To an extent though. Going all out and doing a bachelors, masters, and then PhD straight off the bat puts you behind those who are getting OTJ experience.

        The guys that I know who have done really well have established careers before continuing with further university study.

        And to be honest, I have dealings with many PhD's in my area of work, and only one was well grounded and realistic in his expectations. All the rest have their heads in the clouds. Maybe it's tall poppy syndrome, but I do get sick of saying "no you can't spend $100k on <random stuff> without a business case".

    • suicine94 on 02/09/2016 - 08:46
      +1

      "Realistically, with your income if you are not saving you are living substantially above your means"

      Does his income matter? if you can't save then you living above mean

  • dasher86 on 31/08/2016 - 09:02
    +30

    I don't know much about Sydney but $3.2k a month for rent with an hr commute seems insane.

    You can always challenge the review and ask for further feedback.
    Outline your concerns and what you know.

    • CyberMurning on 31/08/2016 - 09:16
      +6

      OP want big house in nice suburb. apartment right in the city also cost about that, and probably near his office so has no transportation cost and time wasted attached.
      that way after his office work, OP can get second job in restaurants if he need more $.

    • cypher67 on 31/08/2016 - 09:18
      +10

      Agreed - I have an hour commute in Sydney and pay $1200 a month for a decent sized place. So I assume OP lives on the northern beaches and paying a massive premium.

      • dasher86 on 31/08/2016 - 09:19
        +8

        $2k a month saving right there.
        $24k a year.
        I'll be happy to take 10% of those savings for pointing this out.

      • djprima on 01/09/2016 - 20:50

        Just curious, where in sydney could you find a rent for family with kids, 1hr commute, for $1200 a month?

        • cypher67 on 01/09/2016 - 21:22

          Without being too specific, Penrith region. Depends how pedantic you want to be, its like 1.5 hours door to door as I walk to the station (15 minutes), but 55 minutes on the train. 3 Bedroom unit, 2 toilet, 1 bath, double garage and small/medium sized backyard.

        • djprima on 02/09/2016 - 00:43

          @cypher67: Thats really a great deal mate, congrats. Now I feel paying too much for rent :(

        • dtc on 03/09/2016 - 16:43
          +2

          @djprima: really? 3 hour commute, what a joke of a city

    • narbe on 31/08/2016 - 09:19
      +6

      I agree with the above.

      I am on half the OP salary.

      But my rent is $760 a week , roughly half of the OP.

      Brisbane location and I drive 8 mins to work.

      Houses are about 1/2 the price of Sydney if you willing to live 30-40min from CBD. 1/4 price for 1hr+

      Seriously before consider jetting off overseas into an unknown country , unknown culture. Try another state?

      Your probably just in burn-out mode, if you love your job and colleagues is a few $ extra really that important?

      I estimated I would need to be paid 40-50% more if i were to move into a new job purely for $$ , as most likely or not they will work you 2x as hard or use you like 2 people, at least in my industry anyhow.

      • tomleonhart on 31/08/2016 - 10:19
        +5

        OP's rent is 738 a week. Wouldn't call $760 a week is half of $738 :P

      • geek001 on 31/08/2016 - 10:23
        +2

        Wow.. $760 a week on rent in Brisbane? I have a 3 bedroom investment townhouse and I pay about $1200 a month mortgage.

      • narbe on 31/08/2016 - 10:43
        +3

        edit:

        $760 per month hahaha

        • FiDad on 31/08/2016 - 15:07
          +5

          But my rent is $760 per month , roughly half of the OP.

          OP rent -$3200 month

          I dunno man, seems you calculations are a tiny bit off

        • narbe on 31/08/2016 - 16:05

          @lokesh7:

          Ah wasn't concentrating.

          so its $760 per month pp. Got 2 pp in house its $1520 per month.

          So $1520 is roughly 1/2 of $3200. In fact even less.

          Anyhow my point stands. His paying alot for rent.

        • mattyman on 01/09/2016 - 11:23

          @narbe: Agreed. I'm in a 3x2 Villa in Carlisle, Perth. $400/week so $1600/month. About a 10 minute drive to the city. The area is a little dodgy, but it's not terrible.

      • pitiek on 02/09/2016 - 08:59

        8 mins drive to work?
        Why not get a bike or a micro scooter?

      • dealman on 02/09/2016 - 09:25
        +2

        And you've got awesome brissy weather,, Man melbourne sucks weatherwise..

      • ThadtheChad on 04/09/2016 - 13:02

        Sorry mate. Apples and oranges; Sydney and Brissy real estate prices (renting and ownership) are not comparable.

  • CyberMurning on 31/08/2016 - 09:14
    +25

    "On current salary I don't manage to save anything each month. "
    that's the problem.
    most other people can save and jealous of your current salary. its all about life preference.

    • captobvious on 31/08/2016 - 10:22
      +10

      send the wife back to work.

      • CyberMurning on 31/08/2016 - 11:32
        +3

        thats another idea. but cost by childcare is high and he probably is not entitled to centrelink baby support money.

        • Serapis on 01/09/2016 - 17:26

          Childcare cost is ridiculous here. She may as well stay at home because it would cancel out any benefits of her working.

        • CyberMurning on 01/09/2016 - 18:17

          @Serapis: depends on what kind of job, how much the salary, and how flexible is the workplace.
          if the wife also hold PHD, can work just few days a week and able to pickup ontime, maybe still worth.
          that is, all depends on how strong their willingness to earn more.
          instead of saving more from tax

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