In Mondays post I asked Britain’s Brain Drain: Where Are They Going? Well, quite a few of them are coming here to Australia and one of the main reasons in general for moving abroad was quoted as “to earn more money“.
The very same day I wrote that post there was a headline in the online version of UK newspaper The Mirror saying “Salaries soar by 8% in the last 12 months and there are almost a million job vacancies“. So it would seem that the job market is on the up and up back in the UK right now.
Time for another salary comparison then and again, I apologise to my non-UK readers. I know this isn’t overly relevant to you, but hopefully you can use the information here to compare what you might earn in Australia to what you are earning where you currently live.
Australian and UK salaries compared
I’ve been through this exercise twice so far on this website:
- Cost of Living in Australia: Salaries Compared 2009
- Australian and UK Salaries Compared: Part Two 2012
My findings in both of those posts were very conclusive; Australian salaries were much higher than those in the UK.
What about job opportunities?
It gets even better for the Brits, the article suggested, as did the title, that there are currently almost 1 million job vacancies in the country. That’s up a massive 26% on last year and it is apparently a post recession high. I decided to check those figures with the Office for National Statistics and do the same here for Australian vacancies through the Australian Bureau of Statistics.
According to our governments:
- The UK – There were 700,000 job vacancies for October to December 2014: Source ons.gov.uk
- Australia – Total job vacancies in November 2014 were 149,900: Source abs.gov.au
Even adjusting for the fact that the population of the UK is around three times higher than here in Australia, it’s clear to see that there are far more job vacancies per capita in Britain than there are here at the moment down under.
So with wages booming in Britain right now and soaring job vacancies, have they closed the gap on Australia?
Salaries compared 2015
I will be following the same format as before, selecting 10 popular occupations and checking the respective salaries in both Australia and the UK. This time though I will be getting my average salaries from Adzuna using their .co.uk and .com.au websites. It’s easy to do, here’s an example with qualified accountant.
If I search their website for ‘qualified accountant’ making sure I specify the whole country, the average salaries magically appear in the top right hand side. Like this:
Let’s crunch some numbers…
1.94 x £350,713 = $680,383
But Australians doing the same 10 jobs here would have earned $859,330 or $178,947 more. If we take that as a percentage of the UK earnings, so $178,947 divided by $680,383 then multiply by 100, we get:
Yes, Australians earn 26.3% more than those in the UK for equivalent jobs.
In my 2009 comparison that figure was 31.7% more for Australians, and in 2012 the pound was so weak against the Australian dollar, the exchange rate was close to $1.50 AUD per GBP at that time, that it appeared Australians earned something like 70% more, but that was really just a reflection of the weaker pound.
Regular readers will know that I’m not a believer in doing price comparisons that take into account the exchange rate; I’m a fan of the hard yakka. In my view those of you who can earn twice as many Australian dollars here as you are earning pounds in the UK will be able to easily maintain your current standard of living.
For more on that, see my page…
As you can see from the above salary comparisons, every Australian job pays at least double in dollars as the UK one pays in pounds, for one or two it is very close, but some easily exceed that.
I think the above figures clearly show that is spite of the surge in salaries in the UK at the moment, wages over there still have a way to go before they catch up with the pay packets here in Australia.
But what about the numbers of job opportunities? Is it easier to find work here than it is in the UK? We know what each of our governments are saying about current job opportunities, but what’s it really like?
I’ll be taking a look at that next week.