I have a potential relocation possibility to Sydney - somewhere in the ballpark of 350k to 400k AUD.
We do plan to send our kid(or 2, who knows the future) to private schools if possible - is this achievable? I ran some tax calculators and it seems like my take home pay would take a huge hit.

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Btw, haven’t heard of such high comp at manager level in any of the firms I know of. Mind sharing the firm and/or industry + role ?!

likefunny

I’m curious what company it is as well

350k is a fairly good comp. Almost too good as I know c-suite at a bank and insurance were getting between ,300 - 400.

Doable but depends where you live..houses are crazy expensive so don't think you'll have a used like in usa. You'll do good there with that money but don't have expect a lifestyle like USA for that amount.

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And your welcome! :)

350k-400k is fantastic (64k is the median). For perspective senior engineers earn between 130-200k depending on industry and YOE.

At 350k, you'll lose just under half of it to tax, but that still leaves a chunk for the rest.

My advice: don't write off public schools - some of them are fantastic if you pick the right suburbs. All of my siblings and I went to top public schools because my parents managed to push for out of catchment admission for some of them, and because I went through the academically selective schools system. Consider those options.

Does your partner also earn? Honestly at that salary they probably don't have to. You'll get a loan approval within reason for a property.

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Thanks so much for your insight. Yeah exactly, only the people who are doing it/are chartered seem to advocate for it 😅

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Is that the total comp (incl. bonus + stock equity if applicable)? Or base ? If base, then you would very much be in the top 2% bracket in the country. You can easily afford to send kids to private school if you prefer but you wouldn’t have to go outside public system if you pick the right suburb.

smart

Daym. Nice! Hahaha

Most good private schools in Sydney cost around 30k a year give or take 5k

$350-400k is great comp for Australia, but it might be tight since Sydney is VHCOL.

The cost of housing here is what shocked (and continues to shock) me the most as I adjust my American expectations to what my money can afford in Australia. Examples of adjustments include a tiny yard, offstreet (not even garage) parking for 1 car, and a single bathroom. A 4-bed 2.5-bath house like I grew up in would be $6M+ here. My husband and I earn a combined salary similar to your offer, and it’ll be approximately half our take home pay on a variable rate mortgage if we want to buy a $2M+ townhouse in our not-too-far our neighborhood. We likely won’t be able to afford private school unless we want to move farther out to a cheaper neighborhood.

What you should be asking yourself is “would you feel financially comfortable sending your kids to private school in SF / NYC on a US$350-400k salary?” because that is what the cost of living is like here.

Also, remember to factor in flights home to the USA in your affordability calculations — it’s like ~A$3000 per person right now, and it doubles / triples around school breaks.

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