What are the benefits of working in Australia?
Posted on July 28, 2020
People looking to relocate to another country for work will be keen to find out whether moving to another country would be worthwhile. Before making a decision, they’ll weigh factors such as quality of life or work satisfaction. Australia offers all this which has inspired people to search for a job here.
Recognition of your qualifications: Australian employers recognize education and work experience from abroad as they believe this brings fresh insight to the workplace. Here businesses accept numerous technical qualifications. If you have these credentials, the chances of applying for the SkillSelect system are greater.
Access to pension benefits: Across Australia, workers who work and stay here are entitled to other pension benefits. When you want to get these incentives you have to fulfill the requirements of age and residency. Those who work in Australia benefit from a retirement savings account called the Superannuation fund.
Employers must comply with the ‘Choice of Fund’ law, which allows workers to choose their preferred pension plan or auto enroll eligible employees into a complying Group Superannuation scheme.
The new statutory minimum is 9.5 percent, with a gross quarterly salary of $55,270.
The majority of employers base their contribution strategy on industry norms and data.
Holidays and paid time off
- Holiday Pay – Under the law, all full-time and part-time workers are entitled to 20 paid vacation days a year. Casual workers, who are usually paid by the hour or on flexible job contracts, are exempt from this rule. This is on top of the national holidays.
- Long Service Leave – A legislated 8.67 weeks of paid leave in addition to the annual leave payable after 10 years of service is fair and exclusive to Australia. This entitlement begins to accrue after five years, and several companies will have it listed on their balance sheet as a “liability.”
- Maternity/Paternity Pay – While there are no specific provisions for employers to have paid maternity leave, many businesses now do. However, there is a government-sponsored paternity leave program (for those who qualify), which can be paid by the employer.
- Sick Pay – Although there are no official formal sick pay benefits, most employers give between five and ten days a year on a voluntary basis. This may be inclusive or exclusive of standard bereavement leave (commonly up to five days).
- Group Insurance – Big, multi-national corporations in a variety of industries are increasingly providing personal insurance plans for their employees, which also provide Salary Continuance coverage as well as lump-sum Death and Disability insurance.
- Health insurance – This has historically been a lower priority, but as the government has raised taxes and decreased rebates for high-income earners over the past 5+ years, large corporations are increasingly providing fully paid or subsidized plans (although mostly in IT and professional sectors where salary levels are high and competition for talent)
- Childcare facilities – A growing number of big, professional firms are looking to provide childcare and/or daycare services.
Flexible working conditions – For families, this includes more time off, different working hours, and working from home options.
Offers a better quality of life: Australia provides a higher quality of life. The country offers an accessible health care program and a network of social assistance. Aside from that, even in the major cities, the population density is much smaller.
Australia has a multicultural culture that has people coming and moving here from various parts of the world. In fact, 43 percent of Australians have overseas parents or were born overseas.
The pollution-free air and the temperate climate and the natural ecosystems here make it an ideal place to settle down.
Opportunities for study: In case you want to improve your educational qualifications, the country offers more than 20,00 courses of study and has over 1,200 educational institutions.
Social security benefits
Many of the benefits provided by Centrelink (Department of Human Services branch) under Australia’s Social Security Act include
- Age pension — for individuals (65 years and older) who expect to retire or retire
- Payment and carer compensation — for people who care for those with a disability
- Disability support pension — for individuals who are unable to work for two years because of disability, accident or illness
- Sickness allowance — for workers with accident, disability or sickness (under two years of age) who do not have access to or using any of their leave
- New start allowance — for job-seekers
- Special benefit — for persons enduring financial distress and unable to maintain themselves;
- Income support— cash contribution to cover the cost of living (can include pension program, veteran contribution, rent assistance
- Pharmaceutical allowance — helps people receiving Centrelink benefits to offset the expense of prescription medicines
For a full-time worker in Australia, the average weekly wage is about 1,605 AUD (1,087 USD). The country’s national minimum wage is just under 19 Australian dollars (13 US dollars) per hour, or 720 Australian dollars (490 US dollars) per week.
The average annual wage in Australia is about 91,550 AUD, including benefits (62,000 USD).
Work hours and work flexibility: The number of work hours per week can be as low as 38.5 hours. The length of the work-week could be even shorter in some of the other firms. Apart from this, some employers offer flexible working hours.