Job move after disappointing review

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        SydneyBeachGuy on 03/09/2016 - 12:29

        +1

        @Frugal Rock:
        For that exact reason my age and other details have a margin of error.

        Let's say may mean age is 32 with a SD of 2.
        All other variables (both quantitative and qualitative) have had the same treatment applied to them.
        I could be 34 and Irish, or 29 and German.
        Does that make you happier?
        There are plenty of people similar to me. I am by no means unique. It doesn't feel that way anyway.

        The employer is European.

      • 

        [Deactivated] on 03/09/2016 - 15:37

        @SydneyBeachGuy:
        "I am from the U.K. originally."

        vis a vis:

        "I could be 34 and Irish, or 29 and German."

        TBH I think you are overpaid given your limited grasp of continuity.

        PS Your usage of SD in that subjective context is spurious and misapplied.

      • 

        SydneyBeachGuy on 03/09/2016 - 16:18

        +1

        @Frugal Rock:

        When I say U.K., I probably mean Northern Europe don't you think?

        The use of SD is absolutely justified.
        There is a very small possibility that I am 50 and Nigerian, but most likely Anglo Saxon and Early 30's.
        If I choose to apply it to a continuous or discrete variable, it is up to me, and hopefully the recipient has a basic enough grasp of statistics to understand that.
        SD works just as well over a density as well as a mass.
        Let's not drag this into a Stats shit fight.

        It really winds people up that I have a good salary.

        If you are so smart, I am sure you can be CEO of CBA in no time.

      • 

        tinoproductions on 03/09/2016 - 16:25

        +2

        @Frugal Rock:
        You are wrong mate.
        OP is correct (Stats PhD here)

        It's easy to understand what he is saying. It's very likely he is English/German or there abouts, is in his early 30s.

        So many angry people on this forum.

        Best of luck to you OP.
        Wish you all the best in your new job.

      • 

        [Deactivated] on 03/09/2016 - 17:53

        -2

        @tinoproductions:
        'there abouts' - I'll back your understanding of statistics about as much as I respect your broken English . There is no standard deviation in ad hoc subjective obfuscation unless he does it a lot, or you have some sort of magical access to empirical data of ad hoc subjective obfuscators.

        Regarding being 'wound up' over the OP's salary, get over yourself. Try programming during either of the dotcom booms when 1k per day was common. I was outearning you in my twenties, and saving it, let alone factoring in inflation. I'll happily compare my 32 year old situation to yours. I had paid off my first property well before 32, while you are thinking about starting, and need your hand held to even do that.

        I'll save my envy for the Village Ten programmers who earned 4k per day for a project that never launched.

      • 

        tinoproductions on 03/09/2016 - 22:49

        @Frugal Rock:
        Cool story bro
        (Damn autocorrect)

  • 

    SydneyBeachGuy on 03/09/2016 - 09:40

    That wasn't the reason I came here.
    My post was about my current job and 2 jobs that came up.
    Leaving the known for the unknown.

    My savings situation is down to spending close to $200k on education, and not been paid a bonus for 2 years.

    This should all be rectified with my new employer.
    Generous enough to provide a sign on bonus, and as they are a huge corporate, won't reneg on their word when it's bonus time.

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  niner on 02/09/2016 - 22:34

  All my PHD friends and postdocs are running away from Australia.

  You made the right decision. Good luck. If I didn't find writing so tedious and I found an area of research that I was passionate about, I would do a PHD.

  • 

    SydneyBeachGuy on 03/09/2016 - 09:37

    +1

    I am not going to lie, PhD was really tough. It's a long hard slog, and at times, very isolating.
    You certainly get a sense of being over your head at the beginning.

    Once you have some results, the thesis writes itself, so that's not the hard part.
    The hard part is working on a problem for 3 months, then finding out your results are rubbish. And having to throw all of that away to start on a new problem. Can be quite soul destroying. Probably why the drop out rate is quite high.

    Have you considered an M.Phil as a stop gap, so you get a sense of the research world, without committing 3/4 years?

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  andyken on 03/09/2016 - 00:01

  good luck brah

  • 

    SydneyBeachGuy on 03/09/2016 - 09:37

    Thanks.

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  Lancerx on 03/09/2016 - 01:14

  +1

  OP, Your salary is so much higher than average household, yet you got so little savings and you're still renting g I'm struggling to understand

  • 

    mskeggs on 03/09/2016 - 01:30

    +1

    My guilty secret is I didn't get raised with a strong budgeting upbringing.
    In my house as a kid Dad looked after money, Mum got a handful of notes each week to do the shopping etc. but whether we were spending or saving wasn't up for general discussion.
    I remember a year or so after my Dad started his own business with my Grandfather as a partner there was a meeting where he 'shockingly' said he had not taken his usual wage from the business that week because times were tough. I remember my Grandmother immediately insisting they match that, and then the discussion getting too boring for an eight year old to follow about prices and profit. That was my first exposure to the idea that parents didn't automatically have money coming in every week.
    I sometimes wonder if a bunch of people earning high incomes with no savings know sometimes times go bad and you have to skip some pay runs. We've been s lucky in Australia with constant, reliable economic success, it will expose a lot of people when the next down turn comes around.

  • 

    SydneyBeachGuy on 03/09/2016 - 09:33

    +3

    I did mention, several times, that I spent a considerable sum, in the 100's of thousands, so get to my current level of education.

    Considering a PhD is near $40k a year, for 3 years, that is $120k alone.
    Add to that the cost of moving to a new country, living expenses etc, and I can't be faulted for my current status.

    Regardless, it has given me flexibility and a launch pad to be selective as to whom I work for.

    Once I have a couple hundred K, I will buy somewhere.
    Hopefully in the next couple of years, bonus permitting.

    I don't know anyone in my industry who saves from their salary. Especially not for a property purchase.
    Of course I have contingency money in case I need a flight home etc.

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  NickosFoivos on 03/09/2016 - 05:10

  It is very disappointing to see that there are people who earn $150k per year and complain not enough WHILE some others, most young Aussies struggle for the basic salary or to get a full time job that will prob pay the basic.
  I am disappointed by how unfair the system in Australia has been getting.

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  [Deactivated] on 03/09/2016 - 08:58

  -4

  The one thing no one has pointed out is that the OP is probably a crappy employee. He says he works for a 'hedge fund' - most are notorious about retaining their top talent, any way possible.

  6, 12, 24 month non-competes are standard at lots of places. Golden handcuffs and deferred bonuses are common too.

  I'm actually surprised he's managed to land another job. Getting a $0 bonus is the equivalent of being asked to leave (but not fired, since they'd have to pay severance). It's a massive Red flag to future employers.

  • 

    SydneyBeachGuy on 03/09/2016 - 09:29

    +1

    You seem to really have it in for me sir :-)

    Everyone in the team didn't get what they were expecting, so I don't think it's a fair evaluation of my personal performance.

    As I am changing industry, the non-compete is null and void.

    From a hedge fund which trades in Futures, to an insurance company which sells catastrophe derivatives, its a non issue.

    Clearly no one saw a problem with it.

    • 

      senator on 03/09/2016 - 09:46

      Can you please explain to me what a derivative is?

      • 

        SydneyBeachGuy on 03/09/2016 - 12:22

        +5

        Think of it as an insurance, with the pay off tied to the price of another asset.

        It can be used by two people, the hedger and the speculator.
        Let me give you 2 simple examples:

        You are a corn farmer, and need to sell at a certain price to make a profit when the corn is ready in 6 months. Say that price is $100.

        You could buy an option for $5, and if the market price on the day in 6 months is actually $85, you still have the right to sell corn at $100. If the price is above $100, you sell it on the open market, ignoring the option. This costs you $5 for the peace of mind. If the market price is actually $100, then you wasted $5.

        The speculator works like this.
        You have $100. You could buy 1 BHP share. Hold it 6 months, and if the price goes to $110. You make $10, a 10% return.
        You could instead buy an option for $5, which gives you the right to buy the option for $100 in 6 months time, which you then sell in the open market for $110. Making a $5 profit on your $5 (110-100-5 for the option price). A 100% return.

        You could have bought 20 options with your $100, making you a profit of $100. Very nice.

        If the price in 6 months was actually $90, you would have lost your entire capital.

        The skill is in pricing the option. Is $4 or $6 a fairer price?

    • 

      [Deactivated] on 03/09/2016 - 09:52

      -2

      Everyone in the team didn't get what they were expecting, so I don't think it's a fair evaluation of my personal performance.

      Just doesn't add up … either you/your team didn't perform, hence the crappy bonuses/rises or the company shafted everyone. Companies tend not to shaft everyone (its bad for business when everyone leaves).

      The only logical conclusion is that you/your team didn't perform. I guess time will tell whether your colleges were actually shafted or just showing a poker face about being unhappy with their bonuses.

    • 

      [Deactivated] on 03/09/2016 - 10:03

      -4

      As I am changing industry, the non-compete is null and void.

      That statement just makes me think this thread is a troll post. All insurance companies have investment management divisions, what do you think they do with all the premiums they collect?

      I can't see a hedge fund waiving a non-compete with an insurance company … just adds weight to my theory that you were a mediocre employee who was basically asked to leave from his current job.

      • 

        SydneyBeachGuy on 03/09/2016 - 11:22

        +1

        You have targeted me as persona non grata, so I will not waste any more time trying to defend my position.

        Believe what you will.
        You clearly are a bitter person with empathy and trust issues.

      • 

        niner on 03/09/2016 - 12:35

        +2

        Stop trying to poke holes in his story and actually offer some constructive input since you think you're so knowledgeable about how a hedge fund works.
        The guy was offered another job and you act like it's impossible for this to happen. If anything, it's pretty telling about your own situation. You clearly have it in for people that work in finance and insurance.

      • 

        SydneyBeachGuy on 03/09/2016 - 13:05

        +1

        @niner:
        Glad someone else is also finding it quite tiresome to continuously having to defend myself.
        Certainly bipolar and extremely resentful.

        It worked out in terms of finding a new job.
        Hopefully it will be something engaging that I can grow into.

        The other big unknown will be a new country in a few years, but will cross that bridge when I get there.

        Also, very curious as to what your HF experience is?
        Films and TV shows?

      • 

        [Deactivated] on 03/09/2016 - 19:42

        -3

        @niner:

        Stop trying to poke holes in his story and actually offer some constructive input since you think you're so knowledgeable about how a hedge fund works

        How's this for advice for the OP - take your current situation as a wake up call. Your fiscal situation (ie no savings) show you're an undisciplined person. This probably shows up in your poor work performance.

        Sure he's managed to land himself another job, but I'm guessing it's going to be the same story at the new place.

      • 

        od810 on 04/09/2016 - 11:53

        +2

        @SydneyBeachGuy: I think a lot of people didn't realise that you have not been to Australia for long time (looking at your super, i would assume you have only been here around 2 years). The dumb things about all these comments is that if they really use their brain, they would have noticed that at the household level, you are probably on the average Aussie situation (actually about the same level as 2x65k income household).

        So please ignore sp00ker if he aren't willing to use his brain for reasoning.

        Now that aside, congrats for the offer. If i was you, i would definitely go for it (purely because of the money). I'm single so it's quite easy to make the decision. But other than that, you will find every single country boring after a while. I lived in Europe for almost 3 years, it was very exciting in the beginning but then I can't wait the day to go back to Aussie (i'm migrant as well, though i've been here over 10 years). I like your plan to get the citizenship and give it ago. You can only find out if you try. Maybe you will appreciate Australia after few years in the US (only 12 days of annual leave :P), maybe not. The only thing you have to consider is your family. Talk to your wife about it.

      • 

        ThadtheChad on 04/09/2016 - 16:09

        +1

        @od810:

        The dumb things about all these comments is that if they really use their brain, they would have noticed that at the household level, you are probably on the average Aussie situation (actually about the same level as 2x65k income household).

        So much this.

        Now that aside, congrats for the offer. If i was you, i would definitely go for it (purely because of the money). I'm single so it's quite easy to make the decision. But other than that, you will find every single country boring after a while. I lived in Europe for almost 3 years, it was very exciting in the beginning but then I can't wait the day to go back to Aussie (i'm migrant as well, though i've been here over 10 years). I like your plan to get the citizenship and give it ago. You can only find out if you try. Maybe you will appreciate Australia after few years in the US (only 12 days of annual leave :P), maybe not. The only thing you have to consider is your family. Talk to your wife about it.

        +1
        Very well said.

        On a side note, I am at a loss to explain why the OP is getting so much flak from folks for not saving; especially when he's explained time and again that he's spent a substantial amount in "skilling up" (a form of investment!) . Priorities are different for different people.

        Not everyone wants to live in the middle of bvmfk with a 3 hour commute to work. People make trade-offs; some choose a higher quality of life in return for a lower saving %age.

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  marbss on 03/09/2016 - 09:51

  +3

  Thanks for posting. You are not alone and I share similar issues.

  As for 0% income tax. Just to clarify that means there is 0% state tax in Texas. You still have to pay federal tax. In the US there are state, federal and sometimes municipal income taxes levied. The tax saving issue is sometimes non issue depending on where you live. Eg Income tax in NYC is comparable to Australia or Canada.

  I think you made a good decision. It's pretty difficult to get by in Sydney on one income.

  For those of you thinking Australia is the best the country in the world - it isn't so get your head of your ass. It is one of the better ones out there, but every country offers trade offs. Australia has the highest drug addiction rate out of Westernized countries, not to mention drink driving is also a national past time here. It's public education system needs a load of work when compared to Canada or EU nations. Not to mention Internet is fourth world standard depending on where you live.

  Just do your homework on your health insurance policy when you get the States. Read up on HMOs and the pitfalls and incentives hospitals and doctors are faced with…. you will be fine.

  God speed young jedi.

  • 

    SydneyBeachGuy on 03/09/2016 - 11:58

    Thank you.

    Nice to see some empathy on this forum.

  • 

    shaybisc on 04/09/2016 - 17:57

    "Australia has the highest drug addiction rate out of Westernized countries, not to mention drink driving is also a national past time here."

    Are you a graduate of Trump University with a major in making stuff up or do you have references for those claims? I reckon Texas beats us in both areas but I'm only guessing.

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  rgr on 03/09/2016 - 12:07

  i wish i was you but minus the family and lived in berlin instead.

  • 

    SydneyBeachGuy on 03/09/2016 - 12:31

    Why don't you make the move?
    There is no harm in trying, and you might be surprised where that path might lead.
    Maybe a job in Frankfurt etc?!

    So you do or don't have family?

    • 

      rgr on 03/09/2016 - 14:29

      +2

      actually i'd like your income and be able to live in berlin.

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  Jetkuma on 03/09/2016 - 13:16

  +1

  Well, I think everyone is different. For your situation, if you think that job will put you in good financial situation then you should do it (that's everyone dream anyway -> to be in a better financial situation).

  If you get sick of it, well you can always move back to Australia :) It has that 2 years grace period to see if you like it.

  Anyway, I migrated from US to AU and i thought that I would have to restudy and do everything again. However, I can't believe it was pretty easy to get a job here when you adapted to the competitiveness in US.

  While you live in US, I think you will develop/learn new ideas and maybe bring it back to Australia one day (if you choose). Then you can be your own boss one day!

  • 

    SydneyBeachGuy on 03/09/2016 - 13:55

    I am sure it will be a learning experience culturally, and a great life experience regardless of the outcome.

    Did you mean the competitiveness for for jobs, or once you are working, all your colleagues are machiavellian?

    Being my own boss would be the dream. Mainly for the flexibility in being able to go and watch my kids' sports days, and generally be more involved with their lives.

    Which part of US did you come from?

    • 

      Jetkuma on 03/09/2016 - 21:34

      +2

      I grew up from US east coast and competitiveness is part of east coast's culture. I have to say, I actually thank the east coast for its culture. It makes you become a go getter.

      When I said competitiveness, it applies to everything (your colleagues and people). Everyone wants to do this whole…keeping up with the Jones and rat race….

      I haven't been to Texas before but I had friends from there. I have to say…..they are more lay back (similar to regional area in Sydney) than east coast people. You might feel right at home or better when you move to Texas! :)

      I would suggest you go on reddit and get to know more about the area that you will be living in. You will probably want to join some social group with your family/do some kind of volunteer since it will allow you to get to know fabulous people.

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  nikey2k27 on 03/09/2016 - 13:59

  +2

  You kind ask question in wrong place. You will enjoy the USA you live anywhere in world syd a hole there much nice place to live.

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  luffyex2010 on 03/09/2016 - 14:00

  Its interesting I have migrated here 10 years ago, did my degree late and had my first job that pays me 36k per annum but I was happy. Yes the income was not great but that help me to pay my rent and provide food for my family in a unit in epping. Later years I got better job with better pay about approx 70K ++ which I thought was great as I was able to save money. Now having my own business and when I look at it all back when I started back 10 years ago I think I did good. As I have my own business, own house, a lovely wife I met here and 2 beautiful kids.

  Its got nothing to do with its boring, no opportunity, prices here are not affordable. Its all you because you have options, can't see the opportunity and there are choices/consequences for everything you make.

  For me, I squeeze all that on what I can afford based on my affordability. E.g. no money why eat outside?, or why spend all the money on luxury of a expensive car when I can get a 2nd hand car?,

  And for some reason I get really annoyed when people from other country complaining how lousy, or bad Australia is when then are actually living in the country.

  Reading this makes me wonder with all the people earning 100-150 K here, they should be living a great life depending on the options they selected, but
  the ones complaining about boredom lifestyle, not enough earnings/savings (I am not a financial specialist but you do need to be a rocket scientist to learn new ways to save money), not enough opportunity in Australia is most likely you are avoiding the question " Why am I still doing the same thing I did last year when I know that it isn't working for me." Without change wherever you go or whatever you do will most likely be the same result.

  Sigh I think the word here is "Taken for granted" the people who had so many opportunity in their life but not able to see it. I guess only some migrants here do see it when they went through the hardship and improvement of life when they work so hard for it for the ones who can't see it most probably have shared a similar lifestyle or better in their previous home country.

  About the real estate, yes its getting higher but everything that goes too high it will come down its the nature of market equilibrium. (Any economist to second this or maybe rephrased it)

  Note: The person who told me this when I got here. Anything is possible in Australia you just have to work hard as there are opportunity everywhere and when that time comes ….you also need to know how to identify/see opportunity or you will just keep missing the boat.

  I strongly agrees as he came with nothing and now he is the top 10 richest person in Australia.

  Lesson in life
  Change is good but you got to start with the man in the mirror (salute MJ lolz)

  • 

    virhlpool on 03/09/2016 - 14:45

    +1

    That is true for any damn country. As you might know, the US is called land of opportunities, much more than any other country. There are so many jobs there that you don't have to struggle as much as you did here, plus higher growth, higher currency value, and much lower cost of living. Right? 'Identifying a right opportunity at the right time' and the whole saga around it are words of wisdom that are always true no matter where you live. However, the fact why people complain is because of low number of jobs, slower growth in income and high cost of living (including high property prices). I see your argument more as philosophy vs real-life practical issues. Not saying that Aus doesn't have any opportunities though.. it does, like any other country but with its own limitations particularly around wealth creation from scratch (without help of dad's property bought at least 15 yrs ago).

  • 

    Jetkuma on 03/09/2016 - 21:50

    I would have to agree with luffyex2010 here. I used to survive on an income for peanuts doing cleaning in a grocery store (survive with $200 per week income). Now I am doing entry level compliance with decent salary so I pack on more expenses.

    It is all about perspective. I think one thing that we human often do is the more we make, the more we spend.

    If we actually maintain a frugal lifestyle, I think Australia can provide you with a comfortable life. It just that we always get tempted by all these luxuries that we don't need.

• 

  rodinthink on 03/09/2016 - 15:05

  Work in financial sector, Ph.D, Master
  Current salary $150k + Super (so about $165k inc super)
  $15k savings
  Rent ($3200 month with 45min commute each way)

  Kek
  And the Least OZbargaining / Tight-Arsening skill goes to….

  Lol JK

  Perhaps try Melbourne, I find them much better than Sydney. Always try to avoid big-main city, try 2nd or 3rd most populated city.

  Anyway it's up to you. You can go to Houston / Japan / SIngapore for travel and broad your experience.

  • 

    SydneyBeachGuy on 03/09/2016 - 15:17

    Dude, I mentioned above I spent all my savings on education! Lol

    Only issue with 2nd/3rd tier cities is that my kind of technical work is not available.
    If my job was more "portable", such as a tradesman etc, then I would contemplate that.

    Melbourne does sound interesting, but now signed up for Sydney with new employer.

    Japan would be mega! Even just for the food and culture shock.

    • 

      rodinthink on 03/09/2016 - 23:32

      Dude, I mentioned above I spent all my savings on education! Lol

      I knew, just kiddin' ;)

      food and culture shock.

      something squishy and inappropriate? With extra xenophobic?

• 

  eediot on 03/09/2016 - 16:59

  +5

  Nothing wrong with your question, just the site with which you've decided to post it on. People here get excited over a one dollar saving. That's why you're not getting the response you expected.

  • 

    SydneyBeachGuy on 03/09/2016 - 17:02

    +4

    I think you have just won the Internet! Haha
    You are 100% right, it's the wrong audience.

    Thank you for putting it so succinctly.

    I like to save money too, but I also like to spend it on items what make my life more comfortable.

• 

  AussieMark on 03/09/2016 - 19:31

  +3

  Hello SydneyBeachGuy!,

  Firstly congratulations on the 2nd offer!

  That was a very nice surprise that it is in USD and not AUD haha.

  I am writing this from Hong Kong after moving back here last year (been in and out from Australia over the past 10 years).

  Experiencing a new country and culture is really difficult to put a value / price on. I believe I can go back to Australia any time in the future and I will always have friends and family there, it is a great place to retire and relax in my mind. I am 32 now and want to experience a little more around the world as it will be much harder to do this when I get older.

  Having the opportunity to live overseas is something not many Australians can get (especially not with the amazing financial package you got!)

  Wishing you and your family all the very best.

  PS. My brother actually met a girl on twitter from Texas (nothing to do with dating) and two years later they are married. He is now living there and it sounds like a great place. Texans are some of the most friendliest people I have ever met.

  I'm also debating my next move, London, staying in Hong Kong, Australia or somewhere new. Who knows, maybe I'll create a thread once I have some options :)

  Don't let a few bad responses put you down, I don't think some people fully grasp the feeling their words can have on others but I also do fear Australia has a bit of a tall poppy syndrome. My dad said he was always ashamed to mention he was a pilot in Australia as people would get angry at him and treat him badly once they knew because he was on a good salary (before he mentioned it they were totally fine).

  • 

    SydneyBeachGuy on 03/09/2016 - 20:40

    +2

    Dude. That is such a nice response.

    For most people that haven't had the chance to experience international travel, moving can be be so exciting and daunting at the same time.

    I really do consider myself fortunate that I have the possibility to experience a new culture, while someone else paid for the move.

    I am glad to hear Texans are friendly. It make such a big difference when you are welcome by the locals.

    What are you up to in HK. Never been. Seems like a bustling place.

    Thank you about the VPN. Didn't know that!

    • 

      virhlpool on 04/09/2016 - 02:10

      I am glad to hear Texans are friendly. It make such a big difference when you are welcome by the locals.

      It's definitely a positive sign, but why would anyone bother so much about state-level culture when the country itself is fairly homogeneous. It's like whether NSW or Victoria people are nice or slightly bad will impact your decision as to whether to move to Australia itself if you were moving here.

    • 

      AussieMark on 04/09/2016 - 11:06

      +2

      My pleasure. I am working in investment in Hong Kong at the moment. You pay 0% tax on investments like shares etc here

      Not that I have much money yet to invest hah.

      Main downside is the pollution but tax is capped at 15% and you keep all profit when doing investments is a nice incentive.

      I honestly was surprised. Texans are a completely different breed of Americans. Americans have a bad rep generally, but they were warm welcoming, well educated and very hospitable. They are also pro bush because apparently he was the governor and did a lot to help them back in the day.

      If you have any questions about locations or where to go private message me and I can ask my brother that is living there.

      I rarely post on here these days but always read hah

      I need an Asian OzBargain fix hah. Recently I bought the Lenovo laptop deal here tho then picked it up last month when I visited

    • 

      AussieMark on 04/09/2016 - 11:10

      Oh just to clarify I just went to a free proxy website then OzBargain.

      Didn't actually load up a VPN :)

  • 

    Jetkuma on 03/09/2016 - 21:52

    Apparently, AussieMark is on my Steam's friendlist….

    • 

      AussieMark on 04/09/2016 - 11:03

      Hahah that is funny. I use to test a few games in Australia. Mainly dungeon defenders 2, end of Nations etc

      My steam Id is the same so it could be me. My avatar is a girl soldier from the game firefall

• 

  AussieMark on 03/09/2016 - 19:33

  One annoying thing is you wont be able to send private messages from Texas once you go overseas. Ozbargain blocks private messaging from overseas people :( unless you are replying.

  You can bypass it with a vpn but it is a pain, especially when trying to msg people about a deal or a trade.

• 

  scratchback on 03/09/2016 - 21:44

  Your wife not working is the problem, which makes your family income not that much.
  Also u already missed the real eastate booming, which is much higher than your income. Sydney property is still much better investment than any US city in the future. If you move to US, you miss the chance again.
  Also when a$ stronger again like couple of years ago, the us offer is not that attractive.

• 

  fredcoy on 03/09/2016 - 23:57

  Ozbargain is really about saving money but these 'financial posts' are getting more and more boring.
  Life is more than money guys. Come visit Adelaide this weekend and you'll know what I'm talking about, there'll be more people in stadiums than on the streets!

  • 

    virhlpool on 04/09/2016 - 02:12

    Life is more than money guys.

    True that, mayte!

  • 

    Jetkuma on 04/09/2016 - 11:51

    But without money, then how can you have a life?

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  [Deactivated] on 04/09/2016 - 15:38

  -1

  OP earns too much and shouldn't really be on OzBargain.

  • 

    SydneyBeachGuy on 04/09/2016 - 18:57

    +3

    Right.
    So once you earn a certain amount you are not entitled to seek value.

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  asrey1975 on 04/09/2016 - 16:54

  I was gonna comment on the crazy rent, but then i remembered I probably pay the same between a rental in Melb & Syd and mortgage in SA which I all pay concurrently so, +1 to you for not having to worry about 3 places at once! :D

  As for advice; what about living in Ireland and Flyin/out to London for work? Or for that matter Spain / France > London ?

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  thetownfool on 04/09/2016 - 17:36

  +7

  Wow, late to this thread. The negativity on this site towards someone with a good income is disappointing. I do think a lot of the hate is from the 'tired of Australia' comment which you've removed, if you'd put tired of the Australian property market you might have got more sympathy.

  OP I'm in a similar boat to you. Slightly higher income, but with 3 young kids, not one, and a wife who looks after the kids currently (watch out saying she 'doesn't work', them's fighting words). She's going back to work part time soon to help with finances/saving. I pay a bit less rent, but still struggle to save enough for a home deposit. Probably because it hasn't been a huge priority until recently. We spend a bit on rare weekends away when we can get babysitters, and the same goes for eating dinners in restaurants to try to keep some semblance of romance, but honestly private health cover, electricity and gas bills, needing two cars etc all adds up. So just some sympathy from someone who has also spent a large amount of money on education/degrees early in my 20s and is only now catching up. It's funny - we also have little debt (one car loan which I'm quite far ahead on and will have paid off by the end of the year) - I've wondered if psychologically I have a mindset where once I've paid my debt, I increase spending rather than save.

  Good luck with your new job, hope it works out. It is tough moving around with a young family, but better to do it now before the kids start school. Look after your wife - if she's got one young child with a newborn be really careful of her mental state, particularly if you're working long hours. She'll be isolated, sleep deprived and without any support. Not trying to be negative, but from experience, try to address is before it starts being an issue.

  As for those hating on your income - people think that if they work hard they will get ahead, but study and smart career planning, which you've clearly done, I think is more important than pure hard work. You've worked hard to put yourself in a position to earn a good income, which is different from just working hard. I'd suggest rather than the envy fueled negativity, people should be asking how you got to where you are. Maybe when they earn the same amount, they can comment on their own expenditure.

  • 

    SydneyBeachGuy on 04/09/2016 - 18:56

    +2

    Thanks for the kind words and advice towards wife and kids.
    I do try my best to be as supportive as possible, as mums are the true heroes.

    I would love to have a live in nanny, but can't really afford a 3 bed. Not having family to help out is a massive drag. Even a romantic dinner ends up costing $100 in baby sitter alone, so it makes it a rare occasion.

    Glad you understand the predicament I am in.
    People will believe that it's yachts and jets once you earn 100k plus, but far from it.

    Maybe as others have pointed out, the nature of the site is to be frugal and find bargains, so someone earning "heaps" shouldn't even be admitted. If you look at a post a few comments up, it says exactly that!

    That's also another thing that baffles me. People want value etc, so why not increase the value of your time?
    Rather than save money, why not try to make more? That's surely a more winning proposition.

    I guess I touched a nerve when I mentioned Australia. But you are right, I was referring to the property market.

    Thanks for taking the time to understand my situation, and back me up in thinking there is a lot of negativity on here.

    • 

      od810 on 04/09/2016 - 21:39

      +1

      I don't understand the mindset of some people either. The moment someone mentions financial services and having high incomes, there seems to a massive hate train towards it. I don't understand the constant bash about your saving either, it looks like you just moved here and the 150K a year is not like something you had for the last 10 years (if you do, then you have a problem :P). 150k for a single income is like family with 2x65K incomes. And people never say a thing about the family with 2 average income not saving anything. It still baffles me. I hope you don't feel bad with all these negative comments. As for your job and the US, give it a try (but like you said, get your citizenship first). I didn't get my citizenship back then before i moved overseas for few years and now i have to go through the wait again, a bit annoying but it is fine because i know i'm settling here now.

      • 

        [Deactivated] on 04/09/2016 - 22:38

        I think 2 x 'not understanding' cards and a further bafflement card is overplaying and labouring bewildered passive aggression.

      • 

        ThadtheChad on 04/09/2016 - 23:15

        +1

        @Frugal Rock:

        …yet it would still be quite a measured (and a very reasonable) response, especially when compared to the rather adversarial responses posted by quite a few OzBers.

      • 

        [Deactivated] on 04/09/2016 - 23:35

        @gearhead:
        Nooo :) Depends on the person. Passive aggressive disappointment, condescending feigned indignation and rhetorical mock surprise are just as destructive to both the workplace or a forum. Passive Aggression broods and festers. The baffled post above, underneath the jooshe and razzle dazzle of befuddlement, simply disagrees with people, but adds puzzlement to convey "you're wrong and dumb" when "you're wrong" could have sufficed. It's so much easier to manage confrontationalists than the passive aggressives in the workplace.

• 

  bluesky on 05/09/2016 - 00:36

  +5

  The negative sentiments are most likely fuelled by some of OP's comments, as well as envy. The Psychology and Philosophy of Envy here seems to sum it up quite eloquently.

  OP's comments also probably added to the resentment by some. His original unintended comment ("tired of Australia") and his well-meaning counsel: "invest in bettering one's prospect". The assumption underlying this latter advice is that in a meritocratic society, anyone can achieve anything so long as the person is willing to work for it; success is a matter of choice and failure is one's own responsibility. But we all know that in our profoundly unequal society, this is often not true. And even what the OP advocated (sacrifice for betterment of one's prospects) may not be possible, due to opportunities and/or circumstances.

  But a few thoughts from article to take away:

  When we envy our neighbour for his shiny convertible car, we mostly ignore all the efforts and sacrifices that have gone into affording it …

  It is all too easy to forget that the investment banker or hedge fund manager has effectively sold his soul for his ‘success’ …

  Whenever we come across someone who is better or more successful than we are, we can react with indifference, joy, admiration, envy, or emulation …But by reacting with emulation, we can ask to be taught, and, through learning, improve our lot.

  As from me, OP, I wish you all the best for the path you choose. I have been through the "sold my soul" bit, it was no fun, and decided to reclaim it :-)

  • 

    [Deactivated] on 05/09/2016 - 01:06

    I think this falls more into the category of a case study in sucking eggs than envy. Many people find selfies obnoxious, whether the shameless selfie sticked narcissist is better or worse looking than the person dry retching with cringe. I mainly lament that an employer could be expected to pay a healthy salary to an employee incapable of wearing some man pants and deciding whether to scrunch or fold on his own.

    • 

      SydneyBeachGuy on 05/09/2016 - 07:31

      +1

      Sorry mate, we can't all be powerfully built directors like you.
      Some of us are delicate petals that need reassurance and guidance from time to time….and where to find the cheapest eneloops.

      • 

        [Deactivated] on 05/09/2016 - 08:06

        Well that depends, really, on whether you follow through on your country departing hissy fits or not, Veruca.

        PS Your attempt to sound 'teachnical' below could do with some guidance. ;)

      • 

        SydneyBeachGuy on 05/09/2016 - 12:24

        @Frugal Rock:
        Typos whilst on phone. It happens :-)
        I can't edit post after a few hours.

        Please guide me then.

      • 

        [Deactivated] on 05/09/2016 - 15:32

        @SydneyBeachGuy:
        A less ignominious scramble would be that you revive endangered Dunedin (NZ) phonetic spelling and were in method acting character.

      • 

        SydneyBeachGuy on 05/09/2016 - 15:34

        @Frugal Rock:

        Sounds good.

  • 

    SydneyBeachGuy on 05/09/2016 - 07:23

    +1

    Nice post.
    Sums it up well.

• 

  congo on 05/09/2016 - 00:42

  Property prices are a real concern. Especially if you want to buy a decent one next to a great school.
  Those that already have one or two properties (purchased pre 2010) are quite fortunate. Getting into the market now on an average salary is very difficult, worse if you are on a single income.
  Correct me if I am wrong.
  If moving to another country isn't an option, what other choices do we have?
  Especially if you want to live in a good area and have your kids go to good schools?
  I feel that opportunities are getting smaller by the day.

• 

  crowsnest bomber on 05/09/2016 - 02:32

  +1

  Now you've decided to leave, congrats btw, what hedge fund did u work for?

  • 

    SydneyBeachGuy on 05/09/2016 - 07:17

    Thanks! Exciting times ahead
    Don't want to give any names, but they are Sydney/London based, with over 1bn AUM.

    I prefer to leave a layer of anonymity you see.

• 

  s035051 on 05/09/2016 - 04:38

  +1

  Hi OP,

  No valuable advice from my end but would appreciate if you could let me know if a PhD is required for your role?

  • 

    SydneyBeachGuy on 05/09/2016 - 07:23

    +1

    Tricky one.
    Required, probably not.
    More like recommended.
    Any teachnical MSc should suffice, but I think the PhD makes it easier to get a foot in the interview door, as it signals you can stick to a problem for ages, are resourceful as can work on your own etc.

    Not saying those qualities are non present in non-PhDs, but i have found that I get a lot more offers via LinkedIn since getting my PhD.

    Anything to do with maths/engineering/CS/stats/finance is a suitable subject.

    As long as you are comfortable with stuff like this:
    http://www.columbia.edu/~mh2078/stochastic_calculus.pdf
    Then all is well.

    • 

      s035051 on 05/09/2016 - 08:45

      +1

      Thank you. An M.Sc is where I am at - are there any M.Sc's working similar roles at your place? Cheers

    • 

      narbe on 05/09/2016 - 10:31

      After reading through the posts I'm finding my original reply was quite inadequate as the salary jump far exceeded what you said in the first post.

      Congrats and well done and achieving as much as you have.

      One thing that confuses me is if you earn this much and are in the financial industry have you not thought of investing ?

      Your wife doesn't work so why don't you set up a family trust and offset some salary by paying your wife a wage?

      Your 1st home is an luxury while your 2nd would be an asset. If I were you I would be buying a cheap house and putting up with it till you have amassed enough wealth to not work. Although I don't advocate retiring at least the financial stability would be nice. Should be easily achieved with your income.

      You seem like an guy who can bear with the hard times as evident by your higher education. Doesn't it make sense to do the same for your finances until your in a good financial shape?

      Doesn't make sense for complaining about Sydney Property Houses when clearly its one of the most expensive cities in the world. There are alternatives and yes moving overseas is an option.

      Either way if an bubble eventuates I hope your adventure overseas helps you buy up some Sydney property in the not distant future if your decision is to come back.

      Anyway good luck !

      • 

        SydneyBeachGuy on 05/09/2016 - 12:26

        I have invested, about $200k, on education!
        Just finished paying everything off.

        Once I get some bonuses, I will invest in my own, and other properties, I am just not there yet.

        Bubble in couple years would be great.

• 

  [Deactivated] on 05/09/2016 - 09:28

  +7

  Some of the responses here are frankly ridiculous.

  We should be celebrating someone who has come to this country to make a better life for themselves and their family.

  Well educated, good income and looking to further themselves and their family are highly desirable traits.

• 

  brad1-8tsi on 05/09/2016 - 10:33

  +1

  Well done OP. reward for hard work and having a go.

  I'd be gone in a New York minute.

  Anyone that thinks Sydney is a great place to live obviously wasn't here 20-30 years back. The place has turned into a s**t-hole.

• 

  arbok on 05/09/2016 - 14:18

  $150k salary with 15k savings?

  I'm 35 on 30k the last three years (family business), and 80k before that, and have saved 300k in 13 years work. Plus married and two kids.

  What are you doing with your money!

  • 

    SydneyBeachGuy on 05/09/2016 - 15:37

    $200k on education + moving country.

    I never said I had an issue with my savings.
    Sign on bonus plus performance bonus (hopefully) should see me $200k+ gross in about 12 months.
    Cut it in half after tax etc, still not enough to buy anywhere.
    That was my real issue.

    Anyway.
    I chopped in the old job and got a new job.
    All is well with the world.

    • 

      arbok on 05/09/2016 - 16:39

      +2

      Btw I wasn't having a go at you.

      Good Luck with your new job.

      And know that I agree with you, companies always finds ways to not give a raise. You did the right thing looking elsewhere.

• 

  totalgadget on 05/09/2016 - 17:08

  +2

  Sydneybeachguy

  After reading your post, I feel you made right choice of selecting option 2. Can't rely on the company men bonus promise. Also the bonus they promise chances are slim to delivered fully as there will be lot of caveats.

  With AUD falling I feel you should see your offer is in USD or AUD as this might impact you while moving to texas. I don't see anything wrong with your lifestyle expenses and moreover your lifestyle is decent for the hard work you have done for study + work. I see spending on house rent is one's choice as each has their own personal taste.

  Its wise to move to Texas but I suggest if you can move earlier it is better. Not sure about rules in US about property buying but If possible its better to buy a house there in Texas now as Interest rates are low & economy started booming rather than in sydney which might get down in coming years.

  Wish you Good luck.

• 

  Sidhu1102161 on 05/09/2016 - 21:22

  -2

  Leave this country mate, you never get satisfaction mate

• 

  OZ Green Beans on 06/09/2016 - 17:25

  All the very best with your new job @SydneyBeachGuy. I was working in IB for about 8 years, 12 years total in the Finance/Banking industry. From my personal experience Australia has a solid structure, policies and regulations, but at the same time this allows little room for opportunities and any exciting products here. All of the stuff that I was involved in are mostly plain Vanilla products, no sexy arrangements like you'd find elsewhere but the good side is that it is stable and safe (less risk and less return).

  I have now pivot and left the Finance camp, still in Australia for now but focusing on the Tech sector for this time round and try to surf the wave while it's still here. Hope to hear your progress and keep us up to date with your journey mate. Good luck!

• 

  sal78 on 07/09/2016 - 07:40

  wow thats a dilemmai would love to be in! i think the finaancial situation is good. at least you have no debts. dont worry about property as its never too late to get on the ladder. make sure you find dome down time for yoyrself n work life balance. life will get much busier when no 2 is here.

  well done for being the bread winner and providing a good life for your family!

  i work too to ease the burden from my husband and we share chores and kids. need the balance!

• 

  icejester on 13/09/2016 - 00:34

  Brilliant work on the new job!
  Must've been a MASSIVE surprise when they said it was USD instead of AUD

  I think you picked the best option
  Good money and great opportunity for new experience for 2 years. Can't ask for more really. You'll be even more valuable after that experience

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