Graduate outlookThe prospects of graduate employment for non-Australian graduates are linked to the detailed visa requirements. It may, however, be possible for a UK/EU graduate working for an international company to work at the Australian ‘branch’ for a period of time. Professionals who are currently being sought include doctors, teachers, accountants, plumbers, nurses, carpenters, dentists and IT managers. The Australian Government: Department of Immigration and Citizenship website has the latest information about visas and migration applications. For those individuals who have secured permanent residency in the country, graduate employment prospects are good, but competitive for the top-end jobs. See the Graduate Careers AustraliaAustralian Graduate Survey for more information on graduate destinations. The top industries for graduate recruitment continue to be in accountancy and management, with the highest starting salaries being found in investment banking and mining. In addition to academic achievements, employers in Australia are interested in graduates with key skills such as: - time management and organisation;
- oral and written communication;
- initiative and enterprise;
- the ability to cope under pressure and maintain a balanced lifestyle.
back to top The economyAustralia has a successful, western-style, capitalist economy that is competitive and robust. The economy competes on a global level, benefiting from its emphasis on structural reforms, low inflation and its close proximity to Asia. Mining and agriculture account for the majority of Australia’s exports with its major industries being minerals, oil, coal, gold, wool, cereals and meat. In recent years, Australia has seen sustained growth in the service sector, particularly tourism which accounts for 5.7% of total employment (Australian Government, Department of Foreign Affairs and Trade - A competitive economy). See The World Factbook for more information on the Australian economy. back to top CompaniesMajor companies in Australia include: - Australia and New Zealand Banking;
- BHP Billiton;
- Coles Myers;
- Commonwealth Bank of Australia;
- National Australia Bank;
- Rio Tinto;
- Telstra;
- Westfield Group;
- Westpac Banking;
- Woolworths.
Global companies operating in the UK and internationally include: - Accenture;
- Ernst and Young;
- IBM;
- KPMG;
- Mars (known as Masterfoods Australia and New Zealand);
- PricewaterhouseCoopers;
- Schlumberger;
- Unilever.
For more Australian companies, visit Wikipedia - List of Australian Companies. back to top UnemploymentIn June 2006, the unemployment rate in Australia was 4.9%, compared with 5.1% in June 2005 and 7% in October 2001 (Australian Bureau of Statistics). Due to this low rate, there is currently a significant shortage of skilled workers. The Australian government is keen to fill this gap by specifically targeting individuals who have outstanding skills and attributes. This is encouraging for people wanting to work in Australia and who feel that their skills will contribute to the economy. back to top Working practices and customsWorking conditionsAccording to the Migration Expert website, Australian working conditions are often described as some of the best in the world. The average working week is 37 hours per week, generally Monday to Friday (depending on the occupation and your employer). As in the UK, hours worked above the standard working week are paid at overtime rates. All permanent employers in Australia are entitled to four weeks paid annual leave per year and ten days paid personal leave (including sick leave and carer’s leave). SalariesResearch indicates that the annual starting salary for graduate jobs in Australia is $40,800 (£16,632) (Graduate Careers Australia, Australian Graduate Survey - GradFiles, December 2006). For specific salary information, visit Gradsonline and search by subject or occupation. The cost of living is generally inexpensive, especially if you are travelling with the English Pound or the Euro. The cost of living may vary depending on whether you live in a major city or on the outskirts. Tax issuesAs a permanent Australian resident, you will be expected to make standard tax contributions. However, if you are a non-resident, you will pay a considerably higher amount. There is no tax-free threshold and so every dollar you earn is taxed. For more details on tax issues, visit the Australian Taxation Office website. back to top Language requirementsThe main language spoken in Australia is English and you may find it difficult to secure skilled work unless you speak the language fluently.
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Australia: Job market
