AU
Best jobs still in Sydney?
16 April 2008
Melbourne might be Australia’s top city for sports and the arts, but arch rival Sydney has a clear lead when it comes to providing jobs for bankers. If you want to make a real impact in the finance industry, there is still only one city to work in.
While finance firms (including Suncorp, National Australia Bank, ANZ, Axa Asia Pacific and Bendigo Bank) are setting up in Melbourne’s new Docklands precinct, a more seismic shift is needed to dislodge Sydney from its throne as the country’s largest finance centre.
Sydney is home to both the Reserve Bank of Australia and the Australian Stock Exchange, as well as the majority of leading international banks. It’s also a major player in the Asia-Pacific region.
Will Melbourne ever challenge Sydney’s financial clout, or is it doomed to permanent provincial obscurity in the eyes of the big banks? And would you consider leaving your Sydney job to become a Melbournite?
Cost of living is lower in Melbourne. Although you tend to earn slightly higher salaries in Sydney, Melbourne rent or purchase price is likely to be much lower so you end up with more disposable income. Melbourne has the best cafés and restaurants in Australia so finding a good venue for that important client meeting is easy. The Melbourne banking market is very well networked so you hear about opportunities quite regularly. Melbourne is also the sporting capital of the Australia. We’ve got Melbourne Cup, Grand Prix, Australian Open, Boxing Day Test and International Comedy Festival so when it comes to work/life balance there’s more to do. And to cap it all off, Melbourne has had a far superior summer than Sydney so even the weather argument doesn’t hold up any longer.
Alan 22 Apr 2008
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