How to settle happily in OZ

[neddy]

Ever noticed that Aussies are in general, happier than Singaporeans?




Money buys happiness, unless you earn more than $150,000
by: By Sarah Michael
From: news.com.au
October 31, 2012 12:24PM

Life satisfaction drops when you earn $125,000
People on $75,000 happier than those on $150,000

Good news: Australians are working less hours

What salary amount do you think would make you happy?
More than $60,000 More than $80,000 More than $100,000 More than $150,000

Vote now
IT seems money really does buy you happiness… but not if you earn more than $150,000.
Research from psychometric testing company Onetest found people who earn between $100,000 and $124,999 a year are the happiest, with 86 per cent of those earners saying they are satisfied with life.

But the satisfaction rate starts to drop for those who earn more than $125,000, and again for those who earn more than $150,000.

And it's actually better to earn between $75,000 and $99,999 than it is to earn more than $150,000, with 82 per cent of the lesser earners "satisfied" compared with just 80 per cent of those on the higher income.

Onetest head of psychology Cherie Curtis said this data showed salary and finances influence people’s satisfaction, but only up to a point.

“Once you have finances in order, you can provide for family, pay your bills and you’re earning in line with your peers, motivation through money starts to have a plateau effect,” Ms Curtis said.

“There could also be correlation between higher salary and seniority, and there could be a correlation between seniority and stress.”

The study surveyed almost 3000 Australians across a range of industries who had undergone cognitive ability testing as part of a graduate recruitment program between 2002 and 2011.

The research measured satisfaction levels by industry and found mining, oil and gas workers are happiest, followed by defence workers, insurance workers and those working with the environment.

The least satisfied workers are in the sales and marketing industry, followed by hospitality, sports and tourism workers and arts and humanities employees.

Scroll down to see a full breakdown of satisfaction by industry.

Ms Curtis said despite reports that the fly-in fly-out work of the mining and gas industry is demanding, the industries were well-resourced to look after their staff.

“[Organisations] have better employee benefit schemes and they invest a lot of time and energy in supporting their workforce,” she said.

Ms Curtis added that those surveyed had been in the industry for less than 10 years and may not have hit a “weary period” yet.

“They’re less likely to have the commitments of family and a mortgage, so fly-in fly-out suits them,” she said.

The study also suggested a correlation between high earning industries and high satisfaction, with mining, oil and gas workers on the highest average salary ($91,903) which is about 42 per cent more than the average worker’s salary of $64,697.

This was followed by the average salary in insurance on $79,688 and banking and finance on $76,923.

The hospitality, sport and tourism industry still had the lowest current salary at $42,695, followed by research and development at $45,455 and arts and humanities at $48,864.

The study also found that it pays to be smart, but not necessarily in an academic way.

There was a correlation between high cognitive ability - meaning the ability to retain information and problem solve - and high salaries.

People who registered "far above average" cognitive ability received starting salaries that were on average 18 per cent higher than their peers with “far below average” scores.

The relationship was found to be twice as powerful as a person's grade point average in predicting their first salary.

Ms Curtis said cognitive ability was a powerful predictor of job performance.

“Unfortunately a lot of people rely on the GPA to shortlist candidates but it’s fairly flawed because it’s not a standardised measure across the country,” she said.

“People with higher cognitive ability tend to solve those things more effectively and more quickly, and they respond better to training and learning.”

Industry by percentage of workers satisfied

Mining Oil and Gas – 87 per cent
Defence - 84 per cent
Insurance - 81 per cent
Environment - 81 per cent
Consulting - 79 per cent
Government - 77 per cent
Utilities - 77 per cent
Law - 75 per cent
Engineering - 75 per cent
Health - 75 per cent
Information Technology - 73 per cent
Construction - 71 per cent
Banking and Finance - 68 per cent
Business and Commerce - 68 per cent
Research and Development - 66 per cent
Fast Moving Consumer Goods - 63 per cent
Accounting - 63 per cent
Arts and Humanities - 60 per cent
Hospitality, Sports and Tourism - 55 per cent
Marketing and Sales - 54 per cent

Read more: http://www.news.com.au/business/work...#ixzz2ArTYmDPE

[xenomorph]

neddy, i think this study is bullshit. ozzies are opportunists.

[neddy]

If a person is earning >$150000 in taxable income, of course he will not be happy in a high-tax country, unless he knows that some of the money are coming back to him in services.
If the person only declares $75000 taxable and hide the rest, he will be happier.


It is just as important to have a positive mindset.

The Importance of a Positive Mindset
September 21, 2012, 12:00 am Jeremy Liddle Yahoo!7
You must be always proud of your achievements, regardless of how big or small they are.


tweet
Email
Print
Successful people have two characteristics: they believe in themselves and they are always maintaining a positive disposition in everything.

We hear a lot about these two things, yet somehow, they hide in the shadows when things do not go according to the plan, especially when emotions come into play.

Yet when you look at genuinely successful people, the two things are predominant. To maintain these two powerful characteristics you must be always proud of your achievements, regardless of how big or small they are.

Having this mindset is crucial to attaining success.

Once you master the art of positive thinking, you are setting yourself up for a battle against any obstacle that you encounter in achieving your goals.

This means making yourself distinctive among others---when you do fail on something, you will take it as stepping stone to achieve something better than what was originally planned, because the experience of failure will teach you something.

And that something would not have been learned if not for a mistake.

These experiences teach you to overcome such obstacles in a smarter way if you ever encounter them in the future. Having the wrong mindset on things will keep you stuck and just sorry for the failure.

Successful people are staunch in challenges. They see mistakes and failures as a venue for learning and discoveries.

By being proud of your achievements no matter how big or small they are, you are in fact maintaining a positive mindset. This way, you are allowing yourself to orchestrate your success.

Little achievements are in fact your reminders that you are continuously improving, even when things aren’t working out the way they should be. These small achievements keep you going and remind you that big achievements start from baby steps and constant learning.

There is absolutely nothing wrong with putting your face forward when it comes time to report success. The more often your name is on the lips of those that can help you grow, the better off you are. Just remember this; It’s not just you. It’s your team.

Avoid coming off as arrogant by mentioning key contributions made by specific team members. Those above you and below you will respect you for it and return the gesture.

Being proud of your achievements means being grateful for the things you have and for the things that you have gained. This appreciate of everything you have helps you stay positive.

[Ash007]

Thanks for the information. I earn less then my landlord with multiple properties. Yet, I keep seeing him complain about not enough money for this and that. This really proves the point.

[neddy]

Thanks for the information. I earn less then my landlord with multiple properties. Yet, I keep seeing him complain about not enough money for this and that. This really proves the point.

“The pessimist complains about the wind;
the optimist expects it to change;
the realist adjusts the sails.”

I was kindly reminded not to focus on the wrong thing, whether is it money or the wind.

There are riches that do not come in the form of money.

[koala88]

Thanks for the information. I earn less then my landlord with multiple properties. Yet, I keep seeing him complain about not enough money for this and that. This really proves the point.

Does your landlord understand the concept of negative gearing? Negative gearing will allow him to lower his income tax due to the interest he paid to the banks.

Ask your landlord to see a good accountant for advice.

[koala88]

How to settle happily in Oz? Must be able to DIY. Okay to clean own home. Cook own food. No more domestic helpers to do housework.

[neddy]

How to settle happily in Oz? Must be able to DIY. Okay to clean own home. Cook own food. No more domestic helpers to do housework.

When you buy fittings for the house, make sure they stock the spare parts.
Aussie products are usually good for DIY and idiot-proof.

Less stress. More happiness.

[contangee]

This is hardly surprising. One's happiness is usually related to the amount of money until a certain point. Once your basic money needs are taken care of, more money will not bring you more happiness, but it does not make sense that it will make you less happy. Most people would rather make more money and pay more taxes even if the government services do not increase.

[contangee]

Had to post this separately due to newbie status. Mod, I am not a spammer, please remove me from the newbie list. Thanks.

Since those making $150k or more are only 2% less happy than those making less than that, I don't think one can conclusively say that this group is less happy. This is probably due to randomness of the sample but I guess newspaper got to make it controversial to get attention.

[Ash007]

I'm sure he did that for his $million house and another he used to avoid tax by claiming he stays there but in actual fact is staying at his parents place.

Does your landlord understand the concept of negative gearing? Negative gearing will allow him to lower his income tax due to the interest he paid to the banks.

Ask your landlord to see a good accountant for advice.

[Ash007]

hang on, What happen to your other nick?

How to settle happily in Oz? Must be able to DIY. Okay to clean own home. Cook own food. No more domestic helpers to do housework.

[wrcboi]

insane escalating rent...low pay no career... apart from that...all is good...50% happy....good welfare, health system, relaxation, poor transporatation though (pending on states)

[Ash007]

You still renting?

insane escalating rent...low pay no career... apart from that...all is good...50% happy....good welfare, health system, relaxation, poor transporatation though (pending on states)

[koala88]

I'm sure he did that for his $million house and another he used to avoid tax by claiming he stays there but in actual fact is staying at his parents place.

Do you think you should spill on him to the ATO?

[koala88]

hang on, What happen to your other nick?

What do you mean?

[koala88]

This is hardly surprising. One's happiness is usually related to the amount of money until a certain point. Once your basic money needs are taken care of, more money will not bring you more happiness, but it does not make sense that it will make you less happy. Most people would rather make more money and pay more taxes even if the government services do not increase.

True, but there are some who are simply driven by greed where it will never be enough.

[koala88]

When you buy fittings for the house, make sure they stock the spare parts.
Aussie products are usually good for DIY and idiot-proof.

Less stress. More happiness.

Thanks for the tips. Yes to less stress and more happiness! Cheerz.

[Ash007]

Do you think you should spill on him to the ATO?

Was contemplating after I move.

What do you mean?

You not Axe?

[neddy]

Thanks for the tips. Yes to less stress and more happiness! Cheerz.

Personal experience of money flush down the toilet in Perth.

I invested in a posh toilet bowl from Europe that cost over $1000. But the flushing system failed, partly because of the hard water in Perth.
The parts are hard to find, from Switzerland.

Then a Sydney company replied to said they have the parts and will shop one over. Good.
Then the news - These guys are distributors for a cheap Middle East toilet brand and they are using the same Swiss-made flushing system.

Yes, a $250 RAK toilet suite and a a thousand$ one from the Italian owner who own this showroom http://www.seaofwhite.com.au/bathroom-gallery/ using the same parts.

Next time I use Aussie brand. http://www.caroma.com.au/. Spare parts everywhere.