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Melbourne has always been ranked as one of the best cities in the world for a reason. Melbourne is known for its vibrancy, culture and diversity, which is full of amazing restaurants, bustling streets and alleys and places to enjoy.
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Graduate students and young professionals working in Melbourne can take advantage of unusual transport options, with trains, trams, buses and taxis. Melbourne’s tram network is the largest in Australia and has 250 kilometers of routes running throughout the city.
Another factor for young graduates considering a job in Melbourne may be real estate prices. Despite being more expensive, Melbourne is still good value for money compared to Sydney. Unit depreciation is expected to continue well with average prices down 2% next year.
Fortunately for recent graduates, Melbourne still has a good mix of graduate jobs on offer. As Australia’s second largest city, Melbourne has a diverse economy and a competitive labor market, with opportunities ranging from research and education to finance and manufacturing.
Melbourne is the second largest employer in Australia, after Sydney. According to the ABS, there are approximately 165,000 businesses with one or more employees operating in Melbourne; About 20% of all Australian businesses.
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Melbourne is home to one in five jobs and 19% of Australia’s income. Of all undergraduate students in Australia, 23% complete work in Victoria. As a major financial centre, some of the country’s largest and most prominent companies are based in Melbourne, with ANZ, NAB, Telstra and Glencoreall calling Melbourne their home. NAB & ANZ both recruit large numbers of graduates for various roles each year. CSL, one of the world’s top five companies, and Sigma Pharmaceuticals (Australia’s largest pharmaceutical company) are based in Melbourne and compete for the country’s top pharmaceutical graduates.
Melbourne’s largest employer industry is healthcare, employing approximately 304,000 people or more than 12% of the city’s total market share. Sales, technical, manufacturing, and education and training occupations account for the top 5 sectors with each sector providing more than 8.5% of all jobs. Not surprisingly, ABS data shows that there are very few opportunities in mining, agriculture, and utilities in Melbourne, each accounting for less than 1% of total employment respectively. The industry with the fewest employees is mining, with 6,100 employees. To explain this, the mining sector is expected to employ more than 6,000 people in Melbourne, so if you want to find the last job in the mining industry, you should look at other cities near the warehouse. .
In Victoria, 66% of all graduates were in full-time employment within 4 months of graduation; 22% work part-time or part-time, and 12% are unemployed. According to the Graduate Results Survey, 72% of bachelor’s graduates, 86% of master’s graduates, and 80% of master’s graduates are working full-time within 4 months of graduation.
Melbourne’s average growth over the next five years across all industries is expected to slow to 10%, compared to Australia’s growth of 8.3%. This makes Melbourne second in terms of growth, after Sydney. Overall, Melbourne is a solid place for graduates who are concerned about long-term career prospects.
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Graduates looking for jobs in Melbourne in health, professional and technical services, rental, leasing, and real estate, hospitality, and education and training can expect more opportunities to open in the next five years, each with a growth rate of over 13.5%. Healthcare leads the pack with a higher growth rate of 17%. Mining, manufacturing, and retail trade are at low levels, predicting negative growth.
The unemployment rate in Melbourne is around 6% compared to the Australian rate of 5.6%. Youth unemployment (ages 15-24) in Melbourne is at 14%, compared to the Australian average of 13%.
The graduate unemployment rate in Victoria is about 12%, which is the highest unemployment rate in Australia. In conclusion, Melbourne is not the best place to go in terms of total graduate unemployment, but it is ahead of Tasmania, Western Australia, and the Northern Territory.
According to the ABS employee survey, the most common occupations (including full-time and part-time) in Melbourne as a professional, followed by pastoral and administrative, administrative, and Technical and commercial workers, each accounting for 13% or more of the work. . Mechanics and drivers are underemployed (less than 6% of the approximately 134,000 people working in the profession), but this is not a concern as it is not a common job for university graduates.
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Most important for recent university graduates is the career path that falls into the ‘vocational’ category. Fortunately for graduates considering Melbourne for their first job, Melbourne has the second highest percentage of full-time employees employed in the so-called professional occupations, after Sydney.
After university, there are various positions open to graduates in Melbourne. Some of the commonly reported top positions in Melbourne graduate studies include:
According to the ABS, the average income of workers in Melbourne is $47,335 per year, which is 0.7% higher than the national average of $46,999. But the average income of workers in Melbourne is $57,571 per year (that is 21.6% higher than the median). , showing a significant decline in high-income earners and wealth inequality.
The average starting salary in Victoria is $52,000 per year compared to the Australian average of $54,000 per year. It is the only sector/region below the national average. If a higher salary is your main motivation as a graduate, it may be worth looking into middle-class areas such as the Northern Territory, Australian Capital Territory, and Western Australia (where middle-class graduates start salaries are $59,500, $58,000, and $57,000. respectively).
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According to the answers of graduates, students in engineering and mathematics in Melbourne received the highest salary of more than $ 67,000 per year. This is followed by the humanities and arts, law, and science. The lowest paying category in Melbourne is land and construction, at more than $55,000 a year.
According to graduate survey responses, 87% of recent graduates in Melbourne work between 30 and 50 hours per week, with a split between those working 30-40 hours per week (45%) and those working between 40-50 hours per week. . (42%).
According to the Graduate Student Satisfaction Survey, Melbourne graduates report working an average of 42.5 hours per week which is in line with the national average. In comparison, the capital city with the longest working hours is Sydney, with an average of 45 hours per week, and the capital city with the lowest working hours is Hobart, with an average of 37 hours per week.
Based on survey responses from recent graduates in Melbourne, job satisfaction is 8.4/10. This is the lowest of all major cities. Perth and Canberra also ranked in the bottom half of major cities with job satisfaction ratings at a national average of 8.5/10. Darwin and Brisbane had the highest levels of job satisfaction, with 8.9 and 8.7 respectively.
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In a recent graduate student survey, respondents were asked to rate the diversity of their workplace. The results of the survey showed that Melbourne’s diversity rate was 8.3/10, ahead of Brisbane with the highest number of cities at 8.1/10. Canberra, Sydney, Perth and Darwin have different scores above the average of 8.5/10, with Darwin having the highest score of 8.8/10.
Women make up 40% of the workforce in Melbourne. The industries with the highest participation rates for women are health care, education, retail trade, and leasing/recruiting which each have a participation rate of over 50%. The industry with the lowest proportion of women in Melbourne is construction, at around 10%.
The average starting salary for male and female undergraduates in Victoria is the same, at $52,000 per year. In comparison, the state with the largest gap in tuition fees is New South Wales
