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March 29th, 2016


New job? Here are five things to consider before you start

Young people are changing jobs more than ever. In fact, the average person now changes jobs seven times during their life.

The change is a reflection of how we now perceive our working life – instead of a ‘job’, it’s a ‘career’, with a trajectory and many different phases.

While starting a new job is an exciting time, there are a number of considerations that come with stepping into a shiny new role.

Make sure you tick off each of the below to make the most of your move.


A new job often comes with a new salary – and that doesn’t always mean an increase. If you’ve become used to a certain lifestyle, it may be a challenge to come down from it.

Equally, if you find yourself taking home a bigger pay cheque, you should think about increasing the amount you save each month.  Consider the percentage of your salary you’ve been saving, and adjust it accordingly.

Hopefully, you’ll find there’s still room for that holiday you’ve been eyeing off.

Think about your super

Most of the time, when you change jobs you’ll be able to take your super with you.

This will mean communicating with your employer the fund you’d like to bring over, or whether you’d like to change.

Changing jobs is also a good time to think about consolidating your super if you have multiple accounts hanging around from previous jobs.

Consider salary sacrificing

Especially if you’re now earning more, it might be time to think about entering into a salary sacrificing agreement with your employer.

This means surrendering an amount of your salary to go towards items such as cars, property or superannuation.

As a result, the salary you have sacrificed will bring down the income you are taxed for, lowering your tax rate. Remember, there are limits to how much salary you can sacrifice towards your super. Check them here.

Protect your income

A fresh start is a good time to update your income protection if you already have it, or seriously consider it if you don’t.

Income protection insurance protects you in case illness or injury stops you from working. It’s also known as ‘salary continuance’, and can be invaluable help during a crisis.

Insurance will normally cover around 75 per cent of your usual income for up to two years, and you will need to update your policy when your income changes.

Consider your wardrobe

Perhaps less-pressing but nonetheless relevant, your wardrobe is another thing to consider when starting a new job.

Make sure to ask your new employee what your new dress code is, whether you’ll need a uniform and who will pay for it.


First Super commissioned The New Daily to research and write this article. The views expressed are of The New Daily.

This publication was issued by First Super Pty Ltd (ABN 42 053 498 472, AFSL 223988), as Trustee of the First Super superannuation fund (ABN 56 286 625 181). It does not consider your personal circumstances and may not be relied on as financial advice. Content was accurate at the date of issue, but may subsequently change.