Whether you’re working the drive through, waiting tables or navigating the stockroom, starting work is exciting. Your first job is not just about earning money, it's teaches you invaluable skills, responsibility, time management and financial independence whilst allowing you to meet new people and gain experience that will help your future.
AustralianSuper’s guide will help you land that job which will see you proudly earn your first pay and set you on the right path to future success.
Quick tips for applying to your first job
Bank Account
Make sure you have an Australian bank account open and ready to go, that way you have somewhere for your employer to pay you.
Resume
Create a resumé that includes all your personal details and any achievements from school, volunteer work or other qualifications.
Tax File Number
You’ll need to apply for a Tax File Number with the Australian Taxation Office online and finish off your application in person at Australia Post.
There are few words that may sound's odd such as super or superannuation, whilst you may have heard about it, super is an important thing to know before and once you land your new job.
Super in a nutshell is an automatic saving scheme designed to help you prepare for the future. It’s simple to manage and a great way to help you build wealth.
Your super savings will likely grow to be one of your biggest investments. But it’s not just a regular bank account you can dip into any time.
Here’s what to know about getting your super off to a great start:
Things to know about super
-
What is superannuation?
In Australia, the government uses a compulsory system called superannuation to help you save for retirement.
For most employees that qualify for super, the moment you start at a job, 11% of your before-tax income is paid by your employer into your super fund, instead of into your bank account.
You can also choose to make additional personal contributions from your savings into your super at any time.
-
What is a super fund?
Your super savings are managed for you by an organisation known as a superannuation (super) fund.
AustralianSuper is an industry super fund, and it works within the strict laws and regulations set up by the Australian Government to help keep your superannuation secure.
As an industry super fund, we don’t pay dividends or profits to shareholders so the money we make goes back into the fund for the benefit of members. That helps to keep fees and costs low, too.
-
Who can get super?
Just starting a job won’t always mean you get super.
If you’re under 18 you’ll need to be working more than 30 hours a week. It’s the same if your work is in a private home, like doing house cleaning or babysitting work, regardless of age.
If you’re 18 or older, in most cases your employer will need to start paying you super. It doesn’t matter if you do full time, part time or casual work. This also includes temporary residents of Australia.
-
How super works
Your employer must pay super directly into your super account, which is managed by a super fund.
It's a bit like having a savings account that will look after your money until you reach retirement.
Unlike a savings account, your super fund also invests your money into different assets, such as shares, to help grow your balance over time.
-
Can I take my AustralianSuper account from job to job?
Your AustralianSuper account is portable, and can move with you whenever you change jobs. All you need to do is give your employer your account details. You can also send your employer your account details via the AustralianSuper mobile app.
There are benefits to having just one super fund. Not only does it mean less admin for you, it also means you are only paying one set of fees, which could make a big difference to how much money you retire with.