The 457 visa is a sponsored skilled visa issued for up to 4 years, which the Government has decided requires the visa holder to be employed at a minimum salary level in order to become, and remain, eligible. This is referred to as the Temporary Skilled Migration Income Threshold (TSMIT) and is subject to change from time to time.
Today, if you are thinking of coming to Australia as a sponsored migrant under the 457 visa program, you must earn a minimum of $53,900 per annum to be eligible. This amount was last set on 1 July 2013 and is expected to increase again in 2017.
While this is the minimum threshold of pay, if there is an Australian working at the same firm in the same role, then you cannot be paid less than they are. This requirement applies for all salary levels up to $250,000 per annum.
In addition, there are a range of other criteria that will apply to you, including the requirement to hold a minimum level of health insurance and English language proficiency.
After you have been working and living in Australia for two years, you are generally eligible to apply for a permanent visa to remain in Australia.