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Top 10 highest paying jobs in Australia

2020-04-07 11:31:27
Top 10 highest paying jobs in Australia
Australia is a wealthy country by global standards, but incomes can vary wildly in different states and across different professions. You may be wondering what jobs rank as the highest paying in Australia, what degrees they require and what pathways are available to those degrees. Here they are

After finishing your studies at a university, naturally, you would be on your way to pursuing a fulfilling career. While money should not be the main motivator, it doesn’t hurt to know what salary you earn and what jobs are in-demand.

 

Below are the top 10 highest paying jobs in Australia



Medical professionals

The three highest-paying jobs in Australia are all in the medical field. Medical professionals feature heavily in this top ten list, in the following order:

 

· Surgeons come in first, with salaries up to $394,866

· Anaesthetists are second, at $367,343

· Internal Medicine Specialists are third, at $299,378

· Psychiatrists come in at a fifth place, on $216,075

· Other Medical Practitioners come in sixth, with salaries up to $204,387

 

Nabbing one of the highest-paying jobs often requires a top qualification, and surgeons and other medical specialists are some of the most highly trained people in the medical sector. It will take you upwards of 13 years, but it may be worth it if you’re suited to the job and the lifestyle it entails.

 

To become a fully qualified medical professional, you will need extensive training and very specialised skills acquired over years of study and internships. First, you’ll complete a Bachelor’s Degree in Medicine then an internship and a residency in hospitals. Things don’t necessarily get easier once you’re working in the field. 

 

Finance and business

There are a handful of multimillionaire CEOs who undoubtedly win the title for some of the ‘highest-paying jobs in Australia’, such as Qantas CEO Alan Joyce (who earned $23,876,351 last year!) For the rest of us, however, there is still a broad spectrum of jobs in business and finance that offer high remuneration. 

 

Financial Dealers came in at number four on the ATOs list, with an annual salary of $261,008, while Chief Executives and Managing Directors came in at number nine, with salaries averaging around $157,643. According to other estimates, you can also expect to make a decent wage in these roles:

 

· Financial management: $131,993

· Financial strategy and planning: $129,238

· Accounting company secretaries: $128, 641

· Construction, management and project management: $130,000

· Consulting and strategy: $126,000

· Insurance and superannuation management: $124,480

 

Financial Dealers, including stockbrokers, futures traders, financial market brokers and investment bankers make financial transactions for their clients. They also offer advice and interpret data on economic trends.

 

To become a Financial expert, you will usually need a formal qualification in economics, finance, accounting, business or commerce.  You may need to get registered with the Australian Securities and Investments Commission (ASIC) to be a financial dealer

 

This is a competitive field, so you’ll a strong academic record to get hired at a reputable firm. Most of these jobs are concentrated in the major cities, like Melbourne, Sydney and Brisbane

 

Legal professionals and magistrates

Number 7 on the ATO list is ‘Judicial and Other Legal Professionals,’ with an average salary of $195,703. Judges are generally the highest paid legal professionals.

 

However, general counsel positions within the corporate sector also score incredibly highly on another metric, calculated by Michael Page Recruiting. They report that salaries of general counsel professionals range from $205,000 to $283,999. You will need to study a Bachelor of Laws and typically takes four years to complete.

 

Information and communication technology (ICT)

With data and technology industries rapidly evolving, specialists in ICT are commanding increasingly higher wages. According to estimates based on salary calculating website GlassDoor and job-seeking site Seek.com, ICT professionals can expect some pretty impressive salaries these days:

 

· ICT systems architecture: $139,883

· ICT management: $134,639

· IT security architecture: $124,000

· Cloud engineering: $112,000

· Data science: $100,000 

 

You will need to study a Bachelor of Computer Science or Engineering (Honours) (Software) to a career in ICT

 

Engineering

Closely following legal professionals on ATO’s top ten list, is ‘Mining Engineers,’ coming in at number eight, with an annual salary of $167,345. With mining being such a massive industry in Australia, this isn’t all that surprising. 

 

However, engineers in Australia do command high salaries across the board, whether they’re working in mining or not. According to Seek.com, the average engineer in Australia earns $134,479.

 

Bachelor’s degrees in civil, mining, petroleum, environmental, chemical and electrical engineering can help in this engineering career.

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