Australia is one of the highly developed countries with a high GDP per capita. The quality of life, low rate of poverty, and excellent education, among others. Pre-COVID-19, the economy was doing quite well. The country also offers numerous well-paid roles in various industries.
If you’re considering a career switch or just wondering about the latest salary trends in the Australian market, this blog post is for you. We have compiled a list of the top 10 highest paying jobs in the country. Here they are:
- Surgeon – $402,582
Almost 4,000 Australians are surgeons, and they have an average salary of $400,000+. It is not actually surprising that surgeons are the highest paid in the country. They are responsible for different tasks, including pre-operative assessments, operations, and even post-operative treatments.
Surgeons deal with a variety of conditions and ailments. They begin as general surgeons and can choose a specialty, if they wish, increasing their income.
- Anaesthetist – $382,674
An anaesthetist is a type of physician who works as a member of a surgical team. More than 3,000 Australians work as an anaesthetist. Before they can start administering general or local anaesthesia, they should complete specialist training that spans five years with the Australian and New Zealand College of Anaesthetists.
- Internal Medicine Specialist – $301,129
Also known as general physicians, an internal medicine specialist works in a hospital, clinic, or any applicable healthcare setting. Normally, their job is to diagnose and treat different illnesses of adults.
According to our data, the annual salary of an internal medicine specialist is $301,129. As with most jobs in the medical field, it is a requirement to complete a medical degree. After that, a post-graduate degree should be finished, as well.
- Financial Dealer – $272,895
The top three highest paying jobs on this list are all in the medical field. But on the fourth spot, we have a financial dealer from the finance industry. Earning more than $270,000 yearly, professional financial dealers work with people to provide advice on certain financial matters. They also perform market transactions.
Entering this profession means that you have acquired formal qualification from specific fields, including accounting, economics, finance, and commerce. You may also be required to complete post-graduate studies.
- Psychiatrist – $225,206
Psychiatrists are best known for being mental health practitioners. They specialise in assessing, diagnosing, and treating mental health disorders of their patients. Some of these illnesses include schizophrenia, depression, addiction, and bipolar disorder. A psychiatrist is licenced to administer medication. On average, the average yearly salary in Australia is $225,206 for a psychiatrist. You will need to complete a medical degree and training. Residency is also required.
- Other Medical Practitioners – $215,728
More than 28,000 Australians are currently medical practitioners and receive an annual salary of $215,728. These professionals do not include surgeons and those already mentioned above. Examples include optometrists, clinicians, administrators, and more. To become a medical practitioner, Medicine should be studied at a university. It is often required that you have a Senior Secondary Certificate of Education.
Some prerequisite subjects include mathematics, biology, English, and physics. The primary duties of medical practitioners include diagnosing physical and mental health conditions, injuries, and illnesses. They also provide medications and treatment to restore the patient to good health.
- Judicial or Legal Professional – $184,598
Almost 4,000 Australians are in the legal industry, and they consist of lawyers, judges, and the like. They hear legal matters in courts and tribunals. Some of their duties include analysing, interpreting, and providing lawful advice to their clients.
In Australia and New Zealand, judicial and other legal professionals should finish a Bachelor’s Degree or higher, along with five years of experience. Judges are appointed by the government and should be a Magistrate first or with at least seven years of experience as a legal practitioner.
- Mining Engineer – $179,288
According to statistics, there are more than 8,000 mining engineers in the country who earn almost $180,000 each year. Mining has become an extremely massive industry in Australia, which is why it comes as no surprise that these engineers are among the highest paid jobs.
A mining engineer’s roles are to plan, coordinate, and direct mineral extraction, as well as other natural resources, such as petroleum from the earth. Before you can enjoy this salary, you need to complete a Bachelor’s Degree in Engineering.
- CEO or Managing Director – $170,336
Australia is home to more than 174,000 Chief Executive Officers (CEO) or managing directors. They earn an average of $170,000+, which differ from their industry, company size, skill, experience, and location. As high-level executives in businesses, they have a big responsibility for the company or corporation they are running. They direct the operations of the company while also giving strategic recommendations to the board members.
A CEO or managing director should also make sure business goals are met. There is often no education requirement in becoming a CEO of a company. However, if you do complete a Master’s degree or any post-graduate program, it will help you earn more.
- Engineering Manager – $156,015
If you are an engineering manager in Australia, you can bring home $156,015. Of course, this salary comes with great responsibilities, including planning and coordinating the projects to the team. An engineering manager supervises a team of designers and engineers throughout the course of a project.
Being an engineering manager offers a well-paid position that requires creativity and problem-solving skills. Many challenges could be encountered because the industry evolves rapidly. To become an engineering manager, you should first study engineering at a university.
As you can see from the list above, most of the highest paying jobs are in the medical field, which has been the same for many years now. However, there are numerous other emerging industries, including engineering, IT, construction, and marketing (including forms of digital marketing such as SEO and paid search), whose salaries increase each year, as well.
It is also worth noting that the pandemic has changed the Australian job market. A lot of people have started working from home and enjoyed interestingly high salaries.
Do you want to know how much you will take home after taxes? Use our income tax calculator to help you out.