Top 24 Highest Paying Jobs In Australia: A Complete Guide

For some people, earning a decent salary comes second to job satisfaction when choosing a career. For the rest, money is the leading motivator to work and live a fulfilling life.

While it may seem easy to look at a profession's salary and consider a career switch, it is essential to note that different industries have many variations.

For instance, a job may provide a desirable work-life balance enabling you to spend more time with your friends and family. However, with a super high-paying job, you may not have time for this.

The Australian Tax Office (ATO) recently revealed statistics for the highest-paid jobs in Australia based on their average taxable income. Unsurprisingly, according to the database, some of the top and highest-paying occupations listed come in medicine, finance, and engineering. 

Other professions, such as executive and managerial positions, are also quite prominent.

In this post, you will learn about Australia's best-paid and highest-paying jobs to familiarise yourself with the job market and set your high salary goals accordingly.

1. Medical Professionals

The Healthcare system in Australia is one of the best around the globe, allowing students to take up specific practices like anaesthetists, surgery, psychiatry, and more.

Additionally, the Australian education system for medical students is exceptional and reputable, which you should consider giving the range of educational opportunities available.

According to the data shared by ATO, the top highest-paying jobs in Australia are in the medical field. These professions include the following:

• Surgeons: Around 4,000 Australians work under this occupation, earning an average taxable income of $394,866.

• Anaesthetists: More than 3,000 professionals in Australia work as anaesthetists. They earn an average taxable salary of $367,343.

• Internal Medicine Specialists: More than 8,500 are employed under this occupation nationwide, earning approximately $299,378 annually. 

• Psychiatrists: Australia has roughly 2,800 employees who work as psychiatrists and earn an average taxable wage of $216,075. 

• Other Medical Practitioners: Professionals who handle other medical departments fall under this category. There are over 28,000 workers employed under this position, getting an average taxable income of $216,075.

Your Pathway To Anaesthetics, Surgery, or Medical Specialisations:

Suppose you are interested in taking up a medical profession in the future. In that case, you can study Bachelor of Medicine or Bachelor of Surgery in Australia, which may take around six years to complete. 

As you further your education, you will have the option to specialise in a particular field. To get more information, contact the university you wish to apply to.

2. Business and Finance

With the growth of the financial services sector in Australia, many opportunities have opened up for people interested in business and finance roles. You can also expect a high salary in Australia if you have the required financial or business skills. 

As per the ATO's list, here are the top business and finance positions that earn the highest amount of salary:

• Financial Dealers: Around 4,500 employees work as financial dealers in Australia. They get an average salary of $261,008.

• Chief Executive Officers (CEOs) and Managing Directors: Roughly 174,000 people work under executive management positions, earning an average income of $157,643. 

• Financial Managers: These professionals earn an average salary of up to $131,993.

• Financial Strategy and Planning: The average taxable income of these workers in Australia is around $129,238.

• Accounting Company Secretaries: A company secretary is responsible for administering and managing the company's affairs. They earn an average taxable income of around $128,641.

• Management, Construction, and Project Managers: Professionals in these positions earn an average taxable wage of $130,000. 

• Consulting and Strategy: These positions have an approximate taxable income of $126,000.

• Insurance and Superannuation Managers: This occupation is best for individuals with a strong understanding of risk management. Employees who work in this position can earn up to an average salary of $124,480.

Your Pathway To Business and Finance Roles:

To begin your journey into these professions, you can pursue courses like a Bachelor of Accounting, Corporate Finance, and Business Management from any of the top universities in Australia. 

Suppose you are interested in financial management and trading. In that case, a Bachelor of Corporate Finance will provide you with the skills required to advance in this career.

3. Judicial and Other Legal Professionals

The Federal or State Governor or Attorney-General appoint Judicial and legal professionals in Australia. These professionals hear legal and other matters in tribunals and courts and further analyse, interpret, administer, and provide advice based on law. 

There are more than 3,500 workers in the legal industry who earn an average taxable salary of $195,703.

Generally, the position of a Judge is one of the top legal professions and the highest-paying job in Australia for females. However, General Counsel occupations in the corporate sector may get paid an average salary between $205,000 and $283,999, surpassing the average income of Judges.

Your pathway to Judicial and other legal professions:

You must complete a law degree to be eligible for Judicial and other legal professions in Australia. You should be licensed to practice law for at least eight years. 

Usually, most legal professionals in Australia have more than eight years of experience before being designated. Also, students interested in higher legal positions choose to complete their postgraduate studies.

4. Information and Communication Technology (ICT)

With the rapid growth of data and technology industries in Australia, there is a high demand for ICT professionals, further resulting in higher wages. 

According to statistics shared by various salary calculating websites, specialists in ICT can expect the following average taxable incomes:

• ICT Systems Architect: These professionals are responsible for building, designing, and testing an organisation's infrastructure with an internal network. Considering the highly complex and technical expertise required for this field, ICT professionals can command high salaries from employers. The average taxable income of an ICT specialist in Australia is around $139,883.

• ICT Manager: With many organisations focusing on the development of technology, there is a high value for IT professionals who can fill the gap between business development and technical expertise. The approximate average salary income of ICT managers in Australia is $134,639.

• IT Security Architect: The primary responsibility of an IT security architect is to protect and secure an organisation's infrastructure and extremely crucial data from malicious invaders. Thus, an IT security architect in Australia can expect a high average wage of up to $124,000.

• Cloud Engineer: This is another most in-demand job in Australia, consisting of different roles, such as cloud security engineer, cloud software engineer, cloud systems engineer, and cloud network engineer. The average taxable income of a cloud engineer in Australia is around $112,000.

• Data Scientist: These professionals are primarily responsible for gathering, analysing, and interpreting mass amounts of data and turning it into actionable and valuable information. In almost every sector, organisations are looking for competent and qualified data scientists, making it a highly paid-profession. The average taxable salary drawn by a data scientist in Australia is around $100,000.

Your Pathway To a Career In ICT:

To become an ICT professional in Australia, you must have an in-depth knowledge of programming languages. You also need a bachelor's degree in STEM (Science, Technology, Engineering and Mathematics) courses. 

You can also opt for other qualifications like a Bachelor of Computer Science, Software Engineering, or Bachelor of Engineering, depending on the type of ICT career you would like to pursue.

5. Engineering

The scope for Engineers in Australia is broad and bright. You can take up plenty of specialised roles as an engineer and exhibit your knowledge in diverse disciplines.

Top Australian universities offer engineering courses in addition to industry-focused practical learning that will help you to build a career in the engineering field of your choice.

As per ATO's data, the top and highest-paying engineering professions in Australia include the following: 

• Mining Engineers: Mining is a massive industry in Australia, giving opportunities to over 8,000 mining engineers across the nation. These professionals also earn a handsome average annual salary, at least a minimum of $167,345. 

• Engineering Managers: The responsibility of an engineering manager in Australia is to administer, plan, and review technical and engineering operations. There are more than 25,000 workers in Australia who work in this position and earn an average taxable wage of $147,451.

Your Pathway To Becoming an Engineer In Australia:

As qualified engineers are in high demand in Australia, you must complete your undergraduate degree from an accredited university, followed by a Master of Engineering.

Suppose you study for both undergraduate and graduate degrees. In that case, you will receive a higher qualification than merely studying a double degree program.

This will further allow you to enter an advanced engineering profession that requires professional qualification combined with analytical, technical, and interpersonal skills.

Closing Words

It is essential to remember that money is not always the most critical factor to consider when conducting a job search.

You may encounter a situation when a particular profession does not offer a competitive salary. In this scenario, you can look for other benefits like flexible working hours, paid leaves, and extended medical benefits. T

hese benefits may compensate for the average lower salary you receive.

Useful Links to Explore:

• English Language Requirements for Australia
• Cultural differences you may experience in Australia
• How to find Part-Time work as a Student in Australia
• Seven Tips for Students on a Budget in Australia
• How to get a Scholarship to Study in Australia
• Driving in Australia as an International Student
• How to change your Course or Institute in Australia
• The Benefits of a Professional Year Program (PYP)
• A Complete Guide to Study in Australia
• Types of Education in Australia
• What to Study in Australia?