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:
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:
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:
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.
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:
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.
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: