The highest paying jobs in Australia have been one of the most searched recently, as many are curious to know which job pays more.
But, do you know you need to choose the right degree to get one of the highest paying jobs in Australia? Australian institutions usually allow students to stay for two or four years after they graduate.
Under the Post-Study Work stream of the Temporary Graduate visa (subclass 485), you can work, study, and travel in Australia.
When financially secure, Australia is a fantastic country to learn, work, and live in.
According to data from Number.com’s Cost of Living Plus Rent Index, a person in Sydney will need about 4,780.02 AUD, while a person in Melbourne will need about AUD 4,000.
However, a one-month public transportation pass costs A$152, a cappuccino costs A$4.73, and a supper at a budget restaurant costs A$20.
Beer tax increases might eventually cause a pint to cost as much as A$15. In other words, it’s not inexpensive.
Graduates in Australia should try to find jobs that pay at least the national average wage of A$5,966.96 per year.
Even while it’s commendable to save money while holding down a low-paying job, doing so might not be the wisest course of action.
Gaining the appropriate credential now will set you up for future success and higher earnings in the labor market. You have the chance of getting one of the highest jobs in Australia.
If you want a career in Australia, take a look at the highest paying jobs in Australia below.
Highest paying jobs in Australia
General Counsel
It’s common knowledge that the legal field pays exceptionally well. The top legal professionals are general counsels, defined here as in-house lawyers at an ASX 100 firm.
That corporation has hired you directly, as opposed to having you work for a law firm that represents other businesses.
A general counsel is a top attorney in charge of a company’s or government agency’s legal team. Seven or more years of relevant work experience are typically required for promotion to this level.
Inside legal departments, general counsels earn $249,333 annually, or $4,795 weekly, on average. This makes it the first on the list of highest paying jobs in Australia.
You must do the following if you want to get this job as one of the highest paying jobs in Australia.
- Have either a Bachelor’s in Law or a Juris Doctor from an accredited university.
- Receive Extensive Hands-On Legal Experience (PLT).
- Initiate the admissions process with the appropriate state or territory’s Admissions Authority within five years of completing high school.
- Submit an application to your state’s Bar Association for a license to practice law.
- Complete an approved period of supervised legal practice lasting between 18 and 24 months.
Anesthetist
There is a good reason anesthetists get six-figure salaries: the work they do is extremely risky and difficult. To help patients relax during surgery, surgeons often enlist the help of medical physicians known as anesthetists.
According to training.com.au, the average anesthesiologist’s annual salary is $386,065, which works out to approximately $4,647 weekly after deductions.
For success in such a competitive industry, you must,
- Completion of medical school is a time commitment of four to six years.
- Do an internship at a reputable medical facility.
- Get accepted by the Admissions Authority in your home state or territory within five years after finishing high school.
- Complete a residency program at a recognized medical facility.
- Join the Australian and New Zealand College of Anesthetists and spend five years honing your skills in the field.
Cardiologist
Another lucrative medical field is one of the highest paying jobs in Australia. Cardiology focuses on the investigation and treatment of problems with the cardiovascular system.
This high-stakes position includes everything from doing tests to performing procedures, and it pays well.
On average, cardiologists in Australia earn $351,827 per year, which drops to $222,838 once taxes are taken out. In other words, you’d be making $4,285 every single week!
As a prerequisite for working in this niche industry, you must:
- Complete an undergraduate degree in medicine or a related medical field.
- Get your medical degree.
- Spend two years working in a public hospital system, where you can earn your internship and residency degrees.
- Apply to the Fellowship program at the Royal Australasian College of General Practitioners to advance your education.
- There’s a minimum of six years of schooling involved, during which time you’ll be working as a doctor.
- Spend at least three years studying cardiology in an advanced program.
READ MORE: Jobs in Alberta, Canada: 2022/2023
Company Secretary
To most people, the high earning potential of a career in law is not news. Company secretaries are in higher demand than lawyers and barristers, which may come as a surprise to some.
A company secretary’s role is to offer business administrative, legal, and clerical support.
The average salary for a company secretary is $342,000. This equates to $217,708 before taxes or $4,187 per week.
Corporate secretaries typically hold a bachelor’s degree in business, law, accounting, or public administration.
Pathways:
- A Diploma of Business Administration:
- Business Administration Advanced Certificate
- Administration Pathways
General manager /project manager
Don’t know anything about medicine? There are many well-paying opportunities in Australia’s booming construction business, which is sure to excite you.
General managers are responsible for all aspects of running a business, from allocating funds and creating policies to supervising employees and keeping tabs on the administration, and dealing with outside vendors.
Managers at the general or project level make $350,000 annually or $4,266 per week after taxes and benefits.
Gaining financial success as a general manager requires the following steps:
A bachelor’s degree in business administration or something related is not bad. You can improve your marketability in the job market by earning a graduate degree, such as an MBA.
Build your resume by gaining experience in various departments of an organization, but especially in leadership roles involving people management and process oversight.
Pathways:
- Undergraduate Certificate in Construction Management
Head of operations
The mining firm’s operations are overseen by the Head of Operations, who is responsible for making the best possible use of available resources and the maximization of corporate revenues.
The annual salary for the position of Head of Operations is $325,000 ($208,083 after taxes). You can expect to receive $4,002 every week after taxes and deductions.
Those who hold this position often have five years’ worth of experience in the field, having risen through the ranks and earned relevant credentials along the way.
Pathways:
- Undergraduate Certificate in Construction Management
- Diploma of Project Management
- Building Leadership Program
Surgeon
Surgeons are medical professionals who perform surgical procedures and provide postoperative care for a wide range of medical disorders based on a thorough diagnosis.
Before specializing, all surgeons must get experience in general surgery.
A general surgeon’s average compensation is $305,276 per year before taxes, which equates to $197,235 ($3,793 x 52 weeks).
You must do the following to get to the surgery room:
- Earn a medical degree and spend the next two to three years honing your clinical skills.
- Submit an application to the SET (Surgical Education and Training) program at the Royal Australasian College of Surgeons in your third year of study.
- If you want to train alone, become a FRACS.
Chief Technology Officer
Chief technology officers are in high demand as they fill what is being called an “emerging role.” The expansion of big data, the maturation of AI, and the threats posed by COVID-19 have all contributed to the continued success of the IT industry.
Chief Technology Officers (CTOs) are responsible for overseeing an organization’s technological infrastructure, driving innovation in the field of technology, and making sure the business is ready for the digital age.
According to our calculations, a Chief Technology Officer can expect an annual salary of $300,000. This equates to a net income of $194,333, or a weekly salary of $3,737.
A Chief Technology Officer must…
Earn a four-year degree in a discipline connected to computers and technology; emphasizing cybersecurity, big data, and artificial intelligence.
Get experience in a wide variety of fields, including network design, data security management, and big data engineering. Most companies wait 15 years before promoting an IT professional to the position of chief technology officer.
Learn to be a responsible businessperson with strong leadership and decision-making abilities.
Internal Medicine Specialist
Medication, immunizations, and other non-invasive treatments are administered by specialists in internal medicine, also known as general practitioners (GPs).
Usually, you’ll be the first person patients talk to, and if further care is required, you’ll refer them to experts.
The average salary for an internal medicine specialist is $304,752, which translates to an annual salary of $196,947 (or $3,787 a week) once taxes are taken out.
The following are the requirements for general practitioners:
- You should get your Bachelor’s degree in medical studies before starting a Doctor of Medicine program.
- Go through an internship program at a reputable medical facility.
- Apply for membership in the Australian Medical Board.
- Achieve general practitioner fellowship status.
Portfolio manager
When it comes to the IT sector, a portfolio manager oversees all the projects, investments, and operations that fall within their purview.
IT portfolio managers, a relatively new and growing profession, earn an average of $280,000 per year, or $3,526 per week, according to our analysis.
Pathways:
Bachelor of Business with a focus on accounting and finance
Certificate IV in Financial Services
Diploma of Information Technology
Most In-demand skills in Australia
Accounting and Finance
There are a lot of jobs in Australia that have to do with accounting and finance. If you’ve been trained as an accountant and have worked with bookkeeping and payroll, you may be able to apply for many of these jobs. There is also a high demand for financial analysts and consultants who can help businesses and people make better financial decisions.
Teaching
Right now, Australia needs a lot of teachers, especially those who teach high school. If you know how to teach and have done it before, you should have no trouble getting a job here. Right now, there is a lot of demand for teachers who are good at a certain subject, like math or language. If you list these skills on your resume, you’ll be ahead of other people who are applying for the same jobs.
Customer Service
It’s always important to have good customer service skills, but they’re especially valuable right now. From retail stores to IT companies, all kinds of businesses need people who are patient and good at talking to other people. If you can do these things, you’ll likely have a lot of job options, especially if you have customer service experience.
Electrical Engineering
Australia always needs a lot of engineers, and electrical engineering skills (like designing circuits, being able to make electrical schematics, building and running computer systems, etc.) are especially valued. There are several opportunities for people with electrical engineering degrees and current licenses and certifications.
Civil Engineering
Australia is also looking for people with skills in civil engineering right now. To be a good civil engineer, you need to know a lot of things, from math and physics to how to run projects and keep things organized. But if you have these skills and the right degrees and certifications, you’ll be able to find a lot of job opportunities.
Project management
In Australia, every industry needs skilled project managers to keep operations running smoothly and guarantee that projects are finished on time and within budget. Project managers need to know about their industry, but they also need to have a variety of “soft skills.” They need to be good at communicating, organized, and getting other people to work hard. If you have these skills, you’ll have a good chance of getting one of the many available project manager jobs.
Nursing
Skills related to health care, such as nursing, are always in high demand. In Australia, there is a great demand for trained nurses with expertise who can help patients and give them the care they require. If you have been trained as a nurse, you probably won’t have any trouble finding work in Australia, especially after COVID-19.
Support for Mental Health
Just as vital as physical health is mental health. If you’re a psychologist or other mental health expert, you’re in high demand right now in Australia, especially given how many individuals are trying to heal from the psychological damage that COVID-19 caused. Counseling, crisis management, and mental health assistance abilities are in demand.
Sales
Many companies in Australia are looking for skilled, experienced, and hard-working salespeople. You’ll find lots of opportunities to use and develop your skill set when job hunting here if you’re a fantastic communicator and someone who doesn’t mind emphasizing the positive aspects of a good or service to sell it to others.
Software Development
Australia is also in need of more people with skills in software development. If you know a lot about different programming languages, pay close attention to details, and can meet deadlines, there are a lot of jobs where you can use these skills. Many businesses, from tech companies to marketing firms, are looking to grow, and your skills in software development will help them do that.
Top in-demand jobs in Australia
IT Systems Architects
The average wage here is about A$ 140,000, which is about US$ 99,000. The pay for senior positions may be much higher. At the moment, different sites for hiring show that there are between 800 and 1,200 jobs open across the country.
IT Manager
These roles have less to do with “administrative management” and more to do with how well you can use technology to bring about change. The average salary for a senior position in this field is A$ 125,000 (roughly US$ 89,000), and it typically involves consulting on extracting business value from IT. Statistics show that there are about 8,000 of these kinds of jobs open.
IT Security Architects
People are becoming more aware of how important it is to put more focus on IT security in general. Because of this, there has never been a greater need for skilled IT Security Architects. At the moment, experienced professionals in this field earn an average salary of A$ 124,000 (about US$ 88,000). In this field, there are about 166 open positions.
FAQ
What is the highest paying job in the world?
CEO, or Top Executive
This position offers a generous income and considerable autonomy, and the projected 8% annual increase in the employment rate between now and 2030 bodes well for its attractiveness. Approximately 247,100 executive-level positions are advertised annually on job boards.
Brief Description of Duties and Compensation:
Effective leadership and clear speech are essential for this position. A chief executive officer’s (CEO’s) job is to ensure that the business runs smoothly. Other essential additions to the toolkit include:
- Mindset known as “growth”
- Managing sales teams and training employees
- Efficient use of resources and money
- Uniqueness and originality
- Talent for linking strategy and action
CEOs are paid obscene amounts of money, but it’s for good reason. Essentially, their job is to oversee the entire operation of a company.
Top executives at well-known organizations can earn up to $310,000 per year, whereas the median wage for all workers is $106,654. Professionals with many years of experience may expect to earn a salary of $595,700 to $1,015,900.
Who earns the highest in Australia?
Medical Professional
The Australia Taxation Office (ATO) says that medical professionals make the most money, especially surgeons and anesthetists, whose salaries are a whopping $361,202 AUD per year.
Many applicants are drawn to the 7-year MD double degree program offered by the University of Sydney.
Which career field is the best in Australia?
Surgeon
It’s estimated that the average wage in this country is $394,303.
Surgeons are doctors who specialize in operating on patients who have been injured or afflicted by illness or malformation.
This average compensation can be deceiving, as different types of surgeons, skills, and certifications affect salary. Ophthalmologists made the most money ($533,511), followed by neurosurgeons ($600,387) and plastic surgeons ($500,269).
Qualifications:
- Earn a degree in medicine from a recognized institution.
- Spend two to three years working in a clinical setting.
- Apply to the Royal Australasian College of Surgeons’ Surgical Education and Training (SET) program in your third year (PGY3) to specialize in neurosurgery, cardiothoracic surgery, orthopedics, or plastic surgery. The average time for this to occur is 5.6 years.
- To legally work as a surgeon in Australia, one must first finish the SET and then become a Fellow of the Royal Australasian College of Surgeons (FRACS).
Conclusion
Aside from aspects like business culture, work-life balance, job security, and advancement potential, salary will be a major deciding factor when deciding on a career path and field of study. Even if we don’t enter a profession because of the financial rewards, it’s still vital that we know where to find the resources to support ourselves and our loved ones.
You can probably do what you love and make a good living in medicine, law, finance, business, and information technology. Keep in mind that the top 10 all share a commitment to education, experience, and genuine enthusiasm for their profession; as a result, you should take the time to hone your own set of skills and expertise.
