The Best Paying Jobs in Australia

The Best Paying Jobs in Australia

The Australian job market has been quite successful in recent years. The reason for this is that there is a shortage of qualified professionals in many industries, which creates a potential opportunity for skilled workers to carve out a lucrative niche in the Australian job market. When trying to ascertain which professions are the highest paying in Australia for future job prospects, consider the information provided below:

List of The 10 Top Paying Jobs in Australia

While many different surveys and forums are providing the top-paying jobs in Australia, the table below provides an average from several sources indicating the profession/role type and median salary:

Ranking Profession/Role Type Median Salary
1 Surgeons $406,068
2 Anesthetists $388,814
3 Internal Medicine Specialist $310,848
4 Financial Dealer $279,790
5 Psychiatrists $252,691
6 Other Medical Practitioners $232,903
7 Judicial Or Other Legal Professionals $189,538
8 Mining Engineer $188,083
9 Engineering Managers $161,514
10 Financial Investment Adviser Or Manager $155,882

The data is from the Australian Taxation Office for 2022.

Average Australian Salary By State & Territories

State/Territory Average Salary (Male) Average Salary (Female)
New South Wales $96,101 $84,614
Victoria $96,845 $83,023
Queensland $92,570 $77,922
South Australia $84,937 $78,592
Western Australia $106,387 $83,803
Tasmania $83,008 $75,431
Northern Territory $93,3405 $82,129
ACT $106,865 $98,467

Why Are These Jobs So High Paying?

One trend that has been noticed in Australia is that there has been less job creation in recent years. It could be argued that this allows many permanent positions within Australia to have higher salaries since experts have a niche of expertise and there is less supply of professionals to compete for salaries. For those that have an established position or practice within the Australian market, salaries are quite lucrative compared to other parts of the world.

Is the Employment Market in Australia Doing Well?

All in all, the employment market in Australia is stable. While only 4,900 new jobs were created in March, Unemployment is hovering close to 5.5%, which is lower than previously. What is worrying analysts is the lack of job creation from the projected 20,000 new jobs. That said, the employment market in Australia has opportunities for those that are established there. These results are troubling for new entrants such as immigrants or recent graduates unless the applicant has strong personal connections to gain an opening in a country particular to their industry of choice.

Final Remarks on the Subject

Australia does have incredible salaries available. Considering these salaries, it is important for families to consider the cost of living in Australia, particularly in cities such as Sydney and Melbourne. The cost of living is essential when deciding whether these opportunities are worthwhile for professional success and financial rewards. In terms of jobs to strive for, medical professionals, mining engineers, financial traders, and information technology professionals are amongst the highest paid in Australia. For this reason, those looking for top salaries in Australia should consider leaning towards these career paths in the coming years.