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 does create a potential opportunity for skilled workers to carve out a lucrative niche for themselves in 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 Top Paying Jobs in Australia
While there are many different surveys and forums 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|
|3||Internal Medicine Specialist||$263,301 AUD|
|4||Financial Dealer||$219,213 AUD|
|6||Mining Engineers||$166,410 AUD|
|7||Other Medical Practitioners||$166,025 AUD|
|8||Chief Executives/Managing Directors||$152,364 AUD|
|9||Engineer Managers||$148,852 AUD|
|10||Generalist Medical Practitioners||$144,498 AUD|
|11||Information Technology Architects||$138,144 AUD|
|13||Information Technology Management||$132,307 AUD|
|14||Mining, Resources, & Energy Management||$131,462 AUD|
|15||Legal Generalists – In House||$128,988 AUD|
|16||Accounting – Strategy/Planning||$128,373 AUD|
|17||Accounting – Financial Managers/Controllers||$126,906 AUD|
|18||Construction Management||$126,122 AUD|
|19||Construction Project Management||$124,603 AUD|
|20||Insurance Management||$124,432 AUD|
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 there were only 4,900 new jobs 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. For new entrants such as immigrants or recent graduates, these results are troubling 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 an essential component when deciding whether these opportunities are worthwhile to consider 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 the top salaries in Australia should consider leaning towards these career paths in the coming years.