Top 15 Highest Paying Jobs in Australia

You might be searching for a career change that you’re passionate about, a recent high school graduate choosing a path, a recent layoff, or a small business owner. Whatever the case, it’s critical for individuals at every stage of their careers to stay abreast of job trends. Knowing which professions offer the highest yearly salary can also greatly assist you in making your decision.

The 15 highest-paying jobs in Australia in 2024

Based on average taxable income from over 14 million Australian tax returns for the 2020–21 period, as well as extra information gathered from Seek and Business Insider Australia, we have created a list of the highest-paying jobs in Australia. It should come as no surprise that the majority of high earners are medical specialists—they put in a lot of study time, a lot of hard work, a lot of pressure, and long hours. But since there are hundreds of specialties in the medical field, we have combined a few to give you a better idea of the highest-paying jobs in a variety of industries.

1. Surgeon

The average salary is $394,000. Surgeons are medical professionals who consult and perform surgeries on patients with illness or injury, as well as deformities.

The income average could be inaccurate, as there are many kinds of surgeons, and the kind of surgery and experience greatly affect the salary of a surgeon. The highest-paid medical professionals were neurosurgeons, who made an average salary of $600,000. Reconstructive surgeons came in second at $500,000, and ophthalmologists came in third at $533,000.

Qualifications:

• Get a university-accredited medical degree.
• Work in a medical setting for a period of 2 to 3 years.

In the third year of your education (PGY3), apply for the Royal Australasian College of Surgeons’ Surgical Education and Training (SET) to study one of the surgical specialties, e.g., brain or cardiovascular, orthopaedic or plastic. It usually takes between five and six years.
After the SET has been completed, you can become a Fellow of the Royal Australasian College of Surgeons (FRACS) and be able to be a surgeon.

2. Anaesthetist

Average salary: $386,000.
Anaesthetists assist in preparing surgical patients for the procedure, which includes pain relief, preparation for surgery, and implementing a patient care plan prior to, during, and after the surgery.

Qualifications:

• Get a university-accredited medical degree.
• An internship in a medical setting for a year
• Complete a residency of one (or more) years.
• You can apply to be a part of the Fellowship of the Australian and New Zealand College of Anaesthetists (FANZA) vocational training program. It takes about five years for completion.
• After FANZA is completed, you’re now a fully-qualified anesthetist.

3. Internal Medicine Specialist

Average salary: $304,000.
Internal medicine specialists are trained to diagnose, manage, and treat complex, sometimes complicated, or difficult-to-diagnose health disorders. They frequently consult with other physicians and have specializations or concentrations in the fields of infectious diseases, cardiology, geriatric medicine, or rheumatology.

Qualifications:

• Get a university-accredited medical degree.
• Complete a three-year intensive residency in internal medicine.
• Adult internal medicine training for three years at full-time
• If you’ve successfully finished your advanced course, the oversight committee will recommend you be admitted to the fellowship.
• The Royal Australasian College of Physicians will invite you to apply for fellowships in your department, faculty, or chapter.

4. Financial Dealer

Average salary: $275,000.
Financial dealers look at market trends, social trends, and the regulations of the government, in addition to their clients’ financial situation, to purchase and sell commodities at a profit.

Qualifications:

• A degree in accounting, commerce, economics, finance, or
• Request a license through the Australian Securities and Investments Commission (ASIC).
• After you’ve been accepted, you’re able to begin trading as a financial dealer.

5. Psychiatrist

Average salary: $235,000.
Psychiatrists specialize in diagnosing and treating mental disorders through psychotherapy, developing treatment plans, requesting tests and assessments in the laboratory, prescribing medications, and admitting patients to hospitals.

Qualifications:

• Earn an accredited medical degree at a university.
• Learn to become a registered medical doctor and
• Contact the Royal Australasian College of Physicians (RACP) to complete further education and pass the RACP written and clinical examinations.
• Get special training for another six years.
• After completing the course, you will be accepted into the fellowship of the Royal Australasian College of Physicians (FRACP).

6. Other medical professionals

Average salary: $222,000.

As we’ve said, there is a lengthy list of medical doctors, and their responsibilities and salaries are wildly different. The most lucrative and competitive medical practitioner jobs include those of orthopedic specialists, cardiologists, and gastroenterologists, who earn a median pay of around $450,000. There are general practitioners, pediatricians, periodontists, dentists, orthodontists, and obstetricians. There are many others. There are a myriad of avenues for specialization, and which one you select will likely be in line with what you’re interested in and what kind of population you’d prefer to benefit from.

Qualifications:

• Get a university-accredited medical degree.
• You must complete an internship for a year.
• Medical registration is available by contacting the Medical Board of Australia.
• Complete two or additional years of prevocational education.
• You can earn an associate’s fellowship through a specialist training program.

7. Legal professionals, such as judicial or other

Average salary: $188,000.
This is an expansive term that covers numerous jobs in the legal sector, but it can be anything from judges to all kinds of lawyers who specialize in personal injury, contracts, bankruptcy criminals, immigration corporations, or any other paralegals and administrative assistants. The prospect of a job with a law degree is thrilling since you can pick the field you’d like to work in and use your talent to make major changes to the law at the state, local, or federal levels, as well as in tribunals, courts, and royal commissions.

Qualifications:

• Complete a Bachelor of Law (LLB) undergraduate degree or get a Juris Doctor (JD).
• A practical legal education is completed in less than one year.
• Receive admission from the relevant state or territory admissions authority within 5 years after graduation.
• Apply for a practice certificate through the local society for law.
• Take 18–24 months to complete supervising work at an attorney firm.

8. Mining Engineer

Average salary:$184,000.
Mining engineers are responsible for conducting an evaluation of the feasibility, planning, and supervision of the construction of mining. They find potential development sites by working with geologists, conducting surveys of mineral deposits, coordinating the actual hiring of employees, and implementing safety and security programs and procedures. They also have the responsibility of returning the mines to their original condition once mining is complete.

Qualifications:

• You can pursue an undergraduate Bachelor of Engineering degree, majoring in geotechnical or mining engineering ( you can complete years 3 and 4 at Mining Education Australia (MEA), which is a joint venture with a variety of Australian universities).
• Apply for a position as an engineer with a degree in mining.
• In the next two or three years after graduation, you will be a skilled mining engineer.

9. Enterprise architecture manager

Average salary: $168,000.

Systems and enterprise architect managers are accountable for the oversight, direction, and technical aspects of the IT network of the company, from enhancing and upgrading services to overseeing hardware and software installation and implementation. They are the overall people responsible for overseeing the IT performance of their business and are responsible for software architects, enterprise architects, and other IT professionals.

Qualifications:

• A bachelor’s, diploma, or master’s degree in information technology, computer science, or any related field
• A background as a computer programmer and software developer is an advantage, as is hands-on experience working with different systems, including hard drives and cloud computing.
• Experience in leadership, management, and business development could be a plus.

10. CEO or Managing Director

Average salary: $164,000.
Chief executive officers, or managing directors, are the highest executive positions within an organization and are in charge of directing the activities, organization, personnel, and resources. General managers are responsible for the creation of budgets, business plans, and strategies and also identify potential risks that could impact the efficiency and productivity of the business and, ultimately, its profitability.

Qualifications:

• Complete a bachelor’s degree that is business-related (master’s choice).
• Gain experience on the job.

There isn’t one way to become the CEO of a business. There are exceptions and a variety of paths; however, education and experience are among the most crucial and reliable elements for success in the world of high-level business.

11. Engineering Manager

Average salary: $159,000.
Engineering managers supervise engineering teams and are usually responsible for the planning of the technical aspects of civil engineering as well as construction projects based on the agency or business they work for. Their day-to-day duties are budgets, schedules, and the creation of safety and quality procedures, as well as overseeing hiring, coordinating activities, and coordinating with the department head.

Qualifications:

• Complete the Bachelor of Engineering (Honours) accredited by Engineers Australia (further postgraduate study, such as the Master of Engineering Management, is highly recommended).
• Find an internship while you are studying to gain work experience.
• Following graduation, acquire your Engineers Australia membership and sign up with the National Engineering Register (NER).
• Join the Institute of Public Works Engineering Australasia.

12. Quantitative analyst

Average salary: $153,000.
Quantitative specialists, also known as “quant,” have the responsibility of using math and statistics to analyze financial information and manage risk. This assists the business in making sound business decisions about pricing, investments, and the overall operation of the business. It is a high-demand job as companies recognize how important it is to manage risk in a turbulent economic environment.

Qualifications:

• Get a diploma, certificate, or bachelor’s degree from the field of finance (a master’s degree in mathematic finance is a plus).

13. Human Resources: Head of HR/HR Director ($300K)

Given the ongoing changes in the workplace, HR specialists are crucial consultants for many organizations trying to make their way through the ever-evolving commercial and industrial regulatory landscape. As a result, there is a greater need for HR specialists with training and expertise. The largest income potential is for heads of HR/HR directors in companies with more than 1,000 workers; in Sydney, $280K is common, in Melbourne, $250K in Perth, and so on. Additionally, heads of L&D/L&D ($224K) and heads of/directors of compensation and benefits ($225K) have high average yearly normal incomes.

14. Director of Information Security

Average salary: $149,000.
Information security managers are responsible for ensuring the security of company data and defending against security threats. The requirements and responsibilities of their jobs vary widely based on the kind of business or industry. Their day-to-day responsibilities include financial obligations such as budgeting resources, resource allocation, strategies, and the implementation of data security, as well as technology-related policies and procedures in addition to HR-related tasks like hiring, firing, and training.

Qualifications:

• Get a diploma, certificate, or bachelor’s degree in computer science, cyber security, or any related field.
• Gain relevant work experience.

Be aware that a lot of security director posts require the holder to have a graduate certificate or a master’s level degree in areas such as cybersecurity or IT security management.

15. Enterprise and software architect/manager

Average salary: $138,000–$142,000.
Software and enterprise architects are responsible for maintaining the company’s IT networks, including upgrading and enhancing services and overseeing hardware and software installation and deployment. It’s about staying abreast of any IT advancements or trends that could give your business the edge, and it’s becoming more important in the digital age.

Qualifications:

• A bachelor’s degree, diploma, or master’s degree in information technology, computer science, or an area related to it.
• A background as a computer programmer and software developer is an advantage, as is hands-on experience using various systems, including hard drives and cloud computing.

The company, industry, and field you’d like to work in will be contingent on a range of factors, such as work-life balance, stability, potential, and company culture. But compensation will also play a significant role. While we might not do anything to earn financial gain, it’s important to know where our cash is going and how to provide for our families.

It’s likely to be possible to follow your passion and earn an income that is sustainable when you’re interested in areas such as finance, IT, law, medicine, or business. But the common thread in the top 15 is knowledge, competent experience, and passion for what you do, so make certain that your knowledge and skills are developed.