It's actually harder than you think to really work out which jobs are the highest-paying. There are lots of different sources and a lot of the information on salaries is self-reported.
Furthermore, most information doesn't take into account how much professionals have spent on their education and qualifications, how many years it takes to get into the profession, or even how many hours they work each week.
For this article, we've taken the information provided by the Australian government on taxable income so there could be jobs that earn more but don't declare their earnings.
In either case, these jobs and industries would be fairly lucrative choices and all earn at least more than double the salary of the average Australian!
15: Enterprise and Software Architect/Manager
With average yearly earnings of $142,000 a year, this is hardly a job to turn your nose up at. Relatively speaking, this job doesn't require too many years of study and while a master's degree is recommended, it can be done by those with bachelor's degrees, diplomas, or relevant certificates. Basically, you have to manage and maintain IT networks.
Just remember that there are plenty of great jobs that don't require a degree.
14: Director of Information Security
This is another job in IT, but this time it's about keeping company data secure and safe from cyberattacks and theft.
A director of information security can earn an average salary of $149,000. With many different academic qualifications available, this is a job that you have to study for but also work your way up to.
13: Vice President
The second-highest person in a company will obviously earn quite a lot with whoever's in charge likely earning the most. The average vice president in Australia earns $151,000 a year.
There's no set career path for this kind of job as you need to work your way up within a company to get it, though qualifications in business can certainly help.
12: Quantitative Analyst
A quantitative analyst is somebody who works with numbers for the purpose of financial reporting and decision-making.
It's their job to use mathematics in a financial setting so that companies can choose how to best spend their money.
For their work, they earn an average of $154,000 a year.
11: Engineering Manager
Engineering is huge in Australia, especially in lucrative areas like minerals and mining. An engineering manager earns an average of $160,000 a year for managing teams of engineers as well as many other aspects of engineering projects.
Engineering managers usually have at least a bachelor's degree in engineering or a related field and often will have postgraduate qualifications.
This is another role that you'll likely have to work your way up to and one of the higher steps on an engineer's career ladder.
10: Financial Investment Advisors
A financial investment advisor is a fairly self-explanatory job title. They earn an average of $170,000 a year for providing companies and clients with advice on their investment options and how to mitigate financial risk.
An education in business, finance, and economics is useful for anyone aspiring to become a financial investment advisor.
9: CEO / Managing Director
You'd probably think that CEOs and Managing Directors would be the highest-paid individuals on our list, but since companies come in all shapes and sizes, the average salary is around $178,000.
Generally, the CEO or Managing Director will earn more than anyone else in the company, but for every millionaire CEO in charge of a massive company, there are plenty of CEOs in smaller companies.
The numbers are also likely skewed by the fact that this list is based on their taxable income so other financial benefits that are part of their remuneration package won't have been taken into account.
It's very common for CEOs and Managing Directors to enjoy perks such as shares and similar financial products that the government wouldn't necessarily consider an “income”.
Needless to say, CEOs and Managing Directors are far from scraping by and every one of them earns quite well.
To become one, you'll have to either be promoted internally or have a proven track record in business to be hired directly as a CEO or Managing Director.
8: Judge or Legal Professional
Working in law is traditionally considered to pay well. After all, it takes years of study and experience before you start making the $193,000 average taxable income.
In Australia, a judge needs to complete their law degree and work as a barrister or solicitor first. In Western Australia, for example, it takes at least eight years of legal experience (as a practising barrister or solicitor) to become a judge.
This isn't immediate, either, and you'll find that most judges have far more experience than this before they're appointed to the role.
7: Mining Engineers
Mining engineers earn an average of $196,000 a year, more than the average engineering manager!
Naturally, an engineering manager in the mining industry would likely earn more than the engineers they manage, but the average taxable income for engineering managers will include roles from many different industries.
Generally, the mining and minerals industry includes many lucrative roles and you'll find that most jobs are paid relative to the industry they're in rather than the role itself.
6: General Medical Practitioners
This is the first medical role in our list but it's certainly not the last. Many of the jobs in medicine require a high level of specialisation, many years of study, and a lot of experience and expertise.
General medical practitioners include many different roles, many of which aren't really that general. However, depending on the role, the average salary of $223,000 might seem unrepresentative because this includes so many varied careers.
In any case, a career in medicine will likely pay well, but it does come at the end of several years of medical school, a residency, and several years of experience.
As you'll see, most medical professionals can boost their earning potential by specialising, though this often comes with at least 5 years of further study and specialisation.
5: Psychiatrist
The average psychiatrist in Australia earns nearly $236,000 a year.
To become a psychiatrist in Australia, you have to first complete a medical degree, which can take between 4 and 6 years. You then need to do your residency in a hospital for a year. Finally, your specialist psychiatry training will take 5 years.
It's neither cheap nor easy becoming a psychiatrist and the time and money invested in this specialisation is reflected in the salary they earn.
After all, they've spent at least a decade studying to become a psychiatrist.
Looking for work before going to university?
Check out the best jobs for teenagers.
4: Financial Dealer
The average financial dealer in Australia earns $276,000 a year. Financial dealers buy and sell commodities on behalf of their clients for profit.
Their work often involves a lot of financial risk and requires a good understanding of finance, accounting, economics, and business as well as relevant qualifications in these areas.
Beyond that, a financial dealer also needs a licence from the Australian Securities and Investments Commission.
3: Internal Medicine Specialist
An internal medicine specialist is another medical professional with at least a decade of both general medical education and specialised medical training.
The average internal medicine specialist earns $305,000 a year and is tasked with the diagnosis, treatment, and management of conditions like heart disease, hypertension, pulmonary disease, and other conditions that are difficult to diagnose or treat.
An internal medicine specialist needs to first complete their medical training and residency before undertaking further training in internal medicine.
2: Anaesthetist
With an average salary of $386,000 per year, anaesthetists are paid for their expertise and understanding of anaesthesia, often in surgical settings.
Like the other medical professionals on our list, they start out with their medical degree and residency before undertaking further training to specialise.
1: Surgeon
Last but not least, surgeons are Australia's highest-paid profession with an average salary of around $394,000.
In the same way, medical professionals earn more based on their specialisation, within the world of surgery, the very best and most specialised surgeons can earn far more than the average.
Becoming a surgeon is far from easy and like any career in medicine, it'll be several years of study before you're anywhere close to being ready to practise as a surgeon.
As you've seen, most of these jobs require a lot of study and even if this isn't in university, knowledge and experience are key.
With so much studying an essential part of many of these jobs, you may be interested in the best jobs for university students.
If you aspire to do any of these jobs and need help with studying or developing new skills, don't forget that private tutoring is an excellent way to learn in sessions that are tailored to you.
Many skilled and qualified private tutors on the Superprof website can help you and with many of the tutors offering the first session for free, you can always try several of them out before finding which one is right for you and your career goals!
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