Are you curious to explore the most financially rewarding careers that Australia has to offer? Whether you’re a seasoned professional seeking a new venture or a recent graduate contemplating your career path, understanding the highest paying jobs in Australia can provide invaluable insights into the job market’s lucrative landscape. Discover the dedication it takes to become an equity partner in a prestigious law firm and reap the financial rewards that can soar up to $850,000 per year. Uncover the visionary minds who lead companies with turnovers ranging from $50 million to $500 million, securing impressive CEO and Managing Director salaries of up to $700,000.
In this blog, we delve into the realms of corporate boardrooms, legal chambers, tech domains, and various other industries to uncover the high salary jobs in Australia when it comes to earning potential. From the bustling cities of Sydney and Melbourne to the picturesque locales of Brisbane and Perth, join us as we shed light on the most high paying jobs in Australia that come with reaching the top of your field.
Legal Profession
One of the top paying jobs in Australia was an equity partner (up to $850,000). Ordering to be a successful equity partner in a law firm requires hard work and devotion, but the rewards are enormous. Top equity partners earn more than $500,000 on average in Perth, Brisbane, Melbourne, and Sydney, with Sydney leading the pack at $850,000 or more.
CEO and Managing Director ($700,000)
CEOs and managing directors for companies with revenues ranging from $50 million to $500 million typically make $600,000, with some earning up to $700,000. Other leaders, such as COOs and executive general managers, can earn between $500,000 and $600,000 per year.
Retail – General Manager (up to $510,000)
Salaries in retail vary, with general managers earning between $204,000 and $510,000. Other high-paying roles include group planning managers or directors ($160,000 to $300,000) and E-Commerce managers (salaries above $200,000).
Accountancy & Finance –Treasury Director ($410,000)
In Sydney, the Chief of Treasury can make $410,000. Group financial controllers normally make roughly $280,000, although heads of tax, risk management, and internal audit can make up to $400,000.
Property: Development Director (up to $388,000)
Development directors in Sydney earn between $224,000 and $388,000, with Brisbane having the highest typical salary at $306,000. Development managers earn between $133,000 and $255,000.
Energy: Project Delivery Director (up to $357,000)
Top-earning project development directors in renewable energy in Sydney and Melbourne can reach up to $357,000. Construction managers in renewables earn between $153,000 and $230,000.
Construction: Construction Manager (up to $320,000)
Construction managers earn between $250,000 and $320,000, while project managers take home $160,000 to $250,000.
Sustainability: Head of Sustainability (up to $310,000)
Heads of sustainability or ESG can earn up to $310,000 in Western Australia, while sustainability managers are on roughly $230,000.
Technology: CIO/CTO ($306,000)
In Sydney, tech leaders such as CIOs and CTOs earn $306,000. Project directors make $260,000 a year, while programme managers make $210,000 and enterprise architects make $230,000.
Marketing & Digital – Executive Director of Communications ($300,000)
Executive directors of communications in Sydney can expect a typical salary of $300,000. Marketing directors earn an average of $220,000.
Human Resources – Head of HR/HR Director ($300K)
Heads of HR or HR directors in large organisations earn around $300,000 in Sydney, $280,000 in Melbourne, and $250,000 in Perth.
Banking: State Manager ($300,000)
State managers in the banking sector typically earn $300,000. Other executives in business and commercial lending can attract salaries above $200,000.
The Highest Paying Jobs In Australia For Medicine
The salaries listed below are simply guidelines, but they provide some insight into what top medical professionals can command.
1. Surgeon – $406,068
According to Hays, surgeons earn an average of $406,068 a year and have excellent levels of work satisfaction.
2. Anaesthetist – $388,814
Anaesthetists, like surgeons, play a vital function and earn an average of $388,814 a year, even though there are only about 3500 of them in Australia, according to the ATO.
3. Internal medicine specialist – $310,848
Internal medicine specialists include cardiologists, endocrinologists, neurologists, and paediatricians. They earn an annual salary of $310,848 on average.
4. Psychiatrist – $252,691
Psychiatrists receive an annual salary of $252,691. The federal government has identified the existing scarcity of psychiatrists as a concern by 2030 unless action is taken – and in the meantime, it will just drive-up salaries.
What Are Australia’s Highest Paying Positions Without a Degree?
All of the top jobs we have mentioned demand considerable academic training and qualifications.
The Monarch Institute ranks ICT managers, chemical, gas, petroleum, and power generation plant operators, and ICT sales professionals as the three highest paying jobs in Australia that do not require a university degree.
- Information and communications technology: $170,955
- Operators of chemical, gas, petroleum, and power-producing plants: $168,376
- $157,123 for ICT sales professionals. Account manager and sales representative are examples of speciality roles which garnered the most paid jobs in Australia.
Average Australian Salaries In 2023
According to the Australian Bureau of Statistics, the median full-time worker in Australia made $78,800 in 2022, while the median part-time worker earned $32,400 last year (ABS). The median wage for both categories of employees combined is $65,000. That is, half of all employees in Australia earned more than this, while the other half earned less.
You were in Australia’s top 10% of earners last year if your taxable income was $131,501 or more. The percentage of taxpayers who made more than $180,000 was about 5%. One percent of all income earners made more than $253,066.
When analysing the ‘normal’ wage, averages are less representative than medians since a small number of extremely wealthy individuals skew the results by earning millions or even billions of dollars.
A middle-income home is often made up of a couple with children who live on one full-time salary of roughly $85,000 and one part-time salary of around $30,000 per year. According to an Australian Council of Social Service survey, the middle 20% have a total weekly income of $1,884 ($97,986 annually) (ACOSS).
Frequently Asked Questions
What are the highest paying jobs in Australia?
The highest paying jobs in Australia include roles such as equity partners in law firms, CEOs and managing directors, development directors in the property sector, and heads of treasury in finance. Other well-paid positions are project delivery directors in the renewable energy sector and construction managers.
How much do equity partners in law firms typically earn in Australia?
The average salary for equity partners in prestigious private practices is over $500,000 in locations like Perth, Brisbane, Melbourne, and Sydney, with Sydney leading the list at over $850,000.
What are the typical salaries for technology executives in Australia?
In the technology sector, roles like chief information officers (CIOs) and chief technology officers (CTOs) can earn around $306,000, while project directors earn $260,000, programme managers are on $210,000, and enterprise architects command $230,000.
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