Money should not be the prime motivator when choosing a career, but let’s be honest – we all want to know how much will earn when taking on a new job. The most recent set of income statistics from the Australian Tax Office (ATO) give insight into who is earning what by revealing the country’s top 10 highest paying jobs according to their average taxable income.
There are no real surprises when it comes to these highest paying job figures. Industries such as medicine, finance and engineering dominate the top 10, while executive management occupations also feature quite prominently. While it is easy to look at such figures and consider a 360 degree career switch to another field, it is important to acknowledge that there are always exceptions to the rule within each industry. Also, remember that not everything that is good about a job or career is quantifiable – your profession may offer an enviable work/life balance that allows you to spend more time with your family and friends, which could be non-existent for workers in these higher paying professions.
Without further ado, let’s see who is among Australia’s top earners
Nearly 4,000 Australians work in this profession, and they top the earnings bracket with an average taxable income of $394,866. Find out more about becoming a surgeon here.
There are over 3,000 anaesthetists nationwide, and they earn an average taxable wage of $367,343.
3. Internal Medicine Specialists
Over 8,500 employees in this occupation earn approximately $299,378 each year.
4. Financial Dealers
Roughly 4,500 Australians work as financial dealers, and they earn an approximate taxable income of $261,008.
There are approximately 2,800 employees in Australia, who earn an average taxable income of $216,075.
6. Other Medical Practitioners
This profession employs over 28,000 Australians, who earn approximately $204,387. Find out more about becoming a medical practitioner here.
7. Judicial and Other Legal Professionals
The legal industry is just over 3,500 strong in Australia, and workers in this cluster of professions earn an average taxable income of $195,703. Find out more about careers in law here.
8. Mining Engineers
Australia is home to over 8,000 mining engineers, who earn a taxable wage of $167,345. Find out more about becoming a mining engineer here.
9. CEO and Managing Directors
There are over 174,000 workers in the higher echelons of executive management, who earn an average income of $157,643.
10. Engineering Managers
There are over 25,000 engineering managers in Australia, and they earn an average taxable income of $147,451.
To find out more about Australians’ income characteristics, such as the country’s highest-earning postcodes, head to the ATO’s Taxation statistics web page. Find out more about becoming an engineering manager here.