The highest paying industries in Australia have been revealed. And the shift from only five years ago may surprise you.
The impact of COVID, the lowest unemployment rate in 48 years, a vast drop in immigration, inflation growth and wage stagnation … all these issues have converged over the past couple of years, to create a job market and economy, the likes of which we haven’t seen before.
Yet despite this, many job categories are experiencing significant wage growth. Employers, desperate to attract talent to fill vacancies – especially in high-demand industries – are throwing a broad array of incentives to find the right people.
Today, we’re taking a look at the better-paying jobs and the highest-paying industries in Australia.
Healthcare
Australia is ranked in the top 10 of the world’s best healthcare systems. And if the last two years have taught us anything, a robust healthcare system is more important to a nation’s economy, than anything. According to the ATO, Australia’s healthcare professionals are amongst the nation’s top earners. Here’s a snapshot of the salaries (these are average taxable incomes):
Surgeons: $400k
Anaesthetists: $360k
Internal Medical Specialists: $300k
Psychiatrists: $210k
Other medical practitioners: $210k
ICT (Information, Communication, Technology)
ICT industries are booming, both here in Australia and across the globe. So ICT is firmly placed in the highest paying industries in Australia. And COVID has accelerated this growth, with sub-sectors booming like eCommerce. And given the rise of hybrid working over the past two years, the need for better connectivity, cloud services and technical infrastructure to support a dispersed workforce, has exploded. The average taxable salaries in the ICT space are provided below:
ICT Systems Architect: $200k
ICT Manager: $190k
IT Security Architect: $170k
Enterprise Architecture Manager: $170K
Cloud Engineer: $165k
Engineering Managers: $145k
Financial Services:
This is a sector that has consistently ranked in the highest paying industries in Australia. All categories of jobs in accounting, finance and financial services continue to enjoy some of the highest salaries in the nation as well as strong wage growth. This industry is a staple for high earners. The average taxable salaries in financial services are:
Head of Treasury: $400k
Banking – State Manager: $300k
Chief Financial Officer: $280k
M&A Investment Bank Vice President: $260k
Investment Director Private Equity: $260k
Auditor: $170k
Financial Investment Advisor: $155k
Mining and Resources
The mining industry continues to offer some of the best salaries in the country. Despite the political landscape increasingly looking to renewables, we’re still drilling and exporting our natural resources in Australia. The average taxable salaries in the mining and resources sector are:
Open-cut Miners (above ground): $100-$200k
Haul Truck and Mine Machinery Operators: $85-$200k
Drillers: $85-$200k
Mine Site Electricians: $90-$180k
Exploration Geologist: $90-$200k
Geophysicist: $180-$200k
Mine Geologist: $120-$150k
Resource Geologist: $150-$180k
GIS Technician: $95-$100k
Chemical Engineer/Metallurgist: $160-$180k
Mining Engineer: $180k
Other Salaries and Industries
The additional salaries worth noting in Australia today are a broad mix of professions and skills. Here are the taxable salaries and jobs for other industries worth noting:
| Industry | Role | Salary |
| Education | Principal (non-Government School) | $400k |
| Property and Construction | Development Director | $388k |
| Construction | General Manager/Project Manager | $350k |
| Corporate | Operations | $325k |
| Corporate | Fund Manager/Investment Director | $300k |
| Marketing & Digital | Executive Director of Communications | $300k |
| Human Resources | Head of HR/HR Director | $300k |
| Corporate | Head of Compliance | $277k |
| Engineering | Project Manager | $255k |
| Sales | Sales Director | $250k |
| Education | Principal (Government School) | $208k |
| Insurance | Head of Claims | $200k |
| Customer Service | Contact Centre: Director of Customer Service | $200k |
| Logistics | Supply Chain Director | $200 |
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