16 Highest Paying jobs in Australia

Australia, well known for its low rate of poverty, high quality of life, advanced education, attracted many immigrants with great employment opportunities. The highest annual salary in Australia is earned by surgeons which is $406,068 and also reports excellent job satisfaction. In this article, let us have a look at the highest paying jobs in Australia's present job market and the qualifications required to embark on these career pathways.

The 16 highest paying jobs in Australia in 2023 are,

1. Surgeon
2. Chief legal officer (CLO)
3. Anaesthetist
4. Cardiologist
5. General Manager
6. Company Secretary/ Chief Governing officer (CGO)
7. Operations Head/ Chief Operating Officer (COO)
8. Internal Medicine specialist
9. Chief Technology officer (CTO)
10. Investment Director
11. Portfolio Manager
12. Chief Financial Officer (CFO)
13. Chief Compliance officer (CCO)
14. Psychiatrist
15. Financial dealer
16. Marketing Director

Please Note that salary numbers may vary depending on various factors like place of stay (state,urban or rural area), qualification and employee experience in a specific role.
Let’s take a deep dive into the highest paying jobs in Australia.

Table of contents

List of 16 highest paying jobs in Australia in 2023

1.  Surgeon
2. Chief Legal Officer (CLO)
3. Anaesthetist
4. Cardiologist
5.  General Manager/ Project Manager
6. Company Secretary/ Chief Governance officer (CGO)
7. Operations Head/ Chief Operating Officer (COO)
8. Internal Medicine Specialist
9. Chief Technology officer (CTO)
10.  Investment Director
11.  Portfolio Manager
12. Chief Financial Officer (CFO)
13. Chief Compliance officer (CCO)
14. Psychiatrist
15. Financial dealer
16. Marketing Director

Highest paying jobs in Australia that do not require a University degree

Frequently Asked Questions

List of 16 highest paying jobs in Australia in 2023

1. Surgeon

Surgeons are doctors specialised in diagnosing, treating and operating patients suffering from diseases, injuries etc. The chosen specialization, qualification, experience and type of surgery impact one's salary.

Average taxable income: $406,068
Average Take Home Income: $244,549 per year after taxes
Qualification Required: A medical degree from an affiliated university.
Training: 
In the third year of graduation apply for Royal Australasian College of Surgeons’ Surgical Education and Training (SET) program to get trained in surgical specialities like Brain, Cardiovascular, orthopaedic, Neurology etc. which normally takes 5-6 years to complete.

Once the training is completed, you will be accredited to practice as a surgeon

Experience: Practice in a clinical setting for 2 to 3 years.

2. Chief Legal Officer (CLO)

Chief legal officer, sometimes called General counsel, works as a company’s main attorney and a primary source for legal advice. He directly reports to the CEO of the company regarding crucial legal business decisions.

Average taxable income: $400,000
Average Take Home Income: $249,333 per year excluding taxes
Qualification Required:

• Bachelors of Law
• Juris Doctor postgraduate degree

Training:

• Practical Legal Training (PLT) from your territory’s admission authority during undergraduate studies
• Practicing certificate stating 18-24 months of supervised practice at a Law firm from your local law society.

Experience: 7 years of experience in the field of legal department.

3. Anaesthetist

Anaesthetists work alongside surgeons and doctors to inject general or local anaesthetic drugs to prevent patients feeling pain during surgery, diagnostic tests, biopsy etc.

Average taxable income: $388,814
Average Take Home Income: $235,405 after tax deductions
Qualification Required: Graduate with accredited medical degree which takes around 4-6 years

Experience & Training: 

• Five years of specialist training through Fellowship of Australian and New Zealand College of Anaesthetists (FANZCA) vocational training program
• After completing, you are designated as a fully qualified anaesthetist.
• Internship in a clinical setting or accredited hospital for one year. Finish your residency at hospital for one or more years. 

4. Cardiologist

A cardiologist treats medical conditions of the cardiovascular system - the heart and blood vessels including heart attacks, heart defects and infections through tests and surgeries. According to the Medical Board of Australia there were over 1600 physicians registered as cardiologists in Australia in 2021.

Average taxable income: $351,827
Average Take Home Income: $222,838 after taxes
Qualification Required:

• An undergraduate Medical degree or Bachelor of surgery
• Advanced PG in Cardiology

Training:

• Three years full time advanced training in Cardiology.
• Apply for Royal Australasian College of General Practitioners for further training and fellowship. A 6 years of study is required while working as a doctor.

Experience: 2 years work experience in public hospitals to complete your internship and residency.

5. General Manager

Apart from the medical industry, there are plenty of highest paying jobs in Australia for the construction industry as well. General Managers or Project Managers look after company operations including budget allocations, policies, managing vendors, monitoring administration flow and staff etc.

Average taxable income: $350,000
Average Take Home Income: $221,833 excluding taxes
Qualification Required:

• For General Manager career pathway, Bachelor's degree in Business Administration and an advanced degree like MBA.

For Project Manager Career Pathway

• Bachelors in construction management
• Diploma in Project management course (or) double diploma in Building construction management and Project management

Experience & Training: 
Three years of experience in a related role especially in managing people and the entire process, and a PMP certification.

6. Company Secretary/ Chief Governance officer (CGO)

A company secretary also called as chief governance officer drives the organization through legal, administrative and clerical support on matters of compliance and governance.

Average taxable income: $342,500
Average Take Home Income: $217,708 after taxes
Qualification Required:

• Professional qualification in business, law, accounting and public administration
• Diploma and advanced certification in business administration

Experience: 6+ years of Co-Sec (or) legal experience is necessary.

7. Operations Head/ Chief Operating Officer (COO)

Head of operations or chief operating officer working at a mining company oversees the company operations and ensures the efficient use of resources that yields business profits.

Average taxable income: $325,000
Average Take Home Income: $208,083 excluding taxes
Qualification Required:

• Bachelor's degree majoring in Mining or construction management or geotechnical engineering.
• Diploma in project management and leadership programs
• Masters in speciality related to mining and mineral engineering from Australian universities.

Experience: 5+ years of experience with a demonstrated knowledge of the Australian mining industry is required.

8. Internal Medicine Specialist

General Practitioner (GP), also known as Internal medicine specialist diagnoses and treats internal human disorders, diseases with specialised laboratory testing, diagnostic procedures and medical techniques.

Average taxable income: $304,752
Average Take Home Income: $196,947 after taxes
Qualification Required: Postgraduation in medicine and internship at recognised hospital.
Training & Experience:

• Minimum 5 years specialist study and training  concerned division from the Royal Australasian College of Physicians. (ANZSCO skill level 1)
• 2 years of hospital based training. Registration and licensing is necessary.

9. Chief Technology officer (CTO)

CTO’s also called Head of Technology, are in demand due to the boom of Artificial Intelligence and Big data. Their task is to manage the company’s technical aspects and resources thereby ensuring digital readiness.
Average taxable income: $300,000
Average Take Home Income: $194,333 after tax deduction
Qualification Required:

• Bachelor’s and Masters in the field of computer science and Information Technology (IT) holding knowledge about cyber security, Artificial Intelligence (AI), Big data, machine learning, Network architecture, etc.
• Diploma in Applied information technology also creates a career pathway.

Training & Experience:

• Minimum 15 years of experience in the IT industry in different job roles related to the company’s technical strategy. 
• Real world work experience that develops leadership and decision making skills related to industry.

10. Investment Director

Investment directors often named as fund managers analyse market conditions and financial regulations to help their respective clients in earning profits on their financial assets like mutual funds, SIPs, pension schemes etc. . 

Average taxable income: $300,000
Average Take Home Income: $194,333 after tax deduction
Qualification Required:

• Bachelor’s and Masters in the field of accounting, Finance, commerce.
• Diploma or certification majoring in finance also creates a career pathway.

Training & Experience:

• Registration with the Australian Security and Investments Commission is necessary.
• 8+ years of experience is required to reach the senior position.

11. Portfolio Manager

Portfolio Managers work on investment activities and projects related to the IT industry. It is a rewarding career path in stock market and finance as well, if you are interested in it.

Average taxable income: $2,80,000
Average Take Home Income: $183,333 after tax deduction
Qualification Required:

• Bachelor degree in Finance,accounting, commerce, economics or business
• Masters or MBA in finance
• Diploma or certification majoring in finance also creates a career pathway.

Training & Experience:

• Certification and Internship Chartered Financial Analyst (CFA) charterholder.
• Gaining experience in starting career as financial analyst leads to portfolio manager

12. Chief Financial Officer (CFO)

CFOs at the executive level have been one of the highest paying jobs in Australia for a very long time due to flexibilities like early bonuses etc. which raises their earnings. CFOs majorly run the company’s financial activities that include business planning, budgeting, forecasting and negotiations.

Average taxable income: $2,80,000
Average Take Home Income: $183,333 after taxes
Qualification Required:

• Bachelor degree in Finance,accounting, economics or business.
• Complete Masters or MBA in finance (or) pass the certified public accountant (CPA) examination.

Training & Experience: 8-10 years of experience in a senior role at a company with right skills and knowledge leads to a CFO position.

13. Chief Compliance officer (CCO)

CCO also known as head of compliance are responsible for managing organisation’s internal and external compliances, ensuring compliance with laws, audits, policies and regulatory procedures.

Average taxable income: $2,77,500
Average Take Home Income: $181,958 after taxes
Qualification Required:

• Undertaking Bachelor degree in law, Finance, economics
• Certificate IV in Compliance and Risk Management (or) Diploma of Quality Auditing

Training & Experience: 3.5+ years of experience in a senior role at a company related to compliance, risk management, quality auditing

14. Psychiatrist

Psychiatrists are physicians specialising in psychiatry who treat patients suffering from mental disorders. Experience level, Employment duration, location, work type and authority level will determine the pay.

Average salary: $235,558
Qualification Required: 4-6 years Medical degree from an accredited university
Training & Experience:

• 1 year job training in a hospital after degree completion and
• Undertake specialised training from Royal Australasian College of Physicians.(RACP) for 6 years in the field of psychiatry
• Once training is completed, you will be admitted to the fellowship of the Royal Australasian College of physicians (FRACP).
• Become a Registered medical practitioner

15. Financial dealer

Financial dealers analyse market conditions and buy, sell or trade commodities on client’s behalf. They provide information about social trends, government regulations and offer advice to clients about financial markets and trades.

Average taxable income: $275,984
Average Take Home Income: $181,125 after taxes
Qualification Required:

• Undertaking Bachelor degree in Finance, accounting, economics or business
• Apply and get relevant licence from Australian Securities and Investments Commission (ASIC)

Experience: On the job training or At least 5 years of experience is required in addition to the former qualification.

16. Marketing Director

Marketing director, also known as, chief marketing officer is a corporate executive who manages company’s marketing activities (production & campaign implementation).

Average Salary: $220,000
Qualification:

• Bachelor’s degree in marketing (or Digital marketing), communications, advertising or another business-related field 
• MBA or any additional certifications is an added advantage for higher level executive positions

Experience: 5 to 10 years of applicable experience holding familiarity with the creative side of marketing and design. Knowledge related to expense management, profit & loss statements is desirable.

Highest paying jobs in Australia that do not require a University degree

While most of the top paying careers typically demand a degree, there are few exceptions. As per the monarch institute, the three highest paying jobs that don’t require a degree are Information & communications technology(ICT) Managers (average salary $179,955), Operators in chemical, gas, petroleum and power generation plants (average salary $168,376) and ICT sales professionals (average salary $157,123).

Wrapping up

Education, knowledge and experience in your chosen domain are the three consistent factors that make your way towards highest paying jobs in Australia. Whether you are looking for any career path like Medicine, IT, finance or any other domains, Australia offers a competitive pay securing your long term future.

Frequently Asked Questions

1. Which job has highest salary in Australia?

The most in demand profession and highest salary in Australia are surgeons which is around $406,068. Neurosurgeons earn the highest  annual salary at over $600,000. As per the health workforce in Australia, there will be a shortage of 100,000 nurses by 2025 due to the rise of chronic diseases.

2. Which 5 careers are highest paid?

The 5 careers that are highest paid in Australia are

• Surgeon
• General counsel
• Anaesthetist
• Cardiologist
• General Manager/ Project Manager

3. Which skill is in demand in Australia?

The following sectors listed out by Australian Labour Market has most in demand jobs for skilled professionals in Australia in 2023

• Health care and social assistance like Nurses etc.
• Professional, scientific, and Technical services
• Education and training
• Construction