The 10 Highest Paying Jobs In Australia [UPDATE]

The 10 Highest Paying Jobs In Australia [UPDATE]
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Australia’s Taxation Statistics report presents an overview of Australia’s income tax returns over the past financial year, including for individuals.

From this data, it’s possible to get a snapshot of the highest paid jobs in the country. We recently received an update from the ATO on the release of the most recent report for 2018/19.

If you’re looking for a sneak peek, allow us to help. Here’s a list of the top-ten paying jobs in Australia, along with the top ten highest-earning postcodes in the country.

Which are the highest paying jobs in Australia?

If you had to guess the highest paid profession in Australia, you’d probably plump for a position in the mining or financial sectors. Nope. It turns out that the highest taxable income comes from surgeons. On average, surgeons make $394,303 in taxable income per year.

Interestingly, however, this figure has gone down since the 2017/18 report. The same goes for the average taxable income of chief executive officers or managing directors.

None of the job titles on the list changed over the year, nor did they shift position.

Here’s the full list for you:

  1. Surgeon – $394,303 (down from $402,582 in 2017/18)
  2. Anaesthetist – $386,065 (up from $382,674 in 2017/18)
  3. Internal medicine specialist – $304,752 (up from $301,129 in 2017/18)
  4. Financial dealer – $275,984 (up from $272,895 in 2017/18)
  5. Psychiatrist – $235,558 (up from $225,206 in 2017/18)
  6. Other medical practitioners – $222,933 (up from $215,728 in 2017/18)
  7. Judicial or other legal professionals – $188,798 (up from $184,958 in 2017/18)
  8. Mining engineer – $184,507 (up from $179,288 in 2017/18)
  9. Chief executive officer or managing director – $164,896 (down from $170,336 in 2017/18)
  10. Engineering manager – $159,940 (up from $156,015 in 2017/18)

If you’d like to take a deeper look at this, you can see the full breakdown in table form, here.

The ATO also has a list of the top 10 earning postcodes across Australia (according to average taxable income). Those include:

  1. 2028, NSW – $202,598 (down from $242,428 in 2017/18)
  2. 3142, VIC – $201,926 (up from third place at $196,816 in 2017/18)
  3. 2027, NSW – $199,813 (up from $198,828 in 2017/18)
  4. 2030, NSW – $197,886 (up from $181,954 in 2017/18)
  5. 2025, NSW – $183,418 (not on the list in 2017/18)
  6. 6011, WA – $179,376 (up from $167,090 in 2017/18)
  7. 3944, VIC – $175,356 (not on the list in 2017/18)
  8. 2023, NSW – $173,278 (down from $193,440 in 2017/18)
  9. 2088, NSW – $171,135 (up from $171,904 in 2017/18)
  10. 2063, NSW – $168,891 (down from $169,142 in 2017/18)

For comparison’s sake, you can check out the 2017/18 data here.

If that’s making you feel inspired to build on your financial literacy, take a peek at this list of money-focused books that should help. In addition to that, you can read up on the best ways to ask for a pay rise. Check that one out here.

This article has been updated since its original publish date.

Comments

  • Shame in the Medical professionals and their Associations. We are missing the external specialist doctors at 3.2 million, if the above is not bad enough.

    Something is wrong Australia. Why are all top fields are medical?
    Why a trip to the unethical Specialists cost so much?
    Why to we keep blaming the insurance companies?
    Why do we want to change MediCare?

    Think about all that and you might think the our Government needs to control the fees our unethical medical specialise charge.

    • I drive a forklift for a major transport company. Every year since started, take-home pay has increased (but working crazy huge hours).

      Last financial year, was roughly $148,000 (before tax).

      Happy since doesn’t involve FIFO or time away from family.
      But does mean working 6 days a week 🙁

  • As per article “taxable income”…. highlighting that certain ppl are able to minimise/hide their payable tax.

    Don’t forget to add the PM of AU … $549,150 (as of 2019).

    If we then look into the corporate world of CEO’s/etc… Then, your list quickly becomes irrelevant.

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