10 highest paying jobs in Australia

As well as releasing data outlining the highest paying postcodes in the country, the Australian Taxation Office has released data revealing the highest paying jobs in Australia for 2022.

As you’ve probably guessed, medical professionals and engineers absolutely dominate the list – with the former getting the first, second, third, fifth and sixth spots; while the latter landed in eighth and ninth. Surprisingly, cybersecurity and risk management (actuarial roles) seem to have slipped out of the Top 10 since the last edition.

Here is a list of high paying jobs you should Most likely consider for monetary reasons if nothing else, according to ATO FY19/20 average income statistics (with FY22/23 income tax rates applied for reference).



RELATED: The companies that pay Australian graduates big (and the ones that don’t)

The highest paying jobs in Australia for 2022 [ATO Rankings]

1. Surgeon

Average taxable income: $406,068
Average net income: $244,549
Number of individuals in Australia: 4,159

Surgeons have held the throne for several years now, raking in an average of $406,068 a year, or around $4,703 a week after tax, as Australia’s highest-paying profession. No mysteries here as to why scalpel jockeys make a lot of money. Lives – and vanity – literally depend on it.

Australia's 10 highest paying jobs right now (2022) - Surgeon

2. Anesthesiologist

Average taxable income: $388,814
Average net income: $235,405
Number of individuals in Australia: 3,509

Given the relationship between their daily duties and those of surgeons, anesthesiologists are a close second, earning an average of $388,814 per year or about $4,527 per week after tax.

These are the 10 highest paying jobs in Australia right now

3. Internal medicine specialists

Average taxable income: $310,848
Average net income: $194,083
Number of individuals in Australia: 9,906

In third place are internal medicine specialists, who earn an average of $310,848 per year or about $3,732 per week after tax.



Now keep in mind that there is quite a bit of diversity within this cohort, ranging from gigs as medical specialists, cardiologists, endocrinologists and neurologists to pediatricians – which means income will vary depending on the additional/specialty practitioner training, i.e. average taxable income for a cardiologist: $464,243 vs average taxable income for an endocrinologist: $257,975.

These are the 10 highest paying jobs in Australia right now

4. Financial concessionaire

Average taxable income: $279,790
Average net income: $177,622
Number of individuals in Australia: 4,754

Breaking away from the medical field, we come to the next highest paying industry: financial services. Financial officers (i.e. brokers) earn an average of $279,790 or about $3,416 per week after tax.

Australia's 10 highest paying jobs right now (2022) - Financial Dealer

5. Psychiatrist

Average taxable income: $252,691
Average net income: $163,260
Number of individuals in Australia: 3,030

Psychiatrists earn an average of $252,691 or about $3,140 per week after tax. Currently, the government is predicting a “significant shortage” of them by 2030. This could perhaps be tackled by raising the average salary of psychiatrists at all levels.

These are the 10 highest paying jobs in Australia right now

6. Other medical practitioners

Average taxable income: $232,903
Average net income: $152,772
Number of individuals in Australia: 28,696

From dermatologists to gynecologists, from pathologists to radiation oncologists, again, we are dealing with a spectrum here. The collective average salary for other physicians is $232,903 or about $2,938 per week after tax.

These are the 10 highest paying jobs in Australia right now

Average taxable income: $189,538
Average net income: $129,789
Number of individuals in Australia: 3,940



Magistrates and other legal professionals earn an average of $189,538 or about $2,496 per week after tax. Like internal medicine specialists and other medical practitioners, the actual outcome will depend on factors such as successful completion of practical legal training after college, but not membership in a local bar or placement in a law firm because – for some strange reason – the ATO chose to include clerks in this category while excluding barristers and notaries.

The 10 highest paying jobs in Australia right now (2022) - Judiciary or other legal professionals

8. Mining Engineer

Average taxable income: $188,083
Average net income: $129,017
Number of individuals in Australia: 9,120

Average mining engineer salary – $188,083 or about $2,481 per week after tax. Different technical aspects of roles within this subset, such as being a Petroleum Mining Engineer, will increase this figure ($196,156 in this specific example).

These are the 10 highest paying jobs in Australia right now

9. Engineering Managers

Average taxable income: $161,514
Average net income: $113,457
Number of individuals in Australia: 25,728

Technical directors earn an average of $161,514 or about $2,182 per week after tax.

These are the 10 highest paying jobs in Australia right now

10. Financial investment advisor or manager

Average taxable income: $155,882
Average net income: $110,021
Number of individuals in Australia: 20,679

Finally, we have financial advisors and financial investment managers. On average, they earn taxable income of $155,882 or about $2,116 per week after tax. Financial advisors take in $119,606 a year, while financial investment managers take in $331,812.

These are the 10 highest paying jobs in Australia right now

Other information courtesy of the ATO…

Average Australian salary by gender and sector

Man

Average weekly earnings: $2,025.20 (Public) | $1,812.30 (Private)
Average salary: $105,310 (public) | $94,240 (Private)



Female

Average weekly earnings: $1,799.30 (public) | $1,504.80 (Private)
Average salary: $93,564 (public) | $78,250 (private)

Average Aussie salary
Average Aussie salary

Average Australian salary by state and territories

  • New South Wales
    Average weekly earnings: $1,848.10 (Male) | $1,627.20 (Female)
    Average salary: $96,101 (Male) | $84,614 (Female)
  • Victoria
    Average weekly earnings: $1,862.40 (Male) | $1,596.60 (Female)
    Average salary: $96,845 (Male) | $83,023 (Female)
  • queensland
    Average weekly earnings: $1,780.20 (Male) | $1,498.50 (Female)
    Average salary: $92,570 (Male) | $77,922 (Female)
  • southern australia
    Average weekly earnings: $1,633.40 (Male) | $1,511.40 (Female)
    Average salary: $84,937 (Male) | $78,592 (Female)
  • Western Australia
    Average weekly earnings: $2,045.90 (Male) | $1,611.60 (Female)
    Average salary: $106,387 (Male) | $83,803 (Female)
  • Tasmania
    Average weekly earnings: $1,596.30 (Male) | $1,450.60 (Female)
    Average salary: $83,008 (Male) | $75,431 (Female)
  • North territory
    Average weekly earnings: $1,795.00 (Male) | $1,579.40 (Female)
    Average salary: $93,3405 (Male) | $82,129 (Female)
  • LAW
    Average weekly earnings: $2,055.10 (Male) | $1,893.60 (Female)
    Average salary: $106,865 (Male) | $98,467 (Female)

RELATED: Australia’s highest-paying postcode has an average income of $325,000

Average Aussie salary

The 5 Highest Paying Australian Industries

Mining

Average weekly earnings: $2,724.90 (Men) | $2,306.30 (Female)
Average salary: $141,695 (Male) | $119,928 (Female)

News media and telecommunications

Average weekly earnings: $2,310.20 (Male) | $1941.00 (Woman)
Average salary: $120,130 (Male) | $100,932 (Female)

Financial and insurance services

Average weekly earnings: $2,333.30 (Male) | $1,852.80 (Female)
Average salary: $121,332 (Male) | $96,345 (Female)

Professional, scientific and technical services

Average weekly earnings: $2,226.90 (Men) | $1,713.50 (Female)
Average salary: $115,799 (Male) | $89,102 (Female)

Electricity, gas, water and waste services

Average weekly earnings: $2,007.60 (Male) | $1,850.80 (Female)
Average salary: $104,395 (Male) | $96,242 (Female)

How much money do you need to be considered rich in Australia?

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