It’s probably not a shock to anyone to learn the highest paid jobs in Australia are in the medical field.
Male neurosurgeons reported an average taxable income of $600,153 in the 2015-16 Australian Taxation Office (ATO) statistics.
That’s nearly 10 times the amount the average Australian earns.
ATO data released each year has a bunch of information about the average income for different jobs. Here are some highlights:
- 17 of the top 20 highest paid jobs were in the medical field.
- The highest paid job for women was a financial broker, earning $388,681.
- Masseurs, guides, baggage handlers and artists report some of the lowest average taxable incomes.
Higher education equals highest paid jobs in Australia
The average pay a person gets is usually related to their education level. If you want to earn the big bucks you are going to have to study. A lot.
After high school, a neurosurgeon can spend more than 10 years studying at university and in the workplace to get fully qualified.
Compare that with a job like a retail store manager. The average income is $53,232 and most workers have a high school or certificate level qualifications.
That is not to say that people with less education will never earn a lot, or people with a lot of education will end up in a high paying job.
However research does show there is more growth in jobs that require a university degree, and this will continue in the future.
Explore other options
If uni is not for you, try and boost your qualifications when you can. A Certificate III is always a good place to start, and should set you on the right track to earning a decent weekly wage.
You could also start your own business. SelfStart is a great guide to help you figure out if your business idea is solid, and how to turn that idea into a reality.
When it comes to earnings, more than half of businesses in Australia had an annual turnover of less than $200,000 between 2012 and 2016. Keep in mind that turnover is different to profit. Turnover is the total amount of money coming into a business. What is left after all the bills are paid is the profit. Most small business owners have a yearly taxable income of around $60,000.
Where the best opportunities are
The types of jobs in demand change over time. New technology is invented and people’s tastes and lifestyles change.
Chimney sweep was a common job a hundred years ago. Then we all got electricity or gas and the way we heated our homes changed.
The jobs available where you live can also change, and different regions have higher average salaries than others. Jobs in capital cities usually pay more than jobs in regional areas.
When it comes to states, people working full-time in the Australian Capital Territory earn the most at $1,810 a week, and people in Tasmania earn the least.
You can find out more about what industries are growing and what regions have good job prospects in the Australian Jobs 2018 report.
Once you’ve figured out what you want to do, and where you want to do it, head to the jobactive website and search for jobs all around Australia today.
Images: iStock, giphy, Department of Jobs and Small Business