The Australian Taxation Office (ATO) has unveiled the highest-paying jobs in the country, providing key insights into the income distribution across various professions. According to tax return data for the 2022-2023 financial year, medical professionals dominate the list, with surgeons and anaesthetists leading the way. However, financial dealers and CEOs are also among the highest earners, reflecting the diversity in Australia’s top professions.
This data highlights the increasing earning potential for individuals working in specialized roles, particularly in the medical and financial sectors. For those interested in career development, understanding which sectors offer the highest salaries can provide valuable guidance in choosing future career paths.
Surgeons and Anaesthetists: Leading the Pack
Surgeons are the highest earners in Australia, with an average annual salary of $472,475 for the 2022-2023 financial year. This figure represents more than six times the national average taxable income, which is $74,240. Despite the high income, the number of surgeons in Australia is limited, with just 4,247 surgeons across the country. The demand for these highly skilled professionals ensures that they remain among the top earners in the nation.
Following closely behind surgeons are anaesthetists, who earn an average of $447,193 per year. There are just 3,658 anaesthetists in Australia, making it a highly specialized field. The substantial salary reflects the critical role anaesthetists play in surgeries, providing pain relief and monitoring patients during operations. The high income for anaesthetists, alongside the limited number of professionals in the field, reinforces the financial rewards associated with specialized medical careers.
Financial Dealers: High Earnings in the Financial Sector
Financial dealers, including stockbrokers and other market professionals, are the highest-paid non-medical workers in Australia. In 2022-2023, the average salary for financial dealers was $355,233 annually. While there was a $18,500 decrease in earnings compared to the previous year, financial dealers remain one of the most lucrative roles in the country. Their work in conducting transactions and managing investments plays a significant role in Australia’s financial markets.
The profession’s financial rewards come with the responsibility of managing large amounts of money and making critical decisions that impact clients’ investments. Despite the decrease in average earnings, financial dealers continue to benefit from the demand for their services, particularly in a global financial market that offers ample opportunities for high earnings. The role requires a deep understanding of financial markets and the ability to navigate complex investment strategies.
CEOs and Managing Directors: Widespread High Earnings
Chief executive officers (CEOs) and managing directors occupy one of the highest-paying roles in Australia, with an average income of $194,987 annually. This role is especially notable for the number of individuals employed in the sector—there are 231,103 CEOs and managing directors in the country. The position offers significant financial rewards but is more common than other high-paying jobs, making it accessible to a broader group of professionals.
The high number of individuals in this position reflects the essential role CEOs and managing directors play in steering companies and organizations. Despite the large pool of individuals in these roles, the salary remains well above the national average, underscoring the value placed on leadership and strategic decision-making in Australian businesses. The scale of companies managed by these individuals often dictates the substantial pay they receive for their responsibilities.
Other High-Paying Professions: Doctors, Engineers, and Legal Experts
Beyond the top roles in surgery and finance, several other professions are highly compensated, with doctors, engineers, and legal professionals also ranking among Australia’s highest earners. Internal medicine specialists earned an average salary of $342,457, while psychiatrists made $286,146 annually. These roles demonstrate the ongoing demand for medical expertise, particularly in specialized areas of healthcare.
Legal professionals, including judges and lawyers, also earn significant salaries. Judicial professionals earned an average of $206,408, while mining engineers saw an average salary of $206,423. Although the mining sector experienced a slight dip in earnings, with a decrease of $7,942 from the previous year, the profession remains well-paid due to the critical need for skilled engineers in Australia’s mining industry.
