We’ve seen some significant changes across the ways we work here in Australia, thanks to the acceleration of some work formats due to COVID-19. More people are working remotely or in hybrid/flexible work arrangements, and the gig economy is booming.
Some industries have experienced significant increases in opportunity in recent years, and according to the Australian Bureau of Statistics, unemployment rates fell to 4.6% towards the end of 2021 – all positive things that will hopefully inspire and motivate many young people about their future careers.
While there are LOTS of different aspects that make up a remarkable career that fulfils and motivates you, there’s no denying it: earning a decent salary is a top priority for many!
On that note – what are the top-paying industries in Australia? Let’s find out.
5 Highest Paid Industries in Australia Right Now
Salaries vary based on a few different variables, including:
- The state you live in.
- Your role seniority.
- Your professional qualifications.
- The length of time you’ve been with a particular company or within a specific role.
Taking all that into account, some stand-out industries tend to pay higher salaries than others.
Below are the top five to help give you a better idea of where you might want to put your career efforts if earning a higher income is a top priority for you:
1. Legal & Law
Professionals in the legal and law industry provide advice, guidance, and representations across different areas of society and the justice system, supporting individuals, groups, and organizations. According to recruitment leaders Michael Page, experienced general counsel roles at ASX100 companies took the title of the highest paying job in Australia with an average salary of $437,500 per year.
Legal practitioners can work across government, public and private sectors and need to be highly knowledgeable about the areas of law and the legal system they work within. They might offer in-house consultancy services or work for private practices, representing a portfolio of clients.
Some of the highest-paid roles in the industry include:
- Lawyer
- General Counsel
- Mediator
- Litigation Lawyer
Why not explore some of our excellent employers offering careers in law, like Ashhurst?
2. Energy & Mining
The energy and mining industry is HUGE, covering everything from oil, natural gas, and coal, and a wide range of renewable energy sources such as hydroelectric dams, biomass, wind, geothermal, and solar. Michael Page reports Head of operations roles in the Mining, Energy, and Resources industry are paid pretty highly, with an average salary of $325,000 annually.
The industry includes organizations producing or supplying all forms of energy, managing energy sources, and delivering across a wide range of commercial and residential homes. The energy industry has been an essential driver of industrial growth over the past century, providing power to the rest of the economy.
Roles range from entry to highly specialized. Highest paying roles include:
- Petroleum Engineer
- Chemical Engineer
- Atmospheric Scientist
- Power Plant Operator
- Nuclear Technician
Why not explore some fantastic energy and mining employers, such as Newcrest, APA Group, and Minerals Council of Australia?
3. Financial Services
The financial services industry includes banking, investment, advisory, insurance, accounting and tax, foreign exchange, and stock exchange. It makes sense that the industry focused on money and finances would also pay the most – people like to ensure their financial assets and portfolios are well looked after!
You could work with retail, personal and commercial customers, and there’s a wide variety of ways to get started in the industry. Some of the highest-paid job titles include:
- Portfolio Manager
- Corporate Finance Manager
- Investment Banker
- Economic Analyst
Why not explore some of our excellent employers offering careers in financial services, such as RSM Australia, PWC, EY, and Findex?
4. Marketing & Public Relations
Marketing is vital for every industry. Many companies rely on marketing activities to help promote and get the word out about what they do, how they can help, and why potential clients/customers should engage with them. Marketing exists across both the profit and non-profit sectors, with various ways to get involved.
Marketing services are always in demand as it forms such an essential part of growing the reach of various businesses. As such, it can be a highly rewarding career for financial compensation.
Some of the highest-paid job titles include:
- Senior Marketing Executive
- CRM Manager
- Social Media Manager
- Marketing Executive
- SEO/PPC Manager
5. Healthcare & Medicine
The healthcare and medicine industry covers private and public medical facilities and organizations, including surgery and mental health services. The wide range of the industry means there is a wide variety of pay and salaries across the various subsectors.
Many healthcare and medical roles require educational qualifications in specific medical fields to enable professionals to train and work in different health fields. Due to the specialist nature of many medical positions, the salaries can reflect individuals’ commitment to secure their professional status and roles.
Some of the highest-paid job titles include:
- Cardiologists
- Oral Surgeons
- Emergency Physicians
- Radiographers
- Surgeons
Why not explore some of our fantastic healthcare and medical employers, including Peter Mac, Life Without Barriers, Australian Unity, and many more!
What Else Should You Consider When Choosing a Career?
Your salary is essential, but many other factors make up a rewarding career. Other things you should consider when choosing a career path include:
- Growth Opportunities: Pick a career that provides opportunities to keep growing professionally. Whether moving up into leadership roles or chances to learn more and improve through professional training and qualifications. A career that helps you grow will never be boring.
- Job Outlook: What does the industry’s future look like, and how will your job change in future years? Are you prepared to upskill or change roles to meet these changes? The overall outlook of an industry can help you prepare for what’s to come and set yourself up for success.
- Your Passions: Picking a career in an industry that gets you excited and motivated to go to work every day should play just as important a role in what you choose as how much you’ll earn. Think about what you love doing and explore different ways to pursue this through your work.
Above all, remember that it’s never too late to change your career ideas and go after something new.
If you want to see where your career could take you, check out Employer Profiles to explore some of the leading companies you can get started with.
