How to earn a $100k salary quickly, including the industries to aim for

Achieving a six-figure salary within a couple of years of working is possible. Here, experts share their advice on how to do it, and the industries to aim for and avoid.

Earning a six-figure salary – the amount that Gen Zs say they need to live comfortably – is possible within three to five years of entering the jobs market.

But young people must be prepared to put in the work required for such a high salary, with experts advising them to get on the front foot well before it comes time to look for a job.

Work experience and networking will fast-track future salary growth and can be done while still at university or in training, says recruiter Andrew Sullivan, managing director of Sullivan Consulting.

“There’s definitely not a $100,000 salary sitting there for most graduating, first-year-out-of-uni (employees) but down the track? Absolutely, you could be making $100,000,” Sullivan says.

“Most of the time, it should take three years (for workers to earn a six-figure sum) although that really depends on the individual.

“But the ones earning the significant money are the ones that have invested in their careers right from the start.

“If you’re delivering the bare minimum, I don’t think you can expect to be getting $100,000.”

It’s possible to earn a $100,000 within three to five years of entering the jobs market, experts say.

Show me the money

A third of Gen Zs say they need to earn more than $100,000 a year to maintain a comfortable standard of living, exclusive research from freelance marketplace Fiverr reveals.

The average minimum income deemed essential to secure a good quality of life is $87,800, the research finds.

In reality, almost half of Australians aged in their early 20s are paid just $500 to $999 a week, according to Australian Bureau of Statistics figures, translating to an annual salary range of $26,000 to $51,000.

With costs of living weighing heavily, Sullivan understands the desire for young Aussies to maximise their earnings.

He says doctors and those within the IT, defence, space and mining sectors are likely to achieve a six-figure salary the fastest – with some exceptional candidates able to negotiate a $100,000 income straight out of university.

High salaries are also achievable within law and accounting and, to a lesser extent, marketing and communications, although several years of on-the-job experience is necessary, he says.

Nursing and teaching jobs will typically see workers receive much lower rates of pay long-term.

Climbing the career ladder

Those wanting high pay must put in the hard work early on, Sullivan says, completing internships and part-time or casual work in their chosen field while still at university to get the experience that employers desire.

“If you’re coming out of uni with just a little piece of paper, that’s not going to give you the 100K,” he says.

Networking is also important, especially when it comes to future job opportunities, with workers who are prepared to move employers regularly likely to grow their income more quickly.

“Gen Z and Gen Y tend to move (jobs) every two to three years,” Sullivan says.

“And on most occasions, moving jobs to secure another one (with a different employer) will bring a salary increase.”

Business graduate Jordan Carroll was quickly promoted into a six-figure-salary role.

‘It’s not impossible’

Hard work and luck have played a huge role in the career success of 25-year-old business graduate Jordan Carroll.

Carroll started as a teller with Commonwealth Bank and was quickly promoted to market equities and then institutional banking, where his salary, with benefits included, was more than $100,000.

Nearly three years after joining the bank, Carroll quit and now uses his skills and experience to work as a freelance business consultant on Fiverr, where he earns more than $140,000 a year.

“I wouldn’t say to everybody that you can quit your job tomorrow and you can make a lot more (doing freelance) but … it’s not impossible,” says Carroll, who launched his own consultancy firm, LaunchCrew, last year.

“I was lucky but I spent a lot of time … ruminating and researching and looking into (the viability of starting a business).

“I talked to a lot of people about it – a lot of people who have had success (in their own business ventures) and a lot of people who haven’t had success.”

No shortcuts

Freelancing – either full-time or as a side hustle in addition to other paid work – can help grow a substantial income stream, says Fiverr chief marketing officer Matti Yahav.

“Generally speaking, there are no shortcuts to earning more than $100,000 – it takes time and work to build a successful business,” he says.

“(But) an increasing number of companies are becoming aware of the expertise that freelancers can bring – (and that’s) something young entrepreneurs can tap into.”

Yahav says lucrative freelancing ventures include business consultancy, headhunting, dropshipping (order fulfilment), digital marketing, brand design, YouTube content creation and graphic design.

He says a standout profile is key to attracting business and suggests that once momentum grows freelancers charge higher prices for their services.

The percentage of young Aussies who say they need to earn $100,000 to live comfortably

NSW – 37%

Qld – 35%

Vic – 24%

SA – 22%

Australia-wide – 32%

Source: Fiverr

Originally published as How to earn a $100k salary quickly, including the industries to aim for