Your guide to top highest paying jobs in Australia

The cost of living crisis is forcing more Aussie workers to make career changes and take on side hustles. See a range of different industries and see where the highest paid roles are.

The cost of living crisis hitting the hip pockets of everyday Australians is forcing more workers to make career switches in a bid to make more cash and land a top paying job.

The 45th Hays Salary Guide, the nation’s largest and most comprehensive report on salary and recruitment trends, has revealed how rising costs and soaring interest rates are prompting workers to quit their jobs in pursuit of a higher salary, with 77 per cent planning to hunt for a new job in the next year.

More Aussies are keen to make a career change due to cost of living woes.

Cost of living pain is also leading to increased demand for pay rises, with 61 per cent of workers pushing for a pay rise of more than three per cent, the report stated.

Others are doing side hustles to make ends meet while some are doing gig economy work to pick up extra cash.

According to figures from the Australian Bureau of Statistics, workers aged between 20 and 24 were most likely to be holding down multiple jobs (7.3 pre cent) with women most likely to be working multiple jobs (7 per cent compared to 6.0 per cent of employed men.

More women are taking on multiple jobs.

“The mismatch between what employees want and what employers are willing to offer will play out over the next year, with almost 40 per cent of employees being dissatisfied with their salaries and 73 per cent saying it doesn’t reflect their individual performance,” Hays CEO APAC, Matthew Dickason said.

It comes after another report revealed executives at some of Australia’s largest companies are landing whopping pay rises as their workers face rising cost-of-living pressures.

The Governance Institute of Australia said the salaries of chief executives rose by 14 per cent in the past financial year while managing directors received an 11 per cent pay rise.

So what are the highest paying jobs in Australia and what is deemed a good salary in these challenging times?

See what some of the highest paying jobs are across industries from Australia:

HIGHEST PAYING ROLES

ACCOUNTANCY AND FINANCE

In accountancy and finance the best paid positions were for senior accountants as financial controllers working generating turnover up to $100m. Those in metro and regional areas of Victoria and NSW earned a typical salary from $280,000-$410,000.The highest paid corporate accountants were paid an average $140,000, a pip above financial accountants and treasury accounts who averaged $135,000 and $120,000, respectively.

BANKING

Personal Bankers enjoyed the highest pay for their work, ranging $250,000-$300,000 based on location. Profits favoured more metropolitan workers, with Sydney bankers taking home $50,000 more than those based in Darwin. Lenders averaged $245,000, Branch Managers sat at $220,000-$230,000 and credit analysts in lending operations at $160,000-$170,000.

CONSTRUCTION

Famous for offering lucrative pay rates at the top of blue collar brackets, construction carried one of the greatest pay disparities in salaries across sectors. Civil construction leading hands have the chance to earn from $200,000-$280,000, and a civil construction foreperson takes home $180,000-$195,000. Local government contracts offered the lowest salaries, with property managers in the sector earning $60,000-$70,000.

DEFENCE

Few of the hired positions in defence carried salaries under six figures. At the highest end were engineering managers who made $250,000-$320,000, while managers in operations and configuration earned $240,000-$250,000 and $200,000-$240,000.

Engineering roles were also highly sought after. Systems, aerospace and avionics engineers made $200,000 on average, leading the sector.

EDUCATION

A typical salary for a school principal in a non-government school would earn between $150,000 to $500,000, while in a government school they would earn between $150,000 and $260,000.

A deputy principal in a non-government school would earn between $140,000 to $240,000 while in a government school they would earn between $152,000 to $185,000.

A teacher in a in a non-government school would earn between $85,000 and $140,000 while a teacher in a would earn between $85,000 and $130,000.

A manager or principal working in Vocational Education and Training would earn between 90,000 and $184,000.

An early childhood Area Manager would earn between $115,000 and $140,000. An Out of School Hours Care (OOSH) Area Manager would earn between $95,000 and $130,000.

ENERGY

Design engineers topped the profits for those working in energy, earning $180,000-$210,000. Careers in the field had a generally lower disparity, never dropping below $75,000.

LEGAL

Legal professionals carried major variance in payrates depending on areas of specialisation. A paralegal could earn an average $78,000-$215,000 depending on their field of work from top tier private practice to in-house legal services.The highest paid senior associates were based in Sydney, earning $250,000 a year.

MINING

Mining beat out construction for the highest maximum and minimum wage rates in blue collar sectors, with a variance from $70,000 to $312,000. At that highest end were registered mine managers in metalliferous mining, compared to safety advisors at the bottom end.

TECHNOLOGY

Top earners in the tech sector include a CISO, or chief information security officer, which a senior-level executive who oversees an organisation’s information, cyber, and technology security. They earn $306,000 in roles in Sydney and regional NSW. In Melbourne and regional Victoria, they earn $290,000. In Qld, SA and Perth they earn $275,000 and in the ACT, Tasmania, and Darwin they can earn $260,000.

A Chief Informaiton Officer (CIO) can earn $255,000 in Sydney but $250,000 in regional NSW, Melbourne, regional Victoria and Brisbane in Qld. In SA they earn $235,000, $230,000 in Perth, Canberra, Hobart and $225,000 in Darwin.

Chief Technology Officers earn $220,000 in NSW, $210,000 in Victoria, $200,000 in Brisbane, Adelaide, Perth, Hobart, Darwin and Canberra.

IT Managers earn the most in Sydney at $165,000, $160,000 in Melbourne, Brisbane, and $155,000 in Adelaide. Perth, Canberra and Hobart all pay $150,000, while Darwin pays $145,000.

For a full report go to the 45th Hays Salary Guide and download a free copy.

WHAT IS A GOOD SALARY IN AUSTRALIA?

The average weekly earnings in Australia for full-time adults was $1,888.80 in November 2023, according to the Bureau of Statistics.

This equates to an annual salary of approximately $98,000 in gross earnings, before tax is deducted.

Canna Campbell, financial expert and founder of SugarMammaTV, said a “good salary” was highly subjective.

Canna Campbell says a good salary is all about work-life balance.

“I think that it’s important that we avoid comparing ourselves to an ambiguous benchmark when stress levels are higher than normal,” she said.

“It is a toxic, dangerous line of thinking because the factors involve vary, like where you live, if you have children, your qualifications and experience and of course your financial responsibilities.

“I believe, a ‘good salary’ is a good salary for you. That is, enough money to allow a healthy work life balance.

“And enough money to cover your needs and leave enough money for some savings or investing, so that you can continuously work on improving your financial future.”

WHAT JOBS PAY $200,000 A YEAR IN AUSTRALIA?

In regional NSW, a financial controller can earn between $250,000 to $315,000 per year, while in Victoria a group financial controller will rake in between $220,000 and $300,000 annually.

In the field of sustainability, a project development director in Victoria can earn between $260,000 and $357,000, while an environmental engineer in NSW can earn up to $200,000.

Mining jobs pay well.

Technology jobs also pay big with a chief information officer in NSW earning between $255000 and $375,0000 per year.

In the area of mining, senior geologists can get paid between $220,000 and $260,000 annually in Queensland and Western Australia while an exploration manager will rake in between $180,000 and $250,000 per year.

WHAT JOBS PAY $150,000 A YEAR IN AUSTRALIA?

Accounting and finance jobs pack a punch when it comes to salary, with a financial controller in Tasmania earning between $145,000 and $225,000 per year. In Victoria, a head of internal audit can earn between $153,000 and $275,000.

In South Australia, a tax manager can earn up to $150,000 a year.

Canna Campbell is a big fan of side hustles.

HOW DO I MAKE A CAREER CHANGE?

Ms Campbell said those wanting to make a career switch should consider their further study options and chat to a careers expert.

“It is a competitive world that we live and work in, so you need to make sure you stand out from the crowd,” she said.

“Speaking to recruitment consultants, updating your resume, enrolling in some additional courses and even taking on some extra freelance or even unpaid projects is only going to add to your skill-set and value.”

WHAT ARE THE BENEFITS OF SIDE HUSTLES?

Finacnial guru Ms Campbell said she was a huge advocate of side hustles.

“I have been doing multiple side hustles for the last eight years, which has helped me build a diversified share portfolio of over $285,000.

“Obviously you need to consider time, costs and tax, but not only can a side hustle help with the cost of living but may also allow you to have some extra money for those things that you previously may have had to cut down or cut out.”

Originally published as Your guide to top highest paying jobs in Australia