Top 20 Highest Paying Jobs in Melbourne
Almost 95% of Australian adults are now vaccinated and the looming threat of a virus is milder. The country therefore continues to see a much-welcomed soar in its job market. According to economic models, the Australia’s GDP per capita will trend around 5730.00 USD in 2022. The surge is opening doors for professionals all around Australia, and with the many job openings flooding platforms, you’re probably wondering which ones will pay you the most. So, without further ado, behold the list–Top 20 highest paying jobs in Melbourne!
What salary is considered rich in Melbourne?
According to the financial comparison website Finder, “rich” Australians make $326,900 a year. That is an average full-time salary of $90,329 and over five times the mid-point salary of $62,400 for all workers. A recent survey found that the numbers are alluded to the pressures of social media.
What Is the #1 Highest-Paid Position in Melbourne?
Bagging the number one spot on the highest paying jobs in Melbourne list is Surgeon, with A$394,303 per annum salary, nearly 4 times of what the average person in Australia makes per year. This is hardly a shocker given the extensive skill-set and time required to become a surgeon. One needs to get a bachelor’s degree, take the Medical College Admission Test, excel in medical school, pass a licensure exam, undergo a surgical residency, and finally, get state licensed to qualify as a surgeon. That’s years of hard work and definitely deserving of the highest-paying job title.
But that’s not to say that if you’re not enrolled in med school at the moment, your career won’t let you afford your dream car. Here’s a list of the top 20 highest paying jobs in Melbourne, supplemented by data from the ATO, to help you decide your direction.
20. Systems Engineer: Average Annual Salary: A$124,628
19. Information Technology Security Specialist: Average Annual Salary: A$125,932
18. Engineering Manager: Average Annual Salary: A$137,530
17. Marketing Director: Average Annual Salary: A$142,000
16. Pilot: Average Annual Salary: A$157,940
15. CEO or Managing Director: Average Annual Salary: A$164,896
14. College Professor: Average Annual Salary: A$189,507
13. Medical Practitioner: Average Annual Salary: A$222,933
12. Psychiatrist: Average Annual Salary: A$235,558
11. Bank Manager: Average Annual Salary: A$277,500
10. Information Technology Portfolio Manager: Average Annual Salary: A$280,000
9. Chief Financial Officer: Average Annual Salary: A$280,000
8. Head of Technology: Average Annual Salary: A$300,000
7. Investment Director: Average Annual Salary: A$300,000
6. Internal Medical Specialist: Average Annual Salary: A$304,752
5. Mining Head of Operations: Average Annual Salary: A$325,000
4. Legal Secretary: Average Annual Salary: A$342,000
3. Construction General Manager: Average Annual Salary: A$350,000
2. Anaesthetist: Average Annual Salary: A$386,065
Top 5 Highest Paying Industries in Melbourne
Whether you’re fresh out of college or looking for a change in career path, you probably want to know where the fattest pay checks come from before you jump into unchartered waters with both feet. Let’s be honest, with a cost of living 13.7% higher than most countries, it’s only reasonable that you’d want to venture into something that not only satisfies your soul but also proves to be lucrative. Here are the top 5 highest paying industries in Melbourne with some of the best paying jobs.
This industry includes occupations that deal with the extraction and processing of minerals from the Earth, or those that deal with the production and sale of energy. Australia’s mining industry is a pillar of its economy, with the country being one of the world’s largest exporters of coal, iron ore, bauxite, alumina, and many other resources. Therefore, it’s hardly a surprise to see this industry at the top of our list.
Top 3 Job Titles and Salaries
- Driller: Average salary A$80K to A$200K
- Mining Engineer: Average salary A$184,507
- Mining Head of Operations: Average salary A$325K
Job prospects: The outlook of the industry is bright in recent years with renewed demand for traditional commodities, such as copper, lithium, nickel, and gold, as well as an emerging market for certain rare earth metals.
Consulting & Strategy is second up on the list, providing some of the highest paying jobs in Melbourne. Strategists and consultants analyze a company’s business practices and goals and make suggestions that improve its direction. They suggest strategies including cutting costs, increasing revenue, making critical decisions, and helping companies define their market or identify trends within specific markets.
Top 3 Job Titles and Salaries
- Management Consultant: Average salary A$94,856
- Financial Consultant: Average salary A$108,076
- Legal Consultant: Average salary A$109,000
Job prospects: Small as well as big businesses in as well as outside Australia are perennially in need of skilled consultants. Businesses and government bring them on board for advisory services when problems of extraordinary natures arise. While traditional consulting firms continue to recruit skilled workers, freelance and transactional-style consulting services are becoming more popular by the day as well.
Number 3 on our list, the construction industry is home to approximately 397,642 businesses with market size of $424bn. Most firms are centered around projects in civil engineering and irrigation. They construct sewage, water, and gas infrastructure, in addition to carrying out repairs and renovations, preparing mine sites, and installing utilities.
Top 3 Job Titles and Salaries
- Scaffolder: Average Salary A$94,603
- General Foreman: Average Salary A$158,005
- Construction General Manager: Average Salary A$350,000
Job prospects: If general construction, construction trade services, installation trade services residential or non-residential construction interests you, then you can think about venturing into the construction industry. The industry performance is forecast to gradually increase over the next five years, supported by robust growth in non-building infrastructure markets, recovering demand for some building markets, and improved opportunities for some specialized construction trades.
Industrial engineering, mechanical engineering, civil engineering… the list goes on. Yes, you have an array of fields to choose from if you’re thinking of this industry. Australia has long had a reputation as a nation of possibilities for engineers. Engineering professions are in high demand since the surge seen in 2017.
Top 3 Job Titles and Salaries
- Civil Engineer: Average Salary A$100,000 to A$120,000
- Electrical Engineer: Average Salary A$75,000 to A$152,580
- Petroleum Engineer: Average Salary A$66,000 to A$194,000
Job prospects: The overall trend has been towards the creation of new jobs in engineering. The majority of the firms continue to run graduate programs designed to recruit talented engineers and prepare them for stable careers. The industry thus continues to be of the most stable ones in 2022, and can be safely ventured into.
The health care industry is home to companies that provide clinical services and use medical-related equipment. Under its umbrella, one can find a plethora of careers to choose from. Surgeons, medical assistants, home health aides, and many more. In the light of the pandemic, it has become more certain than ever that the industry is one to bank on and is unlikely to ever go out of business. The sector has a withstanding long-term record. Over the past five years, the ASX 200 healthcare index has gained an eye-popping 121%.
Top 3 Job Titles and Salaries
- Internal Medicine Specialist: A$304,752
- Anesthetist: Average salary A$386,065
- Surgeon: Average salary A$394,303
Job Prospects: Agreed, the last couple of years may not have been ideal for the rise of this industry. But besides the hits taken by Covid-19, the healthcare sector has a long-standing history of being one of the highest paying industries in Australia and still boasts of the highest paying job in the market. In fact, the pandemic has reminded most how important the industry is. Medicine is still one of the most sought-after careers and is not likely to be a disappointment in terms of job opportunities.
Top 5 Highest Paying Jobs in Melbourne for Fresh Graduates
Most industries do not lead to overnight success. Your rise to the top will take time. But that doesn’t mean that you should expect to be paid peanuts as a fresh graduate entering the workforce. It’s possible to be a fresh graduate and still get a return on your investment straight away. You read that right! Some industries will offer a high-paying jobs to fresh graduates, and we have a list of them for you right here.
If the space and its mysteries are exhilarating to you, and you might consider a career as an aerospace engineer. As a fresh graduate, with only a degree in Aerospace Engineering, you can expect an entrylevel job starting at A$83,882. The industry needs more engineers and is willing to pay them what they’re worth. Boeing’s recent study revealed a consistent growth in global passenger numbers (about 6.2 percent per annum). With the rising popularity of low-cost carriers and strong consumer demand, global airlines can expect to add some 49,000 new aircraft to their fleets by 2040. This means, there’s no paucity of job openings and the future looks decidedly promising.
You can definitely bring home decent bucks as soon as you graduate from dental school. Expect to rake in an average starting salary of A$86,300. After the first two years, your salary can jump A$124,000. However, it would fare well to remember that it takes between six and eight years to become a dentist. The route may differ if you are focussed on a specialization. Specializations like becoming an oral surgeon or periodontist will require additional training and education. A combined educational program is available for those who do not wish to specialize as well, which also reduces the time taken to start practicing.
The long years put into the academic pursuit definitely bear fruit once one obtains a license to start practicing. The industry is also not one to deteriorate drastically since people will invariably need a trained professional to help their dental woes.
To pursue a career in medicine, you need to graduate with a bachelor’s degree, and then complete a four-year postgraduate medical program. To be fully registered, you’ll be required to complete an intern year. This will open an avenue of healthcare jobs to choose from for you with an entry-level job paying as much as A$70,000.
Your medical degree, even if you do not pursue a residency, is bound to be lucrative. The sheer volume and variety of positions in healthcare will enable you to choose a role that is to your liking in an industry which is not likely to see a decline.
Freshly graduated solicitors can earn as much as A$98,396 in an entry-level job. Pathways to becoming a practicing lawyer typically require 5-6 years of combined education and training.
The future of budding lawyers is steadfast for the Graduate Careers Australia in a recent survey revealed that 74 percent of Australian law school graduates secure a full-time job within four months of graduation, which is higher than the national average for graduate employment which is 69 percent.
Last but not the least, construction managers, with an estimated A$99,386 for entry-level jobs.
The Australian construction industry is proposed to reflect a real average annual growth of 3.4% between 2022 and 2025, supported by construction works on the considerable pipelines of public infrastructure projects. As part of its fiscal year (FY) 2021/2022 (July 2021-June 2022) Budget, released in May 2021, the Australian government reported an additional investment of AUD15.2 billion (US$11.8 billion) in infrastructure efforts over the next 10 years. This steep upturn brings the Australian government’s 10-year infrastructure pipeline to a total investment of AUD110 billion (US$74.7 billion), which automatically indicates that an upsurge in the demand for construction workers can be expected.
What Degree Pays the Most in Melbourne?
Choosing your career path starts with choosing the academic pursuit connected to it. The right degree can open hundreds of doors for you. Not to say that there are wrong ones out there, but there will be some better suited to help you land your dream job and land the highest-paid positions in Melbourne.
Here’s a quick look at degrees that lead up to high-paying jobs in Melbourne.
Degree type | Potential Salary |
Construction Management | A$99,386 |
Law | A$98,396 |
MBA | A$83,500 |
Engineering | A$83,882 |
Medical/Dental | A$70,000. |
While these are some of the most lucrative degrees to pursue, they’re definitely not the only ones leading up to high-paying jobs. There are plenty of other options which you can look into and land a job that more than just pays your bills. If you’re hunting for one, it might be worth paying heed to a few tips.
- Create a thorough job search plan – Don’t simply apply for every job that minutely matches your qualifications. Gather as much information as possible about the recruitment process and carefully screen the ones that match your skillset and qualifications.
- Networking is key – Build your network and reach out to others in the industry through platforms meant for professional networking, such as LinkedIn. If you are able to strike a rapport with an employee of the company, you might have a shot at getting your resume pushed up the stack.
- Build your skillset – Employers value extra-curricular participation. Get involved with local charities and put in some volunteer work.
- Upskill – If you’ve been out of the workforce for a bit and are jumping back in, or switching lanes, add to your skillset by picking up courses to come up to date with existing trends. You can also invest in courses that put you ahead of the curve and present you as a desirable candidate.
There! You’re now fully armed and equipped with all the ammo you need to make a career choice that lands you one of the highest-paying jobs in Melbourne.
