Top 10 Highest Paid Professions 2021 – Australia

Australia has always welcomed migrant workers and offers attractive opportunities to make a career. Many migrant workers apply for working visas every year. The best method to look for employment and secure a work visa is to apply through the Skilled Migration program.

Every year, the Australian government sets the migration planning levels and fixes a certain number of places under each migration program. The highest number of places is allocated to the Skilled Stream category which has a total of 79,600 immigration places for 2020-21.

Under this program, occupations in demand are listed in the Skilled Occupation List (SOL).

The SOL is updated regularly by the Department of Home Affairs (DOHA) and the current list has more than 200 occupations. This list is updated regularly and will help you find out if your skills are in demand and discover your chances of landing a job in Australia.

Here is the list of the top 10 highest paying professions in Australia.

1. General Counsel

The chief lawyer of a legal department is a General Counsel, usually within a business or government department. General counsellors will expect to earn around $438,000 a year after developing around seven years of experience if they work in-house at ASX 100-listed businesses.

 Professional requirements

• Complete Practical Legal Training (PLT).
• Complete an undergraduate degree in Law or a postgraduate degree in Juris Doctor.
• Gain admission within five years of graduation from the Admissions Authority of your relevant state or territory.
• Register for the local Law Society Practicing Certificate.
• Full 18-24 months of practice at a law firm with supervision.

2. Anesthetist

As part of a surgical team, anesthetists work to prescribe general or local anesthetic to patients.

For an anesthetist, the median salary is an incredible $385,242, which means that half of all anesthetists currently make more than that.

 Professional requirements

• Graduate with a medical degree, generally 4-6 years in length.
• Complete an internship at a hospital with accreditation.
• Complete your residency at a hospital with accreditation.
• Take five years of specialized training with the College of Anesthetists of Australia and New Zealand.

3. Surgeons

For a number of conditions, surgeons carry out preoperative diagnosis, procedures and postoperative treatments. Before joining a specialty, all surgeons have to start out as a general surgeon if they want to.

General Surgeons have a salary of $320,186 on average. Neurosurgeons, however, have an annual salary of $600,3877 on average.

Professional requirements

• Complete a medical degree, followed by 2-3 years of experience in a clinical setting
• In your third year, apply to join the Royal Australasian College of Surgeons’ Surgical Education and Training (SET) program.
• If you would like to practice separately, become a Fellow of the Royal Australasian College of Surgeons (FRACS).
• From cardiovascular and plastic surgery, you can theoretically select a specialization.

4. Chief Technology Officer

Driven by the growth of big data, the emergence of AI, and the challenges raised by COVID-19, the technology sector continues to prosper.

The role of CTOs is to handle an organization’s technical aspects and resources, to work for technological growth and to ensure digital readiness.

Professional requirements

• Bachelor’s Degree or higher in a computer science-related area, with an emphasis on cybersecurity, big data and AI
• Gain work experience in fields such as network architecture, management of information security, and big data engineering.
• Usually, CTOs have 15 years of experience in other IT positions until they are entrusted to lead the technology strategy of an entire enterprise.
• Build business, leadership and decision-making skills.

5. Sales directors

The big bucks are steadily won year after year by Sales Directors. In particular, in other sectors, sales directors in the consumer, technology and telecommunications, pharma and medical device industries are likely to receive more than their counterparts.

Sales Directors have a base salary of $260,000, ranging from $50,000-150,000 a year with future incentives! It is also possible without a tertiary degree to become a Sales Manager, making it one of the highest-paying non-degree jobs.

Professional requirements

• Gain experience as a Sales Consultant and then a Sales Manager, improve your abilities and take on more responsibilities gradually.
• If you are working in a specialist field, get qualifications.

6. Chief Financial Officer

The average base salary for this role is $350,000, but can up to an incredible $450,000 with bonuses.

CFOs are responsible for managing the financial activities of an organization, including tracking cash flow, financial planning and analyzing company strengths and weaknesses.

Professional requirements

• Complete a Bachelor’s Degree in business, economics, finance or accounting.
• Complete the test for a Certified Public Accountant (CPA) or a Master of Business Administration (MBA).
• Gain experience in leadership inside a company’s financial department. If you work with a small or medium-sized corporation, it is possible to become a CFO within 10 years, but if you are with a big organization, it will take longer.

7. Internal Medicine Specialist

Often referred to as a General Practitioner (GP), a wide variety of diseases and ailments are treated by these medical practitioners.

For Internal Medicine specialists, the total salary is $268,247 a year.

Professional requirements

• Together with a postgraduate qualification such as a Doctor of Medicine, you are required to complete an undergraduate medical degree or a relevant Bachelor’s Degree.
• Complete an internship at a hospital
• Get licensed with Australia’s medical board.
• Obtain a GP fellowship with the Royal Australian College of General Practitioners (RACGP) or the Rural and Remote Medicine College of Australia (ACRRM).

8. Investment Strategist or Director

Investment Strategists or Directors enjoy a median base salary of $250,000 and a high of $320,000 after around 10 years of experience.

At the executive level of a company, investment strategists or directors are responsible for developing investment priorities and plans, working with investment officers, and evaluating the performance of different investments.

Professional requirements

• Usually, a Master’s degree would also be required after a Bachelor’s Degree in banking, economics or mathematics.
• Have at least 10 years of asset allocation, securities research or fund management job experience.
• Enter an association of industries.

9. Psychiatrist

Psychiatrists are experts in mental health who analyze, diagnose and manage different mental health conditions, including depression, bipolar and addiction. Psychiatrists may also prescribe medicine, adding depth to their positions by adding another lawyer.

On average, psychiatrists earn $213,683 a year, even though making over $300,000 is not unheard of.

Professional requirements

Completion of a Bachelor’s degree in Medicine.

Become a licensed Medical Practitioner and obtain at least two years of medical experience after graduation.

To complete further training, apply to the Royal Australasian College of Physicians (RACP).

Six years of specialization in the world of Psychiatry.

10. Engineering manager

Engineering managers are responsible for managing the technical activities of a company by supervising engineering departments, collaborating with architects, and effectively executing projects in engineering and construction.

 For engineering managers, the most typical salary is just over $ 200,000 a year.

Professional requirements

• If required, complete a Bachelor of Engineering and Postgraduate Studies (such as a Master of Engineering Management or a Graduate Certificate in Engineering Management).
• Attain membership in Engineers Australia, register with the National Engineering Register and become a member of the Australasian Institute of Public Works Engineering.

These are the top ten professions that will command a high salary in 2021. Skilled professionals in these fields can consider applying through the Skilled migration program to find a job in Australia.