Organisations in Australia have witnessed a significant change in the workforce due to the permanent adoption of hybrid and flexible work arrangements and growth in the gig economy.

Despite the doom and gloom of a second pandemic year and the recession, it looks like we would be jumping into 2022 on a high. According to the Australian Bureau of Statistics, the unemployment rate fell to 4.6% in November, while the employment to population ratio increased by 63%.

Whether you’re seeking a promotion, negotiating a pay rise or changing careers, salary plays a significant part in determining your next role. For a clearer idea of the amount of salary for the jobs you plan to pursue, go to our Salary Comparison Tool to determine how your current salary compares to the market average. This tool is updated yearly with data based on actual job placements across various industries in Australia.

Best paying sectors and industries in Australia

The legal sector continues to pay some of the most generous salaries in Australia, with experienced in-house general counsel roles at ASX100 companies, taking the title of the highest paying job in Australia with an annual average salary of $437,500. General counsel positions at other companies also fall well into the six figures.

A surge in demand for leadership roles in the IT sector has also led to a boost in salary. For instance, the average pay of a chief technical officer went up by $30,000 from last year to an annual average of $330,000 this year.

Senior project manager positions like general managers in the Construction industry remain among the highest income earners, earning an average of $350,000 annually. Head of operations roles in the Mining, Energy and Resources industry continue to be highly paid at an average yearly salary of $325,000. Positions in banking and financial services, and sales are also well paid.

Understandably, salary is a significant deciding factor wherever you may be on your career journey. To help you decide on your next move, we have compiled a list of the highest paying jobs in Australia, derived from our 2022 Michael Page Salary Report.

While our list of the top 10 highest paying jobs in Australia naturally showcases senior roles, it also highlights the more highly paid job sectors and industries. Knowledge of this would help you decide on the industries to go into if you’re starting out or changing jobs or careers.

Top 10 highest paying jobs in Australia

10. M&A Investment Bank Vice President /Associate Director (Banking & Financial Services)

Average salary: $262,500

Investment Director in Private Equity - Small / Mid-Cap Fund (Banking & Financial Services)

Average salary: $262,500

9. Managing Director / Country Manager in Healthcare-Medical Devices Sales (Sales)

Average salary: $265,000

8. General Manager in Consumer/Industrial Sales (Sales)

Average salary: $270,000

7. Development director (Property)

Average salary: $275,000

Managing Director in General/Engineering Management (Engineering & Manufacturing)

Average salary: $275,000

 6. Chief Financial Officer (Finance & Accounting)

Average salary: $280,000

 5. Investment Director in Private Equity - Large-Cap Fund (Banking & Financial Services) (Finance)

Average salary: $300,000

Portfolio Manager (Technology)

Average salary: $300,000

4. Head of Operations (Mining, Energy & Resources)

Average salary: $325,000

3. Chief Technology Officer (Technology)

Average salary: $330,000.

2. General Manager in Project Management (Construction)

Average salary: $350,000.

1. In-house General Counsel (Legal, ASX 100 with 7+ years experience)

Average salary: $437,500.

Our 2022 Salary Report provides a comprehensive look at the most up-to-date salary numbers in different industries and for all experience levels. Download a copy of our latest salary report here.

To find out how your salary compares to other roles and industries in Malaysia, go to our Salary Comparison Tool. Are you seeking a new role? Click here for these available job openings now.

Disclaimer: Salaries can differ from company to company and depending on your skills, knowledge and experience.

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