“You should get into that job – it pays heaps!”
Sound familiar?
From fly-in-fly-out mining to the operating theatres of anaesthetists, Australia’s highest-paying roles often attract admiration, envy, and unsolicited career advice. And yet, behind the impressive salaries lie intense demands, long years of training, and significant personal trade-offs.
Australia’s Top 5 Highest-Paying Jobs
According to the Australian Taxation Office (ATO), and supported by job market platforms like SEEK and Hays, here are some of the highest average salaries by profession:
| Job | Average Salary |
|---|---|
| 1. Surgeon / Specialist Doctor | $400K–$600K+ |
| 2. Anaesthetist | $350K–$550K |
| 3. Internal Medicine Specialist | $300K–$500K |
| 4. Mining Engineer / Site Manager (FIFO) | $200K–$400K |
| 5. Corporate Lawyer / Investment Banker | $180K–$400K |
*Estimates vary by experience, location, and sector. Salaries can reach higher with bonuses or private practice.
The Hidden Trade-Offs
1. Anaesthetist: Years of Study & Extreme Pressure
- Downside: It takes 12–15 years to become an anaesthetist—after medicine, internships, and specialisation.
- The pressure of maintaining life-or-death focus during surgeries can lead to burnout, anxiety, and emotional fatigue.
- On-call duties and overnight shifts are common.
- As with many medical roles, the suicide rate is among the highest of any profession (Beyond Blue, 2023).
2. Fly-In Fly-Out (FIFO) Mining Work: Isolation & Mental Health Risks
- Downside: FIFO workers often face extreme isolation, spending weeks away from family.
- Long 12–14 hour shifts, tough conditions, and loneliness contribute to high rates of depression and relationship breakdown.
- The Black Dog Institute reports elevated mental health risks for FIFO workers, with limited access to support services on site.
3. Corporate Law: Long Hours & High Burnout
- Downside: Corporate lawyers might earn big—but 60–80 hour weeks are not uncommon.
- High-pressure clients, tight deadlines, and the expectation of round-the-clock availability lead to extreme stress and burnout.
- Law Council of Australia surveys reveal high rates of mental health challenges and low work-life balance in the profession.
4. Investment Banking: Big Bonuses, Bigger Burnout
- Downside: Glamorous from the outside, the reality is all-nighters, 7-day workweeks, and intense internal competition.
- Often labelled a “young person’s game,” few stay in the role more than 5–10 years before burning out or switching careers.
- High pay is often compensation for no time off, not true work-life integration.
5. Specialist Doctors: Endless Study & Medico-Legal Risk
- Downside: Beyond medical school, specialists undergo years of exams, supervision, and peer review.
- Many juggle public hospital hours with private practice, making 50–70 hour weeks the norm.
- Constant threat of litigation, patient outcomes, and administrative pressures compound the stress.
The 1% of Recruiters Who Bill $1M+
Interestingly, there’s one high-paying job that doesn’t require a university degree or 15 years of study—recruitment.
Top recruiters can bill over $1 million annually, particularly in specialist markets like tech, legal, or executive search.
But only about 1% of recruiters ever reach that level. Why?
- It takes relentless consistency, resilience, and a proactive, business-owner mindset.
- There’s no safety net—no base salary in some models, just commission.
- You wear multiple hats: sales, marketing, negotiation, account management, and more.
- And like the others, the emotional toll of rejection, unpredictability, and burnout is real.
Even in industries like recruitment – where some top performers bill over $1 million annually – only a tiny fraction ever reach that level. The reality? Big money often comes with big pressure.