You might not be surprised to learn that the jobs with the highest salary in Australia are those in the medical industry. Australian Taxation Office data shows medical practitioners are the top earners nationwide, with surgeons averaging $406,068, anaesthetists at $388,814 and internal medicine specialists at $310,848.
Overall, less than 3 per cent of Australians feel wealthy despite the fact that more than 15 per cent of those surveyed earn more than $200,000 a year. However, most people surveyed felt “comfortable” on their current wage, with 55 per cent indicating this on a sliding scale when asked if they felt wealthy.
To be among the top 10 per cent of Australia's 14,958,590 income earners, someone would need to earn $122,664 - based on 2019-20 Australian Taxation Office data, the latest available figures.
Landing in the top 10% is a fairly attainable goal for upwardly mobile Americans. A study by the Economic Policy Institute (EPI) found that the average earnings of those in the top 10% were roughly $173,000 in 2020.
Switzerland, Luxembourg, Singapore, USA, Iceland, Qatar, Denmark, UAE, Netherlands, and Australia take the lead, offering the highest average monthly salaries to their citizens. The top three countries on this list are Switzerland, Luxembourg, and Singapore, where citizens earn more than Rs.
Bernard Arnault, head of luxury conglomerate LVMH, earned the No. 1 spot after adding $53 billion to his net worth in 2022, launching him to the top of the richest list for the first time. Here are the 10 richest people in the world as of March 2023, according to Forbes.
Advisory giant Accenture consistently pays consultants the highest starting salary compared to the big four consulting firms, with PwC and Deloitte vying for second place at different experience levels.
$100,000/year is above an average salary and if you're frugal enough, on $100,000/year, you should be able to live a good life and save some money too. Usually if you consider living in desirable locations of cities like Melbourne and Sydney, most of your income will be consumed in the house rents.
The average salary in Australia is on a steady upward trend, even though it's still slightly lower than the average earnings in the United States and the United Kingdom. That said, the mining, electricity, construction, trade, and manufacturing industries pay the highest average salaries in this country.
