The highest paying jobs in Australia range from Dentistry and all the way to Psychology. More than 1.4 million local and international students decide to enroll in Australia’s universities each year, aiming for a variety of study fields. And that’s no wonder, since seven of Australia’s universities, led by the University of Melbourne, are on the top 100 in the Academic Ranking of World Universities. The employment rate of undergraduates in Australia is also quite high. The latest Graduate Outcomes Survey Results show that the number of undergraduates in full-time employment is 72.2% for the year 2019; meanwhile the overall employment rate of undergraduates is 86.8%.
Some of the most employable degrees range from Pharmacy, Rehabilitation, Medicine, Dentistry, Engineering, and Veterinary Sciences. But apart from having the highest rate of employability, some of them are not the highest paid degrees in the job market. The National Report of the Graduate Outcome Survey for 2019 shows that higher level qualifications lead to higher salary outcomes. More specifically, the median salary of undergraduates employed full-time was $62,600 per year; postgraduate coursework graduates received $85,300 per year, while postgraduate research graduates had a median salary of $90,000 per year.
Below, you will find a list of the highest paying jobs in Australia, ranked according to the undergraduate median full-time salary by study area.
Dentistry ranks fourth when it comes to the percentage of undergraduate full-time employees, a total of 86.2%. However, when it comes to salaries, it is the first on the list. The undergraduate median full time salary for male employees per year in Australia is $88,500; while the salary for female employees in this study area is $84,000. The total median salary for Dentistry employees is $88,200.
Medicine ranks just above Dentistry with regards to the percentage of full-time employment of undergraduates, with 91.1%. Salary-wise, Medicine is ranked second on the list. Undergraduate male employees in this study area have a median full time salary of $73,400; meanwhile female employees are paid a median salary of $73,000 per year in Australia. The total median salary for Medicine employees is $73,100.
3. Teacher Education
Teacher education is also one of the highest paid fields of study in the job market. Male employees in this sector earn $68,600 per year, median salary; female employees earn $67,800. The total median salary for this field of study is $68,000.
On a further note, Teacher education ranks seventh on the most employable degrees in Australia list.
4. Social Work
Male employees in this field of study earn a median salary of $66,700 per year; female employees earn a median salary of $67,600. The total median salary for undergraduate employees in Social work is $67,600.
When it comes to the employability of this study area, according to 2019 statistics, only 70.2% of Social work undergraduates were in full-time employment in 2019.
Engineering ranks fifth in terms of employability as well as salary of undergraduates in Australia. More specifically, male employees in Engineering earn an amount of $67,800 median salary per year; female employees on the other hand earn a median salary of $67,000 per year. The total median salary for undergraduates in Engineering is $67,500.
6. Computing & Information Systems
Male employees in Computing and Information Systems earn a median salary of $64,600 per year; while female employees in this kind of undergraduate degree earn an amount of $63,000. The total median salary for undergraduates in full time employment in Computing and Information Systems is $64,000.
Undergraduates in Computing and Information Systems have a full time employability rate of 75.9%.
7. Law & Paralegal Studies
Law and Paralegal studies is also one of the highest paid study areas in Australia. The median salary for male employees per year is $67,600; female employees get paid a median salary of $61,300 per year. The total median salary for undergraduates in full time employment in this field of study is $63,200.
The full-time employment rate of Law and Paralegal studies undergraduates was 77.3% in 2019.
8. Health Services & Support
Health Services and Support undergraduates get paid a total median salary of $63,000 per year. The salary of male employees in this sector is $65,100 per year; while female employees earn $62,600 per year.
When it comes to employability, this study area has a percentage of 70.5% of undergraduates in full time employment, according to 2019 statistics.
Nursing is ranked 9th when it comes to the median salary for full time undergraduate employees of this study area. Male employees earn an amount of $63,000 per year; while female employees earn an amount of $62,600 per year. The total median salary for this study area is $62,600.
The full time employment rate for undergraduates in Nursing is 76.3% for the year 2019.
And last but not least, Psychology majors earn a total amount of $61,300 median salary per year. Male employees in this sector get paid $64,700; while female employees in full time employment get paid $60,000 per year.
Only 63.4% of Psychology undergraduates are employed full time, according to 2019 statistics.
However, the employment as well as the salary outcomes of undergraduates also varies across institutions. More specifically, the university with the highest full time employability rate is Charles Sturt University with 86.4% followed by Charles Darwin University with 81.7%.
When it comes to salary, the universities with the highest median full time undergraduate salaries immediately after graduation are the University of Southern Queensland, $69,400; Charles Darwin University, $69,000; the University of New England, $68,900; the University of Tasmania, $68,000; and Central Queensland University, $68,000.