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Australias 50 highest paid jobs revealed in tax office data




ORDINARY Australians are struggling to make ends meet as wage growth stagnates and the cost of living soars but the one per cent are living large.

And while the true rich listers have their earnings tied up in complex company structures, the tax returns of the nations top salary earners reveal that they are living very comfortably indeed.

With high rates of underemployment, many ordinary workers would need to add an extra zero to their pay packet to match these earnings.

The latest Tax Office data reveals that male neurosurgeons have the best-paid job in the country, taking home a whopping $577,674 a year.

For women, its judges who lead the pack with $355,844, confirming the age-old cliche that studying law or medicine is the ticket to a life of comfort.

The gender pay gap is writ large in the results, with female neurosurgeons taking home just 56 per cent of their male counterparts salary, despite being the second-highest-paid professional women.

Medical specialists dominate the list of the 50 highest paid mens jobs, with investment bankers, MPs, chief executives, dentists, company secretaries and mining engineers also making the list.

The worst-paid jobs involved manual labour and traineeships, many of them in industries that tend to employ part-time workers including fruit pickers, farm overseers, leaflet or newspaper deliverers, crossing supervisors, fast food cooks, dishwashers and kitchen hands.

Men and women in these positions reported earnings of a measly $13,307 to $20,575 a year.

AUSTRALIAS 50 BEST-PAID JOBS

Men

Neurosurgeon $577,674

Ophthalmologist $552,947

Cardiologist $453,253

Plastic and reconstructive surgeon $448,530

Gynaecologist; Obstetrician $446,507

Otorhinolaryngologist $445,939

Orthopedic surgeon $439,629

Urologist $433,792

Vascular surgeon $417,524

Gastroenterologist $415,192

Diagnostic and interventional radiologist $386,003

Dermatologist $383,880

Judge law $381,323

Anaesthetist $370,492

Cardiothoracic surgeon $358,043

Surgeon general $357,996

Specialist physicians other $344,860

Radiation oncologist $336,994

Medical oncologist $322,178

Securities and finance dealer $320,452

Thoracic medicine specialist $315,444

Specialist physician general medicine $315,114

Intensive care specialist $308,033

Renal medicine specialist $298,681

Neurologist $298,543

Financial investment manager $288,790

Investment broker $286,530

Paediatric surgeon $282,508

Clinical haematologist $271,738

Futures trader $264,830

Endocrinologist $258,972

Cricketer $257,527

Rheumatologist $256,933

Dental specialist $253,442

Magistrate $246,737

Equities analyst; Investment dealer $245,826

Paediatrician $239,405

Stock exchange dealer; Stockbroker $238,192

Psychiatrist $234,557

Emergency medicine specialist $232,595

Member of Parliament $232,093

Pathologist $224,378

Company secretary corporate governance $218,432

State governor $212,652

Actuary $196,144

Sports physician $187,468

Petroleum engineer $185,808

Chief executive officer; Executive director; Managing director; Public servant secretary or

deputy secretary $181,849

Mining production manager $179,439

Women

Judge law $355,844

Neurosurgeon $323,682

Plastic and reconstructive surgeon $281,608

Futures trader $281,600

Vascular surgeon $271,529

Gynaecologist; Obstetrician $264,628

Gastroenterologist $260,925

Magistrate $260,161

Anaesthetist $243,582

Ophthalmologist $217,242

Cardiologist $215,920

Urologist $213,094

Surgeon general $210,796

Medical oncologist $208,612

Specialist physicians other $207,599

Specialist physician general medicine $207,225

Otorhinolaryngologist $200,136

Dermatologist $195,030

Diagnostic and interventional radiologist $180,695

Cardiothoracic surgeon $175,500

Paediatric surgeon $175,314

Endocrinologist $174,542

Member of Parliament $173,331

Rheumatologist $169,409

Intensive care specialist $169,369

Emergency medicine specialist $165,786

Orthopedic surgeon $159,479

Neurologist $155,217

Renal medicine specialist $155,133

Psychiatrist $152,437

Clinical haematologist $147,970

Paediatrician $147,347

Securities and finance dealer $145,208

Dental specialist $140,505

Actuary $136,819

Radiation oncologist $135,678

Financial investment manager $134,481

Petroleum engineer $133,315

Mining production manager $133,061

General medical practitioner $129,834

Thoracic medicine specialist $127,645

Stockbroker $124,433

Paving plant operator $123,281

Mining engineer $119,564

Tribunal member $119,219

Occupational medicine specialist; Public health physician; Sports physician $118,310

Geophysicist $117,575

General medical practitioner $184,639

Chief executive officer; Executive director; Managing director; Public servant secretary or

deputy secretary $116,855

Metallurgist $110,359

Engineering manager $116,732

Kill Bill's


Get Rid of Some "Extras"

The key to financial freedom is building wealth. The key to building wealth is eliminating all your extra bills so you have money to save. The average consumer's credit report carries quite a burden from these bills as well. Let's start with what hurts the most. Eliminate any habits you currently have. Most habits cost money and if it's a habit it can't be healthy for you in the long run anyway. Smoking, drinking, candy, coffee, collecting junk, etc. You will be surprised how much cash you pocket if you just quit 1 or 2 of the above (if any apply of course). By giving up a habit you are not only saving money and maybe even your health, but you are also gaining self-discipline helping you mature financially.

Food: Dine In or Carry Out

Let's look at the two separately AND together. If you eat out once a week, even at $25 you are spending $100 a month. Pretty simple math. Let's say you get carry-out (drive-thru) 3 times a week at $5 per visit. This equals $60 a month. These figures are below average, but even so, this is $160 in 1 month that could be used to eliminate some smelly debt. Pack a lunch for work. Try cooking at home. It's a fraction of the cost, it tastes better than "fast food" and it is usually healthier. If you can't eliminate eating out then try cutting it in half for starters.

Grocery List (or lack thereof)

Many consumers head to the grocery store with no plan or list. BIG mistake. This is what grocery stores are designed for. Go ahead, walk down each aisle and tempt yourself with row after row, shelf after shelf of junk food, extra stuff that you don't need. A list could save you 50% alone - that much more to wipe out those irritating loan payments. A grocery list serves two purposes. It saves you quite a bit of money which you notice immediately. Secondly, it allows you to be more prepared for the upcoming week, month or however often you shop. You can make out a daily meal plan ahead of time so you know exactly what you need to purchase and approximately how much cash you will need.

Sell Some Stuff

Everyone has stuff lying around collecting dust. Remember the saying "One man's trash is another man's treasure."? You could probably knock out a couple of stagnate bills with some of those collectibles sitting in a box in the closet. You would be surprised to know that an object you have absolutely no interest in could sell on an auction site and pay off that hospital bill that's been chasing you around like a mad hornet.

Cash, Cash, Cash

Only buy with cash. Plastic looks the same when you spend it. Dollar bills disappear and you will feel the impact when you start to get a shortage of it. Start a cash envelope system - at least one for gas, food and clothing. Like any new system, it will take a few times before you get the right amount in the envelopes. You will start to notice a large impact on your budget though and will find it worth while. If you buy something with cash you don't owe on it. You might think a little longer about it too when you hold on to that $100 bill. If you apply the various techniques and ideas in this article you will start to knock chunks off your overall debt. This will get you closer to achieving financial freedom and your credit report will begin the long awaited healing process. Start today!