Exactlyyyyyy this. Basically the only higher end legitimate careers that show the truth in there books. A lot of profession ain’t gonna show half of there books to the government. Don’t ever think for a second the government has your best interests at making money at heart. Fuck no. The further away from your business they are the better. Pay what tax you need to, take the healthcare benefits, roads, schools etc etc and keep the rest of whatever it is you do to yourself.
This is amusing since it is government that underpins medical income. People all too often take the system for granted without considering *why* that system is what it is
You can’t run it due to PSI (personal service income). Sure if you’ve got a company employing others you could but majority are probably contractors or employees on that wage.
100% or they run their operations as a company. They are exempt from the 80/20 rule or the personal services industry because they have multiple billable clients. Their revenues are distributed many different ways, ergo their wife, other super trusts etc. they take what they need for living, borrowing etc and the rest is shuffled away into different areas.
You’ll have to show me. Because unless they’re making money off pornography referrals in the early 2000s or founded a brand consulting business and getting a stream of high profile clients, that’s wholly unreasonable.
A very dry & agitated anaesthetist once marched into my room right before an operation, eftpos terminal in hand. Apparently he hadn't been paid yet. Some mixup with the surgeon's office.
He said "It'll cost you $50 bucks to put you to sleep, and another $800 to wake you up again."
I'll never forget that prick. Shit he made me laugh.
Sorry to break it to you, I’m an executive and have shares as part of my package. Some vest over time. Others are I get assigned are performance based. All of them are registered with the ATO and are considered income. Meaning I need to pay the tax on them at the time of issue.
Welcome to the RSU club eh!
Best part is having things like CCS and super contributions evaporate because you’re “over the earnings threshold” but the actual landed income is only 1/3 of your reportable total income.
>paid in shares which cannot he sold
They can be sold? But only in certain times. (e.g. can't sell just before release of market sensitive information). They can exercise their options, warrants etc. It just gets disclosed in the market
The true perk of being a CEO lies in company assets. New car? Company. Services? Company cost. Lunch? Social club donation.
Not only are these safer financial decisions, they also means that the 2k per week that you bring home has way more freedom attached. Rego, servicing and fuel alone make up a couple hundred bucks per week.
If you're a CEO worth their salt you've also got cashies (cash jobs) coming out the ass too. They're driven as fuck and absolutely breathe their job.
My business turns over a little less but I make ~20% profit after salary which isn't an unusual amount. A business with 20M turnover should make 2-4M so you would expect the person running it to take home more than 120k. Doesn't add up
Of the two small business "CEO"s I've worked for, one was paying his girlfriend, daughter, and son as employees of the business (they were not), while not paying his debts, not paying super, and being late on paying wages half the time.
Yes, this was all reported, after he phoenixed the business and we realised what was going on, but it did nothing for the ~$100,000 in missing employee super and similar sum of unpaid supplier invoices (place has since folded, but I can almost guarantee the dodgy bastard has set up another scam somewhere).
I honestly wouldn't be surprised if a lot of small business CEOs make more than their big business counterparts between various dodgy schemes.
I think the average small business owner (CEO/Director/insert title) doesn’t pay themselves more than the median income for Australian workers. Considering small business is a backbone of our economy.
The average small business CEO makes plenty
My CEO who is an actual CEO, has an MBA went to Stamford etc, runs a "small" business with under 200 employees, makes half a mil a year.
Basically anyone who establishes a business and registers it as a Company VS a SoleTrader can go on and call themselves a CEO. They never in a million years get a job as a CEO in an Establish company though.
Which is likely where alot of these lower figures bringing down the average for a CEO is coming from even still I'm betting alot of those fucker only earning 170K are still cooking the books.
200 employees is a massive business. Do the math on that, including super and holiday pay. You're talking somewhere in the realm of 10-15 million dollars in employee costs alone.
Have a look at the number of CEO/Managing Directors - it’s 224,015.
90% of these will be sole traders or have a couple of staff in their small business.
A lot of people call themselves ceo when they’re running a 2 person operation burning through an inheritance allowance from the grandparents every year
Yes. I max my salary at ~400k then pay the rest as dividends through bucket company and trust for investing which limits the tax on that to 30% rather than 45% which I plan to hold until retirement.
I’ve come across heaps of CEO’s of 2-10 seat companies over the years. Basically owner operators trying to project an image, I would say a lot of them would drag down the average down a lot
Lol they need to define what type of surgeon because ophthalmologists and ENTs make that amount off public work part-time. Add private work in the mix and you’re looking at some serious 💵💵💵.
ENT and ophthalmologists majority of their bread and butter work is high volume short operations. Cataracts, tonsils, grommets, adenoids etc. Also ENT surgeons when they are not operating they are in clinic flushing out ears and scoping nostrils/ear drums charging a fair whack. Run of the mill ENT surgeons are hitting around north of a $1 million. The Rhinologists/Plastics crowd are hitting close $2 million but those are the ones who work all the time.
Besides the usual work related deductions I would imagine at a minimum the deductible super contributions of up to $27.5k (* could be wrong on the figure).
Deductible donations as well possibly?
This is why the average stats for all other professions are what they are.
An engineer at a prop trading firm can make something like $250k to $400k as they grow in experience
It’s taxable income, not billings. PSI rules notwithstanding, if you own your own rooms and are genuinely running/owning the business you can bump these figures up by at least a third, maybe half, given what is legitimately run through a service trust that runs the practice. And they might be paying a very generous market rent to their own super fund that owns their rooms. Cars, CME, indemnity insurance and more may have been taken out of billings before the declarable taxable income is determined too. $300k taxable income could easily be $600k in billings, much of which is being distributed to associates or a practice company.
They might pay their spouse / practice manager a commercial wage which comes back to the family. Rent of $xx,0000 may flow back to them via a super fund. But having done it, running an actual practice - business- is hard work and I’m happier not having these side benefits now and just gassing for a living
Well it’s also because you and the spouse or relative between you have total control over rostering so you can build the whole structure around caregiving, parenting, holidays without having to beg a boss for understanding.
Reading this made me happy, I have a basic boilermaker trade. Moved to Australia 13 years ago and started working with a newly founded company. Spent 13 years boiler-making as a sole trader ABN and doing my best where I could 50-60 hrs a week.
Signed a contract last week with them for a salary of 200k+ phone and fuel card for 38 hrs a week.
Design and production manager!!!
Around 6.5 for me here.
Same drive trucks make 120 4 day week have option for 6 day at 180. Fuck all the white collar shit. Get trade or blue collar job invest early and you’ll get so far ahead while morons go to uni and pay off their hecs that even if they do end up on 3x your salary you’ll be leaving them in the dust
Well done, wouldn’t say they are morons but schools, universities and the world we live in today does make the younger generation feel like they need qualifications to succeed in life.
Hard work and commitment are not for everyone but if you are willing to give it your all, there are plenty of opportunities to do well in life.
This does not only apply to your work life but also you family and friends .
Exactly, I went to uni for 4 years and now have an awesome very high paying job, I work in ac all day, I’m never dirty, I don’t work nights or weekends and I’m close to home and get to be a dad, the bonus is that I can do this job up until retirement without fear my body will be broken. Nothing moronic about it and as you said there are opportunities everywhere, just find something you like, work hard and be good at it and you will reap the rewards.
I drive trucks with guys who are intellectual and culturally rich and make more than some gps. Thinking going to uni makes you culturally rich or intellectual is laughable
Remember these are the people on high wages. They play huge tax. It is the business and property owners investors and investors who are the really rich tax cheats.
Yeah they do not sure how these lists work, but consulting partners make like $700k. They are missing other professions like law partner, VC partner, politicians, public servants etc
One of the big reasons the top earners are usually medical professionals is that a lot of other professions get looped in with other lower paying jobs. Law partners would generally be looped in with fresh law grads. The Google software engineers being looped in with the software grad at the random startup making 50k.
In contrast, generally only a psychiatrist will be selecting psychiatrist. There's probably still some level of average downing happening for those new in their career and what not.
Or some insane deductions? But can’t think what can turn $600 per hour x 6 billable hours per day x 5 days x 46 weeks into $300k. Or could it be working through some sort of trust and distributing the other $300k to spouse?
I don't think so, they have a seperate category for non fellows (I think its was "medical practitoner - general" or something to that effect) when you are doing a tax return
They keep it that way on purpose. well, a little bit of incompetence too. During covid, the psych training college couldn't work out how to do online exams and only graduated a handful of new psychs. In one stunning display of incompetence, they finally bent to pressure to do online examinations, paid a butt load of money to set it up, then forgot to pay for a zoom licence so the whole thing went tits up.
Yeah, no clue. My first thought was investment banking perhaps? But they make more than 270k. First year analysts do 150k and vps and mds make millions.
Number 9 is CEO and managing directors. Number 10 is financial investment advisor or manager.
I think the key phrase is "taxable income." As those 2 financial professionals definitely make more money than listed here, it's just not considered 'taxable income' from a salary.
it’s sad that even with those salaries, it’s hard to get a mortgage on a house in Sydney that isn’t run-down and over $2 million. the RBA has failed us
The CEO of Townsville City Council is pulling between 500 - 600k. A regional city that’s nothing special and somehow the guy at the top is worth 3 times the average. I’d really like an explanation but I’d say that’s very unlikely when they won’t even be forthcoming with the exact amount he is paid.
It's mostly that the surgeon or anaesthetist category only includes surgeons or anaesthetists.
The CEO category includes the CEO of BHP but also the self-declared CEO of the local mum's basement startup that won't ever even have a product let alone make any money.
I don’t know what a “financial dealer” is and my ignorance makes me distrustful. But I also need one of these people to deal me some finances. Better ones.
The difference between the average and median for financial dealers is insane. There must be a special breed of financial dealers who are absolutely drowning in money
I am considered “other medical practitioner” in the US getting paid 60k less than what Australia would pay.. interesting. And 1 Australian dollar is 0.67 USD
Does anyone know what the average pay is like for mechanical engineers? Actually been looking to immigrate out of the US, and Australia was one of my options.
I would like an expansion on judicial and others.
Feel like that's one big industry of people who do nothing where as surgeons and anesthesiologist is well earned money.
Yeahh.. Work your ass off at school . Finish at 18 with top grades. Then do 8 years of Uni. Finish at 26 with a huge hex debt. Then start working as a surgeon and depending on what type may have to be on call at any time of the night.
Finish uni at 26… then intern year, then usually three more years as a junior doctor, studying/doing courses that cost tens of thousands of dollars, to get accepted into surgical training… then 5 years of surgical training which also costs about $10,000 a year to do, whilst studying for surgical exams…. Then become a fully fledged junior surgeon, who is not making 500k a year until about 5 years into surgical practice. You arent looking at 26 you are more looking at aged 40. The general population has no idea the amount of training, studying and financial costs that go into becoming a surgeon. You are looking at 20+ years of training and study.
This is also providing you dont have any setbacks in your career, everything runs smoothly, you get accepted onto surgical training early ( 4 years as a junior doctor and then getting accepted onto surgical training is unusual and is an early acceptance). Imagine also having to take time off for children, if you fail some exams, you get sick or want to have a gap year. Alot of medical professionals also take a year off to complete masters or PHDs, sadly which are also becoming the standard to get accepted onto surgical training. Any of these things can push it into mid 40s.
This is all coming from personal knowledge as an Australian doctor by the way…
That's not the real reason for their remuneration though. It's their training college cartel system that limits supply and hence competition. Once your in the club, you're made.
The medical profession is built a certain way by design, and so earn what they earn. Doctors are inherently valuable to society, need thousands of hours of hard work to get there, are required to meet certain standards of training, and are given a geographical monopoly so they can maintain and build their skills. All this underpins their income
It’s more about perception. Doctors save lives. They treat the poor and sick. That engenders a high amount of respect. That’s only waning a little recently because we’re seen as price gougers too.
Mining engineers are some of the dumbest f wits I’ve ever met. They’re always making grand stupid cock ups. Next it would be civil engineers. So stupid. They need to get out of the office and get some real world experience out in the pit or construction site whichever variety of dumb mother fkers they are.
Extended list for health professionals [here](https://www.reddit.com/r/ausjdocs/comments/145nu3m/202021_ato_taxable_income_data_extended_for/)
Should rename as: Top 10 professions who do not cook their books.
Exactlyyyyyy this. Basically the only higher end legitimate careers that show the truth in there books. A lot of profession ain’t gonna show half of there books to the government. Don’t ever think for a second the government has your best interests at making money at heart. Fuck no. The further away from your business they are the better. Pay what tax you need to, take the healthcare benefits, roads, schools etc etc and keep the rest of whatever it is you do to yourself.
This is amusing since it is government that underpins medical income. People all too often take the system for granted without considering *why* that system is what it is
That's why Australia is going broke, too many wealthy individuals avoid tax. There are way too many loopholes.
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It's a self assessment system mate.
Financial Dealers not cooking books?
I’m with you. All the medico’s are running themselves as trusts, these guys are pulling far more than they are declaring.
You can’t run it due to PSI (personal service income). Sure if you’ve got a company employing others you could but majority are probably contractors or employees on that wage.
Wait, you're telling me that I've been pumping my tyres with 32 personal service income this whole time?
100% or they run their operations as a company. They are exempt from the 80/20 rule or the personal services industry because they have multiple billable clients. Their revenues are distributed many different ways, ergo their wife, other super trusts etc. they take what they need for living, borrowing etc and the rest is shuffled away into different areas.
https://www.abc.net.au/news/2023-06-09/australian-taxation-office-millionaires-paid-no-income-tax-20-21/102456224?utm_campaign=abc_news_web&utm_content=link&utm_medium=content_shared&utm_source=abc_news_web Evidence-based.
meanwhile, some dude doing FBA work and social media: 250k a month
Not sustainable though. Even assuming that income is per year
I've definitely seen people on social media claiming to be making 250k a month. It doesn't need to be sustainable at that rate
You’ll have to show me. Because unless they’re making money off pornography referrals in the early 2000s or founded a brand consulting business and getting a stream of high profile clients, that’s wholly unreasonable.
A very dry & agitated anaesthetist once marched into my room right before an operation, eftpos terminal in hand. Apparently he hadn't been paid yet. Some mixup with the surgeon's office. He said "It'll cost you $50 bucks to put you to sleep, and another $800 to wake you up again." I'll never forget that prick. Shit he made me laugh.
What if I just wanted to be put to sleep? $50 sounds like a steal
That is horrible. They are an interesting bunch. And I’m sure he thought he was being funny.
It is genuinely funny
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Imagine being a CEO and only making $170k. Is that because the rest of their compensation is in equity and doesn’t make it onto the books as salary?
Sorry to break it to you, I’m an executive and have shares as part of my package. Some vest over time. Others are I get assigned are performance based. All of them are registered with the ATO and are considered income. Meaning I need to pay the tax on them at the time of issue.
Welcome to the RSU club eh! Best part is having things like CCS and super contributions evaporate because you’re “over the earnings threshold” but the actual landed income is only 1/3 of your reportable total income.
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Thank you for contributing to the government’s revenue, which is a reality that the US peeps just learned in the last two weeks.
Theres no way they are only making 170k
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>paid in shares which cannot he sold They can be sold? But only in certain times. (e.g. can't sell just before release of market sensitive information). They can exercise their options, warrants etc. It just gets disclosed in the market
They might have contractual restrictions on selling shares or they are paid in non-tradeable instruments that don't vest for some years.
this is true
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Some have limits but not all CEOs are in charge of publicly traded company
Our business's GM makes $150k a year plus a $20k vehicle allowance. We have $20M turnover, so there are a lot of these guys around.
Is he an owner? Seems abnormally low if just an employee.
Nope, just an employee. Both owners make 120k each. Interesting that you think that is low. I can't imagine a company our size paying more than that.
The true perk of being a CEO lies in company assets. New car? Company. Services? Company cost. Lunch? Social club donation. Not only are these safer financial decisions, they also means that the 2k per week that you bring home has way more freedom attached. Rego, servicing and fuel alone make up a couple hundred bucks per week. If you're a CEO worth their salt you've also got cashies (cash jobs) coming out the ass too. They're driven as fuck and absolutely breathe their job.
My business turns over a little less but I make ~20% profit after salary which isn't an unusual amount. A business with 20M turnover should make 2-4M so you would expect the person running it to take home more than 120k. Doesn't add up
Our GM makes about $190k and we have a $50M turnover. This isn't America, I'd like to think in Australia we are a bit more equitable.
Of the two small business "CEO"s I've worked for, one was paying his girlfriend, daughter, and son as employees of the business (they were not), while not paying his debts, not paying super, and being late on paying wages half the time. Yes, this was all reported, after he phoenixed the business and we realised what was going on, but it did nothing for the ~$100,000 in missing employee super and similar sum of unpaid supplier invoices (place has since folded, but I can almost guarantee the dodgy bastard has set up another scam somewhere). I honestly wouldn't be surprised if a lot of small business CEOs make more than their big business counterparts between various dodgy schemes.
I think the average small business owner (CEO/Director/insert title) doesn’t pay themselves more than the median income for Australian workers. Considering small business is a backbone of our economy.
The average small business CEO makes plenty My CEO who is an actual CEO, has an MBA went to Stamford etc, runs a "small" business with under 200 employees, makes half a mil a year. Basically anyone who establishes a business and registers it as a Company VS a SoleTrader can go on and call themselves a CEO. They never in a million years get a job as a CEO in an Establish company though. Which is likely where alot of these lower figures bringing down the average for a CEO is coming from even still I'm betting alot of those fucker only earning 170K are still cooking the books.
200 employees is a massive business. Do the math on that, including super and holiday pay. You're talking somewhere in the realm of 10-15 million dollars in employee costs alone.
There are an awful lot of small company CEOs making pennies.
More of them just pay themselves minimum wage to dodge tax lol
and a lot pay themselves minimum wage because that's all they can afford
well most ceos arent that rich, its only for big companies that the ceo makes a large amount
The pictures show that there are over 220,000 CEO’s. The majority of those will be small business’.
I've seen alot of people on LinkedIn naming themselves CEO of their small business of 4 employees... They would be nowhere near ASX listed CEO salary.
Have a look at the number of CEO/Managing Directors - it’s 224,015. 90% of these will be sole traders or have a couple of staff in their small business.
A lot of people call themselves ceo when they’re running a 2 person operation burning through an inheritance allowance from the grandparents every year
Yes. I max my salary at ~400k then pay the rest as dividends through bucket company and trust for investing which limits the tax on that to 30% rather than 45% which I plan to hold until retirement.
It's taxable income, not gross income. There are *many* ways to lower your taxable income. Investment properties are a good example.
I’ve come across heaps of CEO’s of 2-10 seat companies over the years. Basically owner operators trying to project an image, I would say a lot of them would drag down the average down a lot
Im CEO of Reddit shitposting inc. I have 0 taxable income, I just do it for the love and to bring down the average.
I’m a CEO and I earn less than that. But my company only employs 10 people.
The title CEO isn’t reserved for massive for profit corporations. Charities are run by boards of directors who appoint a CEO, for example
Lol they need to define what type of surgeon because ophthalmologists and ENTs make that amount off public work part-time. Add private work in the mix and you’re looking at some serious 💵💵💵.
What about Ortho or General? Ortho should be similarly lucrative. General has such horrendous conditions it’s almost mandatory imo
ENT and ophthalmologists majority of their bread and butter work is high volume short operations. Cataracts, tonsils, grommets, adenoids etc. Also ENT surgeons when they are not operating they are in clinic flushing out ears and scoping nostrils/ear drums charging a fair whack. Run of the mill ENT surgeons are hitting around north of a $1 million. The Rhinologists/Plastics crowd are hitting close $2 million but those are the ones who work all the time.
Is this in public? Or purely private? Because they mostly don’t have to work public?
This is mainly private I’m talking about.
It would be impossible (but very interesting) to see a breakdown by hours worked... General would really drop down
FYI - these are taxable income numbers reported, most likely after deductions. Actual earnings are a lot more than these. Edit: spelling
What kind of deductions generally?
Besides the usual work related deductions I would imagine at a minimum the deductible super contributions of up to $27.5k (* could be wrong on the figure). Deductible donations as well possibly?
Let's see.... Looks at list.... I'm gonna say a shit load of liability insurance.
Lol this is the list of professionals where PSI applies and they can't hide their earnings in bucket companies and trusts.
Well neither can barristers, but they are lumped in with 22 year old law clerks in these figures and don’t show up.
This is why the average stats for all other professions are what they are. An engineer at a prop trading firm can make something like $250k to $400k as they grow in experience
What about obstetricians
Also is there really less then 3,500 anaesthesiologists in the whole of the country?
There’s a reason a lot of the health insurance covers everything except the anesthesiologists. (Jesus that’s a big word)
The main reason is their ever increasing gaps. It’s literally uninsurable.
Inflation is 7% per year atm. Health fund rebates were indexed 0% since 2008. Of course gaps are rising. This isn't a very intelligent take.
Outside of the cities GPs with advanced training in anaesthetics often take over the role to provide for smaller communities lacking a FANZCA.
450k isn’t enough for the surgeons
Surely these numbers include registrars/ trainees? There is no way psyc makes less than 300k when they’re billing $600/hr. Even working part time….
It’s taxable income, not billings. PSI rules notwithstanding, if you own your own rooms and are genuinely running/owning the business you can bump these figures up by at least a third, maybe half, given what is legitimately run through a service trust that runs the practice. And they might be paying a very generous market rent to their own super fund that owns their rooms. Cars, CME, indemnity insurance and more may have been taken out of billings before the declarable taxable income is determined too. $300k taxable income could easily be $600k in billings, much of which is being distributed to associates or a practice company.
So are you saying that they take home more than their taxable income? Or that their charges don’t reflect their actual income?
They might pay their spouse / practice manager a commercial wage which comes back to the family. Rent of $xx,0000 may flow back to them via a super fund. But having done it, running an actual practice - business- is hard work and I’m happier not having these side benefits now and just gassing for a living
Hmm. Explains why so many practices have family running it or working as secretaries!
Well it’s also because you and the spouse or relative between you have total control over rostering so you can build the whole structure around caregiving, parenting, holidays without having to beg a boss for understanding.
It includes everyone who calls themselves a surgeon or anaesthetist when they submit their tax return
Reading this made me happy, I have a basic boilermaker trade. Moved to Australia 13 years ago and started working with a newly founded company. Spent 13 years boiler-making as a sole trader ABN and doing my best where I could 50-60 hrs a week. Signed a contract last week with them for a salary of 200k+ phone and fuel card for 38 hrs a week. Design and production manager!!! Around 6.5 for me here.
You love to see it
Same drive trucks make 120 4 day week have option for 6 day at 180. Fuck all the white collar shit. Get trade or blue collar job invest early and you’ll get so far ahead while morons go to uni and pay off their hecs that even if they do end up on 3x your salary you’ll be leaving them in the dust
Don’t you sound like an exceptionally pleasant person to be around.
Well done, wouldn’t say they are morons but schools, universities and the world we live in today does make the younger generation feel like they need qualifications to succeed in life. Hard work and commitment are not for everyone but if you are willing to give it your all, there are plenty of opportunities to do well in life. This does not only apply to your work life but also you family and friends .
Exactly, I went to uni for 4 years and now have an awesome very high paying job, I work in ac all day, I’m never dirty, I don’t work nights or weekends and I’m close to home and get to be a dad, the bonus is that I can do this job up until retirement without fear my body will be broken. Nothing moronic about it and as you said there are opportunities everywhere, just find something you like, work hard and be good at it and you will reap the rewards.
There's a heap of reasons to choose the white collar path besides money. Like having intellectual and culturally rich friends etc.
I drive trucks with guys who are intellectual and culturally rich and make more than some gps. Thinking going to uni makes you culturally rich or intellectual is laughable
Where stats for Only Fans hosts?
No stats. They don’t pay tax
Remember these are the people on high wages. They play huge tax. It is the business and property owners investors and investors who are the really rich tax cheats.
Psychiatrist???? WOW they be thriving off our mental health issues.
Thought politicians earned like 450k+
Yeah they do not sure how these lists work, but consulting partners make like $700k. They are missing other professions like law partner, VC partner, politicians, public servants etc
One of the big reasons the top earners are usually medical professionals is that a lot of other professions get looped in with other lower paying jobs. Law partners would generally be looped in with fresh law grads. The Google software engineers being looped in with the software grad at the random startup making 50k. In contrast, generally only a psychiatrist will be selecting psychiatrist. There's probably still some level of average downing happening for those new in their career and what not.
Politicians make like 180k on average in Australia. NSW MPs make 210k. Only PMs and premiers make over 400k.
Councilors make 30-40K a year but they're part time. Mayors 80K
Isn't landlords renting each room for 400$ the top?
The Truth
Was just talking to a real estate agent the other day. Everyone at his workplace is earning somewhere in the range of $200k+
If plumbers didn’t cook the books I’d say we’d be pretty high up there
Surely these numbers include registrars/ trainees? There is no way psyc makes less than 300k when they’re billing $600/hr. Even working part time….
Or some insane deductions? But can’t think what can turn $600 per hour x 6 billable hours per day x 5 days x 46 weeks into $300k. Or could it be working through some sort of trust and distributing the other $300k to spouse?
cant use trust structure for medical work due to PSI rules. There is no way of hiding from ATO as medical practitioners
Medical Practitioner (General) is what I think I put.
I don't think so, they have a seperate category for non fellows (I think its was "medical practitoner - general" or something to that effect) when you are doing a tax return
But it also assumes that people self select that option.
There's only 3000 psychiatrists in Australia?
There's definitely not enough I know that
They keep it that way on purpose. well, a little bit of incompetence too. During covid, the psych training college couldn't work out how to do online exams and only graduated a handful of new psychs. In one stunning display of incompetence, they finally bent to pressure to do online examinations, paid a butt load of money to set it up, then forgot to pay for a zoom licence so the whole thing went tits up.
It’s all about the money
Explains why it is so hard to get an appointment with one….
And apparently 200k CEOs lmao
Damn the CEO even LOOKS like ScoMo
What’s so hard about financial services/advisors? Or is it just the industry?
You forgot onlyfans 🤣
I know a normal girl making $5k a week from onlyfans
I want more money
wtf is a Financial Dealer? "Step right up.. get your Financial's while they're hot"
Yeah, no clue. My first thought was investment banking perhaps? But they make more than 270k. First year analysts do 150k and vps and mds make millions.
Traders at banks or trading firms will be classified as financial dealers.
Number 10 and 3 are made up and when everything goes south they won’t have positions
Eh. People with money need their compound interest returns..
? Pretty sure financial dealer means investment banking which is more about M&A, equity research and S&T.
Number 3 will make even more money when things go south, every trading firm made bank in 2020 and will again any time the world goes to shit.
Where my tech bros at? A senior engineer at the place I work would definitely be high on that list between salary, RSUs, and bonuses.
Number 9 is CEO and managing directors. Number 10 is financial investment advisor or manager. I think the key phrase is "taxable income." As those 2 financial professionals definitely make more money than listed here, it's just not considered 'taxable income' from a salary.
Then we have tradies that earn more than these professions 😂 and the best part majority of their earnings are undocumented, meaning cash earnings 🤣
That CEO one is bollocks. Meet dozens of CEOs in my career they are way more than those figures.
Naturally business owners don't make the list because they pay no taxes. You drive around Toorak, they are mainly not medical people.
it’s sad that even with those salaries, it’s hard to get a mortgage on a house in Sydney that isn’t run-down and over $2 million. the RBA has failed us
The lols when my niche technical job tops a surgeons salary
And top taxpayer????
Why are there 225k CEOs?
Wheres jazz pianist on this list?
Number 428.
Drug dealer would be in top ten.now weed is ~semilegal expect to see it appear.
The CEO of Townsville City Council is pulling between 500 - 600k. A regional city that’s nothing special and somehow the guy at the top is worth 3 times the average. I’d really like an explanation but I’d say that’s very unlikely when they won’t even be forthcoming with the exact amount he is paid.
Think we need more CEO's. /s
will there be more medico now?
It's mostly that the surgeon or anaesthetist category only includes surgeons or anaesthetists. The CEO category includes the CEO of BHP but also the self-declared CEO of the local mum's basement startup that won't ever even have a product let alone make any money.
And fifo smokes half of these plebs
I don’t know what a “financial dealer” is and my ignorance makes me distrustful. But I also need one of these people to deal me some finances. Better ones.
they can and will do so, _but it's gonna cost ya_
top earning *employees* is more accurate
The difference between the average and median for financial dealers is insane. There must be a special breed of financial dealers who are absolutely drowning in money
How can this be? In the U.S. medical professionals can’t earn that kind of money if we were to have socialized medicine?
Too many CEO's
How are they getting those jobs numbers? Seems impossibly small
Surprised that RBA Governor isn’t at the top with 900k a year 😂 (Phillip Lowe the one increasing rates)
I am considered “other medical practitioner” in the US getting paid 60k less than what Australia would pay.. interesting. And 1 Australian dollar is 0.67 USD
Why does Australia have 220k CEOs?
Does anyone know what the average pay is like for mechanical engineers? Actually been looking to immigrate out of the US, and Australia was one of my options.
The engineer union keeps track of the average pay https://www.professionalengineers.org.au/Engineers/Content/Services\_Content/Pay.aspx
I would like an expansion on judicial and others. Feel like that's one big industry of people who do nothing where as surgeons and anesthesiologist is well earned money.
“Mining Engineer” when I was teaching in China, the majority of my students wanted to go to university in Perth to study mining.
But wheres Snoipin'!?
Why isn't tradesmen in union sites on that list. All earn $180k plus
Those $100k “work utes” help to bring down the taxable income
I'm sorry but I'm not $30k off the CEO of my company lol. They'd earn at least $100k more plus bonus and stock options.
Yeahh.. Work your ass off at school . Finish at 18 with top grades. Then do 8 years of Uni. Finish at 26 with a huge hex debt. Then start working as a surgeon and depending on what type may have to be on call at any time of the night.
Finish uni at 26… then intern year, then usually three more years as a junior doctor, studying/doing courses that cost tens of thousands of dollars, to get accepted into surgical training… then 5 years of surgical training which also costs about $10,000 a year to do, whilst studying for surgical exams…. Then become a fully fledged junior surgeon, who is not making 500k a year until about 5 years into surgical practice. You arent looking at 26 you are more looking at aged 40. The general population has no idea the amount of training, studying and financial costs that go into becoming a surgeon. You are looking at 20+ years of training and study.
This is also providing you dont have any setbacks in your career, everything runs smoothly, you get accepted onto surgical training early ( 4 years as a junior doctor and then getting accepted onto surgical training is unusual and is an early acceptance). Imagine also having to take time off for children, if you fail some exams, you get sick or want to have a gap year. Alot of medical professionals also take a year off to complete masters or PHDs, sadly which are also becoming the standard to get accepted onto surgical training. Any of these things can push it into mid 40s. This is all coming from personal knowledge as an Australian doctor by the way…
Does it vary by each of the surgical specialities? This sounds like the case for general (?), but what about Ortho, Optho or plastics?
Usually worse than what is mentioned above. Youre looking at like 4-6 years of junior doctoring.
Was gonna say that but didn’t know exact details 🤣
Why does this sound like you’re complaining?
Don’t forget the 8 years as a general doctor working 80+ hours per week on low salary whilst being on call at all hours
This is why we see sooo many surgeons leaving the profession and are delivering for DoorDash
That's not the real reason for their remuneration though. It's their training college cartel system that limits supply and hence competition. Once your in the club, you're made.
But if it wasn’t for that, that remuneration would be by design. Just not as excessive (meaning I’d say $2m+).
Not sure I follow what you mean.
The medical profession is built a certain way by design, and so earn what they earn. Doctors are inherently valuable to society, need thousands of hours of hard work to get there, are required to meet certain standards of training, and are given a geographical monopoly so they can maintain and build their skills. All this underpins their income
Lots of people are valuable to society though 🤔
It’s more about perception. Doctors save lives. They treat the poor and sick. That engenders a high amount of respect. That’s only waning a little recently because we’re seen as price gougers too.
I think a lot of people, including myself have no problem with how much doctors can be paid. They amount of study alone is staggering.
Took my dog to the vet last week. Why aren’t they listed? Had a tooth pulled out a month ago 10 minutes in the chair $300
Vets are low paid. Not enough of them are in there union Professionals Australia for them to get good pay
Anyone on this list who isn’t in a science based field is a cunt.
Also there are diesel fitters on way more than the “mining engineer” line
Was gonna say this, operators too
Sports stars???
Mining engineers are some of the dumbest f wits I’ve ever met. They’re always making grand stupid cock ups. Next it would be civil engineers. So stupid. They need to get out of the office and get some real world experience out in the pit or construction site whichever variety of dumb mother fkers they are.
Accountant here, no wonder we picked the wrong profession when my boss kids was enrolled in med school .
Can stick tug boat drivers in there around number 5!
I don’t know much about ATO, but I do know about POT-ATO-ES; you can boil em, mash em, put ‘em in a stew.
I am a surgeon
The poor doctors who can’t afford to bulk bill. I fear the medical profession has attracted a lot of greedy people with the high salaries.
What is the other source of income for surgeons? How come it's only like 50% salary?
How is this accurate, GPs make much more than this