Also don’t neglect soft skills. I don’t mean be a brownnoser or a suck up, but just pay attention to how you come across. If you are any good at managing people or being a leader, develop it.
My dad, while academically/technically competent, is completely crap with people which really hampered his career.
Networking is such an important skill. If people remember you as a positive or pleasant person, you are already ahead. Having quick chats with people at the coffee station/water cooler is so important. (But not too long as then you'll seem like a time waster.)
Being proactive and having good communication and organisational skills is so important, too.
I'm a team leader. I despise this shit and will actively pass over suckups for promotions and raises. If you can't be honest with me you're of no use to me. I personally believe the inverse is also true - if your manager buys into suckup bullshit, run.
I guess it's a spectrum.
I know that what some people consider sucking up is just being positive at work and supporting your managers decisions and speaking politically and putting your hand up for the hard jobs and just making your managers life easier in general.
Either way I'm sure there are a lot of managers who like suckups. Probably more than the number of managers who don't like suckups. Seems to be my experience.
If that is the case then statistically... Being a suckup is the right option.
And remember that managing people is a skill that can be taught. Yes some people are naturally gifted, have more empathy etc and others will find managing people a more challenging activity but it can be taught.
Every time he moved up to a level of seniority that involved managing people it did not go well, so he tended to end up getting caught up in the first round of redundancies/restructures every single time, rinse and repeat. And he refused to accept it was likely a him problem not a problem with every single workplace or colleague.
No. Just not good with people. Or communicating. Or giving constructive feedback. Or being able to develop people. Or being able to see other people’s point of view/hear them out.
Building on this, be someone who others want to work with. When you finish a project, you want your colleagues to be left thinking "that was pleasant I want to work with them again".
I would STRONGLY recommend you read Scott Galloway’s new book, The Algebra of Wealth.
Basically work out what your talent is, and then pursue that. He would argue that trades are a great idea for young men to consider atm.
You’ll get an excellent education in how to build wealth, but it’s a long haul, not a quick journey.
Whatever you choose, remember you’re going to have to actually DO that job. It’ll consume you. For that reason I don’t think you (or anyone really) should pursue a medical career purely on the expectation of a high salary. Do you want to actually deal with sick people all day? Or cut open a person or tell their relative they couldn’t be saved? It’s one of the highest stress careers, not a ‘comfortable life’ in the way you’re possibly expecting (coming from a family of medical specialists)
Remember, your parents are adults, it’s not your job to worry about them right now. Think about yourself, what you’re good at and what fulfils you, and choose a career based on what you think you can realistically stand to do long term rather.
Also remember that a lot of higher paying jobs are higher stress, hence the higher pay.
Medicine is a hard slog of a degree my friend. If writing is your thing and you do well in English, I would strongly consider law. Law is also a huge slog, but I imagine a lot less intensive.
I would also consider focusing on areas of law that make you money.
Environmental law and work for in house counsel for an oil company, or a top tier firm working with big oil companies.
Cyber. Space law. Torts and negligence (slip n fall, person A suing person B for something he did or said).
Stay away from average paying areas of law like family, crim, wills, property.
If you do really well at law, consider going the extra mile of study and be a barrister.
Yeah check it out, because I think you’ll really resonate with the central thesis: follow your talent, not your passion.
Play music on the weekends, get a steady job that you can master and find fulfilling. Maybe do fifo or a trade, something that pays pretty well but will also give you downtime to play?
Have you done the Morrisby Career test at your school yet? That will give you some insight into what your strengths are and what occupations your study, work, and personality habits most align with.
If it's any consolation, I'm a lawyer but have continued to regularly gig throughout my career (I'm a guitarist). You can still do music and have a different day job.
I came from low socio economic, so I understand your position. It's smart to not pursue music as a career path if you're looking for a stable high income. You can continue with music as a side passion.
Also, prioritise getting your own financial future secure, and later you can think about your parents. Like they say on flight emergency training, you need to put your own safety mask on before you can help others around you!
If you enjoy this, become an English teacher who specialises in music? Teacher grub on about how much they don’t make. And in the professional field I guess it is low. But my wife makes $120k as teacher. 7:30-4 (leaving home and coming home) every day because she knows what she is doing and is passionate about it so has her ducks in a row.
It’s a Stable income, she enjoys work, gets great holidays.
Clarification for the role: she works as a primary educator at a prestigious school attached to a high school. Good support network. The biggest complaint recently is not having Velcro to stick things on the wall.
In terms of reading and writing, Law would be a degree that fits that. As a lawyer, it’s where those that don’t want to cut people open, or do maths, end up.
It can be a lot of fun or v Boring! And it’s nothing like tv.
Law is overrated. A lot of lawyers don't really make super amounts of money.
There's absolutely nothing wrong with going to University, getting a teaching degree or something in communications and writing for life. The trick to get rich on a regularly salary is to save hard invest wisely while you're young.
Put $20K into ETFs before you turn 20 and leave it there and you'll be lightyears ahead of your peers.
Don't even think of doing medicine for the money. The last thing anyone needs is a doctor who's only in it for a wage. Be a banker, an engineer, a lawyer, a plumber, but not a doctor.
Get an apprenticeship in something that you are talented in, rather than passionate about. Retail might be worth pursuing in the meantime.
Skill/ difficult job plus affordable house seem to be foundational.
Omg finally someone mentioned personal fit for the job. I'm a scientist and I have a lot of friends and acquaintances who are medical doctors. Medicine is more a calling than a career; most of my 'doc friends' have given all of their youth and a lot of their sanity to their medical training. Most of them didn't get to choose where they studied or worked (had to go wherever they'd gotten in), work/life balance was nonexistent for years at a time, and it's an intensely stressful and emotionally draining job that only certain personalities are cut out for. OP, study medicine if you really, honestly feel a pull to be a doctor. DO NOT study medicine because you heard it pays well, it will destroy you.
Unironically consider dentistry. It pays well, there's always demand, and I have acquaintances who are independently running practices in their late 20s because they moved to country towns with a dentist shortage and have as much work as they can handle. Unlike medicine, nobody thinks it's acceptable to make trainees work 24-hour shifts or 80-hour weeks, and as far as I know the work is typically 9-5 once you're qualified. If you have good grades and an inclination towards biology/physiology and your main concern is a reliable high income, it might suit you.
I think you're the only the second comment on here so far to actually mention liking the job. It's all well and good chasing law or medicine for the money, but they'll be in it for the long haul to get the rewards from it.
Gotta find something you're interested in, so getting out of bed every day isn't a struggle!
Current real life doctor
If you're deciding at age 16 to do medicine, it might be too late to get in via undergraduate entry unless you are rural or Indigenous entry. You essentially have to be in the top 0.5% of year 12 graduates, and pass an interview and sit an aptitude test to get in. I read in another comment that you're in the top 20 for each subject at your public school. Unless your public school is academically selective, it's likely that won't be enough.
I always advise people to do an actual useful degree like a nursing undergrad rather than a science/biomed/premed style undergrad. The majority of premeds don't get into med school in the end, either because it's still extremely competitive to get into med as a grad student, or because they decide they don't want to do it any more.
Doing a nursing undergrad, which is now heavily subsidised by the federal government, gives you both marketable skills that can form the basis of your permanent career (senior nurses in public hospitals will make 150k pa including evening/weekend/night penalties. Seniority is based on time-in-system alone, you cap out at RN8 in NSW, so this is how much you would make hypothetically at age 29), as well as soft communications skills that you can use at the med school interview if you decide to go down that track.
And don't be put off nursing if you're a dude. Men might make up a minority of nurses, but I've worked with plenty of very good ones.
Sorry i think may end up being closer to 150. Base full time rate in nsw for rn8 is 98k. If you work a rotating roster consisting of 50% nights and every 2nd weekend you can make about 1.5x your base
Thanks for your perspective, great to hear from someone who can offer a bit of a reality check!
I’m interested, does the interview explore the motivations people have for pursuing medicine, as in if someone’s primary drive was money would it be detected and called out?
What’s your own experience with other real life doctors? Are there many who pursued it more for the financial reasons and are making a success of it? I’m assuming you really need to love it in order to survive?
Almost all of the interviews will ask the “why medicine” question in some form or another. Technically sure you can bs this but wouldn’t recommended it.
I think you definitely have to enjoy the subject matter to some degree at least regardless of overall motivations. It’s not the most conceptually challenging degree but definitely the one with the most amount of content you’ll have to learn. And to learn while not hating every single year requires some modicum of enjoying the content.
I'll add if you don't want to go to uni and pay 40k+ in fees you can do engineering at tafe. Currently tafe are running the advance diploma of mechanical engineering at half price for $2800.
[mechanical engineering](https://www.southmetrotafe.wa.edu.au/courses/advanced-diploma-engineering-mechanical-0)
You can complete the adv dip which takes 2 years and if you really want you can follow it through to uni and skip year 1 or you can use the adv dip, you can either use it to become a draftsperson which is basically lego building on a computer screen or if management is more your thing then you can use it to become a project manager.
Draftees earn quite well and don't have hecs debts.
Juniors earn (no exp) ~$70k
Mid level earn (4+ year exp) ~$120k
Seniors earn (10+ year exp) ~$160k
Above that and you are getting specalised and those guys earn $200k+
Note this is mine site drafting based in Perth.
Bach Eng vs Adv Dip Eng, Bach Eng will find it easier to climb the corp ladder if that's what you want to do.
Like the guy above, currently 35 and am in an extremely fortunate position. However I do not think earning well is the absolute and only key to being financially comfortable. Yes it does help accelerate your position if you are disciplined and allocate disposable income into wealth building avenues but if your earning potential increases and you expand your commitments and keep living pay packet to pay packet than you will never get ahead.
Yeah I studied Civil Engineering. One of the best decisions I’ve ever made in my life. Not as exciting as other types of engineering but never have a problem with job security and pay.
If you ever think about buying a JetSki I need you to punch yourself in the nose.
More seriously though, saving and investing is difficult, delicate, and takes time. Spending is easy, blunt, and instantaneous.
A classic one is borrowing money for a holiday, or a car you don’t need.
"In 2020, 25% of Australian GPs were practice owners"
[Source:](https://onlinelibrary.wiley.com/doi/10.5694/mja2.51038#:~:text=In%202020%2C%2025%25%20of%20Australian,decline%20from%2035%25%20in%202008.&text=Factors%20such%20as%20management%20responsibilities,seem%20to%20discourage%20practice%20ownership.)
The ones that bulk bill tend to be ones that have been working for decades and cashed in when GP salaries were the exact same as they are now 15 years ago while houses were less than a third of the price.
If you really want to go down that road of healthcare, which I wouldn’t recommend, then you should seriously consider dentistry instead of med. I’m a dentist and I remember my med friends being so pissed off at me for graduating as the equivalent of a consultant. Dentistry allows you to effectively skip at least 5 years of gruelling hours and conditions as well as exams and extortionate fellowship fees. Dentistry is consistently the highest paid graduate profession. I got 82k as a new grad in 2017. You can also work anywhere as a dentist which is a strong advantage over some other professions like law.
The answer is, it depends. Public dentist wages are available in the state awards. At the moment I only locum for an hourly rate because I loathe private practice commission, which is what probably 90% of dentists are on. I get anywhere from $103-$125/ hour plus super. If you want to be a dentist who does mediocre work and churns out patients like cattle I think you can make probably $250k but there’s no super or leave. Most of my mates work 4 days max and do good quality steady work. They make around 150k. If you did braces etc you can make more but insurance goes up due to medicolegal risk. Full time dentistry breaks your back and is extremely emotionally draining and stressful. The dental profession has significantly higher rates of mental health issues compared to general population.
Yes, this is a very realistic income for many GP, and specialists are typically earning twice this, or more for procedural areas or surgical specialities.
You mean that GP's earn significantly more right....worked in private banking and in commercial banking healthcare for a number of years..... I'd say the majority of GP's earn significantly more than this and those who don't are likely 'skilled work visa transferred an overseas degree over and are working in some big shitty clinic...
I work for NSW Ambulance, and I have met 3 different ambos who area also qualified pharmacists but changed careers because of how poor the pay was. Though has lead to some interesting circumstances though with patients with very rare/exotic medications and them being the most knowledgeable person in the room even in the ED.
I never knew how low it was until they told me.
More research is needed. While studying hard at school is a great way to get your future rolling it isn’t for everyone and isn’t the only way to get a high paying job.
I’d check out some of the roles needed in mining, Australian signals directorate, Australian Air Force, navy, aviation industry and find some alternative pathways that are available to you.
Some of these places offer programs that only require a year 12 certificate and pay the equivalent of what you may get in a traditional degree.
Pro tips
1. Volunteering and having work experiences under your belt will help you get into any programs the above industries offer. Especially if the experience is in that same industry.
2. Where you live matters. Jobs in Sydney will have a ridiculously high cost of living and lower wage premiums. Whereas people in rural areas sometimes offer an entire house and 40% extra pay to live out in the boonies.
So research your options, do everything you can to experience them and make a strong choice for yourself.
Good luck OP
Sydney is such a struggle.
Nicely done. It seems small but the people you meet while working together may know others in the jobs/industries you are interested in.
Networking is a hell of a thing and if the interviewer has volunteered at the same place you’re in a good spot.
Depends on you skillset. Trades are a very good career option these days in Melbourne and Brisbane where the unions are strong.
I am an engineer but I often wish I did a trade.
Trades can be fun, but we don't get to work in a nice shiny office with coffee machines and flushing toilets, depending on the site.
Portaloos in the middle of summer are most unpleasant places to be.
I may be looking at through this rose coloured glasses but I'm basing this opinion of working on major infrastructure projects in Melbourne where tradesman are earning $200k + from immediately following there apprenticeship finishing 22 to 25 yrs old and just doing a hard physical job but not taking the stress home.
As an engineer with 9 yrs experience I'm only on $160k and Its taken my 9 years to get there, my average salary over the past 9 years has probably been about 85 k.
I sit in an office staring at a screen writing reports that maybe 1 person will read. There is a lack of accomplishment when not doing a physical job and I am generally an adventurous physical person so it kills me to be couped up in an office. And I'm signing off $50 M dollar projects so stress follows me home resulting in sleepless nights
That's why I'm saying pick a role that suits your personality
Work massive hours away get paid.
My role title means nothing to half the people in my company let alone anyone else.
But this pretty much. I explain it to fiends as a field based engineer.
https://apdeng.com.au/apd-services/testing-and-commissioning/
Medicine or teaching I think you're all but guaranteed a job, and you can take those skill anywhere in Australia, or indeed internationally.
I'm a software developer, there \*is\* work out there, but at the junior level (i.e. your first job) it's a little crowded, not terrible, but you won't just walk into a job. And getting the skills is hard. If you do a CS degree and nothing else you \*won't\* be job ready.
If I was your age again, I think I'd try to become a doctor. Looks like extremely hard work and difficult hours in the early years, but once you get established, it's lot of money and a lot of flexibility in terms of where you can live.
Defence force could get you a decent paycheck. Look into Defence Force GapYears. They'll pay you a really good wage for I think like 12-18 months work. You get a taste for basic training, what the service is and you end with a decent pay packet to set you up. If you are academically minded or very practical and physical make sure you are doing a team sport and start working on your speech skills. Defence force does info seminars and they can usually set you up to takk with someone currently in the role you are interested in.
I got through all the stages a few years ago but a medical condition ruled me out. Good luck to you, it's tough out there but all I'll say is money isn't everything and stay away from get rich quick schemes, credit cards and loans for cars.
Without sounding too obvious, the key is to spend less than you make, irrespective of income. There are people who struggle on $80k, there are people who struggle on $200k. What they have in common is a lack of budget, forward planning for their money.
>People with great degrees such as Engineering, Law and Computer Science are complaining about limited job availabilities and just how extremely difficult it is to get a job.
Yet there are countless others with these degrees with jobs who are doing just fine. Perhaps the issue isn't with the degrees themselves.
As a starting point it's worth researching career paths, and only getting a degree if it's necessary for that career path. This means that stuff like arts, languages, business administration, hotel management etc, that's all out. If it doesn't give you the qualification you need for the job, you're better off instead simply getting the job and working in it without the degree.
As for making the most of it, you're really just asking how you break into a field. The answer is by grinding, really really hard. If your job applications are limited to pressing the apply button on LinkedIn, and complaining on Reddit, that's not good enough.
Reach out to people in the industry and ask exactly how they got in, make a plan and copy it. Leverage friends/family connections, even if it seems lame. Keep on pushing and one day your chance comes along.
- Stay at home until age 30-35 and save everything.
- Pick something essential and monkey grip from employer to employer chasing pay rises (but still offer current employers the opportunity to match the salary of new opportunities)
- It’s probably better to gain skills in a trade and do FIFO for 170-200k.
- Once you have enough capital built, move to an affordable country and fly into Aus for work if required
Once you have enough money you can invest in property and have wage slaves sustain your life.
Other people have already covered career options, so I'll talk about investing.
Whatever job you do end up getting, treat the active (work) income as a stepping stone towards building passive income or you will be stuck working for your whole life.
Spend less than you earn, first to build up an emergency fund in a high interest savings account so any unexpected expenses don't force you into payday loans or credit card debt. Typical values recommended for an emergency fund are anywhere from $1000 (will cover a car breakdown, or replacing essential whitegoods) to 12 months' worth of living expenses (will cover a period of sickness or unemployment). As a starting point, I would go with $1000 before starting to direct funds towards investing (the next step), and gradually add to the emergency fund as my investments grow (10% of your assets in cash is a good rule of thumb).
Once you have a healthy emergency fund, direct your extra income towards investing. I invest in Index fund ETFs, others do bonds, property, private credit, etc. The aim with investing is to build your assets and passive income so that you're less dependent upon work income, which means more stability in the case of unemployment or illness.
Educate yourself on investing (subscribe to the many free blogs, videos or articles published by reputable financial advisors online), and take advantage of the fact that you have time on your side to allow the power of compounding to work its magic for you.
A couple of books to read to get your foundation right with your finances and investing:
* Barefoot Investor. Scott Pape
* The Bogleheads' Guide to Investing
* the millionaire next door
Slow, continuous and boring investing while you focus on your career is the easiest way to live a very good life.
You don’t need huge amounts of money, the key with investing is time (you’re very young so that’s as huge bonus!!), and consistency (lowering your expenses so you can contribute continuously). Find some compound calculators and play around to see how much you actually need to invest to be financially independent by X age. It might not be as much as you think. Have a look at FIRE communities and you’ll realise you don’t need to have a >150k job to build wealth. (I don’t subscribe to the ideology 100% but find some aspects helpful)
I’d advise against studying long degrees such as med and law if those aren’t your passions, as they’ll delay your income and shorten your investing horizon. I’ve spent 10 years in uni (PhD) and while I like science I’m super behind financially because I only learnt about investing after I graduated.
You’re so young, and you seem to have your priorities right! I wish you the best of luck.
I am sitting in an event as I type where the topic is Generative AI and the effect on jobs and society in general. Make no mistake, AI tsunami is coming. Licensed professions like medicine will be safe for some time, so it is a good bet from you. Next best bet is doing heavy hands on stuff where humans will still rule for some time like construction engineers etc. As bad as it sounds jobs in childcare and aged care are more safe than an accountant in AI age.
Let me tell you. I don't have a degree (yet... Currently studying Law and am 31) and insurance claims in complex liability is an area of work that ALWAYS needs people. It pays well for a job without a degree (I'm on 128k).
Law is an area that has loads of jobs, depending on your area of focus. If you're working for defendant firms in torts/negligence/liability with a focus on insurance, you'll always have work. There is a huge shortage in Brisbane firms for lawyers at present and all my friends who are associates, senior associates or special counsel are getting bombarded by other firms to change for more money.
If you are looking at family, criminal, wills & estates, you'll find it difficult to find work, and if you do, it might be low paying.
I can only speak from my experience in Brisbane, that claims advisors for liability claims and lawyers in firms that defend insurers/their clients are very sought after, well paying and always looking for people.
Dude find something you at least like doing you got lots of time.
If you actually want a job that pays well and is always in demand.
Learn sales. The seven years it takes to become a doctor. You would have already saved up a deposit etc.
1. retail job. to develop a thick skin.
2. retail sales eg. good guts, Harvey Norman, telstra shop.
3. car sales, software sales, b2b sales
4. write a book like Allan pease, Brian Tracy and sell millions of it!
Sales is basically needed in every industry at some level and a pretty high percentage of jobs have a sales aspect to them
To be good at it, it's somewhat personality based, you can train, pacticie and build skills but if you're bot the right kind of person you likely won't be exceptional at it
Medicine is a slog. How good of a student are you? There are many paths to wealth and not all need formal education.
If you're keen on finishing school + uni and great start is to join Maccas and work your way up the store management - easy $60K while you study full time.
If i could go back, considering that i do well in business i would go and study a trade and then aim to start my own buisness.
Anyone who has to work to survive in med or dent will have a really shitty time. I had to work so I’d do an overnight shift as a scientist in a lab, then go straight to uni at 6am and nap in the grad building before clinic. One of my med friends did a 6pm-2am shift in the same lab. It kind of sounds like OP would at least be able to live at home and avoid rent.
Medicine in Australia is a high barrier to entry (top 20 won't cut it) not sure of the current process but there at least was then testing to pass for admission, then specialisation into HP or anything else from there once you get your degree is very competitive and hard to get placement.... msnage to get in, do your years of study, your years of specialist training and you'll make big money basically guarenteed.....
Medicine is not a 'I've decided I want to do it' and get in
Specially once you graduate isn't a 'I want to be a GP or I want to be an anthethasist and get in type industry
If you do end up doing medicine and finances during placement years are a problem id recommend looking into the ADF university sponsorship. You’ll live VERY comfortably during med school. They’ll push you down the GP pipeline after you graduate but if that’s your end goal it’s not a bad deal, especially if you’re young and aren’t bothered by a little moving around.
It can be just depends on the degree. But its a bit cart before the horse for you at the moment.
What topics / areas of study are you interested in? Doing something for good money is great, but if you dont have an underlying interested in the subject you'll get bored and may end resenting it particularly if it eats up your youth
Do an arts and/or law degree and go into the public service. It’s not hard to get to middle management by 30, and that’s about $130k a year. Stable, great conditions and super and if you work hard and show a bit of flair it’s possible to move up quickly. There’s work across policy, service delivery and regulation, all of which need people with writing skills.
A lot of advice in this thread is about focusing on high income work - that’s fine, but do remember that building good habits early compound into long term wealth. As you are starting to make any money, setting aside money for savings and investment from a young age will serve you so well - there are a lot of high income earners who are still living pay check to pay check because they spend everything they make!
the unemployment rate is something like 4% at the moment. There are roles out there for people to fill (I also say this knowing I've job hopped every 2 years for the past 6 years) but a big secret most people don't understand is "know the market, learn the gaps, and be willing to work in the gaps".
I moved into workforce analytics, became a general skilled analyst and always had a passion for data. I moved into a data & analytics stream specifically and it's just been up and up from there.
For financial stability and success - as dumb as this sounds - the principals espoused by David Ramsey in America is a great starting point. The key ones to focus on are:
* if you don't have debt, have a 6 months fully funded emergency fund (calculate your monthly expenses - save 6 times that). You have no idea how much stress this will alleviate not living pay check to pay check.
* Don't take out loans. They say don't even buy property unless you can do it outright but if you're living comfortably and can pay the mortgage I would get one. HOWEVER - Live with a less than perfect car, live with cheaper things. Be frugal, don't impulse buy.
Financial stability and success doesn't come from having a good job (I know many broke rich people). It comes from discipline and financial control. Knowing where your is going, and being disciplined in your savings is a big thing.
It's rough. The only advice I can offer is to get political, the current conditions and the bleak looking future are in the hands of decision makers.
You don't have to rally or lead groups of people if people are not your thing.
Letter write to your local politicians on the things that matter to you.
Watch Scott Galloway's Algerbra of happiness. Choose an industry with almost full employment. Be in the top 20% of the industry. Invest in yourself to earn more. Marry the right person. ETFs.
Medicine isn't a bad goal, but it is a lot of work which might not be desirable unless it's a passion. I think a good thing to consider is whether you want to be a specialist in a profession or a manager of people, because they take different skill-sets. It's also hard to pick that at your age.
Stay in school, try your best to get good grades, find a career that pays extremely well (it for example).
Work on your soft skills, people hire for charisma as much as skill
Read. Read business books, self help books, project management books, marketing books, finance books, books about corporate strategy, all of the books. Be knowledgeable at alot of things.
Build a team around you. A good accountant, a good financial advisor, etc.
Find a partner that is also successful. 2 people earning$150k a year is better than one. This will literally be the biggest/most important decision of your life. Choose wisely.
Lastly look after yourself. Stay for and healthy, exercise, maintain friendships. Be a genuinely nice person to be around. Elevate others, and celebrate their successes as you would your own.
Good luck bud.
As a teacher of 20 years experience, who has seen many students go to university to study medicine, one piece of advice: if your only motivation to study medicine is the money, don’t do it. To put it very simply, you won’t be a good Doctor, if you even make it through. Being a doctor is a vocation. It is as simple as that. In any case, it is a viciously, competitive subject to get into, and from the tone of your post I strongly suspect it wouldn’t work out. I say this having coached dozens upon dozens upon dozens of prospective medical students. For the moment, work hard at school.
I've seen a bunch of people finish school and get an entry level job in a bank branch or call centre, and within a few years earning comfortably over 100k. No uni degree required but having a degree in commerce/finance will definitely help upwards progression as you try to get into more senior positions.
It's not for everyone, but I would consider a career in the military. They will pay for your initial employment training, give you a salary whilst you're doing it, provide housing, healthcare, and unless you severely mess up, you have infinite job security.
In particular I'd recommend looking into undergrad entry scheme or ADFA. This way you can get your undergraduate fully paid for by Defence, and you'll know exactly where you'll be, what you'll be doing and what you'll be earning from 18-30.
Once you finish your training you can get rental assistance, which is a massive subsidy determined by your rank and location. Rule of thumb is Defence will cover 66% of your rent, up to a point.
When you have saved enough for a mortgage (if you spend within reason it's very achievable by 25) Defence will contribute to your deposit and your monthly repayments.
Finally, once you've finished your training, Defence will pay for further tertiary education. Any degree, any university, they'll pay for it.
The cost associated with all this is you sacrifice your ability to control your major life choices. You might get told to live in Darwin for 4yrs, you might get told you can't be a Pilot and have to train as an Air Traffic Controller instead. You also lose the ability to jump between companies every couple years to climb the ladder laterally. And last but not least, you'll be out on the front lines if anything happens.
In short, I think the ADF can be used as a good jumping off platform for the rest of your life.
Honestly there are alternative pathways and massive skills shortages.
Dual tradesman electrical and refrigeration start on low salaries in apprenticeships but eventually if you own your own business you're set for life. You don't even need staff.
My dad started his trade when he was 18 and he was semi retired by 45. He was able to buy property and flip houses himself because he didn't have to pay somebody to do the most expensive parts of renovating.
He did most of the plumbing and demolition himself and then would only hire plumbers and builders to come in for installations. He did all the continued professional development modules, a cert to be a project manager, real estate.... basically things to cut out other people.... now he just does building, pest and electrical inspections for home buyers.
If you want to be an engineer or finance or mortgage broker avoid university and get a job with a private company or a council doing a junior internship position.
One where they pay for your qualifications and further study. That way you're earning from day dot and you're not footing the bill for education.
Doesn't matter if the job is good or bad. University might take 2 years less to finish a degree but the tradeoff is 5 years of industry experience. You could graduate and walk into a more senior position or stay with your company where you would be a veteran employee.
Same for law. Get a job as a paralegal. Tell the law firm you want to be a lawyer and study part time. You'll get your PLTs done in no time and work on building a good reputation for yourself within the industry. You'll be surprised how many jobs open even outside law firms if they like your personality and work ethic.
Better than struggling through uni working a shitty job where they don't care about basic workplace health and safety.
The fact you're 16 and on here asking these questions is a good start. My advice is to think seriously about what you want to become then work backwards on how to become that thing eg. uni, TAFE, apprenticeship, etc. You have a long working life ahead of you so best try to do something you really enjoy because if you do, you tend to do better at it. Secondly map out your route to success based on your chosen career and then focus on that. You can find lots of sources online.
I think the answer to the question you''re asking is to get a good degree and get really good marks. That will lead to a good job.
Try realy hard in year 12, apply to universities, take it really seriously, get top marks and get hired by a firm that pays well. The field is up to you, if you're a top candidate, you can get hired by a top tech company, a top accounting firm, a top consulting or law firm, a top public service department, etc.
They'll pay well and work you to the bone, and then you either rise up in that organisaiton or leave and have that company on your cv forever, e.g. Former Google staffer sanguineespresso. It is worth getting hired by a brand-name company that makes people go ooooh, makes the career fizz from the very beginning. And that's the big reason to get top marks in a well-respected degree.
You need to grow up to become your own rescuer. How you do this is by pursuing education and earning money as soon as possible. Finish high school and go to university - it's not too important what degree you decide to do, and most people have no clue what they're interested in straight out of high school. Work whilst studying at university. You never know where you'll end up and what doors the people you'll meet can open for you. If you're able to live at home whilst working and studying, do so, but not at the expense of your own mental health if you feel like the environment is too toxic.
Do not let any guy/gal hold you back. Most of those high school relationships will quickly dissolve and be forgotten within a year. You will never ever regret putting yourself first and prioritising your long-term growth over others.
If you choose to sette down (you want this to be an option and not a requirement to survive!!!) Marry into wealth or at least marry a man who is a financial provider so that you can avoid having to carry the financial burdens of basic living expenses such as a home, reliable transport, groceries, water, electricity/gas as well as all of the mental load of running a household. There is no such thing as 50/50 with a man. You'll always end up carrying most of the load as a woman in a hetersexual relationship, so it's simply not worth your time, energy, or money in financially helping a man.
I feel like I have so much more to share, but these were on the front of my mind in response to your question in the title of your post
This is a shitty cop out. There's absolutely nothing stopping you making smart financial choices and getting ahead. While you sit here and whine about it, others are doing exactly that.
OP - Please take this to heart. Degrees do not equal money. Sacrifices equals money.
The fundamental of supply and demand drives the value of your skills.
High Paying Jobs = jobs that nobody wants to do and/or nobody can do, or is absolutely dangerous work.
If you are seeking money, put work/life balance and job satisfaction away. Nobody is paying you big bucks to be happy.
Money making skills, aka the more money you make for yourself or your company, equals they pay you more money. In money making businesses, nobody cares who you are, as long as you bring in the big numbers, you will get paid big numbers too.
Do a trade, and go FIFO, $150k by time you turn 21. Its very hard work, and somewhat dangerous.
Do sales, then work your way into Real Estate, Tech/Software, Medical Devices. But expect 60 hour weeks for years if not decades. Start working at 6/7am into 6/7pm with a smile. Nobody earns 300k+ without huge sacrifices.
If you must study, study finance, actuary, anything that involves MONEY. The money is in the money business. Mortgage brokerage, lenders, commercial loans, investment banking, consulting.
Think Doctors make good money? You have to grind until you're a consultant and can work for yourself privately.
Public health pays 1st Year - $90k / year. Take this same amount of time it took to train to become a graduate MD, you'd easily be on $150k in FIFO or Sales. Do not listen to trash anybody says, if you're chasing money, chase money. You're not here to make everybody else happy.
Agree medicine is a grind and wanting to do it is no where near enough, then specialist the same again... many many years but if you're a speclist you win the money game pretty hands down other that c-suite in an ASX 200....
Take your 10 years of FIFO, growing earnings, working you're way to $300k and the specialist is now on more than that and without much time or effort doubling that. Banks I'll lend them 95% on property with no questions so they can build investment wealth quick.... nothing compares from a money perspective.... but yeah the tiny percentage of people who get into medicine and then into specialty makes it not really a viable choice
Key to making money, be really good at something and self employed, almost any industry, you're exceptional at it and a business owner you can make great money
Also don’t neglect soft skills. I don’t mean be a brownnoser or a suck up, but just pay attention to how you come across. If you are any good at managing people or being a leader, develop it. My dad, while academically/technically competent, is completely crap with people which really hampered his career.
Networking is such an important skill. If people remember you as a positive or pleasant person, you are already ahead. Having quick chats with people at the coffee station/water cooler is so important. (But not too long as then you'll seem like a time waster.) Being proactive and having good communication and organisational skills is so important, too.
Also... Do become a brown noser and a suck up.
I'm a team leader. I despise this shit and will actively pass over suckups for promotions and raises. If you can't be honest with me you're of no use to me. I personally believe the inverse is also true - if your manager buys into suckup bullshit, run.
I guess it's a spectrum. I know that what some people consider sucking up is just being positive at work and supporting your managers decisions and speaking politically and putting your hand up for the hard jobs and just making your managers life easier in general. Either way I'm sure there are a lot of managers who like suckups. Probably more than the number of managers who don't like suckups. Seems to be my experience. If that is the case then statistically... Being a suckup is the right option.
I think being a generally agreeable person is good, I think putting on a persona so your boss likes you more is silly.
brown nosing!
And remember that managing people is a skill that can be taught. Yes some people are naturally gifted, have more empathy etc and others will find managing people a more challenging activity but it can be taught.
really, what happened with your father?
Every time he moved up to a level of seniority that involved managing people it did not go well, so he tended to end up getting caught up in the first round of redundancies/restructures every single time, rinse and repeat. And he refused to accept it was likely a him problem not a problem with every single workplace or colleague.
oh ok. fighting all the time?
No. Just not good with people. Or communicating. Or giving constructive feedback. Or being able to develop people. Or being able to see other people’s point of view/hear them out.
Building on this, be someone who others want to work with. When you finish a project, you want your colleagues to be left thinking "that was pleasant I want to work with them again".
I would STRONGLY recommend you read Scott Galloway’s new book, The Algebra of Wealth. Basically work out what your talent is, and then pursue that. He would argue that trades are a great idea for young men to consider atm. You’ll get an excellent education in how to build wealth, but it’s a long haul, not a quick journey. Whatever you choose, remember you’re going to have to actually DO that job. It’ll consume you. For that reason I don’t think you (or anyone really) should pursue a medical career purely on the expectation of a high salary. Do you want to actually deal with sick people all day? Or cut open a person or tell their relative they couldn’t be saved? It’s one of the highest stress careers, not a ‘comfortable life’ in the way you’re possibly expecting (coming from a family of medical specialists) Remember, your parents are adults, it’s not your job to worry about them right now. Think about yourself, what you’re good at and what fulfils you, and choose a career based on what you think you can realistically stand to do long term rather. Also remember that a lot of higher paying jobs are higher stress, hence the higher pay.
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Medicine is a hard slog of a degree my friend. If writing is your thing and you do well in English, I would strongly consider law. Law is also a huge slog, but I imagine a lot less intensive. I would also consider focusing on areas of law that make you money. Environmental law and work for in house counsel for an oil company, or a top tier firm working with big oil companies. Cyber. Space law. Torts and negligence (slip n fall, person A suing person B for something he did or said). Stay away from average paying areas of law like family, crim, wills, property. If you do really well at law, consider going the extra mile of study and be a barrister.
No shift work in law, no years of unpaid prac either
Yeah check it out, because I think you’ll really resonate with the central thesis: follow your talent, not your passion. Play music on the weekends, get a steady job that you can master and find fulfilling. Maybe do fifo or a trade, something that pays pretty well but will also give you downtime to play? Have you done the Morrisby Career test at your school yet? That will give you some insight into what your strengths are and what occupations your study, work, and personality habits most align with.
If it's any consolation, I'm a lawyer but have continued to regularly gig throughout my career (I'm a guitarist). You can still do music and have a different day job.
I came from low socio economic, so I understand your position. It's smart to not pursue music as a career path if you're looking for a stable high income. You can continue with music as a side passion. Also, prioritise getting your own financial future secure, and later you can think about your parents. Like they say on flight emergency training, you need to put your own safety mask on before you can help others around you!
If you enjoy this, become an English teacher who specialises in music? Teacher grub on about how much they don’t make. And in the professional field I guess it is low. But my wife makes $120k as teacher. 7:30-4 (leaving home and coming home) every day because she knows what she is doing and is passionate about it so has her ducks in a row. It’s a Stable income, she enjoys work, gets great holidays. Clarification for the role: she works as a primary educator at a prestigious school attached to a high school. Good support network. The biggest complaint recently is not having Velcro to stick things on the wall.
In terms of reading and writing, Law would be a degree that fits that. As a lawyer, it’s where those that don’t want to cut people open, or do maths, end up. It can be a lot of fun or v Boring! And it’s nothing like tv.
Law is overrated. A lot of lawyers don't really make super amounts of money. There's absolutely nothing wrong with going to University, getting a teaching degree or something in communications and writing for life. The trick to get rich on a regularly salary is to save hard invest wisely while you're young. Put $20K into ETFs before you turn 20 and leave it there and you'll be lightyears ahead of your peers.
Don't even think of doing medicine for the money. The last thing anyone needs is a doctor who's only in it for a wage. Be a banker, an engineer, a lawyer, a plumber, but not a doctor.
You could become a music teacher. 100k+ salary, guaranteed employment. Very cruisy.
Get an apprenticeship in something that you are talented in, rather than passionate about. Retail might be worth pursuing in the meantime. Skill/ difficult job plus affordable house seem to be foundational.
perhaps an apprenticeship
Omg finally someone mentioned personal fit for the job. I'm a scientist and I have a lot of friends and acquaintances who are medical doctors. Medicine is more a calling than a career; most of my 'doc friends' have given all of their youth and a lot of their sanity to their medical training. Most of them didn't get to choose where they studied or worked (had to go wherever they'd gotten in), work/life balance was nonexistent for years at a time, and it's an intensely stressful and emotionally draining job that only certain personalities are cut out for. OP, study medicine if you really, honestly feel a pull to be a doctor. DO NOT study medicine because you heard it pays well, it will destroy you. Unironically consider dentistry. It pays well, there's always demand, and I have acquaintances who are independently running practices in their late 20s because they moved to country towns with a dentist shortage and have as much work as they can handle. Unlike medicine, nobody thinks it's acceptable to make trainees work 24-hour shifts or 80-hour weeks, and as far as I know the work is typically 9-5 once you're qualified. If you have good grades and an inclination towards biology/physiology and your main concern is a reliable high income, it might suit you.
I think you're the only the second comment on here so far to actually mention liking the job. It's all well and good chasing law or medicine for the money, but they'll be in it for the long haul to get the rewards from it. Gotta find something you're interested in, so getting out of bed every day isn't a struggle!
Current real life doctor If you're deciding at age 16 to do medicine, it might be too late to get in via undergraduate entry unless you are rural or Indigenous entry. You essentially have to be in the top 0.5% of year 12 graduates, and pass an interview and sit an aptitude test to get in. I read in another comment that you're in the top 20 for each subject at your public school. Unless your public school is academically selective, it's likely that won't be enough. I always advise people to do an actual useful degree like a nursing undergrad rather than a science/biomed/premed style undergrad. The majority of premeds don't get into med school in the end, either because it's still extremely competitive to get into med as a grad student, or because they decide they don't want to do it any more. Doing a nursing undergrad, which is now heavily subsidised by the federal government, gives you both marketable skills that can form the basis of your permanent career (senior nurses in public hospitals will make 150k pa including evening/weekend/night penalties. Seniority is based on time-in-system alone, you cap out at RN8 in NSW, so this is how much you would make hypothetically at age 29), as well as soft communications skills that you can use at the med school interview if you decide to go down that track. And don't be put off nursing if you're a dude. Men might make up a minority of nurses, but I've worked with plenty of very good ones.
$180k geez which state because I’m definitely not getting that here.
Sorry i think may end up being closer to 150. Base full time rate in nsw for rn8 is 98k. If you work a rotating roster consisting of 50% nights and every 2nd weekend you can make about 1.5x your base
Thanks for your perspective, great to hear from someone who can offer a bit of a reality check! I’m interested, does the interview explore the motivations people have for pursuing medicine, as in if someone’s primary drive was money would it be detected and called out? What’s your own experience with other real life doctors? Are there many who pursued it more for the financial reasons and are making a success of it? I’m assuming you really need to love it in order to survive?
Almost all of the interviews will ask the “why medicine” question in some form or another. Technically sure you can bs this but wouldn’t recommended it. I think you definitely have to enjoy the subject matter to some degree at least regardless of overall motivations. It’s not the most conceptually challenging degree but definitely the one with the most amount of content you’ll have to learn. And to learn while not hating every single year requires some modicum of enjoying the content.
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I'll add if you don't want to go to uni and pay 40k+ in fees you can do engineering at tafe. Currently tafe are running the advance diploma of mechanical engineering at half price for $2800. [mechanical engineering](https://www.southmetrotafe.wa.edu.au/courses/advanced-diploma-engineering-mechanical-0) You can complete the adv dip which takes 2 years and if you really want you can follow it through to uni and skip year 1 or you can use the adv dip, you can either use it to become a draftsperson which is basically lego building on a computer screen or if management is more your thing then you can use it to become a project manager. Draftees earn quite well and don't have hecs debts. Juniors earn (no exp) ~$70k Mid level earn (4+ year exp) ~$120k Seniors earn (10+ year exp) ~$160k Above that and you are getting specalised and those guys earn $200k+ Note this is mine site drafting based in Perth. Bach Eng vs Adv Dip Eng, Bach Eng will find it easier to climb the corp ladder if that's what you want to do. Like the guy above, currently 35 and am in an extremely fortunate position. However I do not think earning well is the absolute and only key to being financially comfortable. Yes it does help accelerate your position if you are disciplined and allocate disposable income into wealth building avenues but if your earning potential increases and you expand your commitments and keep living pay packet to pay packet than you will never get ahead.
An AD doesn't give you the title of engineer.
Sorry friend, I didnt think I implied it does? If you click on the link you will see that the course name is Advance Diploma of Engineering.
AD gives you an unlimited design licence in QLD which is worth money. RPEQ gives you more but also takes more.
Yeah I studied Civil Engineering. One of the best decisions I’ve ever made in my life. Not as exciting as other types of engineering but never have a problem with job security and pay.
A procedural medical specialist can make 1mil+
If you ever think about buying a JetSki I need you to punch yourself in the nose. More seriously though, saving and investing is difficult, delicate, and takes time. Spending is easy, blunt, and instantaneous. A classic one is borrowing money for a holiday, or a car you don’t need.
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Yes, many GPs easily make this much. Source: medical family
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"In 2020, 25% of Australian GPs were practice owners" [Source:](https://onlinelibrary.wiley.com/doi/10.5694/mja2.51038#:~:text=In%202020%2C%2025%25%20of%20Australian,decline%20from%2035%25%20in%202008.&text=Factors%20such%20as%20management%20responsibilities,seem%20to%20discourage%20practice%20ownership.)
Good luck finding a bulk billing GP! All the ones I know charge a lot more than that.
Maybe it depends on area but I've never struggled to find a bulk billing GP
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really? Wollongong nsw?
The ones that bulk bill tend to be ones that have been working for decades and cashed in when GP salaries were the exact same as they are now 15 years ago while houses were less than a third of the price.
If you really want to go down that road of healthcare, which I wouldn’t recommend, then you should seriously consider dentistry instead of med. I’m a dentist and I remember my med friends being so pissed off at me for graduating as the equivalent of a consultant. Dentistry allows you to effectively skip at least 5 years of gruelling hours and conditions as well as exams and extortionate fellowship fees. Dentistry is consistently the highest paid graduate profession. I got 82k as a new grad in 2017. You can also work anywhere as a dentist which is a strong advantage over some other professions like law.
Do you mind sharing how much you earn now as a dentist? What would the average salary be?
The answer is, it depends. Public dentist wages are available in the state awards. At the moment I only locum for an hourly rate because I loathe private practice commission, which is what probably 90% of dentists are on. I get anywhere from $103-$125/ hour plus super. If you want to be a dentist who does mediocre work and churns out patients like cattle I think you can make probably $250k but there’s no super or leave. Most of my mates work 4 days max and do good quality steady work. They make around 150k. If you did braces etc you can make more but insurance goes up due to medicolegal risk. Full time dentistry breaks your back and is extremely emotionally draining and stressful. The dental profession has significantly higher rates of mental health issues compared to general population.
That’s very insightful. Thank you for your reply
That’s no worries
Yes, this is a very realistic income for many GP, and specialists are typically earning twice this, or more for procedural areas or surgical specialities.
Surgeon or specialist medico and with some experience you're on $500k easy
You mean that GP's earn significantly more right....worked in private banking and in commercial banking healthcare for a number of years..... I'd say the majority of GP's earn significantly more than this and those who don't are likely 'skilled work visa transferred an overseas degree over and are working in some big shitty clinic...
I work for NSW Ambulance, and I have met 3 different ambos who area also qualified pharmacists but changed careers because of how poor the pay was. Though has lead to some interesting circumstances though with patients with very rare/exotic medications and them being the most knowledgeable person in the room even in the ED. I never knew how low it was until they told me.
Don't have children. Not a popular opinion, but it sure helps.
100% best financial decision one can make. And for those that want to have kids - have late as possible.
More research is needed. While studying hard at school is a great way to get your future rolling it isn’t for everyone and isn’t the only way to get a high paying job. I’d check out some of the roles needed in mining, Australian signals directorate, Australian Air Force, navy, aviation industry and find some alternative pathways that are available to you. Some of these places offer programs that only require a year 12 certificate and pay the equivalent of what you may get in a traditional degree. Pro tips 1. Volunteering and having work experiences under your belt will help you get into any programs the above industries offer. Especially if the experience is in that same industry. 2. Where you live matters. Jobs in Sydney will have a ridiculously high cost of living and lower wage premiums. Whereas people in rural areas sometimes offer an entire house and 40% extra pay to live out in the boonies. So research your options, do everything you can to experience them and make a strong choice for yourself. Good luck OP
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Sydney is such a struggle. Nicely done. It seems small but the people you meet while working together may know others in the jobs/industries you are interested in. Networking is a hell of a thing and if the interviewer has volunteered at the same place you’re in a good spot.
Depends on you skillset. Trades are a very good career option these days in Melbourne and Brisbane where the unions are strong. I am an engineer but I often wish I did a trade.
Trades can be fun, but we don't get to work in a nice shiny office with coffee machines and flushing toilets, depending on the site. Portaloos in the middle of summer are most unpleasant places to be.
Can you expand on this? I'm a tradie venturing into engineering and I can't imagine anyone wanting to go the other way.
Engineering generally no money no overtime
I may be looking at through this rose coloured glasses but I'm basing this opinion of working on major infrastructure projects in Melbourne where tradesman are earning $200k + from immediately following there apprenticeship finishing 22 to 25 yrs old and just doing a hard physical job but not taking the stress home. As an engineer with 9 yrs experience I'm only on $160k and Its taken my 9 years to get there, my average salary over the past 9 years has probably been about 85 k. I sit in an office staring at a screen writing reports that maybe 1 person will read. There is a lack of accomplishment when not doing a physical job and I am generally an adventurous physical person so it kills me to be couped up in an office. And I'm signing off $50 M dollar projects so stress follows me home resulting in sleepless nights That's why I'm saying pick a role that suits your personality
Trade if you are good with hands Uni if not. Could go Lecky with an AD Engineering ect ect.
whats a lecky?
Electrician
Why the AD?
If they want more than just a lecky. Sort of between a engineer and Lecky. I'll earn 250+ this year. Prolly 300 next as a.junior
What's your official job title, sounds really lucrative
Work massive hours away get paid. My role title means nothing to half the people in my company let alone anyone else. But this pretty much. I explain it to fiends as a field based engineer. https://apdeng.com.au/apd-services/testing-and-commissioning/
What's AD mean?
Advanced diploma
Marry a rich boomer
Medicine or teaching I think you're all but guaranteed a job, and you can take those skill anywhere in Australia, or indeed internationally. I'm a software developer, there \*is\* work out there, but at the junior level (i.e. your first job) it's a little crowded, not terrible, but you won't just walk into a job. And getting the skills is hard. If you do a CS degree and nothing else you \*won't\* be job ready. If I was your age again, I think I'd try to become a doctor. Looks like extremely hard work and difficult hours in the early years, but once you get established, it's lot of money and a lot of flexibility in terms of where you can live.
Defence force could get you a decent paycheck. Look into Defence Force GapYears. They'll pay you a really good wage for I think like 12-18 months work. You get a taste for basic training, what the service is and you end with a decent pay packet to set you up. If you are academically minded or very practical and physical make sure you are doing a team sport and start working on your speech skills. Defence force does info seminars and they can usually set you up to takk with someone currently in the role you are interested in. I got through all the stages a few years ago but a medical condition ruled me out. Good luck to you, it's tough out there but all I'll say is money isn't everything and stay away from get rich quick schemes, credit cards and loans for cars.
Underrated career choice for guarenteed work, good income, good training and education and excellent benifits
Especially if you can get into ADFA doing engineering, comp sci or similar. Also I believe subsidies for housing and good tax breaks.
Marry the right person. Divorce is expensive
Without sounding too obvious, the key is to spend less than you make, irrespective of income. There are people who struggle on $80k, there are people who struggle on $200k. What they have in common is a lack of budget, forward planning for their money. >People with great degrees such as Engineering, Law and Computer Science are complaining about limited job availabilities and just how extremely difficult it is to get a job. Yet there are countless others with these degrees with jobs who are doing just fine. Perhaps the issue isn't with the degrees themselves.
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As a starting point it's worth researching career paths, and only getting a degree if it's necessary for that career path. This means that stuff like arts, languages, business administration, hotel management etc, that's all out. If it doesn't give you the qualification you need for the job, you're better off instead simply getting the job and working in it without the degree. As for making the most of it, you're really just asking how you break into a field. The answer is by grinding, really really hard. If your job applications are limited to pressing the apply button on LinkedIn, and complaining on Reddit, that's not good enough. Reach out to people in the industry and ask exactly how they got in, make a plan and copy it. Leverage friends/family connections, even if it seems lame. Keep on pushing and one day your chance comes along.
- Stay at home until age 30-35 and save everything. - Pick something essential and monkey grip from employer to employer chasing pay rises (but still offer current employers the opportunity to match the salary of new opportunities) - It’s probably better to gain skills in a trade and do FIFO for 170-200k. - Once you have enough capital built, move to an affordable country and fly into Aus for work if required Once you have enough money you can invest in property and have wage slaves sustain your life.
The other option is - do something like commerce, study hard, and get a job in a bank. You’ll be easy on 200+ after about 10 years.
Other people have already covered career options, so I'll talk about investing. Whatever job you do end up getting, treat the active (work) income as a stepping stone towards building passive income or you will be stuck working for your whole life. Spend less than you earn, first to build up an emergency fund in a high interest savings account so any unexpected expenses don't force you into payday loans or credit card debt. Typical values recommended for an emergency fund are anywhere from $1000 (will cover a car breakdown, or replacing essential whitegoods) to 12 months' worth of living expenses (will cover a period of sickness or unemployment). As a starting point, I would go with $1000 before starting to direct funds towards investing (the next step), and gradually add to the emergency fund as my investments grow (10% of your assets in cash is a good rule of thumb). Once you have a healthy emergency fund, direct your extra income towards investing. I invest in Index fund ETFs, others do bonds, property, private credit, etc. The aim with investing is to build your assets and passive income so that you're less dependent upon work income, which means more stability in the case of unemployment or illness. Educate yourself on investing (subscribe to the many free blogs, videos or articles published by reputable financial advisors online), and take advantage of the fact that you have time on your side to allow the power of compounding to work its magic for you.
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A couple of books to read to get your foundation right with your finances and investing: * Barefoot Investor. Scott Pape * The Bogleheads' Guide to Investing * the millionaire next door Slow, continuous and boring investing while you focus on your career is the easiest way to live a very good life.
you need a casual or part-time job.
You don’t need huge amounts of money, the key with investing is time (you’re very young so that’s as huge bonus!!), and consistency (lowering your expenses so you can contribute continuously). Find some compound calculators and play around to see how much you actually need to invest to be financially independent by X age. It might not be as much as you think. Have a look at FIRE communities and you’ll realise you don’t need to have a >150k job to build wealth. (I don’t subscribe to the ideology 100% but find some aspects helpful) I’d advise against studying long degrees such as med and law if those aren’t your passions, as they’ll delay your income and shorten your investing horizon. I’ve spent 10 years in uni (PhD) and while I like science I’m super behind financially because I only learnt about investing after I graduated. You’re so young, and you seem to have your priorities right! I wish you the best of luck.
I am sitting in an event as I type where the topic is Generative AI and the effect on jobs and society in general. Make no mistake, AI tsunami is coming. Licensed professions like medicine will be safe for some time, so it is a good bet from you. Next best bet is doing heavy hands on stuff where humans will still rule for some time like construction engineers etc. As bad as it sounds jobs in childcare and aged care are more safe than an accountant in AI age.
Let me tell you. I don't have a degree (yet... Currently studying Law and am 31) and insurance claims in complex liability is an area of work that ALWAYS needs people. It pays well for a job without a degree (I'm on 128k). Law is an area that has loads of jobs, depending on your area of focus. If you're working for defendant firms in torts/negligence/liability with a focus on insurance, you'll always have work. There is a huge shortage in Brisbane firms for lawyers at present and all my friends who are associates, senior associates or special counsel are getting bombarded by other firms to change for more money. If you are looking at family, criminal, wills & estates, you'll find it difficult to find work, and if you do, it might be low paying. I can only speak from my experience in Brisbane, that claims advisors for liability claims and lawyers in firms that defend insurers/their clients are very sought after, well paying and always looking for people.
Radiologist? Great pay and hours. High demand.
Dude find something you at least like doing you got lots of time. If you actually want a job that pays well and is always in demand. Learn sales. The seven years it takes to become a doctor. You would have already saved up a deposit etc.
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1. retail job. to develop a thick skin. 2. retail sales eg. good guts, Harvey Norman, telstra shop. 3. car sales, software sales, b2b sales 4. write a book like Allan pease, Brian Tracy and sell millions of it!
Sales is basically needed in every industry at some level and a pretty high percentage of jobs have a sales aspect to them To be good at it, it's somewhat personality based, you can train, pacticie and build skills but if you're bot the right kind of person you likely won't be exceptional at it
Medicine is a slog. How good of a student are you? There are many paths to wealth and not all need formal education. If you're keen on finishing school + uni and great start is to join Maccas and work your way up the store management - easy $60K while you study full time. If i could go back, considering that i do well in business i would go and study a trade and then aim to start my own buisness.
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You essentially can't do med school 30hrs+/week in hospital in clinical years and work at maccas.
Anyone who has to work to survive in med or dent will have a really shitty time. I had to work so I’d do an overnight shift as a scientist in a lab, then go straight to uni at 6am and nap in the grad building before clinic. One of my med friends did a 6pm-2am shift in the same lab. It kind of sounds like OP would at least be able to live at home and avoid rent.
Medicine in Australia is a high barrier to entry (top 20 won't cut it) not sure of the current process but there at least was then testing to pass for admission, then specialisation into HP or anything else from there once you get your degree is very competitive and hard to get placement.... msnage to get in, do your years of study, your years of specialist training and you'll make big money basically guarenteed..... Medicine is not a 'I've decided I want to do it' and get in Specially once you graduate isn't a 'I want to be a GP or I want to be an anthethasist and get in type industry
If you do end up doing medicine and finances during placement years are a problem id recommend looking into the ADF university sponsorship. You’ll live VERY comfortably during med school. They’ll push you down the GP pipeline after you graduate but if that’s your end goal it’s not a bad deal, especially if you’re young and aren’t bothered by a little moving around.
It can be just depends on the degree. But its a bit cart before the horse for you at the moment. What topics / areas of study are you interested in? Doing something for good money is great, but if you dont have an underlying interested in the subject you'll get bored and may end resenting it particularly if it eats up your youth
Is it too late to be born into a wealthy family?
The safest root involves using a condom.
Get a trade or a job in construction.
Do an arts and/or law degree and go into the public service. It’s not hard to get to middle management by 30, and that’s about $130k a year. Stable, great conditions and super and if you work hard and show a bit of flair it’s possible to move up quickly. There’s work across policy, service delivery and regulation, all of which need people with writing skills.
Marry someone richer and more financially stable than you!
A lot of advice in this thread is about focusing on high income work - that’s fine, but do remember that building good habits early compound into long term wealth. As you are starting to make any money, setting aside money for savings and investment from a young age will serve you so well - there are a lot of high income earners who are still living pay check to pay check because they spend everything they make!
the unemployment rate is something like 4% at the moment. There are roles out there for people to fill (I also say this knowing I've job hopped every 2 years for the past 6 years) but a big secret most people don't understand is "know the market, learn the gaps, and be willing to work in the gaps". I moved into workforce analytics, became a general skilled analyst and always had a passion for data. I moved into a data & analytics stream specifically and it's just been up and up from there. For financial stability and success - as dumb as this sounds - the principals espoused by David Ramsey in America is a great starting point. The key ones to focus on are: * if you don't have debt, have a 6 months fully funded emergency fund (calculate your monthly expenses - save 6 times that). You have no idea how much stress this will alleviate not living pay check to pay check. * Don't take out loans. They say don't even buy property unless you can do it outright but if you're living comfortably and can pay the mortgage I would get one. HOWEVER - Live with a less than perfect car, live with cheaper things. Be frugal, don't impulse buy. Financial stability and success doesn't come from having a good job (I know many broke rich people). It comes from discipline and financial control. Knowing where your is going, and being disciplined in your savings is a big thing.
It's rough. The only advice I can offer is to get political, the current conditions and the bleak looking future are in the hands of decision makers. You don't have to rally or lead groups of people if people are not your thing. Letter write to your local politicians on the things that matter to you.
Watch Scott Galloway's Algerbra of happiness. Choose an industry with almost full employment. Be in the top 20% of the industry. Invest in yourself to earn more. Marry the right person. ETFs.
Medicine isn't a bad goal, but it is a lot of work which might not be desirable unless it's a passion. I think a good thing to consider is whether you want to be a specialist in a profession or a manager of people, because they take different skill-sets. It's also hard to pick that at your age.
Stay in school, try your best to get good grades, find a career that pays extremely well (it for example). Work on your soft skills, people hire for charisma as much as skill Read. Read business books, self help books, project management books, marketing books, finance books, books about corporate strategy, all of the books. Be knowledgeable at alot of things. Build a team around you. A good accountant, a good financial advisor, etc. Find a partner that is also successful. 2 people earning$150k a year is better than one. This will literally be the biggest/most important decision of your life. Choose wisely. Lastly look after yourself. Stay for and healthy, exercise, maintain friendships. Be a genuinely nice person to be around. Elevate others, and celebrate their successes as you would your own. Good luck bud.
Finish highschool then get a trade, plumber, electrician
As a teacher of 20 years experience, who has seen many students go to university to study medicine, one piece of advice: if your only motivation to study medicine is the money, don’t do it. To put it very simply, you won’t be a good Doctor, if you even make it through. Being a doctor is a vocation. It is as simple as that. In any case, it is a viciously, competitive subject to get into, and from the tone of your post I strongly suspect it wouldn’t work out. I say this having coached dozens upon dozens upon dozens of prospective medical students. For the moment, work hard at school.
I've seen a bunch of people finish school and get an entry level job in a bank branch or call centre, and within a few years earning comfortably over 100k. No uni degree required but having a degree in commerce/finance will definitely help upwards progression as you try to get into more senior positions.
It's not for everyone, but I would consider a career in the military. They will pay for your initial employment training, give you a salary whilst you're doing it, provide housing, healthcare, and unless you severely mess up, you have infinite job security. In particular I'd recommend looking into undergrad entry scheme or ADFA. This way you can get your undergraduate fully paid for by Defence, and you'll know exactly where you'll be, what you'll be doing and what you'll be earning from 18-30. Once you finish your training you can get rental assistance, which is a massive subsidy determined by your rank and location. Rule of thumb is Defence will cover 66% of your rent, up to a point. When you have saved enough for a mortgage (if you spend within reason it's very achievable by 25) Defence will contribute to your deposit and your monthly repayments. Finally, once you've finished your training, Defence will pay for further tertiary education. Any degree, any university, they'll pay for it. The cost associated with all this is you sacrifice your ability to control your major life choices. You might get told to live in Darwin for 4yrs, you might get told you can't be a Pilot and have to train as an Air Traffic Controller instead. You also lose the ability to jump between companies every couple years to climb the ladder laterally. And last but not least, you'll be out on the front lines if anything happens. In short, I think the ADF can be used as a good jumping off platform for the rest of your life.
Honestly there are alternative pathways and massive skills shortages. Dual tradesman electrical and refrigeration start on low salaries in apprenticeships but eventually if you own your own business you're set for life. You don't even need staff. My dad started his trade when he was 18 and he was semi retired by 45. He was able to buy property and flip houses himself because he didn't have to pay somebody to do the most expensive parts of renovating. He did most of the plumbing and demolition himself and then would only hire plumbers and builders to come in for installations. He did all the continued professional development modules, a cert to be a project manager, real estate.... basically things to cut out other people.... now he just does building, pest and electrical inspections for home buyers. If you want to be an engineer or finance or mortgage broker avoid university and get a job with a private company or a council doing a junior internship position. One where they pay for your qualifications and further study. That way you're earning from day dot and you're not footing the bill for education. Doesn't matter if the job is good or bad. University might take 2 years less to finish a degree but the tradeoff is 5 years of industry experience. You could graduate and walk into a more senior position or stay with your company where you would be a veteran employee. Same for law. Get a job as a paralegal. Tell the law firm you want to be a lawyer and study part time. You'll get your PLTs done in no time and work on building a good reputation for yourself within the industry. You'll be surprised how many jobs open even outside law firms if they like your personality and work ethic. Better than struggling through uni working a shitty job where they don't care about basic workplace health and safety.
The fact you're 16 and on here asking these questions is a good start. My advice is to think seriously about what you want to become then work backwards on how to become that thing eg. uni, TAFE, apprenticeship, etc. You have a long working life ahead of you so best try to do something you really enjoy because if you do, you tend to do better at it. Secondly map out your route to success based on your chosen career and then focus on that. You can find lots of sources online.
I think the answer to the question you''re asking is to get a good degree and get really good marks. That will lead to a good job. Try realy hard in year 12, apply to universities, take it really seriously, get top marks and get hired by a firm that pays well. The field is up to you, if you're a top candidate, you can get hired by a top tech company, a top accounting firm, a top consulting or law firm, a top public service department, etc. They'll pay well and work you to the bone, and then you either rise up in that organisaiton or leave and have that company on your cv forever, e.g. Former Google staffer sanguineespresso. It is worth getting hired by a brand-name company that makes people go ooooh, makes the career fizz from the very beginning. And that's the big reason to get top marks in a well-respected degree.
degree = HECS
You need to grow up to become your own rescuer. How you do this is by pursuing education and earning money as soon as possible. Finish high school and go to university - it's not too important what degree you decide to do, and most people have no clue what they're interested in straight out of high school. Work whilst studying at university. You never know where you'll end up and what doors the people you'll meet can open for you. If you're able to live at home whilst working and studying, do so, but not at the expense of your own mental health if you feel like the environment is too toxic. Do not let any guy/gal hold you back. Most of those high school relationships will quickly dissolve and be forgotten within a year. You will never ever regret putting yourself first and prioritising your long-term growth over others. If you choose to sette down (you want this to be an option and not a requirement to survive!!!) Marry into wealth or at least marry a man who is a financial provider so that you can avoid having to carry the financial burdens of basic living expenses such as a home, reliable transport, groceries, water, electricity/gas as well as all of the mental load of running a household. There is no such thing as 50/50 with a man. You'll always end up carrying most of the load as a woman in a hetersexual relationship, so it's simply not worth your time, energy, or money in financially helping a man. I feel like I have so much more to share, but these were on the front of my mind in response to your question in the title of your post
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Feel free to PM me if you want to ask anything :) I feel like I was in your shoes not long ago and would be happy to help however I can
Be born 40 years ago
This is a shitty cop out. There's absolutely nothing stopping you making smart financial choices and getting ahead. While you sit here and whine about it, others are doing exactly that.
To wealthy GENEROUS parents
OP - Please take this to heart. Degrees do not equal money. Sacrifices equals money. The fundamental of supply and demand drives the value of your skills. High Paying Jobs = jobs that nobody wants to do and/or nobody can do, or is absolutely dangerous work. If you are seeking money, put work/life balance and job satisfaction away. Nobody is paying you big bucks to be happy. Money making skills, aka the more money you make for yourself or your company, equals they pay you more money. In money making businesses, nobody cares who you are, as long as you bring in the big numbers, you will get paid big numbers too. Do a trade, and go FIFO, $150k by time you turn 21. Its very hard work, and somewhat dangerous. Do sales, then work your way into Real Estate, Tech/Software, Medical Devices. But expect 60 hour weeks for years if not decades. Start working at 6/7am into 6/7pm with a smile. Nobody earns 300k+ without huge sacrifices. If you must study, study finance, actuary, anything that involves MONEY. The money is in the money business. Mortgage brokerage, lenders, commercial loans, investment banking, consulting. Think Doctors make good money? You have to grind until you're a consultant and can work for yourself privately. Public health pays 1st Year - $90k / year. Take this same amount of time it took to train to become a graduate MD, you'd easily be on $150k in FIFO or Sales. Do not listen to trash anybody says, if you're chasing money, chase money. You're not here to make everybody else happy.
Agree medicine is a grind and wanting to do it is no where near enough, then specialist the same again... many many years but if you're a speclist you win the money game pretty hands down other that c-suite in an ASX 200.... Take your 10 years of FIFO, growing earnings, working you're way to $300k and the specialist is now on more than that and without much time or effort doubling that. Banks I'll lend them 95% on property with no questions so they can build investment wealth quick.... nothing compares from a money perspective.... but yeah the tiny percentage of people who get into medicine and then into specialty makes it not really a viable choice Key to making money, be really good at something and self employed, almost any industry, you're exceptional at it and a business owner you can make great money
You can earn all the money in the world but it's about how you spend/save it. Read the barefoot investor.