What Jobs Pay $200k a Year?

Considering that the forum consensus now is $100k is not considered rich, what jobs pay more than $200k a year?

Interested to hear from people who earn this and how they got there.

Comments

                      • @geosta: Thanks for clarity, are you a lawyer?

                      • +5

                        @geosta: Thanks for speaking the truth! I'm so sick of people thinking because I'm a lawyer I must be raking in the $$.

                        I work in an international firm on the East Coast and am an Senior Associate with 10+ years experience (note: I have no desire to be a partner). My package (inc super) is $180k pa, and that's because it got to that level when things were great a few years ago. There's been no increases or bonuses for 2+ years. I've been looking around to move firms but I'd be taking a pay cut as the current salaries being offered are not at that level unless you are going to a top tier firm that expects insane billables which translate to working 18+ hours a day and weekends. That's what you do when you start out in your career, and even then only for a few years unless you want to burn out and leave the industry altogether.

                        • +2

                          @allie181: $180k, nice well done

                          Are you lost btw? This is ozbargain forum and not whirlpool

                          • +1

                            @Homr: He might be waiting for someone to post a BMW massive savings deal here. ^^

                            • @berry580: allie181 is a she going by the name?

                      • +1

                        @geosta: Stagnating pay levels is a nation-wide issue for the last few years. It is not specific to legal. Just look at RBA and ABS data.

                      • @geosta:

                        moaning about stagnating pay levels.

                        Welcome to any service industry.

                        They won't be moaning when they make partner!

                      • +1

                        @geosta: Thanks for doing the work to set it out - I think a lot of people assume that because partners are making the big bucks most lawyers are too, which couldn't be further from the truth. There are a lot of little things that outsiders to the industry might not necessarily see which might give a different perception to reality, but unfortunately that's the world we live in.

                    • @Homr: Very low chance to make $200k in mid 20's. It would take 4+ years post admission at any firm that would pay that sort of coin just to make SA and then you would need at least another 2-3 years to get to $200k. Generalising a bit here but probably 30+ by the time a lawyer makes $200k. There are of course some exceptional (or just exceptionally lucky) people that make SA / Partner very young.

                    • +1

                      @Homr: I'm in my mid 20s, on the cusp of being promoted to SA at a top tier firm (either this or next year, depending on how my partner feels lol), and I promise you, I am not making anywhere near $200k. It's hard enough to get promoted to SA (there are often considerations other than just merit), and the pay scale takes time to climb.

                      One of the more depressing things we like to do is to calculate our "actual" hourly rates, and it's not pretty - there's a reason why there have been so many underpayment scandals in the legal industry. Grads work so many hours that they end up being paid less than minimum wage.

                      • @hybridex: Congratulations, can I give you a call if I need someone to bail me out of jail?

                        • @Homr: Sure, if you want a completely botched defence. I don't work in criminal law, and it's a common misconception that all lawyers spend all their time going to court.

            • @Homr: You can feasibly jump straight into an LLB/LP straight after high school for a cool 4.5 years. This will have you graduated and legally ready to practice by circa 23 depending on your DOB. There are junior lawyers in my workplace who are in their early 20s, but in fairness not at the Senior Associate level.

              I say 'legally' ready to practice as in many ways a Law Degree is kind of like a licence to try practicing law, there are many people with them who simply do not make it/hate it/cannot break in/burn out etc.

              Some Unis are now offering 'tri-mesters' and cramming a law degree into three years. If you were a young intake in high school you could technically be graduated by 21/22. I am yet to come across any grads from such programs I would rave about, BUT I have only come across a few in fairness. I am of the view a few years life experience is very helpful for the role.

              Re why you see some Senior Associates who look young, there are absolutely some exceptional people in the profession who are properly rewarded. A person I went through university with was a partner by 30. But he was the exception.

              Connections also very much count. For those of us who are not truly exceptional and with great connections it is more of a grind.

              • @PugHugger: A law degree does not allow you to practice law. You also need to complete a practical training course such as with the College of Law in NSW. Then, once licensed, you have to practice under the supervision of a fully licensed lawyer for a couple of years.

                • @SteveOh: Sure, that is true of an LLB.

                  An LLB/LP (which is what I was referring to) includes the practical legal training component and is enough to apply for a restricted (i.e. working under supervision) practicing certificate (in SA in any event, I won't pretend to have any knowledge of interstate).

            • +1

              @Homr: No. It's either or.

              The Australian JD is BS. It's copy cating an American invention. The problem is, in Australia, it's basically the same as an LL.B. but on top of a BA in whatever. In the US it's a very rigorous genuine graduate degree that one could easily flunk out of.

            • @Homr: JD is an alternative to LLB if you have done a different post-graduate course (e.g. if you have a bachelor of business then want to change to be a lawyer). Otherwise you'd do 3 years LLB or 4 years LLB(Hons) - the latter if you want to be on a trajectory to $200K. There is an oversupply of people with law degrees - most don't even become lawyers now, let alone senior level.

              You'd have to be very dedicated, smart to come in the top 10% at uni, work long hours (they all expect this - all about billable's), preferably know someone / be good at networking, and latch onto an area of law with a mentor partner that is within 10 years of retirement so they are interested in progressing you up to take his/her place…. but others will probably already be chasing that path.

              Unfortunately sexism also still exists - it seems to be harder for females with law degrees to make the big bucks, and I put this down to most having a better work-life balance, family commitments etc - that doesn't balance well in the race to become senior associate or partner. Many stay as paralegals or end up working in corporate positions doing HR or other admin despite having a law degree… but it will still help get a job. The usual story but made worse by the gluttony of applicants for each position.

              But having said all that, I know both males and females who have done it and earn good money. Some regret it as a career path later due to the stress / work-life-balance.

              • @MrFrugalSpend: Is there any difference between lawyer, solicitor, barrister and silk?

                • @Homr: Lawyer is the general term that refers to all of them, they are all lawyers.
                  - Barrister is a specific type of lawyer that goes off to Court and represents people.
                  - Solicitors don't do that, they do private legal advice / consulting (like most lawyers these days)
                  - Silk is a nickname for Senior Counsel or Queen's Counsel - these are barristers that are highly respected and accomplished that get appointed this title by the Bar association. These guys get paid the big bucks to represent in top cases. Provided they aren't semi-retired or something, these guys definitely get paid over $200K per year!! … but you can't just walk into this job.

            • @Homr: They all look like they are in their 20s because like all vampires they never see the sun and don't age.

          • @hybridex: I'm not advocating in any way that it's a good (nor quick) way to make money because it's a tough gig and a bit of a slog, I'm just saying that plenty of lawyers do make $200k+

            • +6

              @Knightelf: Its all relative. If you are having to work 80 hours a week to earn 200k and someone else is working 40 hours a week to earn say 140k,in my view they are doing better.

              They may not have as high an income, but they have far more free time, less stress, probably better health and relationships too.

              I work with several people with law degrees and also deal with many others outside my company. None would be earning anything close to 200k, probably more like 100-135 for most.

              Of course those at the top make big dollars but as a percentage of all lawyers it would be quite small. The point earlier about unis churning out more and more law degrees will also put downward pressure on salaries (good old supply and demand).

          • @hybridex: It's also important to understand that few geaduates have any chance of being hired by a large law firm.

            I remember a few years ago one major firm (CLUTZ) received 10,000 applications for around 15 or 20 entry level positions. This is typical for a large firm.

            Starting salaries are much lower at smaller firms where most lawyers work.

            • @SteveOh:

              Starting salaries are much lower at smaller firms where most lawyers work.

              Mainly because they do less hours and work on less large corporate type stuff.

              These kids at the big law firms do mega hours so they need to be paid something for it.

              • @serpserpserp: Just to pick up this thread.

                Based on my experience, i'd say SAs at Top Tiers and teh better mid tiers often exceed 200k, but usually not when they first become SA. I'd say 160 inc super for a relatively young SA would be fairly common. Bu these also vary by area of law. So it is really hard to generalise.

                Also, the titles are all made up and often meaningless, and SA could be 4 years pqe at one firm, or it could be 10+ at another. Personally , i think less than 5-6 PQE and you are an associate at best but also depends on the individual and the area.

                I've met partners at Top Tier Firms under 30, it happens but is super rare.

                Lots of lawyers make under 100k. But if you work in commercial law in a decent boutique, or in a mid-tier or top tier, it doesnt take long to exceed 100k and you'd have a decent shot of making 200k within a decade of graduating if you were motivated (and sufficiently skilled).

                Also def 10k+ salary bump for almost all roles in Sydney.

          • @hybridex: Cuz is a lawyer, took him a long time in family law to earn $200K, long, long hours. Sometimes come home at 10 pm.

            • +1

              @RocketSwitch: 10pm is early days - I've done the occasional all nighter! The hours in law aren't for the faint of heart, especially in transactional practices.

    • lotto winner is a one-off, not every year ;)

  • +2
    • +15

      “Potential to earn $200k” sales jobs 😂

      • +4

        Inept at sales, then -

        Building Surveyor
        Portfolio Manager
        Principal Bridge Engineer
        Paid Media Specialist
        Tax Director
        Lead .NET Engineer
        Growth Manager
        Principal Lawyer
        Associate Quality Surveyor
        Special Counsel To Partner
        Civil Supervisor
        HD Mechanic
        Front End Senior Engineering Manager
        Engineering Surveyor
        Branch Manager
        Site Manager
        General Practitioner
        Head of Finance
        Airport Pigeon Shooter

        • +4

          Lead .NET Engineer

          That job ad is actually Lead .NET Engineer/Head of Technology/Unicorn for a start-up that might not last 6 months (given their business plan).

          Most people with that title would be $80-$130k.

          • +3

            @[Deactivated]: It depends where you are, a lead .net engineer in Sydney in a medium to large firm is on 150k+

            200k is not likely unless they're contracting or some really specialised work.

          • +5

            @[Deactivated]:

            Most people with that title would be $80-$130k.

            Nah, maybe if your shit. Good .NET developers are more $110-$150k + perks. Leads are even more

            • @sheamas88: Most people aren't that good. Seen payroll at multiple places. The reality is outside the top performers in Sydney / Melbourne that's not the case.

          • @[Deactivated]: That ain't true. 120-150k

          • +1

            @[Deactivated]: Just came to throw in with the others saying that anywhere under 110k for a lead engineer is a scam - especially if you're in Bris/Melb/Syd

            • @sakurashu: Bris pays a lot less than Syd/Melbourne. You'd be surprised. Need to be mobile (in employers) to get that, and above average.

              • -1

                @[Deactivated]: I'm in Bris working for a big corporate that pays lower than competitive Bris rates and I'm now in a similar role with this being my first company out of University - I won't be surprised, you're just straight up wrong

                • +1

                  @sakurashu:

                  with this being my first company out of University

                  So, no basis for comparison whatsoever.

                  • -1

                    @[Deactivated]: Except that I'm above that garbage salary and get plenty of offers for above that salary all of the time and most of my friends and contacts are in the same boat in the same industry? You tried to claim that you need to move to different companies to get a high salary - that's the specific point that piece of information is in conflict with.

                    Do you even work in IT?

                    • @sakurashu: Yeah, had that role formerly, now manage people with it and and do their salary reviews. Have done so at several large IT companies in the last 5 years.

                      • @[Deactivated]: And to think they say management isn't out of touch….

                        Federal public APS scales will pay you at minimum your 80k lower bound for APS6 and you think that's a reasonable lower bound for a Senior engineering role? If you're throwing out titles like that when they don't mean anything and paying them low ordinary developer rates because they aren't very good at their jobs - maybe stop?

          • +5

            @[Deactivated]: I wouldn't even apply for a Lead Dev position that paid $130k. That's base level senior dev salary these days.

            • +1

              @akashra: Most of the people being paid less are not applying for anything, that's just what they're being paid because they've progressed through the ranks and they're looking at their LSL coming due etc. They also might not have the experience to actually get any of the jobs that are paying that, even though they've got that title.

              There's a lot of people with the title 'Senior Dev' that are better than others that have the title 'Lead Dev' at other places. There's no strict requirements as to what that title means.

              • @[Deactivated]:

                Bris pays a lot less than Syd/Melbourne.

                Even in Brisbane decent developers should still be pulling $110k+, so leads should be getting much more than that.

                There's a lot of people with the title 'Senior Dev' that are better than others that have the title 'Lead Dev' at other places. There's no strict requirements as to what that title means.

                It's not how good you are that determines a title, Senior Dev just means they are an experienced dev that can work largely on their own with little to no direction. Lead Dev is in charge of direction of other developers too.

        • +10

          Airport Pigeon Shooter

          where can I apply this?

          • +2

            @ntt: Came here to say this. I'm pretty sure I can pull this one off.

          • @ntt: Would be a cool job that pays handsomely. Anyone done it?

        • Airport Pigeon shooter hmm

          • @donkeydoc: In all seriousness though, aerial culling pays extremely well, however you have to be a crack shot or damned close to it. A mate near Nyngan earns well over 300k aerial cullling- it’s amazing work!

            Get to use semi autos too. But there’s regular training/testing and if your accuracy drops off below some absurdly high threshold you’re out. I can manage a 47.08 but I’m not good enough for pro culling. Literally need to pull off a headshot each time. (Max score is 50.10- the number after the . Is number of centre bulls scored).

            Plus, even the best heli pilot can’t keep his rig perfectly still, so not only is the target moving, but you are too!

      • +1

        I’ve done it, many times. Been in sales for 15+ years.

        Some years just earn the base salary and car allowance. Other years 60,70 80 grand bonuses.

        Not an easy job though, and it’s technical sales.

        • +1

          Tech sales is a tough gig for sure. Worked with many sales people in the IT industry and many of them are smarter than the techies. Most of them deserve the money.

        • +1

          I'd like to see more techie sales people. Seen plenty of non-techie sales and it's like, "You sold them what? You know that's not physically possible?". Well, guess who's gonna spend the next decade trying to sort out that?

          • @aragornelessar: By technical I don’t mean IT products, sorry should’ve clarified.

            Engineering products like pressure, level, temp, calibrators and other stuff like that, also automation products

          • +2

            @aragornelessar: won't name my company, but "tech sales" people are not tech, and sell shit that we can't do, get clients onboard and then we offer "alternative" solutions…

  • +8

    The Overton window for how personal a question gets asked is moving.

    Next up:

    • how old are you
    • what's your favourite month
    • your favourite number between 1 and 31
    • +4

      Not very old
      September
      31

    • +10

      The idea that salaries need to be kept private is a complete farce on the part of employers who don't want employees knowing how much everyone else is getting paid.

      Screw that, scream your salaries to the world.

  • +4

    FIFO helicopter pilot. $200k base up to 300k depending on how much overtime and allowances.

    • +38

      FIFO helicopter pilot.
      FIFO

      What's the alternative?

      • +4

        Offshore oil and gas sector, flying rig workers to and from platforms and vessels. Live anywhere in Australia and tour 2 weeks on/2 weeks off (ie FIFO) to Karratha, Broome, etc. The alternative (if anyone was stupid enough) is to live permanently in Karratha, Broome, etc and work 5 days a week and lose approx. $25k in tax free travel allowance.

      • +4

        FOFI

        • +3

          Kamikaze helicopter pilot perhaps, but you can only ever get one contract.

    • I'd never thought of this. How much effort/time does it take to become one of these people?

    • +99

      I assume you're not an accountant…

      • no im not.

        • +71

          ExZachary!

          • +6

            @youknow: Zachary is the real winner here. He earns $18,000 and doesn't have to pay tax.

            • @Mr Haj: its actually pretty crappy down here…..would be dead before I get my first house….unless you're crashing at someone's house for free until you can afford your own….

        • Google marginal tax rates.

    • +2

      Lol

    • +11

      Your taxable income: $200,000
      Income tax payable: $60,667
      Medicare levy payable: $4,000
      Your income after tax & Medicare levy: $135,333
      Your marginal tax rate: 45%
      This means for an annual income of $200,000 you pay:

      No tax on income between $1 - $18,200 $0
      19c for every dollar between $18,201 - $45,000 $5,092
      32.5c for every dollar between $45,001 - $120,000 $24,375
      37c for every dollar between $120,001 - $180,000 $22,200
      45c for every dollar over $180,000 $9,000
      Income tax payable $60,667

      • There are places in the World, with Low Taxes.

        (You can find lists of Tax Rates + Countries)

        Be a Contractor w/ multiple Clients & there may be Deductions, etc. (eg: End of 2020's capital investment (buy a vehicle for your business, get credit for the $$ you paid for it, & maybe some GST back? B4 COVID' you had to wait for the effects of Depreciation to kick-in, End of Last, you got them sooner / immediately; dunno if it will last.)

        (DON'T trust me on this stuff,
        …as I am NOT a Tax Agent.)

        • +12

          I'm not sure anyone trusts your quack posts.

      • Thanks, could you do the same for $100k?

        I should be able to work out, is there Medicare levy or high income levy for the $200k one?

      • +1

        Don't forget medicare levy surcharge +$3,000 of tax.

        • What is this? So then what is the take home amount after that?

      • My apologies, it would appear I am dumb - thankyou for correcting me. What is medicare levy? Is that extra tax on top of tax? So your final take home amount is $135333?

    • +2

      0 – $18,200: Nil

      $18,201 – $45,000: 19 cents for each $1 over $18,200

      $45,001 – $120,000: $5,092 plus 32.5 cents for each $1 over $45,000

      $120,001 – $180,000: $29,467 plus 37 cents for each $1 over $120,000

      $180,001 and over: $51,667 plus 45 cents for each $1 over $180,000.

      So at 200k your tax will be $51,667 + (0.45 x 20,000) = $60,667.

      • +2

        My apologies, it would appear I am dumb and tax is not subtracted at a flat rate for the whole of your amount but broken up into lots of segmented taxed amounts(Which are variably taxed at different flat rates) which is then added together for the total tax amount depending how much you get. So that means after tax all you will get is $139333 to take home?

        • https://www.paycalculator.com.au/
          If you made 200k, take home around 130k
          But you could put some money into your super to minimise the tax rate..
          Best to consult a professional accountant or financial advisor??

          • @watson4884: still a lot of tax to pay…I kinda feel sorry for those who are actually earning 200k a year and have 70k of it go to tax… If it was 10% max, then I'd fine with it…must be a way to get this much without paying a ridiculous amount to tax… I know I would feel something, giving away 70k for free….

    • +4

      Hahah the Libs will make sure they and their buddies earning over $200k will never lose that much to tax

    • I deduct all car and business related expenses as I am in sales so typically get a tax refund

  • +1

    Work in an oil field in United Arab Emirates.

    Tax free until/if you return to Australia.

    • +1

      If one is working in UAE and not an Australian Tax Resident, any savings there brought back is tax free in Australia too.

    • In what way is foreign non-resident past income taxed if you return to Australia?

      • If you're declared (and accepted by ATO) as a non-resident for tax purposes your foreign earned income won't be taxed on return to Aust. If not, expect to be taxed in Australia on your worldwide income.

      • Usually that means staying there for 6 months but I think Oz has recently changed the rules so it's not that clear cut 6 months.

        It must also satisfy the "ties" rules so if you are away 6 mths but still have ties to Oz (eg: Home in Oz) they won't make it easy for you to let go UNLESS there is a tax treaty that say that 6 mths are long enough to be considered non-resident.

        • I think I misunderstood the original post. I didn't consider doing it as a FIFO.

          I had a friend who lived in Spain and flew in to a North Sea oil platform, so it is certainly possible in times of normal travel - but with the tax implications.

          • -1

            @mskeggs: It's still happening in Australia flying to the rigs off the WA coast however McGowan has made the 2 weeks on/2 weeks off roster impossible. Now its 6 on/6 off with the first 2 weeks in WA spent in quarantine, although it changes depending on your state of origin.

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