What does a doctor earn?
Wondering how much doctors are earning in Australia and New Zealand?
The medical profession in Australia is known for offering competitive remuneration, attracting both local and international professionals. However, it is important to understand that a doctor's salary in Australia varies depending on factors such as experience, location, and specialisation. In this article, we explore the earnings of doctors in Australia, particularly focusing on junior doctor salaries after tax.
A doctor's ability to earn varies - It depends on what level of training they are at and what specialty of medicine they are in. This article will cover how much doctors are earning in Australia and New Zealand, and how you can increase your earnings.
How much does a doctor earn in Australia?
In Australia the overall average doctor's salary is around $180,000, however, a doctor can make depending on many factors, including their grade, and their specialty. If you are a doctor-in-training or junior doctor in Australia you will earn around $70,000 – $85,000, whereas a top-level consultant can be earning an average of $394,866.
New data from the Australian Tax Office has revealed that the average salary in Australia is now just over $60,000, so even junior doctors are earning over the national average, and consultants are earning over 6 times as much.
If you are wondering what kind of doctor earns the most, the highest-paid specialty in Australia is surgery, with an average income of around $400,000. Specialty surgeons (like neurosurgeons and ophthalmologists can earn over $500,000). Surgery is followed by anaesthetics and internal medicine (which are all in the over $300,000 bracket).
As doctors progress in their careers and specialise in specific fields, their earning potential significantly increases. Specialists, such as surgeons, anaesthetists, and psychiatrists, often command the highest salaries within the medical profession. For instance, a specialist in Australia can earn an annual salary ranging from AUD$200,000 to AUD$500,000, depending on their expertise and reputation.
Geographical location also plays a role in determining a doctor's salary in Australia. In general, urban areas tend to offer higher salaries due to increased living costs. However, rural and remote areas may also provide competitive remuneration packages to attract and retain medical professionals, as these regions often experience a shortage of healthcare providers.
It is essential to consider that the salaries mentioned above are only indicative, as a doctor's earnings in Australia can be influenced by various factors. Additionally, doctors may have access to other benefits, such as professional development opportunities, allowances for on-call duties, and employer-sponsored health insurance. These benefits can contribute to the overall compensation package, making the medical profession in Australia an attractive option for many professionals.
In conclusion, a doctor's salary in Australia varies significantly depending on factors such as experience, specialisation, and location. Junior doctors in Australia typically earn the lowest salaries within the profession, with their earnings increasing as they gain experience and specialise in specific fields. Despite the variation in salaries, the medical profession in Australia remains a rewarding and lucrative career choice, offering numerous opportunities for growth and development.
Psychiatrists, Gynaecologists, Emergency Medicine, GPs, pediatricians, and physicians are all in demand and have the ability to earn good money in Australia.
How much does a doctor earn in New Zealand?
A doctor in New Zealand earns an average salary of between $72,000 and $182,000 a year. A junior doctor in New Zealand makes around $80,000 – $140,000 yearly, whereas Consultants could be earning between $155,000 and $219,000 a year. Those working in the private sector could earn up to $600,000.
As of 2023, the average New Zealand wage is $61,692.80 per year, with doctors of all grades and specialties earning above the median wage.
Are doctors in Australia paid well?
Yes, in Australia with an average income of over $190,000 a Specialist Consultant is the second highest paying job (followed only by banking), according to Seek.co.nz's 2022 data.
As detailed above specialists in private practice or certain specialties have the ability to earn well over the average income. On top of this, Australia offers its doctors great locum rates and a great work/life balance.
Are doctors in New Zealand paid well?
Yes, with an average salary of $187,022 a doctor is the highest paying job in New Zealand. In recent data released by Seek.co.nz, it is ranked higher than even law or engineering.
If that wasn't enough, New Zealand is known for its outdoor lifestyle and as a great community-centric country to raise a family - so you can earn while you enjoy life in New Zealand.
How can I earn more as a doctor?
Locum work is a great way to earn more by working extra shifts alongside a usual role or instead of. Locum Consultants are earning up to $3000 a day, and in some cases, junior locums are earning $2,000 a day.
Locuming also provides the opportunity to travel, learn, and work in different settings - travel and accommodation and often covered which means you can save money on the job!
There are also ways outside of medicine that doctors can supplement their income, this includes things like property investment or investment funds.