The 10 most in-demand jobs in Australia
Current unemployment rate is 5.6% and inflation rate is 1.90%
Australia is transforming its overall industrial outlook in a big way. The key policy makers support many other industries which have not been very popular over the years. Therefore, we expect the occupation list such as this one will be revised intermittently. If we look at the occupations in demand, beyond doubt medical professionals top the list in terms of pay scale and range between $200,000 and $400,000 annually. This fact is known to all and hence we have cherry-picked those occupations which are not in the medical fields. This article may help you find the right answer in the context of the Australian labor market. Here are top ten jobs which displays a strong demand:
- Financial Investment Managers
Training needed: Minimum diploma or bachelor’s degree in business administration, economics, commerce or other related field along with several years of work experience. A master’s degree with finance concentration is generally preferred.
Job outlook: The job duties of financial investment manager includes controlling, planning, evaluating and directing the operation of brokerage firms or other financial institutions that buy and sell bonds, stocks, and other forms of investments on behalf of institutional clients or individuals. They also manage the investment portfolios of their clients.
Median salary: $288,790
2. Investment brokers
Training needed: Minimum diploma or bachelor’s degree in business administration, economics, commerce or other related field along with several years of work experience.
Job outlook: This job role requires a very sophisticated set of skills of convincing clients to use the brokerage firm as a means of buying investments. For that, investment brokers must possess a detailed knowledge about the financial statements of companies that they recommend to their clients. They may need to explain clients why the particular financial product is a broker pick. Once the client agrees to buy an investment, the broker typically sends the buy order to the exchange floor (ASX = Australian Stock Exchange).
Median salary: $286,530
3. Company secretaries– corporate governance
Training needed: Minimum bachelor’s degree in business administration is usually required. Some companies prefer candidates with law background with several years of practise. The membership of ICSA (Institute of Chartered Secretaries and Administrators), the global body for corporate secretaries, lawyers and accountants is usually required.
Job outlook: According to David Jackson, Corporate Secretary at BP PLC, “in today’s world, the role of the Company Secretary has no one meaning and covers a multitude of tasks and responsibilities. That said, the role lies at the heart of the governance systems of companies and is receiving ever great focus.” Increased attention on corporate governance and tightening and stringent regulations by the government authorities to make companies behave and act in good faith, the demand of prudent and efficient company secretary has surged noticeably. It is a role that entails a lot of competency and high ethical standards of a company secretary to curb the corporate scandals. However, the duties of a company secretary vary from organization to organization, depending upon the size of company, the sector in which it operates, the type of the organization and policies and procedures it adopts.
Median salary: $218,432
Training needed: According to VETASSES requirements, “this occupation requires a major Actuarial Studies or Actuarial Science. Actuarial Studies is the application of mathematical and statistical analysis in order to solve financial planning problems in areas such as insurance, superannuation and investment (ASCED).”
Job outlook: This is a super-duper exciting job and a very few know about it. Actuarial professionals apply mathematical models to forecast and calculate the probable future costs of insurance or pension. Insurance business is expected to grow everywhere amid different types of uncertainty. In the past, some people either saw it as an investment or the others believed having no value in this product. With increasing awareness about the insurance products with a strong purchasing power of expanding middle class, the insurance business will continue to scale new heights. This occupation has a wide range of products for offer. Specialists in this industry design health, life and property insurance policies. They calculate premiums, pensions and superannuation and make a product which could benefit both parties: individuals (person/tangible asset insured) and product offering companies/governmental departments.
Median salary: $196,144
5. Petroleum engineers
Training needed: Minimum bachelor’s degree in petroleum engineering or in a related engineering concentration. Licensing is also required to work as Professional Engineer.
Job outlook: Australia is known for the deposit of natural resources. The Australian land is rich with the deposit of ore, mineral, coal, uranium, bauxite, and other fossil fuels. Natural resources are prime contributors to the Australian GDP. This job does offer a promising career with the field hardships as usual. Primary duties of a petroleum engineer includes directing and monitoring oil and gas drilling operations, conducting feasibility assessment studies for the same and among others.
Median salary: $185,808
6. Mining production managers
Training needed: Minimum bachelor’s degree in mining engineering or in a related engineering concentration. Licensing is also required to work as Professional Engineer.
Job outlook: As discussed, business of natural resources is one of the prime employing sectors in Australia. Mining production specialists/managers are in a great demand, especially in Western Australia and Queensland. This industry yields billions of dollars each year.
Median salary: $179,439
7. Paving plant operators
Training needed: Trade certification from TAFE is required.
Job outlook: Australia is the biggest island which governs the entire continent in the world. Size matters! Both the federal and state governments aim at developing the world-class infrastructure and over the years this operation has consistently been gaining the speed of changing the landscape suitable to industries and for Australians. It is a usual sight to witness activities of cranes, railway maintenance, construction, drilling and paving. Considering the size of the country, paving plant operators will remain busy for the years to come.
Median salary: $123,281
Training needed: A bachelor’s degree in earth science or a related field is usually required with 4 years of work experience working in the same field.
Job outlook: Western Australia and Queensland where the earth excavation for fossil fuels and minerals are in full swings. Professional geoscientists/geophysicists make more than the median salary in some cases. It all depends upon the previous track record of the candidate and his contribution to discovery and business activities. The pay scale could go as much as $300,000 in some cases. The primary job of geoscientist/geophysicist is to help society meet its needs for natural resources.
Median salary: $117,575
9. Engineering managers
Training needed: Minimum bachelor’s degree or higher qualification is usually required. In some cases, experience of years may be considered.
Job outlook: Another field job paradise it is! Those are driven to do something challenging in engineering fields and not depending on the fate for employment. This occupation offers a stable and job satisfying equation. Engineering managers direct, plan, organize, coordinate and control the technical and engineering operations of large- or mid-sized corporations.
Median salary: $116,732
Training needed: Minimum bachelor’s degree in metallurgy, physics, chemistry, or a related science discipline is required
Job outlook: Metallurgists design uses for new materials in traditional and related industries. These days, industries are also focused on scientific and new medical products. It is expected that material engineers will remain in demand in a near and long-term period.
Median salary: $110,359