“Will my degree actually pay off?”
As every student knows—and understandably so—the gap in graduate pay in Australia can exceed $40k a year at entry level. That difference isn’t just a cut in pay; it can rewrite your whole decade, turning student debt into bad dreams or into an early mortgage freedom party.
So what are the biggest money-spinners at Australian unis this year? Which bachelors and masters are worth the time when the debt is in the £70,000 and the payback is in your twenties? And can you skip HECs and maths and still earn six figures?
We plugged the numbers from QILT, GradAustralia, the Bureau of Logistics, labour force stats and several employer data dumps to show the blunt money figures—so you can choose based on salaries, not just sparks.
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Your major effectively kicks off your pay scale, and that early number rises through raises and swaps—tiny differences at the start can multiply into six digits after ten years.
Fresh graduates earn a $71,000 median salary (QILT), close to Australia’s $72,500 national median but well below the $104,500 national average—showing how much top degrees can boost early pay. (Australian Bureau of Statistics)
Dentistry grads start near $94,400, Medicine $85,000, and Engineering $75,000, while Creative Arts sits at $59,500. Your choice of field can mean a $30k+ gap from day one.
Data sources used in this guide
QILT (Graduate Outcomes Survey), ABS earnings releases, and GradAustralia/Prosple employer salary snapshots inform the comparisons you’ll see throughout this article. (Australian Bureau of Statistics, Prosple)
“Your degree is often your biggest financial investment before buying a house—make it count.”
Median full-time salaries 4–6 months after graduation
|
Rank |
Degree / Study area (QILT) |
Median Graduate Salary |
Common Roles |
|
1 |
Dentistry |
$94,400 |
Dentist |
|
2 |
Medicine |
$85,000 |
Junior doctor (intern/resident), GP trainee |
|
3 |
Social Work |
$77,300 |
Social worker |
|
4 |
Engineering |
$75,000 |
Engineer (mining, petroleum, civil, electrical) |
|
5 |
Teacher Education |
$75,000 |
Primary/secondary teacher |
|
6 |
Computing & Information Systems |
$74,400 |
Software developer, data/AI roles |
|
7 |
Law & Paralegal Studies |
$73,000 |
Graduate solicitor, paralegal |
|
8 |
Agriculture & Environmental Studies |
$71,100 |
Environmental scientist, agronomist |
|
9 |
Rehabilitation |
$71,000 |
Physiotherapist, occupational therapist |
|
10 |
Psychology |
$71,000 |
Provisional psychologist, case worker |
Figures are medians for undergraduates employed full-time soon after finishing; outcomes change with experience and location.
Plan to move into one of the highest paying degrees in Australia? PickMyUni can help you compare universities, entry pathways, and scholarships—even if you’re changing courses mid-degree.
Postgraduate qualifications can fast-track you into senior roles and higher salary brackets. According to the QILT Graduate Outcomes Survey 2023, the median salary for postgraduate coursework graduates is $91,600, compared to $71,000 for bachelor’s graduates. Some master’s programs stand out for delivering six-figure outcomes almost immediately.
|
Master’s Degree |
Median Salary (AUD) |
Common Roles |
|
Master of Business Administration (MBA) |
$120,000+ |
Senior Manager, Consultant, Executive |
|
Master of Engineering Management |
$110,000+ |
Project Manager, Engineering Director |
|
Master of Data Science |
$105,000+ |
Data Scientist, AI/ML Engineer |
|
Master of Finance |
$100,000+ |
Investment Analyst, Corporate Finance Manager |
|
Master of Cybersecurity |
$100,000+ |
Security Consultant, Cyber Risk Analyst |
🔍 Highlight: Many of these master’s degrees offer ROI within 2–3 years through higher salaries and faster promotions.
💡 Need help applying to a top-ranked Master’s program?
PickMyUni’s expert advisors can match you with universities that deliver strong career outcomes. Get in touch today.
Would you like me to also create a salary comparison chart (Bachelor vs Master outcomes) for extra impact in this section?
Not every six-figure salary in Australia comes from a university qualification. Some careers rely on vocational training, licenses, or industry experience—and they can pay just as well (or better) than degree-based roles.
Here are the Top 10 highest paying jobs in Australia without a degree:
|
Job |
Typical Salary (AUD) |
Pathway |
|
Air Traffic Controller |
$130,000+ |
Airservices Australia training & certification |
|
Construction Manager |
$120,000+ |
TAFE qualification + industry experience |
|
Real Estate Agent |
$100,000+ (commission-based) |
Certificate IV in Real Estate Practice |
|
Commercial Pilot (with license) |
$100,000+ |
CASA-issued pilot license & flight hours |
|
Police Officer |
$90,000+ |
Police academy training program |
|
Electrician |
$85,000+ |
Apprenticeship + trade license |
|
Entrepreneur / Business Owner |
Varies widely |
Self-employment / business ownership |
|
Mining Worker |
$100,000+ |
Mining certifications & site-specific training |
|
Firefighter |
$90,000+ |
Fire & Rescue recruitment training |
|
Crane Operator |
$85,000+ |
High-Risk Work Licence (HRWL) |
📢 PickMyUni Insight: If university isn’t your path, don’t worry—Australia’s TAFE, trade, and license-based careers can deliver high earning potential with shorter training times. PickMyUni can help you explore these options alongside university degrees to find the best fit for your future.
In the first 4–6 months after graduating, several regional universities post the highest undergraduate median salaries—for example
|
Regional University |
Typical Salary after Graduating |
|
$80,000 |
|
|
$78,000 |
|
|
CQU |
$75,000 |
Within the Go8,
|
Go8 University |
Typical Salary after Graduating |
|
$75,000 |
|
|
$73,000 |
|
|
$70,900 |
|
|
$70,000 |
|
|
$72,000 |
|
|
$67,300 |
|
|
$70,000 |
|
|
$65,300 |
On the postgraduate side, pay gaps by uni are even clearer: UNSW’s median is $120,000 vs Bond $80,900 (2023 GOS).
UNSW also reports the top median salary in the Go8 at both 4–6 months and three years after graduation based on QILT results. (UNSW Inside)
Below are well-regarded options with strong salary/employment signals in QILT/ComparED and visible hiring pipelines. Always check the latest ComparED data for your exact campus/discipline.
|
Field |
University |
|
Dentistry (highest UG median nationally) |
JCU, UQ, USyd, Charles Sturt, Adelaide |
|
Medicine |
Monash (UG entry), USyd (MD); also review UNSW, UQ pathways |
|
Finance (Business & Management) |
UNSW Business (strong outcomes; Go8 leader on pay), plus Melbourne, Monash, UQ for employer reach |
|
Engineering |
UNSW, Monash, UQ, QUT—all show solid early salaries and strong recruiter interest across sub-fields |
PickMyUni takeaway:
Short-term salaries can favour regional providers; brand-name metros often shine three years out and in global employer rankings. Tell us your field and target city, and PickMyUni will map the highest-paying programs and entry pathways for you.
UNSW, Monash, UQ, QUT—all show solid early salaries and strong recruiter interest across sub-fields
Final Thoughts — Choose Smart, Not Just Safe
At the end of the day, it’s not just the degree title that matters. What truly drives earning power is the combination of:
Choosing wisely means balancing passion with pay, while considering where the job market is heading. With the right support, you can align your study path to a future that delivers both satisfaction and strong financial rewards.
Q1. What is the highest paying degree in Australia right now?
Dentistry leads the list, with graduates earning around $94,400 shortly after completing their studies. Medicine and Engineering also rank high.
Q2. Do master’s degrees in Australia pay more than bachelor’s?
Yes. Postgraduate coursework graduates earn a median of $91,600, compared to $71,000 for bachelor’s graduates. Certain programs like the MBA average $120k+.
Q3. Can I get a high-paying job in Australia without a degree?
Absolutely. Roles like air traffic controller, construction manager, and mining worker can pay over $100k with the right training or license.
Q4. Which university offers the highest graduate salaries?
According to QILT, UNSW leads the Group of Eight for median graduate pay, while several regional unis (like USQ and CQU) report some of the strongest immediate outcomes.
Q5. Are law and finance degrees still worth it?
Yes, though salaries vary by employer and location. Law graduates report $73k median starting pay, and Finance/Business graduates around $69k, with rapid salary growth in big firms.
Q6. How long does it take to see ROI on a degree?
For fields like medicine or dentistry, ROI comes after several years of study but salaries climb quickly. For master’s programs such as MBA or Data Science, ROI is often within 2–3 years due to higher entry-level pay.
Q7. How can PickMyUni help me choose the right degree?
PickMyUni compares universities, salaries, and entry pathways, helping you find degrees with the best balance of passion and pay. You can also submit your own uni review to guide others.
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