The Reality of Graduate Salaries in Australia
Dreaming of a six-figure salary? For many Aussie grads, that dream is still just that - a dream. While some degrees open doors to lucrative careers, others lead straight into the financial trenches.
Based on tax return data from 2022-23, the average Australian income was $74,240, but many graduates are earning far less than that, even after years of relentless study.
We were told by our parents and teachers that a degree was a ticket to a cushy life - but a 2024 survey of over 117,000 graduates reveals the sobering reality: most degrees aren't delivering the easy paychecks we were promised.
The Gender Pay Gap Persists
Female graduates are particularly affected, with the gender pay gap persisting across nearly all study areas. The widest gaps appear in:
- Tourism, hospitality, personal services, sport and recreation ($10,200)
- Architecture and built environment ($9,300)
- Law and paralegal studies ($5,000)
- Science and mathematics ($5,000)
In fact, female median salaries were only higher than males in pharmacy and communications, with a gap of just $600 and $3,100 respectively.
The Lowest-Paying Graduate Jobs
The 2024 GOS survey shows the lowest-paying graduate jobs fall between $59,200 and $73,100 a year - well below the national average.
1. Pharmacy
Think Pharmacy grads are rolling in cash? Nope. Despite boasting one of the highest full-time employment rates at 91.4%, pharmacy graduates earn just $59,200 on average - a figure that barely scratches the national average. Many end up working as community pharmacists, hospital pharmacists, or in pharmaceutical sales, but the pay is modest compared to the long study hours required.
2. Creative Arts
Passion pays the price. Graduates in Creative Arts earn an average of $62,600, proving that loving your work doesn't always mean loving your paycheck. Careers range from graphic designers, performers, and writers to curators and gallery assistants, but job security and income often fall short of expectations.
3. Tourism, Hospitality, Personal Services, Sport and Recreation
Grads take home just $63,900 on average working in these fields - and women earn $10,200 less than their male counterparts. Typical roles include hotel managers, event co-ordinators, tour guides, fitness instructors, and recreation officers.
4. Communications
Grads who studied Communications might be great at storytelling, but the numbers ruin the plot. With average salaries of $65,200, this field sits near the bottom of the graduate pay ladder - though women earn slightly more than men, by $3,100. Careers often include journalists, PR officers, social media managers, and media co-ordinators, where creativity is rewarded more than cash.
5. Veterinary Science
Saving lives isn't cheap - or is it? Despite being a highly specialised and in-demand profession, Veterinary Science grads earn just $70,000 on average. Many work as veterinarians, animal health officers, or lab researchers, but the emotional reward doesn't always match the financial one.
6. Agriculture and Environmental Studies
They're keeping the planet running, but their own wallets are running on empty. Agriculture and Environmental Studies roles are crucial for society, but with average salaries of $71,500, it's hard to believe. Graduates often become environmental consultants, agronomists, farm managers, or conservation officers.
7. Business and Management
It might surprise some that Business and Management graduates don't automatically rake in the big bucks. With an average starting salary of $72,000, the field sits low on the graduate pay scale. Typical roles include junior managers, HR assistants, project co-ordinators, and administrative officers, where career progression matters more than entry-level pay.
8. Nursing
Frontline heroes, meet modest pay. Nursing graduates earn $72,000 on average, which is lower than you might expect given the demands and responsibility of the role. Careers include registered nurses, clinical nurse specialists, and midwives, with high emotional labour and long shifts making the salary feel even smaller.
9. Science and Mathematics
Numbers don't lie - but apparently, they don't pay that well either. Science and Mathematics graduates take home $72,400 on average, sitting below the national average income. Roles include research assistants, laboratory technicians, data analysts, and secondary school maths/science teachers, crucial for innovation yet hardly compensated.
10. Humanities, Culture and Social Sciences
Loving literature, history, or sociology? You might love the work, but your bank balance might not. Humanities, Culture and Social Sciences graduates earn an average of $73,100 - just scraping above other low-paying fields. Common jobs include museum officers, community workers, policy analysts, and cultural program co-ordinators.
The Highest-Paying Graduate Jobs
Meanwhile, the highest-paying graduate jobs start around $75,000 and can top $100,000 a year - well above the national average.
1. Dentistry
Dentistry graduates are smiling all the way to the bank. With an average starting salary of $103,300, they top the pay scale. Most become general dentists, dental surgeons, orthodontists, or work in private practices, combining high pay with a secure, high-demand career.
2. Medicine
Medicine graduates are cashing in on years of study, earning $86,800 on average. Careers include hospital doctors, GPs, surgeons, and medical specialists, where the workload is heavy but the financial and societal rewards are significant.
3. Social Work
Social work grads might expect modest pay - but some earn $82,000 on average. Jobs include case workers, community service managers, child protection officers, and counsellors, helping people navigate life's challenges while earning a respectable salary.
4. Engineering
Engineering graduates are building more than bridges - they're building bank balances. Average pay is $80,000, with roles in civil, mechanical, electrical, and software engineering, often blending technical problem-solving with career growth opportunities.
5. Teaching
Teaching might be a labour of love, but new teacher grads surprisingly earn a decent $78,800 on average. Common positions include primary and secondary school teachers, special education instructors, and education co-ordinators.
6. Law
Law grads are getting more than a foot in the courtroom door, with average pay of $76,000. Career paths include solicitors, paralegals, legal researchers, and corporate lawyers, offering prestige and long-term earning potential.
7. Computing
In the digital age, Computing grads are proving their worth with $75,300 on average. Typical roles are software developers, IT consultants, systems analysts, and network administrators, in high-demand tech sectors.
8. Psychology
Graduates in Psychology are learning minds - and making money, averaging $75,100 when starting out. Careers include clinical psychologists, organisational psychologists, counsellors, and research assistants.
9. Rehabilitation
Turns out helping people get back on their feet can also be financially rewarding. Rehabilitation graduates earn $75,000 and often work as physiotherapists, occupational therapists, or rehab co-ordinators.
10. Architecture
Architecture grads might be designing skylines, but they're also designing solid bank accounts. Average pay is $75,000, with roles such as architects, urban planners, landscape designers, and project managers.
The Bottom Line
So not every degree delivers a big payday - and that's the brutal truth many young Aussies face after tossing the cap in the air.
In a cost-of-living crunch, the value of higher education has never been under more pressure.
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