What are your financial needs? British doctors earn an average of £70,000. But in Australia, they earn an average of a practice's income, which is normally on average somewhere between £150,000-200,000 per year.
The cost of living in Australia is relatively high, but the overall earning potential for doctors is also high. Compared to the UK and Ireland, pay and work-life balance is much more in Australia.
Surprisingly, Luxembourg is considered the most lucrative country for doctors around the world. Luxembourg is a small country in Western Europe, its population is around 632000. Luxembourg is among the top 10 countries that offer high quality of life around the world.
Specialists earn less than €50,000 in many EU countries
GPs are paid less than specialists. For example, specialists earn 85 per cent more in the UK, where the average annual gross salary for GPs was €73,408 while specialists received €136,375 on average. In 2020, the difference was 45 per cent in the Netherlands.
Salaries are on average 17.4% higher in Australia than they are in the UK. It means that many of the advantages that cheaper housing and food offer the Brits are wiped out by the lower wages and the lower purchasing power.
The average cost of living in Australia ($2104) is 16% more expensive than in the United Kingdom ($1818). Australia ranked 11th vs 16th for the United Kingdom in the list of the most expensive countries in the world.
While the cost of energy bills and food shops might be on the rise, doctors still earn a very competitive salary, so if you move to the UK to become an NHS doctor, you can expect to live very comfortably. Also, the NHS offers excellent perks for its staff.
The average doctor salary in Australia is $156,000 per year or $80 per hour. Entry-level positions start at $122,508 per year, while most experienced workers make up to $253,500 per year.
The majority of medical professionals do feel that becoming a doctor is worth it. In a recent survey of UK junior doctors, 67% answered that they did think that working in medicine was worth it, despite the significant downsides to being a physician in the NHS.
→What is the average salary of a doctor in the UK? The average salary of a doctor in the UK is £80,000 to £150,000 per year, depending on their specialty and level of experience.
The average salary of a doctor in the UK is GBP 74,800 (INR 70.21 lakhs) per annum. An MBBS doctor's salary in the UK is between GBP 61,300 to GBP 282,000 (INR 56.48 lakhs – INR 2.59 crores) per year. A doctor's salary in the UK differs with the speciality and experience.
British doctors earn an average of £70,000. But in Australia, they earn an average of a practice's income, which is normally on average somewhere between £150,000-200,000 per year. And they do it with much less mental stress and fatigue.
And internationally trained doctors are more likely to move on for better pay or conditions. British doctors in Australia and New Zealand cite a better working environment, higher staff morale, two to three times the pay of UK practice, greater control over hours and more respect for the profession.
Though it seems relatively less expensive compared to Australian medical schools, the cost of living in the UK happens to be higher. However, a bigger advantage to study medicine in the UK is free access to medical care for students, unlike in Australia that demands a health insurance.
Doctors are valued and highly trained: they are deserving of an income that reflects this. And arguably, as a country's health and wealth rises, so should doctors' pay. But Australian doctors are paid at thousands of dollars more than would be predicted on the basis of the national Gross Domestic Product (GDP).
The average annual fees for PHD in Australia is 40,000 AUD- 60,000 AUD (16- 33 Lakh INR). After completing a PhD in Australia one can work as a Research Scientist, R&D Manager, Research Officer and earn an average salary of 85,000 AUD (46 lakh INR).
What is the average doctor salary in Australia? The average yearly physician or doctor salary (working in a general practice) is a little over $101,000. This is closely behind a physician or doctor working in an emergency department in a hospital, who brings in about $102,000.
On the whole, doctors working in medicine are happy. As with any job, there are downsides to working as a physician but a study of 11,516 UK-trained doctors revealed that the majority of them rated their work as highly enjoyable (scores 8–10) five years after graduation.
Middle class
Typical jobs include: accountants, architects, solicitors, surveyors, social workers, teachers, managers, specialist IT workers, engineers, doctors, nurses and civil servants.
Australia has a much more laid-back culture than England. Australians are known for their mate ship and easy-going attitudes. There is a strong focus on enjoying life and having a good time. This doesn't mean that Australians don't work hard, but they definitely know how to enjoy their leisure time.
The figures, which include property, cash, equities and business interests owned by individuals, reveal that the UK is also the fourth richest in terms of average wealth per person ($147,600), behind Switzerland, Australia and the US.
Generally, food is cheaper in the UK. Only the price of milk and local cheeses is lower in Australia – all else is more expensive. (There are large variations in prices depending on the region and city where you are.)