The title of highest paying mining job goes to… project directors and drilling operations directors. These positions can earn more than $400,000 per year, making it by far the most lucrative job in the industry.
The highest paying mining job in Australia is that of a geologist. Geologists are responsible for exploring and mapping new areas for potential mining sites. They also help to determine the best location for mining operations and negotiate access with landowners.
A week's pay in one day
The average FIFO electrician salary in Australia is $126,750 per year, or $65 per hour, according to Talent. Entry-level positions start at $107,965 per year, while experienced workers can make up to $152,100 per year.
The old eight days on site, six days at home (8/6) roster is the most generous and costly of the FIFO rosters.
The average mining salary in Australia is $116,917 per year or $59.96 per hour. Entry-level positions start at $95,000 per year, while most experienced workers make up to $167,932 per year.
How much does a Fifo make in Australia? The average fifo salary in Australia is $103,579 per year or $53.12 per hour. Entry-level positions start at $87,750 per year, while most experienced workers make up to $146,250 per year.
The Australian hardrock underground mining industry is one of those unique industry's. Where what an individual person does as a miner, makes a huge difference to how much money a company makes. This is why miners get paid so much money. Yes, they work long hours, 12 hours a day, often for weeks at a time.
Good salary: FIFO work usually pays well. Although the work is demanding, you will be rewarded with a lucrative salary. The higher your salary, the more you will be taxed so make sure you check if that is worth it for you.
Employees who work in a remote area (as defined by the ATO) away from their usual place of residence may be eligible to salary package the cost of airfares to and from your usual place of residence to your workplace with the fly-in, fly-out benefit.
The FIFO benefit is available to eligible employees who work in a remote area and are required to travel from their usual place of residence. This FIFO benefit enables you to salary package your airfares and pay using pre-tax dollars, which will also lower your taxable income and help you save on income tax.
Casual employment (hourly rates), you only get paid for the hours you work. For example if you were on a 2/1 Roster, you would be paid for the two weeks on site but not the week spent at home on R&R. Keep in mind FIFO positions always pay a lot more which means you would still most likely come out on top.
The FIFO lifestyle involves workers flying to non-residential based gas, oil and mining operations to work ten to fourteen hour shifts for two to six weeks at a time.
Getting there: fly in, fly out
While 'on', most FIFO employees work six or seven day weeks, with shifts often lasting twelve hours. The benefits of the FIFO life include generous compensation (mining companies provide travel and living allowances to FIFO workers), extended breaks, and the ability to live anywhere.
The salaries of Coal Miners in the US range from $11,105 to $294,800 , with a median salary of $53,905 .
BHP. Needing no introduction, BHP Group comes in at number one. The Australian mining giant works in over 90 locations over six continents, but is mainly concentrated in Australia and Canada. BHP produces essential commodities through their assets, including iron ore, copper, nickel, potash and metallurgical coal.
The average annual salary for Excavator Operator jobs in Australia ranges from $125,000 to $145,000.
FIFO can put a lot of stress on families and relationships. Extended periods of time away from home can leave partners and children feeling that they are on their own a lot of the time, and the worker can feel isolated and cut off.
Working FIFO can be hard on relationships and, if I'm honest, when you fly home you're a bit “manic”. You have had 14 days to brood and think about what you're going to do on days off and you hit the ground excited and sleep-deprived, straight off nightshift, and it's a bit like someone let you out of a cage!
The advantages of using FIFO are that it reduces the risk of inventory obsolescence, it shows a higher net income and a lower cost of goods sold in periods of rising prices, and it is simple to apply and understand.
FIFO also has several financial advantages over LIFO. FIFO usually results in higher inventory balances on the balance sheet during inflationary periods. It also results in higher net income as the cost of goods sold is usually lower. While this may be seen as better, it may also result in a higher tax liability.
Critical minerals mining and processing are complex operations in remote locations that need highly skilled workers and technicians in a range of fields. We need highly skilled metallurgists, mining engineers, industrial chemists, earth scientists and many more if we are to fully capture the opportunity at hand.
The mining process includes physically demanding jobs and exposes workers to various physical risks such as extreme temperatures, humidity, noise, and vibrations, as well as extended work hours and shift work.
The mining industry can be very difficult to get into, especially if you have no previous experience or qualifications. You need to be persistent and have patience, when applying for mining jobs. If you're serious about getting a mining job then try everything until you have exhausted all avenues.