Prime Minister Malcolm Turnbull is the highest-paid politician in the OECD, new figures show, earning up to 10 times the average wage - the second-highest disparity with the majority of workers in the developed world.

Mr Turnbull's base pay rose to $527,854 a year after the independent Remuneration Tribunal ordered a 2 per cent pay rise for politicians last year, delivering the prime minister a $10,000 pay jump.

The analysis by market research firm IG puts Mr Turnbull above Swiss President Alain Berset, who will earn $483,000 this year, and US President Donald Trump, who has earned $400,000 in his first year in the White House.

Mr Turnbull is not only ahead in absolute terms but also relative to the average worker and gross domestic product per capita.