This is a million dollar question? If you would ask me it would be the shortest possible one, the one which pays me the most and the one which gives me a specialist recognition the fastest. Read this article for a head to head comparsion between the AON (area of need) and AMC (australian medical council).
In a nutshell AON scores over AMC exam in every aspect. The reason being
1. After you apply to the AON post, you are interviewed and selected within 6 months or even less. You are given a temperory liscence to practice which through the AMC route would at least take 1.5 years.
2. Your approval from the AMC is the responsibility of the hospital/board which is employing you in the AON post. They see to it that your AMC approval is fast tracked.
3. You may be exempted from the AMC examination if they feel so.
4. For post graduates, AON specialist jobs are at decent places and beautiful countryside towns. The area of work may be a hardcore rural for GP's who are post MBBS.
5. The respective Royal Australian College can award you the fellowship in the respective field within 1-2 yrs. Working in an AON post you may just have to give a clinical exam and may be exempted from written exam.
6. In AON post you are paid like a consultant from day 1. In australia the minimum award salary by any state is 1,30,000 AUD/annum. This is decent money to live a luxurious lifestyle in a good australian countryside town.
7. The only thing common in the two routes is that you need to have an IELTS cleared which is must by all australian health state boards after July 2005.
8. Once you get an AON appointment apply for australian immigration immediately. This gives you the advantage of getting a PR (permanent resident) card within 6months, may be already before you leave your country. After 2 yrs as a PR in australia you become an australian citizen and then you do not require a visa to any other country like US/UK or Canada.
If you want further details please feel free to write to me.
In order to apply for AON post read an article submitted by me earlier regarding the vacant AON posts in Australia as of 28th October, 2005.
Best of Luck