Here is a discussion that recently took place about level 5s: Level 5 missions isk an hour?
Level 5s are a complicated topic and I won’t go into all the details here, but I have to ask in the nicest, most sugary way possible… why can’t you do them in lowsec?
2.5-5mil mission reward
2.5-5mil bonus reward
75k-105k LP valued at roughly 800isk per 1 LP
Generally you don’t touch wrecks aside from Operation Wyrmslayer which typically drops 75-300mil. Two weeks ago I got a HG Snake omega valued at 1.2 bil.
Most missions take about 1-5 minutes in a carrier. Rogue Spy (part 1) I do in a snake and it takes 8 minutes.
When I started doing level 5s, I made 400m an hour and I was quite happy with that. After hundreds of hours of tweaking my setup I make about a bil an hour not including loot. Cashing in level 5 LP is a hassle because you get so much of it, and the level 5 LP stores suck so you have to cash in on BULK common items, but its lucrative nonetheless.
To add:
The most important thing is social skills. You need maxed diplomacy, social, and security connections on two characters to be able to cherry pick the good missions and make the big-boy bucks. Also, you have to have faction standing over 7.0, corp standing won’t cut it. Faction standing allows for a lot more declines.