25 Highest Paying Jobs in the US
In this article, we take a look at the 25 highest paying jobs in the US. You can skip our detailed analysis of the US job industry and go directly to 10 Highest Paying Jobs in the US.
Data from the U.S. Bureau of Labor Statistics (BLS) shows medical professionals make the most money in the U.S. Doctors, Surgeons, Nursing staff, and other medicine-related professions generally have the highest salaries exclusively due to the nature of their job.
Although doctors make up only 0.29% of the U.S. population, the scarcity of medical professionals isn’t the only reason behind their high salaries. They undergo extensive training and education, have to stay on top of the latest research trends and work long hours, making them deserving of the highest pay.
Current State of the U.S. Job Market
The COVID-19 pandemic devastated the U.S. economy, costing it more than 10 million jobs. But, the job market has significantly recovered — as a World Economic Forum study showed that the U.S. labor market has been in its strongest form in the last 50 years. It might not last though, as higher interest rates keep hammering the market.
Although the recession in Q4 2022 was a strong possibility, the current job market status shows that the economy is holding on. It is despite major tech companies like Meta Platforms, Inc. (NASDAQ:META), Amazon.com, Inc. (NASDAQ:AMZN) and Alphabet Inc. (NASDAQ:GOOG) announcing massive layoffs.
For instance, Meta Platforms, Inc. (NASDAQ:META) cut the workforce by 11,000 employees in late 2022 and announced in March, 2023 that the company intends to lay off another 10,000 employees, with the CEO of Meta Platforms, Inc. (NASDAQ:META) commenting that 2023 will be the company's "year of efficiency".
Amazon.com, Inc. (NASDAQ:AMZN) also plans to let go over 18,000 employees, with Amazon.com, Inc. (NASDAQ:AMZN) having already laid off 2,300 employees in November, 2022. On the other hand, Alphabet Inc. (NASDAQ:GOOG) announced 12,000 job cuts, representing 6% of Alphabet Inc. (NASDAQ:GOOG)'s workforce. However, despite massive layoffs, the overall unemployment rate in the US was a low 3.5% as of December 2022.
What Makes a Profession High-Paying?
The primary factors affecting the earning potential of a profession are the amount of training or education required, the employee's responsibility level and the job's competitiveness. If fewer people are available for a particular job, the companies will offer more money to attract and retain the best talent.
Besides these factors, your financial compensation may also depend on your job's importance. For instance, there will always be a high demand for competent medical professionals — as they deal with saving human life.
Impact of Education and Experience on Salary Potential
Your education and experience level significantly impacts your salary potential. Various professions require rigorous training and the passing of specialized exams. The concept of scarcity also comes into play here, as only some people are willing to undergo such extensive training.
As you spend several years in a particular position, your professional skill set and knowledge of your industry significantly grow, helping you demand a better salary. Increasing your education level can also increase your chances of landing a high-paying job. Significant data shows that earning a research degree can help you increase your employability chances and earning potential. However, it varies depending on your industry.
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To find the 25 highest-paying jobs in the US, we analyzed data from the Occupational Employment and Wage Statistics (OEWS) program by the U.S. Bureau of Labor Statistics (BLS). The OEWS program annually estimates the employment and wage figures for various occupations in the U.S. Considering those estimates, we listed the 25 highest-paying professions in ascending order based on their annual mean wages.
Here are the 25 highest paying jobs in the US.
25. Computer and Information Systems Managers
A computer and information systems manager organizes, creates, and puts IT initiatives into action. They also supervise the day-to-day activities of the department and offer technical support.
Their duties include assessing business requirements, designing and deploying solutions, and assessing how well IT systems work. Additionally, they create rules and processes, research future technologies, and monitor budget and purchasing activities.
24. General Dentists
A general dentist gives patients total oral health care, such as examinations, cleanings, and preventive care. They also carry out cosmetic and restorative operations. A Doctor of Dental Surgery (DDS) or Doctor of Dental Medicine (DMD) degree is required to work as a dentist. The mean wage of dentists is $80 per hour.
23. Specialist Dentists
The BLS report shows that being a specialist in dentistry is also a financially wise choice. Endodontists are one example of this group. They are experts in doing root canals, repairing dental injuries, performing procedures, and identifying and treating tooth discomfort.
Additionally, they offer preventive treatment and carry out specialized procedures including root canals and dental implants.
The aviation business relies heavily on airline pilots, copilots, and flight engineers because they have the knowledge and expertise to fly and maintain an aircraft safely and effectively. They supervise and manage every part of the flight and guarantee the safety of all passengers and crew. The only downside of these professions is that you might have to spend a lot of time away from home.
21. General Pediatricians
Pediatricians offer complete medical treatment to children. They carry out medical diagnosis and treatment, give vaccinations, and keep track of children's physical and mental growth. Also, they offer preventative treatment, which includes patient education and health risk evaluations.
20. Nurse Anesthetists
A nurse anesthetist gives anesthesia to patients before, during, and after surgical, therapeutic, diagnostic, and obstetrical operations. They must monitor the patient's health, look for hazards, and alter and deliver anesthetics. They also give direction and training to the patient's care team.
19. Managing Directors/Executives
Managing Directors and Executives oversee an organization's direction and management. They establish the organization's strategic vision, ensure its objectives are achieved and direct its operations. In addition, they are in charge of creating and enforcing regulations, hiring and supervising employees, and managing finances and resources.
18. General Physicians
A Physician's job involves giving patients total medical care, including prevention services, diagnosis, and treatment. They evaluate the patient's needs, review medical records, conduct physical exams, and prescribe drugs as necessary. Physicians inform their patients on medical topics and ensure they receive the proper follow-up care.
17. Family Medicine Physicians
From newborns to the elderly, family medicine doctors offer comprehensive medical treatment to patients. They offer preventive care, like screenings and vaccines, and diagnosing and treating a wide range of illnesses.
16. General-Internal-Medicine Physicians
Internal Medicine Physicians coordinate patient care with specialists and offer preventive care, including physicals and vaccines. Additionally, they examine medical histories, write prescriptions, order and interpret tests, and analyze medication histories. They also guide patients and teach them how to manage their nutrition, lifestyle, and health.
Doctors specializing in diagnosing, treating, and preventing mental health issues are known as psychiatrists. They collaborate with patients to create tailored treatment programs and offer counseling, medication management, and other therapies.
They assess, identify, and treat psychological and emotional illnesses like addiction, depression, and anxiety. They also offer psychotherapy and other helpful treatments to assist patients in managing their mental health.
A physician who researches and diagnoses illnesses is known as a pathologist. They use microscopes to examine tissue and cell samples to find illnesses and anomalies. They also confer with other medical experts to create treatment regimens and monitor patient progress. They might also research to learn more about the origins and progression of diseases.
A dentist specializing in aligning the teeth and jaws is an orthodontist. They utilize braces, retainers, headgear, and other corrective appliances to cure malocclusions such as overbites, underbites, crossbites, and open bites. Also, they provide jaw realignment surgery, teeth alignment, and teeth straightening operations. Orthodontists also provide preventive care to lessen the likelihood of future dental issues.
A doctor who focuses on identifying and treating neurological disorders is known as a neurologist. This covers conditions affecting the muscles, spinal cord, peripheral nerves, and the brain.
Neurological diseases are diagnosed using various diagnostic procedures, including CT, MRI, and EEG scans. They offer medical services such as prescription drugs, physical therapy, and surgery. They also offer suggestions for modifying one's lifestyle to help the patient's condition.
A medical professional focusing on the eye and vision care is known as an ophthalmologist. They identify, manage, and treat eye diseases, injuries, and disorders, including blindness and vision loss. Moreover, ophthalmologists may offer preventive therapy, such as advice on dietary and lifestyle modifications, to lower the risk of visual issues.
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Disclosure: none. 25 Highest Paying Jobs in the US is originally published on Insider Monkey.