America’s highest paying jobs have been shifting over the past few decades, owing to change in our economic outlook and our major industries.
Understanding the best paying jobs in America isn’t just important for those currently looking for work (or contemplating a change). The best paying jobs also reflect changes in industry; they show the sectors that are most likely to grow in the coming years.
Here are the best-paying jobs to have in the United States for 2018:
Anesthesiologists, Surgeons, and OBGYNs
Healthcare is still one of the major expenses in America. The United States has the highest per capita healthcare spending in the world, calculated at $9,892 per capita in 2016. Comparatively, our neighbors to the north have a per capita spend of $4,753, and our neighbors to the south have a per capita spend of $1,080. It’s no wonder that some of our most highly paid jobs are in the medical field, especially when you consider the amount of education and experience that has to go into it.
Anesthesiologists top the charts ($269,600 annually) with surgeons coming in a close second ($252,910 annually). OBGYNs make $234,310 annually (mean salary), while oral and maxillofacial surgeons make $232,870. Orthodontists come in at $228,780 and physicians at $201,840. Psychiatrists have a mean salary of $200,220. The least paid healthcare specialists are nurse anesthetists ($164,030), prosthodontists ($168,140), dentists ($173,860), and pediatricians ($184,240).
Basically: it’s still good to be a doctor. But, consider the fact that most dentists have an average of $166,750 in school debt, which is often paid at a total cost of $419,738 when calculating in interest.
Petroleum Engineers
Here is where we start to see a shift in the current climate, as petroleum engineers are one of the highest paying jobs in America now — and the highest paying job that isn’t in the healthcare field. Petroleum engineers are currently making an average of $147,000, due to the increase in energy-related spending in our country.
Oil technology has become central to our economic growth, and we are now putting out more oil and gas than ever before. Not only this, but it doesn’t appear to be slowing: the oil and gas industry is likely to be a safe bet for some time, especially due to the investments that have recently been made in hydraulic fracturing.
IT Managers
IT managers are currently making a mean salary of $145,740, and that’s important to note given that IT managers come from a wide variety of backgrounds and are found throughout virtually every business. For those who want to find a job, the IT field is a very welcoming one. Technology as a whole is growing in importance, but it isn’t growing in any one sector; instead, companies are seeing their tech-related spending increase throughout every industry. IT managers across many spectrums, from finance to healthcare, may see their salaries increase as tech becomes more important to these businesses.
Marketing Managers
Marketing managers are in the business of making more money, and businesses are always willing to spend more to make more. Marketing managers have a mean salary of $131,180, which certainly isn’t bad for a position that also has a surprising amount of agility. Like IT managers, marketing managers can work in practically any field, and many large companies have a need for those in marketing. Marketing managers also have a low unemployment rate at 2.8%.
Lawyers
Finally, we get down to the lawyers. Lawyers aren’t as highly paid as many think, with a mean salary of $118,160. A lot of this has to do with the fact that many lawyers aren’t full partners at a firm, but instead may be working for the state or may be working as an associate. Lawyers do, however, have an unemployment rate of 0.7% — there’s always work somewhere for a lawyer, and there’s always money in the legal business.
These highly paid jobs show where America is currently investing money, but that doesn’t always indicate where it’s ideal to invest money now. Growth in some sectors can lead to a decline later on, as sometimes an industry can over invest in its own future. When it comes to jobs, this can lead to a large number of new graduates in an industry that cannot support that number, ultimately leading to a decline of salaries. Nevertheless, this is a good place to start for those who are wondering about America’s fastest-growing industries.
Regards,
Ethan Warrick
Editor
Wealth Authority
