paycheck of one of the highest paying jobs in the US

Highest Paying Jobs in the US

One of the major factors that many people consider while choosing what career path to follow is the salary being offered. The higher the salary, the more lucrative the job seems. However, studies have shown that this is not always the case. Organization culture and work environment are just as important. In recent years, the highest paying jobs have been in the healthcare and technology sectors.

The highest paying jobs are limited in number. The vacancies available in the healthcare and technology sectors are not enough for everyone. Fortunately, the manufacturing industry has emerged as an alternative for many people seeking employment opportunities. The education qualification requirements of the manufacturing industry are not as demanding as those of the healthcare and technology industries, and the vacancies have significantly increased over the past 12 months.

Current Job Market Trends

  • Manufacturing Industry

There has been a significant increase in job creation in the manufacturing industry over the last two years. A jobs report published in July indicated that 37,000 jobs were created in July 2018 alone. This marked the highest number since December 2017. The July numbers brought the total number of jobs created in the previous 12 months to 327,000.

This was the strongest manufacturing job growth since 1995 when the number stood at 345,000. Although it is unclear what exactly drove this job boom, the National Association of Manufacturers has given some credit to new and improved government policies.

  • Healthiest Job Markets

Since January 2017, the following states have had the greatest job opportunities:

  • Georgia
  • Colorado
  • Idaho
  • Nevada
  • Utah
  • Tennessee
  • New Mexico
  • Texas
  • Massachusetts
  • Minnesota

According to government data, since the beginning of 2017, Georgia has seen the number of employed residents increase by almost 11,000 people per month. This represents the highest number of jobs created among all states. The data further shows that 10 states had at least 100,000 new jobs each. These states are Massachusetts, California, Colorado, and Virginia.

In terms of growth and labor force, Colorado and Massachusetts both tie at the first position. In Colorado, the labor force participation rose from 65.5 percent in January 2017 to 67 percent in June 2018. In Massachusetts, the same rose from 63 percent to 64.5 percent in the same period. The biggest percentage of employed people per state was recorded in North Dakota with 68.9 percent, while Minnesota came in second with 68.4 percent. West Virginia had the lowest labor force participation with the percentage of the employed population at slightly above 50 percent.

  • Unhealthy Job Markets

It has not been sunshine in all states. Some states recorded a drop in the number of people employed. In New Jersey, for example, the number of people who are employed reduced by 32,000 people. Other states that recorded a drop in employment rates include:

  • Alaska
  • Connecticut
  • Pennsylvania
  • North Dakota
  • Wyoming
  • Unemployment Rates

The state with the lowest unemployment rate in June 2018 was Hawaii with 2.1 percent. Alaska, on the other hand, had the highest unemployment rate with 7.1 percent. In June 2018, the highest recorded drop in unemployment rate was by 0.2 percent in South Carolina, New Mexico, and Pennsylvania.

15 Highest Paying Jobs in the US

There are many factors to consider before deciding which job suits you best. Salary is a major influencing factor. However, a job that offers a high salary is also most likely going to require that you have high educational qualifications. We will look at the top 15 highest paying jobs in the US and their educational requirements. We will also look at the median annual base salary of these jobs.

Physician

Physician

If you want to be in one of the highest paying jobs in the US, then you should consider being a physician. The median annual base salary of a physician is $195,842. For you to become a physician, you have to go through a rigorous education program and training. Before you are eligible to practice, you have to earn a bachelor’s degree, attend medical school for 4 years, and complete a 3- to 7-year residency program after medical school.  It will take you between 11 and 14 years to become a physician.

Pharmacy Manager

Pharmacy Manager

At the second position among the highest paying jobs in the US is another job in the healthcare sector. A pharmacy manager takes home a median annual base salary of $146,412. Becoming a pharmacy manager is not an easy task either. You must a have a postgraduate degree - Doctor of Pharmacy (Pharm.D). You are also required to complete post-secondary courses in chemistry, biology, and physics.  Additionally, you must have at least 2 years of study at the undergraduate level, and you must pass the Pharmacy College Admission Test (PCAT).

Pharmacist

Pharmacist

The median annual base salary of a pharmacist is $127,120. Pharmacists work closely with physicians to ensure that patients get the best drugs and can use them accordingly. Aspiring pharmacists must undergo 2 years of undergraduate study in any discipline. From there, they must attain a Doctor of Pharmacy degree from a reputable medical school. In addition, they must pass the North America Pharmacist Licensure Exam.

Enterprise Architect

Enterprise Architect

Attracting a median base salary of $115,944, an enterprise architect job appears at number 4 among the highest paying jobs in the US. The role of an enterprise architect is to create a complete working design for the enterprise they work for. The minimum education requirement for this job is a bachelor’s degree in any of the following fields:

  • Business architecture
  • Data architecture
  • Network architecture
  • Application architecture
  • Security architecture

Corporate Counsel

Corporate Counsel

Corporate counsels are lawyers employed by corporations, businesses, or organizations to act as advisors on legal matters.  The median base salary for a corporate counsel is $115,580. The education requirement for this job is a law degree with a specialization in corporate law. Candidates must also pass the state bar exam.

Software Development Manager

Software Development Manager

A software development manager is in charge of a team of software developers and takes home a median base salary of $108,879 per year. The minimum education requirement for this job is a bachelor’s degree in computer science or related technical field. Experience in software design and proficiency in several programming languages is often required.

Physician Assistant

Physician Assistant

Physician assistants work hand in hand with qualified physicians to provide medical services to patients. Physician assistants make around $108,761 annually, making theirs one of the highest paying jobs in the US. The minimum education requirement for this job is a degree in health sciences.

Software Engineering Manager

Software Engineering Manager

A software engineering manager earns around $107,479 per year. The education requirements for this job are similar to those of the software development manager.

Nurse Practitioner

Nurse Practitioner

The healthcare industry has another entrant among the highest paying jobs. A nurse practitioner takes home a median base salary of $106,962 annually. A master’s degree with care specializations in pediatric, geriatric, neonatal, acute, and occupational healthcare is required for this job.

Software Architect

Software Architect

This job attracts a median base salary of $105,329 annually. The minimum education requirement for this job is a bachelor’s degree in software engineering. A bachelor’s degree in computer science, math, or information systems is also acceptable. Senior level positions may require a master’s degree.

Engineering Manager

Engineering Manager

An engineering manager is in charge of a group of engineers during product design and development. They have considerably longer working hours than other professionals. The median base salary for this job is $105,260. For you to be an engineering manager, you need to have at least a bachelor’s degree in a specialized field of engineering from a school that is approved by ABET.

Application Development Manager

Application Development Manager

An application development manager earns a median base salary of $104,048 annually. A bachelor’s degree in application development or software development is accepted as the minimum education requirement.

Plant Manager

Plant Manager

With a median annual base salary of $103,892, a plant manager job is one of the highest paying jobs in the US. Aspiring candidates for this job need a degree in industrial management or a related technical field. Also, experience in manufacturing and production is preferred by most employers.

IT Program Manager

IT Program Manager

An IT program manager makes a median annual base salary of $102,929. The minimum educational requirement for this job is a bachelor’s degree in computer science, information technology or IT project management.

Solutions Architect

Solutions Architect

Closing our list of the highest paying jobs in the US is the solutions architect job. Solutions architects are also known as systems architects. They build and integrate information and computer systems to solve problems. A degree in computer science, information technology, software engineering, or a related technical field is required for this job.

Conclusion

A huge percentage of the highest paying jobs in the US are in the healthcare and technology sectors. If you want a high paying job, then you should consider these fields. However, it is harder to shift from your current job to a job in the healthcare sector due to the time it takes to complete medical school. Technology jobs are easier because you can learn on your own or you can enroll in an online class.

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