Discover The Highest-Paying Jobs In The U.S. – Forbes Advisor

Whether you’re a college student choosing your major or a working professional contemplating a career shift, many factors contribute to picking a job. But one detail can be particularly important: What career makes the most money?

The right job for you depends on more than just salary. Still, earning potential is a key concern, especially if you’ve invested time and money in higher education.

So, what are the highest-paying jobs you can get? If you’ve ever considered a career in healthcare, we have good news: Medical professions account for nearly all of the most lucrative occupations in the United States.

This article will explore high-salary jobs and how to pursue them. We’ve included data from sources like the U.S. Census Bureau and the Bureau of Labor Statistics (BLS) to provide context about salary and employment trends.

Key Statistics

To understand how the highest-paying jobs fit into the overall employment landscape, let’s start with some key facts about U.S. workers.

• As of July 2022, the Census Bureau reports that the U.S. population stands at over 333 million people. Of these, about 160 million Americans are currently working.
• The highest-earning professions make about 300% more than the average U.S. household income.
• About two-thirds of U.S. workers do not have college degrees, limiting salary potential and job security for many Americans.
• Asian American households make the highest median annual income at $94,903.

How Many People are Employed in the U.S.?

Broad social and economic trends affect how many people are employed in the U.S. at any time. In recent years, the Covid-19 pandemic has been one of the most dramatic factors affecting American employment.

BLS data shows that from 2010 through the beginning of 2020, the number of U.S. workers grew steadily as the country recovered from the Great Recession of 2007 to 2009. Employment rose from about 130 million in 2010 to over 152 million in February 2020. When the pandemic took hold in March of that year, employment numbers plummeted, falling back to 2010 levels by April 2020.

Today, the number of working Americans has bounced back and now exceeds pre-pandemic figures, with about 160 million people employed, according to data published by CEIC. As of February 2023, Trading Economics reported 3.6% unemployment.

Average Income in the U.S.

According to the Census Bureau, the median annual household income in the United States was $67,521 in 2020. Income varies depending on education, industry, location and demographic factors. Below, we’ll look at how education affects average income in the U.S. and how average household income breaks down by race and sex.

Earnings by Education

As income disparity rises in the United States, education has emerged as a significant factor affecting earning potential and employment rates. Wages rise as worker education levels increase, and individuals with professional degrees—such as medical degrees—see the highest salaries and lowest unemployment rates.

Although the Economic Policy Institute notes that 65.1% of current laborers do not have a college degree, nearly all of the top-paying jobs require advanced education.

High-level medical occupations, which make up 19 of the country’s 20 highest-paid jobs, demand advanced degrees. However, the one non-medical profession on the list—airline pilots, copilots and flight engineers—stands out. Most pilots hold only a bachelor’s, making this position one of few high-paying jobs that doesn’t require a medical degree.

Earnings by Race and Sex

Historically, systemic racism and sexism have limited access to high-paying jobs for women and people of color.

• The Census Bureau reports that among full-time, year-round workers, the median income for men in the United States was $61,417 in 2020, while women earned a median of $50,982.
• White, non-Hispanic households bring in a median annual income of about $75,000, much higher than the median for Black or Hispanic households. However, Asian households earn the most, with a median household income of almost $95,000.

Highest-Paying Occupations

If you’re looking for jobs that make a lot of money, consider starting your search in the medical field. Out of the 20 highest-paying occupations according to the BLS, all but one are in the healthcare industry.

How to Obtain a High-Earning Job

All of the professions profiled below require state licensure and offer median annual salaries of $208,000 or more.

Ophthalmologists, Except Pediatric

Ophthalmologists need a bachelor’s degree followed by four years in medical school and four to five years of specialized training. These doctors treat eye diseases and vision problems, perform eye surgery, and conduct research. The BLS projects a 6% job growth for ophthalmologists between 2021 and 2031.

Physicians, All Other

Physicians can pursue many specializations, including internal medicine, emergency medicine and cardiology. These professionals must earn a bachelor’s, attend medical school and complete three to nine years of internship and residency. The BLS projects a slower-than-average 1% job growth for these physicians from 2021 to 2031.

Radiologists

Radiologists use medical imaging to diagnose and treat injuries and illnesses. These doctors need at least 13 years of training, including medical school and four years of residency. Many radiologists also complete a one- to two-year specialized training fellowship. For radiologists, the BLS projects a 4% job growth from 2021 to 2031.

Psychiatrists

These medical doctors focus on mental, emotional and behavioral health. After attending medical school, psychiatrists complete a four-year residency. Some pursue further training in subspecialties like forensic psychiatry or adolescent psychiatry, and most pursue board certification. The BLS projects faster-than-average job growth of 9% for these professionals.

Physicians, Pathologists

These doctors study body fluids and tissue specimens to provide diagnostic and forensic information. Pathologists must complete a three-year residency after medical school and can seek board certification through the American Board of Pathology. The BLS projects a 4% job growth for pathologists from 2021 to 2031.

Sources:

• United States Census Bureau
• Bureau of Labor Statistics
• CEIC Data
• Trading Economics
• Pew Research Center
• Economic Policy Institute
• American Academy of Ophthalmology
• The American College of Surgeons
• American College of Radiology
• American Psychiatric Association
• Johns Hopkins Medicine
• The American Board of Pathology