Some Americans make far more than the $54,132 average yearly wage.
The top 25 occupations all made an average of six figures a year, or over $120,000, and many of the highest-paying employment opportunities are in the healthcare industry.
According to information from the Bureau of Labor Statistics that was collated by U.S. News, anesthesiologists, orthodontists, and doctors are among the best-paid professionals in the U.S. and all earn a median salary of over $208,000.
The Covid-19 pandemic has exacerbated levels of burnout and attrition, which have led to a staffing deficit that affects the whole healthcare sector.
Employers in the private health sector have raised compensation to retain current employees and draw in new ones as a result of higher-than-normal turnover.
14 out of the top 25 positions require a doctoral degree or are in the medical industry, accounting for more than half of all positions.
Jobs in IT, sales and marketing, and business are among other well-paying professions that often only call for a four-year degree.
The ten highest-paying positions for this year are listed below, according to U.S. News & World Report.
1. Anesthesiologists
The median annual pay is $208,000+.
Sector: Healthcare
Education required: Doctorate
2. Oral and Maxillofacial Surgeons
The median annual pay is $208,000+.
Sector: Healthcare
Education required: Doctorate
3. Obstetricians and Gynecologists
The median yearly wage is $208,000+.
Sector: Healthcare
Education required: Doctorate
4. Surgeons
The median yearly wage is $208,000+.
Sector: Healthcare
Education required: Doctorate
5. Orthodontists
The median yearly wage is $208,000+.
Sector: Healthcare
Education required: Doctorate
6. Physicians
The median yearly wage is $208,000+.
Sector: Healthcare
Education required: Doctorate
7. Psychiatrists
The median yearly wage is $208,000+.
Sector: Healthcare
Education required: Doctorate
8. Nurse Anesthetists
The median annual pay is $195,610.
Sector: Healthcare
Education required: Master’s degree (transitioning to Doctorate)
For admittance into nurse anesthesia practice, all U.S. nurse anesthesia programs must confer a doctoral degree as of January 1, 2025, according to the Council on Accreditation of Nurse Anesthesia Educational Programs.
9. Pediatricians
The median annual pay is $170,480.
Sector: Healthcare
Education required: Doctorate
10. Airline Pilots, Copilots, and Flight Engineers
The median annual pay is $134,630.
Sector: Transportation / Aviation
Education required: Bachelor’s degree and flight training
Long hours, difficult working conditions, and delivering necessary services are some of the causes that continue to drive wages higher in the healthcare industry.
While specialists often earn the highest salary, general practitioners and even non-physician positions, such as nurse anesthetists, also earn competitive income.
According to a September 2022 Aon analysis, which gathered information from more than 2.6 million health system employees across the U.S., employers in the healthcare industry placed “competitive benefits to attract and retain people” as their top priority, with “burnout” coming in at a close second.
The U.S. Bureau of Labor Statistics estimates that over the next 10 years, the health care industry will add two million new employment opportunities, the most of any industry.
Janica Ingram, careers editor at U.S. News, tells CNBC Make It, “We’re still seeing the affects of the ongoing Covid-19 pandemic, baby boomers are aging, so we have a larger aging population, and preventative care is becoming more and more crucial.”
“Healthcare will remain a solid business with a large number of in-demand jobs for a very long time.”
If the medical area is not for you, Ingram continues, other fields like engineering and management can also result in profitable employment.
More employees should anticipate receiving significant pay increases this year across the board: According to data from The Conference Board, businesses plan to spend 4.3% of their total payroll on raises in 2023, which is the largest percentage since 2001.