In this article, we will look at the 35 top paying jobs in America. We have also discussed the growth and flexibility of the labor market in the US. If you want to skip our detailed analysis, head straight to the 10 Top Paying Jobs in America.
The United States economy has been growing ahead of Europe’s with a 3.3% gain in GDP during the fourth quarter of 2023, exceeding economist predictions of 2%. This growth trajectory continued throughout the year and the US kept outpacing all other advanced economies, setting a pace expected to persist into 2024. Ryan Sweet, Chief US Economist at Oxford Economics, notes that the US economy is resilient compared to its global counterparts, maintaining stable performance despite challenges elsewhere.
One key factor contributing to the US economic strength is the massive injection of funds into the economy. The $2.2 trillion stimulus package passed in March 2020, followed by subsequent measures, provided crucial support to individuals, businesses, and the economy as a whole. This unprecedented fiscal response has buoyed consumer spending, which constitutes 70% of economic activity, and sustained the economy amid high inflation.
Additionally, the US benefits from a flexible labor market and a focus on productivity. With unemployment rates consistently below 4% since February 2022, and real wages rising, disposable income remains strong. Flexibility in labor laws allowed companies to adapt quickly during the pandemic, investing in new technologies and maintaining productivity.
Moreover, the US has been able to replenish its labor market through immigration, countering slowing population growth. These factors have contributed to the resilience of the US economy amidst global challenges. However, despite the resilience of the US economy and its strong growth trajectory, 2024 has seen a wave of layoffs in certain sectors.
Paramount Group Inc (NASDAQ:PARA) is initiating layoffs affecting approximately 800 employees, constituting around 3% of its workforce. CEO Bob Bakish confirmed in a memo that affected workers, primarily based in the United States, would receive notifications. These layoffs are also impacting some international offices and aim to streamline operations between challenges posed by the evolving media industry dominated by streaming platforms and recent industry strikes. Bakish emphasized the decision’s necessity for cost-cutting and future growth, reassuring remaining staff of the company’s strategic vision.
Paramount Group, Inc (NASDAQ:PARA)’s decision comes as no surprise as more than 34,000 employees have been laid off across 141 tech companies globally this year alone. Paramount Group, Inc (NASDAQ:PARA) is trying to prioritizes iconic franchises like ‘Top Gun’ and ‘Mission Impossible’ while reducing focus on local and international original content. The announcement follows reports of potential acquisition interest in Paramount Group, Inc (NASDAQ:PARA)’s parent company, National Amusements. As the industry adapts to digital disruption and economic uncertainties, Paramount Group, Inc (NASDAQ:PARA)’s restructuring reflects efforts to maintain competitiveness and capitalize on evolving consumer preferences.
Moreover, following a disappointing fourth-quarter earnings report, United Parcel Service, Inc (NYSE:UPS) announced plans to lay off 12,000 employees, aiming to save approximately $1 billion. CEO Carol Tomé described 2023 as challenging due to revenue, volume, and operating profit declines. The company’s decision is also influenced by the need for employees to return to the office full-time in 2024. Shares plummeted almost 8% to $146.72, marking the lowest opening price since November. Tome attributed United Parcel Service, Inc (NYSE:UPS)’s struggles to broader economic conditions, labor negotiations, and the costs of a new Teamsters contract. The report indicated a 7.8% decline in fourth-quarter revenue compared to the previous year.
As United Parcel Service, Inc (NYSE:UPS) anticipates revenue projections for 2024 between $92 billion and $94.5 billion, analysts’ expectations of $95.5 billion raise uncertainties about the company’s future performance. The decision to reduce the workforce confirms that the company is trying to streamline operations and mitigate financial challenges between the changing market conditions.
A surgeon conducting a minimally invasive surgical procedure with MRI guidance.
Our Methodology
We found the 35 highest-paying jobs in America after researching the highest-paying professions in the US, from Indeed and Bureau of Labor Statitics. Then we listed the frequently highest-paying jobs in the ascending order based on their average salaries. The average salary data was sourced from salary database.
By the way, Insider Monkey is an investing website that uses a consensus approach to identify the best stock picks of more than 900 hedge funds investing in US stocks. The website tracks the movement of corporate insiders and hedge funds. Our top 10 consensus stock picks of hedge funds outperformed the S&P 500 stock index by more than 140 percentage points over the last 10 years (see the details here). So, if you are looking for the best stock picks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
Here is a list of the top paying jobs in America:
35. Fire Chief
Average Salary: $108,123
Fire Chiefs are compensated well for their crucial role in overseeing emergency services and protecting lives and property. Despite appearing routine, the weight of ensuring public safety justifies their salaries. Advancing from an entry-level firefighter to a fire chief demands years of experience and obtaining various certifications along the career path.
34. Distribution Manager
Average Salary: $108,910
Distribution managers in the United States are integral to the smooth functioning of supply chain operations. According to data from Indeed.com, 38% of these managers possess a bachelor’s degree, while 37% have attained only a high school diploma or GED. The median salary for distribution managers fluctuates depending on factors such as experience and industry, spanning from $70,000 to upwards of $100,000 per year. It is one of the highest paying jobs without a degree.
33. Robotics Engineer
National Average Salary: $109,953
Robotics engineers create algorithms, integrate sensors, and design mechanical components. In the US, they’re hired by companies like Boston Dynamics and Tesla, leading innovation in robotics and automation technology. Owing to the growing popularity of automation and robotics in the US, it is one of the top 10 careers in America.
32. Data Scientist
Average Salary: $115,240
In 2024, the future of businesses will hinge on real-time data, driving AI-powered generative experiences. Data infrastructure must cater to both transactional and real-time analytics. A paradigm shift from model-centric to data-centric AI is imminent in the field of data science.
Owing to growing popularity and importance of data driven decision making, data scientist is one of the highest paying jobs in the world.
It is also worth highlighting that tech is one of the highest paying industries in the US.
31. Actuary
Average Salary: $127,580
Actuaries, with a 2022 median salary of $113,990 annually, typically hold bachelor’s degrees. They require long-term on-the-job training, with no prior work experience necessary. With 30,000 jobs in 2022 and a projected 23% growth rate from 2022 to 2032—much faster than average—there’s an estimated employment increase of 7,000 positions within that decade. Actuaries play a critical role in assessing risk and formulating strategies for insurance companies, financial institutions, and other businesses.
30. Full Stack Developer
Average Salary: $128,350
The versatility of full-stack developers streamlines projects and reduces costs for businesses which makes them invaluable for companies. Full-stack developers are thus highly paid as they have expertise in both front-end and back-end software development. It is one of the jobs that pay over $100K without a degree.
29. Air Traffic Controllers
Average Salary: $130,840
Air traffic controllers’ salaries are often higher than average salaries, which can lead to misconceptions of it being one of the most overpaid jobs in the world. Moreover, technological developments have automated some aspects of their work and potentially reduced their roles’ perceived value. According to BLS, the average salary of an air traffic controller in the US is $130,840. It is also one of the high paying trade and vocational jobs in 2023.
28. Senior Real Estate Manager
Average Salary: $140,477
Senior Real Estate Managers oversee property portfolios, negotiating leases, managing budgets, and ensuring compliance with regulations. They strategize to optimize property performance, analyze market trends, and develop investment strategies. They also supervise property staff, handle tenant relations, and coordinate maintenance and renovations to enhance property value and tenant satisfaction.
27. Quantitative Analyst
Average Salary: $153,539
A quantitative analyst applies mathematical and statistical methods to financial data to develop models and strategies for trading, risk management, and investment decision-making. It is one of the highest paying jobs in a non medical field.
26. Machine Learning Engineer
Average Salary: $161,382
Machine learning demand increased in 2023, with US job postings expected to rise by 40% by 2027. With an average annual salary of $161,382, machine learning engineers enjoy lucrative salaries and benefits.
25. Lawyer
Average Salary: $163,770
A legal career in the US offers opportunities for societal impact and personal growth. States like Colorado, North Carolina, and Georgia need lawyers and are also one of the highest paying states for the profession. Top 1% lawyers earn over $500K annually in the US. It is also one of the top paying jobs in America per month.
24. Enterprise Architecture Manager
Average Salary: $168,762
An Enterprise Architecture Manager oversees the design and implementation of an organization’s technology infrastructure to ensure alignment with business objectives. They lead teams in developing architectural standards, policies, and strategies, ensuring interoperability, scalability, and security of IT systems while driving innovation and cost-effectiveness.
23. Dentist
Average Salary: $172,290
In 2022, the United States had a total of 202,536 actively practicing dentists, resulting in a ratio of 60.77 dentists per 100,000 people in the population. This ratio is considered relatively low, highlighting a dire need for an additional 11,909 dental practitioners to alleviate the shortage of dentists in the US.
22. Computer and Information Systems Managers
Average Salary: $173,670
In 2022, there were 557,400 positions for the role, and the job outlook from 2022 to 2032 indicates a 15% growth rate with an estimated employment change of 86,000 during this period.
21. Pediatrician, General
Average Salary: $203,240
Pediatricians, General, are most numerous in New York, with 4,940 positions and an average annual salary of $191,970. Following closely is California, with 3,130 jobs and an average annual wage of $217,480. However, Alaska takes the lead in terms of highest average annual wage for pediatricians, offering $257,230.
20. Nurse Anesthetists
Average Salary: $205,770
Michigan is the state with the highest employment levels for Nurse Anesthetists with 3,590 positions and an annual mean wage of $199,690. California is the highest paying state for nurse anesthetists with an annual mean wage of $246,510.
19. Orthodontist
Average Salary: $216,320
According to projections from the Bureau of Labor Statistics, employment opportunities for orthodontists are expected to grow by 4.5% between 2022 and 2032, leading to around 300 additional positions in the field. It is one of the Best Jobs That Can Make You a Millionaire Before Retirement.
18. Airline Pilots, Copilots, and Flight Engineers
Average Salary: $225,740
In 2022, airline and commercial pilots had a median salary of $148,900. There were 142,600 jobs in 2022, and the profession is expected to grow 4% from 2022 to 2032, with an employment change of 5,600. It was also one of the top paying jobs in America in 2023.
To read more about airline pilots and their salaries, see highest paying countries for pilots.
17. Gastroenterologist
Average Salary: $228,619
Gastroenterologists specialize in diagnosing and treating disorders of the digestive system, such as the esophagus, stomach, small intestine, colon, liver, pancreas, and gallbladder.
16. Family Medicine, Physician
Average Salary: $235,930
Family medicine in the United States is a primary care specialty that provides comprehensive healthcare for individuals and families of all ages, addressing a wide range of diseases and conditions. Family physicians, also known as family doctors, must hold either an M.D. or D.O. degree and undergo a three or four-year family medicine residency. Certification by the American Board of Family Medicine or the American Osteopathic Board of Family Physicians is typically required.
15. Chief Executive
Average Salary: $246,440
Chief executives primarily concentrate on managerial and supervisory responsibilities, guiding the company’s trajectory rather than engaging in daily operational tasks. This role is renowned for its high earning potential with comparatively lesser hands-on work. An exemplar of a chief executive is Jeff Bezos, the founder of Amazon.com Inc (NASDAQ:AMZN), explaining why it ranks among the top five careers for millionaires.
It is also one of the top 10 powerful jobs in the world.
14. Psychiatrists
Average Salary: $247,350
As of May 2022, Psychiatrists in the United States were most commonly employed in Offices of Physicians (8,770), General Medical and Surgical Hospitals (4,550), and Outpatient Care Centers (3,280). The respective mean annual wages for these sectors were $273,440, $207,600, and $276,570.
13. Physician
Average Salary: $247,360
Johns Hopkins Medicine and Massachusetts General Hospital, affiliated with Harvard Medical School, are two of the top medical institutions offering highly competitive salaries to physicians in the United States. It is one of the jobs in the US with the highest salaries.
12. Pathologists
Average Salary: $252,850
Rhode Island boasts the highest density of Physicians and Pathologists, with a location quotient of 4.87. Minnesota leads as the highest-paying state for pathologists, offering an annual mean wage of $355,570. Arizona, Missouri, Indiana, and Arkansas also present competitive mean wages in this specialized medical field.
11. Neurologists
Average Salary: $255,110
In May 2022, the US had around 11,340 employed neurologists, earning an average annual wage of $255,510. Offices of physicians hosted the most neurologists (7,760) with a mean annual wage of $258,100.
Click here to see the 10 Top Paying Jobs in America.
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Disclosure: None. 35 Top Paying Jobs in America is originally published on Insider Monkey.
