It turns out that the highest-paying jobs vary by location. Are you in the best city for your profession?
A new study from All Star Home found the most lucrative occupations and industries among top earners in 50 different cities across the country, using data from the Bureau of Labor Statistics American Community Survey. The study focused on the percentage of people in each occupation or industry to determine the actual most common occupations of high earners.
But how do you define “top earners”? For the study, All Star Home focused on individuals making $150k or more a year as a baseline, “because when you look at the household income of these earners, in reality, many of them live wealthier lives than their salary shows thanks to contributions from their partners or additional assets.” Plus, $150k a year is over double the average salary. According to Forbes Advisor, the average annual salary nationwide is $59,428, and the average hourly rate is $28.34.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Highest-paying jobs and industries in the U.S.
Overall, these are the top five occupations with the highest percentage of people making $150k or more, by U.S. city.
- Lawyers and judges: 19.3%; Washington, DC
- Managers: 16.8%; Arlington, VA
- Chief executives: 12.8%; Miami, FL
- Physicians: 12.6%; Little Rock, AR
- Software developers: 9.1%; Seattle, WA
And these are the top five industries with the highest percentage of people making $150k or more.
- Computer systems design: 22.93%
- Legal services: 20.25%
- Financial investing: 13.78%
- Management, scientific and technical consulting: 12.73%
- Colleges, universities and professional schools: 6.31%
The most common high-paying occupations also vary in popularity depending on which region you live in.
- Most common high-paying occupations in the Northwest: Physicians
- Most common high-paying occupations in the South: Physicians
- Most common high-paying occupations in the Southwest: Managers
- Most common high-paying occupations in the Midwest: Lawyers and judges
- Most common high-paying occupations in the West: Managers
You can view a city-by-city breakdown by viewing the study here.
Related Content
