Jobs are everything to the economy and the ultimate demand for real estate. Not all jobs are equal, however. Variables include required skill sets, educations, compensation and even where they are located. Once again I invoke the invoke the TINSTAANREM axiom — There Is No Such Thing As A National Real Estate Market. Nor is there such a thing as a typical job.
Glassdoor is an online jobs listing site with salary reports, company and interview reviews. The site has millions of open positions and works to the benefit of both job seekers, firms that are hiring and as a compensation tool for those already employed. Glassdoor compiled a list of the top-25 paying job titles in the U.S. Their methodology was based on the following:
- To be included on the list, each job title had to have a minimum 100 salary reports shared by U.S. based employees from February 1, 2016 through January 31, 2017
- To obtain a consistent median salary for each job title, Glassdoor used their proprietary statistical algorithm to estimate annual median base pay, controlling for factors such as seniority and location
- The number of job openings per job title is the number of active job listings on Glassdoor as of January 31, 2017
- This study includes consideration of job title normalization, grouping similar job titles
- No C-Suite level jobs were included in the study
So what were the top-paying jobs under these requirements and metrics?
One-half of the top-10 involve the medical field. As Baby Boomers age demand no doubt will grow even greater.
All of these top-paying jobs require an investment in education—some even advanced degrees. Many require some level of the STEM education: Science, Technology, Engineering and Math. Those without the base education requirements will not be able to participate in these top-paying jobs. Hence the courses a person takes in high school can have life-long ramifications.
These salaries are merely the estimated median base salary. By definition one-half of all people make less than the median and one-half make more.
One of the professors (I worked with at the Real Estate Center at Texas A&M University) son obtained a degree in mechanical engineering. Several years later he obtained a law degree and is now a patent attorney. I would imagine the combination of those two degrees makes him a unique more valuable patent attorney.
To examine the entire list of the 25 highest-paying jobs in America, which also includes cities with the most openings for each of the job titles, click https://www.glassdoor.com/List/Highest-Paying-Jobs-LST_KQ0,19.htm
Many people make a greater salary than these job titles without advanced degrees. But if a younger person asked today which route they should go to make the most, these are a good start and a comparison benchmark for alternative careers.