20 Best Paying occupations in U.S.

20 Highest paying Occupations in U.S. based on Median Pay 2017

As per a 2018 report by Bureau of Labor Statistics, the following were the 20 best paid occupations in US based on their median wages for 2017.

Job Outlook:

Top seven among these best paid occupations were related to  healthcare including Anesthesiologists,  Surgeons, Orthodontists, Oral & Maxillofacial Surgeons , Psychiatrists, Obstetricians & Gynecologists and Physicians & Surgeons (all others). As per the Bureau of Labor Statistics,  the median pay for these occupations was $208,000 per annum or $100 per hour in 2017. The demand for these services will grow due to increased demand for healthcare services as well as because of an ageing population. From 2016 to 2026, the overall employment for Physicians and surgeons is expected to grow 13% (higher than average). The number of Physicians and surgeons' jobs in 2016 was 713,800. Approximately 91,400 new physician and surgeon jobs are expected to be added by 2026.

The median wages for computer and  information system managers was was $139,220 per year in May 2017 or $66.93 per hour. Employment of Computer & Information system managers is expected to grow 12 percent from 2016 to 2026 (higher than average). Increasingly firms are expanding their IT infrastructure and moving towards digital firms. This has led to a growth in the number of Computer and Information System managers. Number of such jobs in 2016 was 367,600 and by 2026, as per the BLS projections, 44,200 new Computer and Information System managers jobs are expected to be added.

The median annual pay for the Chief Executives in 2017 was $182,270 whereas that of the general and operations managers was $100,410 in May 2017. The number of total such jobs (chief executives & General and operations managers) was 2,572,000 in 2016. From 2016 to 2026, it is expected that 193,100 new jobs will be added.

In May 2017, the median annual wage for airline pilots, copilots, and flight engineers was $137,330 whereas that for commercial pilots was $78,740. From 2016 to 2026, there is projected to be a growth of 4 percent in the overall employment of airline and commercial pilots. This is slower than the average. Number of such jobs in 2016 was 124,800 and by 2026 4,400 new jobs are projected to be added.

In May, 2017 the median annual wage for judges, magistrate judges, and magistrates was $133,840 whereas that for the administrative law judges, adjudicators, and hearing officers was $94,790. Number of such jobs in 2016 was 43,800. These jobs are expected to grow 5% which is the same as average. 220 such new jobs are projected to be added by 2026.

In May 2017, median annual wage for architectural and engineering managers was $137,720 or $66.21 per hour. Overall employment of architectural and engineering managers is projected to grow 6 percent from 2016 to 2026. This is nearly the same as the average for all occupations. The job outlook for architectural and engineering managers reflects the growth of the industries they are employed in.

In May 2017, the median annual wage for petroleum engineers was $132,280 or $63.60 per hour. Their overall employment is projected to grow 15 percent from 2016 to 2026.  This is much faster than the average for all occupations. Employment growth will be affected by oil prices. Higher oil prices will lead to higher capital investment by oil  and gas companies and expansion of existing operations and exploration. This will lead to addition of new jobs. The number of such jobs in 2016 was 33,700. 5,100 more jobs are projected to be added between 2016 and 2026.

Sources:-

https://www.bls.gov/ooh/highest-paying.htm

Bureau of Labor Statistics Occupational Outlook Handbook.