Job search portal CareerCast.com looked at annual median income statistics from the US Bureau of Labor and compiled the ten highest-paying jobs in 2017. Surgeon at $409,665 annual median income is the highest-paying job in 2017. Orthodontist and psychiatrist took numbers two and three, at $208,000 and $194,740 annual median income respectively. Pharmacist at $122,230 annual median incomes finished up the list at number 10. You can see the full list, commentary, and projected growth numbers on CareerCast.com.
Looking at the list, I saw four encouraging takeaways for every career interest:
Industry choice matters…
Seven of the top ten highest paying jobs are in healthcare. In addition to the ones named above, general practice physician, dentist and podiatrist also made the top ten list. Don’t get discouraged about what this implies if you’re not in healthcare (or in one of these jobs in particular). Instead, I would focus on the idea that industry choice matters, that certain industries have a track record of paying more, and therefore, if income is one of your key criteria in choosing a career, then pay attention to your industry. By choosing the right area, you increase your chances at a bigger paycheck.
…but a variety of industries still offer high pay
However, industry is only one determinant. Number five on the list at $181, 210 annual median income, is the job of senior corporate executive, which could be any industry. Remember, some industries pay more than others, but if you can advance to a high enough level in almost all industries, you still have opportunity to make good money. Six-figure salaries exist even in non-profit careers – this Chronicle of Philanthropy article shows a top development executive crossing the million-dollar mark and that was in 2014!
Advanced education and specialized learning can pay off
You have choices – what industry, how far you advance – and this includes how much schooling you invest in for yourself. The dominance of healthcare jobs in the top-paying ranks supports the notion that advanced education and specialized learning can pay off. This doesn’t mean necessarily that you should go to graduate school (consider these 10 questions before deciding). However, whether or not you go, what you study, and how much you invest are all within your control, so if you feel your income could use a boost, look into whether additional schooling might help your situation. Just remember that number nine on the list, air traffic controller at $122,410 annual median income, requires aviation experience -- a bachelor’s degree is optional.
Income is only one way to make money
The CareerCast.com list highlights top-paying jobs, but a job is only one way to make money. If you look at the annual Forbes ranking of billionaires, you’ll see fortunes made from entrepreneurship (again, in a variety of industries), investing and real estate. Forbes also keeps a list of highest-paid YouTube stars, so a traditional job is clearly not the only route to high pay.
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Knowing this year’s ten highest-paying jobs is useful for career research, even if you are not in any of these jobs. You gain a sense for the market (e.g., healthcare has well-paid jobs). You get ideas for what you might need to land a high income (e.g., advancing to the executive level). You see that there are both patterns you can follow (e.g., healthcare and specialists jobs are heavily represented in top pay) but also exceptions (e.g., air traffic controller is a top-paying job and doesn’t require a bachelor’s degree). You have choices in your career and how you make your money – both the job you choose and even whether you choose a job at all or become an investor or entrepreneur, like one of these 195 new entrants to the 2017 billionaires list.
