Follow The Money: What Cities Have The Best Paying Jobs In The U.S.?
Whether you’re actively looking for a boost in your paycheck or simply wondering whether your occupation might be more valued elsewhere, it’s not outlandish to consider moving to a new city for better opportunities.
In addition to higher pay, job seekers are increasingly on the hunt for flexible or hybrid work options and a greater sense of work-life balance.
One aspect to consider is what type of industry you currently work in, or plan to transfer into.
According to the U.S. Bureau of Labor Statistics, the highest paying jobs in the country are in the medical field (including anesthesiologists, nurse practitioners, orthodontists and psychiatrists), or are involved in some sort of field related to engineering (including flight engineers and computer systems managers).
In addition to being concentrated in certain fields, high-paying jobs are also geographically concentrated. Six-figure salaries are most common in coastal states including California, Massachusetts, Maryland and New York, where the population tends to have greater educational attainment; cost of living is higher and high-paying industries like tech, business, law, and health and life sciences are more prevalent.
Salaries rising
But even many parts of the country where these jobs are less common are seeing growth. Six-figure jobs more than tripled in Hawaii from 2015 to 2020, and ten other states—mostly in the Mountain West and upper Midwest—had a growth rate for six-figure jobs of more than 100% over the same span.
Jobs in New York State offer some of the highest-paying salaries in the country. BLS data indicates that New York professionals in marketing, business, and finance earn an average of over $100,000 per year.
What’s always the case however is that many of the highest-paying cities are also the most expensive cities to live in. According to Payscale, the cost of living in New York City is 129% higher than the national average.
Everything costs more, from healthcare to a loaf of bread. And housing expenses are a whopping 369% higher than average. But as the financial capital of the US, the city is a global hub for dozens of Fortune 500 companies, including Pfizer, Verizon, and Goldman Sachs.
High-paying roles
Take a look on The Hill Jobs Board at companies like Hudson River Trading which is currently looking for a Director of International Tax to join its growing tax team. The successful hire will have an Advanced degree (MS or LLM) in Taxation, plus a minimum of 10 years’ of relevant tax experience.
Expect a salary range of $200,000 to $300,000. A sign-on and discretionary performance bonus may be provided as part of the total compensation package, in addition to company-paid medical and/or other benefits.
As the nation’s capital, Washington, DC, has a bit of everything when it comes to job opportunities. As you might expect, DC is the top city for government-related work, and the city has a high concentration of political scientists and economists, according to BLS data.
But DC is also a hub for education, healthcare, finance, and scientific research. In addition to several major universities, multiple Fortune 500 companies have their corporate headquarters in DC, including Fannie Mae, Carlyle Group, Danaher, and FTI Consulting.
If politics is your bag, it’s worth investigating opportunities at Issue One who have an open position for a Director of Election Protection. The DEP will manage the National Council of Election Integrity (NCEI); spearhead IO’s cutting edge Faces of Democracy campaign of election officials and poll workers, and drive the program’s strategic planning, policy development and grassroots mobilization.
To apply, you’ll need five-plus years’ of relevant experience including experience leading in a large-scale campaign. Note that the salary range for this role is $110,000 to $130,000.
Denver is the most populous city in the mountain states. It has a very diverse economy, featuring major industries including aerospace, bioscience, and advanced manufacturing.
Lockheed Martin, HealthONE Corporation, Ball Corporation, and United Airlines are large Denver-area employers, and the city also has an up-and-coming start-up scene.
Denver’s average salary of $64,880 is the ninth highest in the nation, and its cost of living is only the 19th highest, making it easy to see why so many people choose to live and work in the Mile High City.
If a work-life balance investment in your community appeals, check out companies such as ICF which is looking to hire a Senior Wildlife Biologist to support a wide range of projects through its Environment & Planning Division.
The ideal candidate will have an MS degree in environmental science, environmental planning, biology, ecology, or related field, plus experience working with private, public sector clients, and regulatory and resource agencies. The salary range on offer is $77,890 to $132,413, and it’s worth noting this position is based remotely in the Mountain West region.
Take the plunge
Before taking the plunge, make sure your chosen city matches your specific industry’s job opportunities. A thriving job market tailored to your skills is key to securing financial success in a new city.
But also bear in mind that prosperity shouldn’t come at the cost of your personal life. Weigh the pros and cons of a city’s growth potential against the work-life balance it offers. All in all, finding that sweet spot between financial growth and quality of life is crucial for long-term success and happiness.
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