Your peak earning years may be closer than you think. According to compensation research firm PayScale, full-time workers with Bachelor's degrees tend to make the most money in their 40s and 50s. Show
PayScale also found that when you earn the most during your career depends on your gender: Pay growth for college-educated women essentially stops around age 40. For college-educated men, wages continue to grow for another decade and peak in their early 50s. Male college graduates earn more from the get-go: They bring home a median salary of $50,700 at age 22, while their female counterparts earn $39,500 per year, for a difference of $11,200. From ages 22 to 33, women's pay actually grows slightly faster than men's. However, a shift occurs at age 34, when women's earning growth starts to slow and men's remains steady. By age 41, college-educated women see their salaries peak at about $61,000. Meanwhile, men continue seeing increases up until age 53, at which point they're earning about $95,000. "The smallest gap in raw wages occurs at age 25 (with the typical working man earning $10,600 than the typical working woman), and is largest at age 54 (when the typical man earns $32,800 more than the typical woman)," Payscale reports. PayScale's chart maps out the percent growth in pay by gender from age 22 to 67. Blue represents pay growth for men and orange represents pay growth for women. The data "only represents wages for those who remain in the workforce," PayScale notes. "The fall in wages for both genders over the age of 60 is likely due to people dropping out of the workforce due to retirement." Here's the full break down of the median pay by age and gender for full-time workers with a Bachelor's degree. PayScale surveyed 972,788 U.S. workers between July 2015 and July 2018: Healthcare jobs topped the list of the highest-paying occupations, and the sector’s future is very bright. According to the U.S. Bureau of Labor Statistics (BLS), employment in healthcare occupations is projected to grow 16% from 2020 to 2030—adding about 2.6 million new jobs. This growth “is mainly due to an aging population, leading to greater demand for healthcare services,” according to the agency. Key Takeaways
The Methodology UsedRankings are based on salary data from the BLS. Instead of using median salaries for each occupation, which signify the annual wage of a typical employee in that role, the BLS uses mean, or average salaries in the annual report, National Occupational Employment and Wage Estimates. 1. Anesthesiologists: $331,190The BLS defines anesthesiologists as physicians who “administer anesthetics and analgesics for pain management prior to, during, or after surgery.” This highly specialized career has topped the list of highest-earning professions. Work hours for an anesthesiologist follow the schedule of the operating room, which can be long and unpredictable. That’s because anesthesiologists need to be there for both scheduled surgeries and emergency procedures, such as traumatic events and childbirth.
2. Oral and Maxillofacial Surgeons: $311,460Oral and maxillofacial surgeons treat a wide range of diseases, injuries, and defects in and around the mouth and jaw. Among the more common problems they’re likely to manage are problematic wisdom teeth, misaligned jaws, tumors, and cysts of the jaw and mouth. They may also perform dental implant surgery.
3. Obstetricians-Gynecologists: $296,210Doctors specializing in vaginal, ovarian, uterine, and cervical reproductive health and childbirth, known as obstetricians-gynecologists, or OB-GYNs, make slightly more than the annual wages listed for general surgeons. Successful OB-GYNs are good at communicating information to patients that improve their health and that of their babies. They also excel at handling high-stress situations—most notably childbirth—that can occur at odd hours of the day.
4. Surgeons: $294,520Although becoming a surgeon requires several years of specialized training, these elite physicians are rewarded with one of the highest-paying careers. Surgeons may find themselves working long, irregular hours, depending on their specialty. While those focusing on preventative and elective surgeries may have a more predictable schedule, surgeons working in fields such as trauma or neurosurgery often work extended, even overnight, shifts. Surgeons perform operations to treat broken bones and diseases, such as cancer. Surgeons help manage the patient’s care before and after surgery. Even when they’re not scheduled for work, a surgeon may need to address patient concerns over the phone, and on-call surgeons sometimes make emergency trips to a hospital.
5. Orthodontists: $267,280Orthodontists specialize in corrective measures for the teeth and are often referred out by the patients’ dentists. These doctors frequently take X-rays, apply braces, create mouth guards, and perform other procedures as needed. High-achieving orthodontists require good communication skills, as they work with patients directly, plus strong analytical and problem-solving abilities. While some work for large orthodontic offices, others own their own practice, which requires strong management skills.
6. Physicians (Other): $255,110If you take the mean salary of all physicians working in all other specialties, they would come in sixth place. This “other” grouping includes jobs as varied as allergists, cardiologists, dermatologists, oncologists (who treat cancer), gastroenterologists (digestive system specialists), and ophthalmologists (eye specialists). It also covers pathologists, who study body tissue for possible abnormalities, and radiologists, who analyze medical images and administer radiation treatment to cancer patients.
7. Psychiatrists: $249,760While all psychiatrists help treat mental health issues, it’s a field with a vast range of specialties. Some work on child and adolescent psychiatry, for example, while others specialize in forensic (legal) psychiatry, addiction psychiatry, or consultation psychiatry, which occurs in a medical setting. Others specialize in psychoanalysis, where the psychiatrist helps the patient remember and examine past events and emotions to better understand their current feelings. Psychiatrists can be found in any number of work environments: private practice, hospitals, community agencies, schools, rehabilitation programs, and even prisons.
8. Internal Medicine Physicians: $242,190Internists, who often serve as primary care doctors or hospitalists, specialize in the care of adult patients. As with other general practice physicians, internists who work in a primary care capacity see a lot of patients and need to treat a range of ailments, from asthma and diabetes to high cholesterol and hypertension. With visits often lasting 15 or 30 minutes, quick decision-making skills are a must.
9. Family Medicine Physicians: $235,930The BLS defines this category as physicians who "diagnose, treat, and provide preventive care to individuals and families across the lifespan." These medical doctors often refer patients to specialists for advanced treatments. Family medicine physicians, also known as primary care physicians, are typically where patients go for periodic exams and the treatment of common health ailments, such as sinus and respiratory infections, as well as chronic illnesses, such as diabetes, asthma, and heart disease. Some primary care doctors specifically work with adults (internists) or children (pediatricians). Those who treat patients of all ages, from childhood to advanced age, are known as family physicians. Because of their varied patient population, family practice doctors generally manage a wider range of medical conditions.
10. Chief Executives: $213,020Chief executives represent the highest-paid profession outside of the medical or dental fields. As the highest-ranking employee of a company, the CEO’s job is to make critical decisions regarding the management team, steer the organization toward new markets or product areas, and interface with the board of directors. While highly paid, many chief executives have daunting schedules. A Harvard Business Review survey found that the average CEO spends 62.5 hours per week on the job, with about half their time spent in the office and half traveling.
11. Nurse Anesthetists: $202,470Nursing tends to pay well in general compared with most other career paths, although nurse anesthetists do particularly well. Per the BLS, nurse anesthetists “administer anesthesia and provide care before, during, and after surgical, therapeutic, diagnostic, and obstetrical procedures.” While their role is similar to that of an anesthesiologist, they don’t complete the same level of training. That means becoming a nurse anesthetist takes less time and money than going to medical school and becoming a physician. Certified registered nurse anesthetists (CRNAs) may work in a broad array of different settings, including hospital surgical suites, obstetrical delivery rooms, ambulatory surgical centers, doctor’s offices, and pain management centers.
12. Pediatricians (General): $198,420Pediatricians—physicians who specifically treat children—make less than internists and general practitioners but are still among the highest-paid professionals. These general practitioners perform checkups and exams for younger patients, treat common ailments, and administer immunizations. They often refer patients to a specialist when their health issues are more complex. Pediatricians require strong critical-thinking skills, especially given the large number of patients they often serve, as well as excellent interpersonal skills and empathy.
13. Airline Pilots, Copilots, and Flight Engineers: $198,190Working in the aviation industry can mean a lot of time away from home, but it also leads to a nice paycheck in many cases. The BLS lumps airline pilots, copilots, and flight engineers into one category. The pilot, or captain, typically has the most experience operating a plane and oversees the other members of the flight crew. The copilot is the second in command during the flight and helps the captain with responsibilities in the cockpit. Flight engineers do preflight checks, monitor the plane’s cabin pressure, assess how much fuel is being burned, and perform other important duties. However, because of the increased amount of automation in new aircraft, there are fewer jobs for flight engineers than there used to be.
14. Dentists (All Other Specialties): $175,160Dentists who specialize in other practice areas also get compensated quite well. The BLS lumps these other specialists into one group. Among the practitioners included in this category are endodontists, who perform root canals and other procedures dealing with the inside of the tooth, and periodontists, who treat the gums and bones around the teeth.
15. Dentists (General): $167,160Dentists often show up in lists of the best jobs in healthcare. While the pay tends to be attractive, the combination of relatively low stress and flexible scheduling certainly adds to the appeal. In a typical week, dental practitioners might find themselves analyzing X-rays, filling cavities, extracting damaged teeth, and administering sealants. It’s a job that requires a strong grasp of best practices in the field, attention to detail, and the ability to develop a good rapport with patients.
16. Computer and Information Systems Managers: $162,930Computer and information systems (IS) managers oversee functions such as electronic data processing, information systems, systems analysis, and computer programming. They evaluate the information technology (IT) needs of a business or government body and work with technical staff to implement computer systems that meet those objectives. Successful managers need to develop sound plans that mesh with the goals of the organization, as well as the ability to motivate employees who are under their supervision. Before becoming IS managers, individuals generally have several years of experience under their belt in a related field. In general, larger organizations require more-seasoned IT managers than smaller companies or startups. According to the BLS, a chief technology officer (CTO), who supervises the entire technology function at a larger organization, will often need more than 15 years of IT experience.
17. Architectural and Engineering Managers: $158,970These managers are charged with coordinating all the technical aspects of architecture or engineering projects. That can include consulting with clients and preparing specifications for the project, analyzing the feasibility of work being proposed, and reviewing contracts and budgets. In addition to having strong administrative skills, managers in these fields need a background in architecture or engineering to understand the demands of a particular project.
18. Natural Sciences Managers: $156,110Moving up the organizational chart is the ticket to a good payday in just about any field, and the sciences are no different. Professionals who supervise chemists, physicists, biologists, and other scientists are in the top 25 of all occupations when it comes to mean pay. Natural sciences managers can have any number of titles, including health sciences manager, laboratory manager, research and development director, research manager, senior investigator, and senior scientist. What they have in common is a responsibility to coordinate activities such as testing, quality control, and production and to oversee research and development.
19. Financial Managers: $153,460The finance department plays a pivotal role, especially in medium- and large-sized organizations. Among their responsibilities are planning investment activities and assessing market trends to maximize profits while controlling risk. They also create financial reports that help the senior management team make decisions and inform shareholders. Jobs that fall within the fast-growing financial manager category include controllers, who prepare financial reports such as income statements and balance sheets; treasurers, who devise investment strategies for the organization; and risk managers, who use various measures to limit the company’s exposure to financial or currency risk.
20. Marketing Managers: $153,440Products and services don’t sell themselves. It takes talented professionals to analyze how much demand there is for a particular offering and find ways to bring it to market. These functions are crucial to a business's bottom line, so it may not be a surprise that marketing managers are among the highest-paid professions in the U.S. To flourish, marketing managers have to demonstrate a blend of creativity and business acumen. Day-to-day activities include everything from acquiring market research to planning promotional activities to developing websites and social media campaigns.
21. Physicist: $151,580Physicists can often be the most important person on a project as they conduct research into physical phenomena, develop theories on the basis of observation and experiments, and devise methods to apply physical laws and theories. In short, they make sure things both work and work well. While many work in an office environment, it isn't always desk work. Physicists can find themselves jockeying between paperwork and working in research labs.
22. Judges: $148,030Judges don't only swing the gavel. They preside over hearings, determine the relevance of information presented, apply laws and precedents to seek judgments, and write opinions on their decisions regarding cases and disputes. Judges are also required to guide a jury when a jury is selected to decide the case. When there is no jury, the judge makes the final ruling. They ensure that hearings and trials are conducted fairly and that the legal rights of all involved parties are protected.
23. Podiatrists: $145,840Podiatrists diagnose and treat diseases and deformities of the foot, ankle, and lower leg. They provide medical and surgical care. Most podiatrists work in offices of podiatry, either on their own or with other podiatrists or health practitioners. Others work in private and public hospitals, in outpatient care centers, or for the government at a federal executive branch.
24. Petroleum Engineers: $145,720Energy sources, including fossil fuels such as oil and gas, are the lifeblood of the economy. However, extracting those important resources efficiently requires some serious know-how, and petroleum engineers play a big role. Their main goal is to develop methods to pull oil and gas from new deposits below the Earth’s surface and design new ways to extract fossil fuels from existing wells. Typically, the responsibilities of a petroleum engineer include ascertaining operational methods, performing a cost-benefit analysis for a given project, and analyzing survey or geographic data. Among the titles they may possess are completions engineers, who help devise the optimal way to finish a well; drilling engineers, who figure out how to efficiently and safely drill the well; production engineers, who evaluate oil and gas production after the well has been created; and reservoir engineers, who estimate the amount of oil and gas available in underground deposits, which are known as reservoirs.
25. Prosthodontists: $143,730Prosthodontists fix damaged teeth or missing teeth with artificial devices such as dental implants, dentures, bridges, crowns, and veneers. Physicians who thrive in this specialty have a strong inclination toward science, are able to diagnose complex dental problems, and possess the mechanical acumen to properly address ailments. Many of them work with cancer patients, making it important to understand the needs of surgical patients and treat individuals going through radiation or chemotherapy.
What Is the Highest Paying Job in the World?The highest-paying job in the world, in a traditional sense, holds the number one spot in this article: anesthesiologist. They are also the only job listed above $300,000 a year. The list, however, does not take into account mega-CEOs like Warren Buffett and Jeff Bezos, who make considerably more than that. Who Gets the Highest Salary in the World?CEOs of massive companies always top the list. In 2020, that was Tim Cook, Apple CEO, who cashed in some stock options and took home an enormous $265 million. That's slightly over $1 million for each working day. Tim Cook took home almost $100 million in 2021. How Can I Get a High-paying Job?Most high-paying jobs require advanced degrees such as a Ph.D. or medical degree. Although some of the jobs on this list require only an undergrad, the reality is that it's increasingly more difficult to land a coveted position when you are competing against someone with secondary degrees. The Bottom LineWhen it comes to high-paying jobs, it’s hard to beat a career in healthcare. Specialists tend to earn the largest paychecks, but general practitioners and even nonphysician roles, such as nurse anesthetists, certainly bring in attractive salaries. If the medical field isn’t for you, then careers such as engineering and management can also lead to lucrative jobs. Which of the following describes the individual who would be likely to have the highest earning potential quizlet?Of the following individuals, which one would be likely to have the highest earning potential? A college graduate who obtained a master's and a doctoral degree. Which of the following describes a global trend in marriage? Individuals are marrying later in life or not at all.
Which of the following is the leading cause of death for individuals during early adulthood quizlet?The leading cause of death during early adulthood is cancer.
Which of the following is the leading cause of death for individuals during early adulthood?The leading causes of death for both age groups 15-24 and 25-34 in the U.S. are unintentional injury, suicide, and homicide. Cancer and heart disease follows as the fourth and fifth top causes of death among young adults (Centers for Disease Control and Prevention, 2019).
What is the most common female factor in infertility cases quizlet?PCOS is the #1 cause of ovulation associated infertility in women.
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