The jobs that pay the most require at least a four-year college degree. According to the most recent data from the Employment Policy Foundation, the nation’s 12 top-paying jobs -- and the mean annual income reported in 2003 for each -- were:
Top Paying Jobs Overall
Though many of these occupations require an advanced degree, there are jobs at every education level that pay more than other jobs for workers with similar levels of schooling. Here, courtesy of the Employment Policy Foundation, is a look at the best-paying occupations at varying education levels:
Top Paying Jobs That Do Not Require a High School Degree
These jobs tend to require substantial on-the-job training and work experience rather than formal education and schooling:
Top Paying Jobs for High School Graduates
These occupations emphasize work experience and on-the-job training rather than formal education:
Top Paying Jobs for a Two-Year College Degree
The following jobs tend to be technical in nature, emphasizing skills developed on the job as well as job-specific training and certifications:
"A look at expected earnings over a lifetime shows the economic benefit of higher education attainment," says Tony Carnevale, who chaired President Clinton’s National Commission for Employment Policy and authored several books, including "America and the New Economy: How New Competitive Standards are Radically Changing American Workplaces."
A person with a doctoral or professional degree, for example, is expected to earn about $3 million over the course of his or her working life while a person without a high school diploma is expected to earn less than $1 million. "Despite an increasing supply of well-educated workers, the college wage premium has nearly doubled since 1980, largely because of the added value of a college education in the new knowledge economy," adds Carnevale.
The Employment Policy Forum concurs, but stresses that these numbers are only averages. Individual earnings depend on many factors inducing geographic location, employer size (average hourly earnings ranged from $15.06 in organizations employing between 1 and 99 workers to $24.09 in those with 2,500 workers or more), industry (workers in goods-producing industries earned $18.46 an hour vs. those in service-producing industries who earned $16.44 an hour) and the worker’s skills and characteristics.
By Kate Lorenz, the article's Writer and advice editor for CareerBuilder.com. She researches and writes about job search strategy, career management, hiring trends and workplace issues. Other writers contributed to this article.
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