Ever wondered what industries and related jobs are most in demand and pay the most in 2024?
A new study released by researchers at QR Code Generator revealed some interesting findings about the best-paying and, simultaneously, most in-demand industries across the U.S. workplace. The analysis extracted the most up-to-date data from the U.S Bureau of Labor Statistics, and ranked industries by calculating the average hourly and annual wages, according to the number of workers within each industry.
The top three industries in the list all pay more than $100,000, with the fourth barely creeping up into the $100,000 mark. Of course, it's essential to bear in mind with this list that the average salaries represented below are taken from the jobs collectively for each industry, therefore there may be some roles which you may find pay significantly more or less than the average.
Highest-Paying In-Demand Job Sectors Of 2024
Perhaps you might already be aware that tech, finance, and healthcare, are highly compensated industries, even at the entry-level. But some of the industries that made it to ranking in the top 10 of might just surprise you.
1. Legal
The legal industry encompasses professionals such as lawyers, attorneys, magistrates and judges, paralegals, legal secretaries, supporting court staff, and regulatory and compliance professionals. It can be an exciting and highly-compensated industry to work in, but it can be equally draining and demanding, so you must weigh up your options carefully and decide which role is right for you and your wellbeing, if at all.
As may be expected, "lawyers have the highest paid job in the legal sector with an average hourly pay of $84.84 and a yearly average pay of $176,470," the research said. The job demand for lawyers is faster than average, experiencing a surge of 8%, according to the BLS.
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Average industry pay: $133,820
2. Computer And Mathematical
Computer and mathematical occupations involve cybersecurity analysts, software developers and engineers, quality assurance testers, actuaries, data scientists, and other related roles.
Collectively, this industry is being skyrocketed into high demand, thanks to AI, with roles such as information security analyst surging by as much as 32% in job growth (bear in mind that the average for regular job growth rates is 3%), and other roles such as software developers and quality assurance analysts are expected to climb by 25% in demand.
However, if you're looking for the highest paying role for this industry across the board, you would do well to look no further (for now) than computer and information research scientists, who have the highest wage with an hourly income of $75.56 and an annual average income of $157,160.
Of course, as AI develops, this might be expected to change, as some AI and machine learning researchers have already been reported to make as much as over $1 million.
Average industry pay: $113,140
3. Healthcare Practitioners and Technical
Coming in at third in the list, the healthcare sector comprises nurses, doctors, surgeons, and an endless list of other healthcare practitioners such as therapists and technicians. These positions can be very lucrative, and even if you are not a highly specialized doctor you could make up to $112,910 as a registered nurse (RN) according to Salary.com.
Average industry pay: $102,060
4. Architecture and Engineering
If you have a combination of highly creative and technical skills, with an eye for detail, then a career within architecture or engineering might be suitable for you.
Engineering, in itself, is a vast field, that comprises many different specialisms including aerospace, civil, mechanical, bioengineering, computer hardware, and industrial engineering. You will need to consider getting a specialized degree within an institute of technology, as these provide tailored, highly specialized, and more diverse array of options for you to choose from.
Average industry pay: $99,090
The other industries that comprised the remainder of the top 10 high-paying industries list include (with average industry pay):
- Business and financial operations—$90,580
- Life, physical, and social sciences—$87,870
- Arts, design, entertainment, sports and media—$75,520
- Education and libraries—$66,400
- Construction and Extraction —$61,500
- Community and Social Service—$58,980
Commenting on the report findings, Marc Porcar, QR Code Generator CEO, said:
“There are so many different work sectors you can explore to determine the right occupation for you. Each sector requires a different kind of education to thrive within your occupation."
Speaking of the skills required to be successful in the highest paying jobs, Porcar stated that higher paid industries such as the legal sector, require more than technical skills and knowledge. To succeed, you need soft skills such as compassion, comprehension, fair judgment, and patience.
He also provides some helpful suggestions as to where to find the highest-paying jobs for each industry in the United States, suggesting "lawyers could earn a lot more based in big cities such as New York, where, due to its large population, residents will always need some form of legal support."
“For sectors with lower incomes like food preparation and serving," Porcar continued, "you are more likely to make a decent income when based amongst tourist areas, where there is a constant demand for American cuisine. Attributes needed to work in the hospitality industry include perseverance, dedication, great communication and ability to multitask amongst others."
Overall, it's essential to view the big picture when searching for your next job. It's not sufficient to consider the highest salaries alone, although they do have their place. According to Porcar, it would be wise to think about whether or not you have the soft skills and temperament it takes to be truly successful in the role, and you should also consider what are the prime locations for your chosen career.
