By Morgan Smith -
CNBC
Some American workers earn much more than the average annual wage of $54,132.
The 25 highest-paying occupations have average salaries in the six figures a year, each above $120,000, and many of the jobs are in health care.
Anesthesiologists, orthodontists and physicians are among the highest-paying jobs in the US, all earning a median salary of $208,000, according to data from the Bureau of Labor Statistics, compiled by US News.
Healthcare organizations are facing industry-wide staffing shortages driven by unprecedented worker burnout and burnout, exacerbated by the COVID-19 pandemic.
With higher staff turnover than usual, employers in the private healthcare sector have increased wages to retain existing workers and attract new employees.
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The highest paying jobs are in the healthcare sector and require a Ph.D.
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In all, more than half of the jobs in the top 25 (14) require a Ph.D. or are within the medical field.
Other high-paying jobs that typically require only a four-year degree include roles in information technology (IT), sales and marketing, and business.
These are the 10 highest-paying jobs of 2023, according to US News & World Report (and see the full report here).
1. Anesthesiologists
Median annual salary: $208,000
Industry: Healthcare
Education Required: Ph.D.
2. Oral and maxillofacial surgeons
Median annual salary: $208,000
Industry: Healthcare
Education Required: Ph.D.
3. OB/GYN
Median annual salary: $208,000 per year
Industry: Healthcare
Education Required: Ph.D.
4. Surgeon
Median annual salary: $208,000 per year
Industry: Healthcare
Education Required: Ph.D.
5. Orthodontist
Median annual salary: $208,000 per year
Industry: Healthcare
Education Required: Ph.D.
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6. Doctor
Median annual salary: $208,000 per year
Industry: Healthcare
Education Required: Ph.D.
7. Psychiatrist
Median annual salary: $208,000 per year
Industry: Healthcare
Education Required: Ph.D.
8. Nurse Anesthetist
Median annual salary: $195,610
Industry: Healthcare
Education Required: Master's
According to the Accreditation Council for Nursing Anesthesia Educational Programs, effective January 1, 2025, all US nursing anesthesia programs are required to award a doctoral degree before students can enter practice.
9. Pediatrician
Median annual salary: $170,480
Industry: Healthcare
Education Required: Ph.D.
10. Pilot
Median annual salary: $134,630
Industry: Social services
Education Required: Bachelor's Degree
Some of the factors that drive wages in the health care field have stayed the same for decades: expensive education, stressful working conditions, long hours, and provision of essential services.
While specialists tend to earn the biggest paychecks, general practitioners and even non-medical roles like nurse anesthetists also command good salaries.
Healthcare employers have indicated that their top priority is providing “competitive benefits to attract and retain talent”;
and second is concern about staff “burnout,” according to a September 2022 Aon report, which collected data from more than 2.6 million US health system employees.
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Health care is expected to add two million new jobs in the next 10 years, the most positions in any sector, indicates a report from the US Bureau of Labor Statistics.
“We are still feeling the effects of the ongoing COVID-19 pandemic,
baby boomers
are aging so we have an aging population, and preventative care is becoming increasingly important,” Janica Ingram, careers editor in US News., he tells CNBC Make It. “Health care will continue to be a stable industry with many in-demand occupations for a long time to come,” he notes.
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If the medical field isn't for you,
other industries, like engineering and management
, can also lead to lucrative jobs, Ingram adds.
Overall, more employees can expect to see substantial pay increases this year: Companies say they are budgeting 4.3% of their total payroll to spend on raises in 2023, the highest proportion since 2001, according to data from The Conference Board.
