What Are the Highest Paid Professions in 2020?

highest paid professions

What are the Highest Paid Professions for the next decade? Find out Ahead.

Highest Paid Professions

When choosing a career, we usually pick one that matches our interests and we also evaluate the salary range for each profession. In America, two industries are on the lead for the highest-paying jobs; healthcare and technology. Both are known to offer salaries over $100,000 annually, with some roles even offering $200,000—which is one of the highest salary ranges in the country. 

According to the Bureau of Labor Statistics, the healthcare industry is expected to grow by 14% between 2018 and 2028. And the tech industry is projected to grow 12% between 2018 and 2028, according to the BLS. Therefore,  it is no surprise that even the entry-level tech jobs offer lucrative compensation. Here are some of the Highest Paid Professions in the world today.

Information Security Engineers ($131,300)

An information security analyst is a vital employee in any company these days. Information security engineers protect a company’s data from malicious parties by improving security features. These professionals make sure that there are no gaps in a company’s IT system where hackers could get in. 

Information security analysts are often confused with cybersecurity engineers. While the latter only protects digital information, the former handles all types of data regardless of whether it’s stored digitally or not. Information security analysts can make up to $131,300, according to Glassdoor, and is one of the Highest Paid Professions in the world.

DevOps Engineers ($137,400)

DevOps if one of the Highest Paid Professions in the world at the moment. DevOps engineers are the bridges between the development team and the operations department. When these parties are not aligned with the company’s goals, the development process tends to be very slow and tedious. Therefore, DevOps engineers are responsible for making the communication process seamless and more efficient to increase the productivity levels in both departments. According to Glassdoor, DevOps engineers have an average salary of $137,400. 

Software Architects ($145,400)

To fully understand what a software architect does, we need to compare the roles to that of a  regular architect; design the infrastructure of the product, and create the whole strategy to execute the final product. A software architect would apply all that and more to the software development process.

Although this is a pretty technical role, software architects also deal with a lot of non-techie members of the team. Therefore, they need to have excellent communication skills for both tech and non-technical discussions, meetings, and presentations, and it is one of the Highest Paid Professions in the world.

Physicians ($193,000)

Now, we get to the healthcare industry. Physicians are doctors who specialize in non-surgical procedures. They often conduct and prescribe effective treatment depending on their specialty. Different types of physicians specialize in a variety of fields such as dermatology, pediatrics, or gynecology. These three types of physicians are some of the most common specializations, according to St. George’s University. The average salary of a physician is around $193,000 and wow this is too much, it is one of the Highest Paid Professions in the world.

Psychiatrists ($220,380)

Psychiatrists are medical doctors that treat patients with mental or emotional disorders. Psychiatrists run tests at a medical laboratory to diagnose mental illnesses or conditions. Some people usually confuse the role of a psychiatrist with the role of a psychologist. Both are very different and one of the significant differences is that psychologists are not able to prescribe medicine in most states in the United States, while psychiatrists can. 

The demand for psychiatrists will grow according to a study by Merrit Hawkins. The reason for this is that most of the current psychiatrists are on their way to retirement, and the supply of psychiatry graduates is low, according to the same article. The average salary of a psychiatrist is $220,380 according to Glassdoor, while St George’s University reports an average salary of approximately $208,000, seeing this we can tell that it is one of the Highest Paid Professions currently in the world.

Conclusion

The tech industry and the healthcare industry currently hold some of the highest-paying jobs in the country. However, according to Glassdoor’s highest-paying jobs report in 2019, the healthcare industry was leading the list. This year, the demand for physicians and healthcare professionals will likely increase significantly due to the current COVID-19 outbreak. It is safe to assume that the salary for healthcare professionals will probably be on the rise this year as well.

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