How Much Do Jobs Pay – A career in “business” is broad enough to mean just about anything. Hundreds, if not thousands, of jobs can be classified as “business”-related jobs, from accountant to chief physician.
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How Much Do Jobs Pay
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At Business Student.com, we’ve compiled a directory of 127 “work” careers where we track average salaries and how they vary by location. While these jobs are by no means inclusive of all jobs in the business, they do form a representative index of job careers and salaries, which we call the Job Jobs Index.
So what are the highest and lowest paying jobs in our directory? Which cities have the highest paying jobs and if you live there, where will your money go after you pay the rent?
In our job index, the highest paid job in the United States (Medical Director) paid an average of $187,000. The lowest paying job we follow is Security Supervisor, which pays $31,000 a year. The average business job we track pays $75,000 a year.
The highest paying business jobs nationwide are in Washington, DC, California, New York and Massachusetts. The states with the lowest paid business jobs are Montana, Idaho and North Dakota. We also analyzed the 215 largest job markets in America to find the cities with the highest business salaries; The top five cities with the highest-paying business jobs are all located in Silicon Valley, and Palo Alto, CA has the highest-paying jobs.
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Finally, we found that there are some cities that have high-paying jobs, such as San Francisco, Miami, and Los Angeles, but where the bulk of your income will go to paying rent.
Before we dive into the data, a quick note on the methodology of our Business Affairs Index. The index consists of 127 popular business jobs.
The highest paying jobs in our index are senior positions in the medical industry or “C-suite” positions such as Director of Marketing. However, the vast majority of business jobs in our index pay less than $100,000.
Which states pay the most in our Business Affairs Index? The table below shows the average salary of business jobs by state, sorted from highest to lowest:
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Washington DC, California, New York and Massachusetts are the four highest paying locations for business jobs where the typical position pays around $90,000 per year. The lowest paying states for business jobs are mostly in the Midwest.
Next, how much do business salaries vary by city? Next, we analyze the average business salary in the 215 largest job markets we track. The table below shows the cities with the highest and lowest salaries:
Almost unbelievably, the top nine highest paying cities for business jobs are all in the San Francisco Bay Area.
High cost of living and the number of tech employers have driven business salaries in the Gulf to over $100,000 a year and nearly double that of cities on the “lowest” business salaries list.
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However, places that pay a lot also tend to be very expensive. We were wondering, how much of your salary is left for other things after you pay your rent?
Below, we show the average salary by city, the average monthly rent for a two-bedroom apartment according to Rent Jungle, and how much money is left on an annual basis. For this, we looked at the 65 largest markets on our site (excluding Athens, GA, for which rental data is not available). Note that this is a preliminary analysis that does not include taxes, child care, joint earnings, or other factors that may affect the cost of living.
The cities with the most money after rent are a mix of high salaries (Palo Alto, San Jose, Sunnyvale) and high enough salaries but low rents (Detroit, Chicago, Las Vegas). Given that some of the states where these cities are located have relatively high state income taxes (California) and others have zero state income taxes (Texas, Nevada), further analysis should include taxes and other expenses.
The places where most of the paycheck goes to rent are actually cities with high salaries but very high rents. Only College Station and Orlando have relatively low rents and are on the list due to low salaries. Most other cities are places with high salaries but exorbitant rents ($4,509 to rent an average two-bedroom apartment) like San Francisco.
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There is a wide variety of business jobs with an equal variance in salaries. Not all jobs make a lot of money, but some, especially in California, New York, Massachusetts, and Washington, DC.
However, cities that pay high salaries also typically have very high living costs. The city with the highest job salaries is Palo Alto, but it’s also one of the places with the highest property prices in the country. Additionally, some places like San Francisco and Los Angeles have high salaries, but you don’t take a lot of money home after your rent.
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