U.S. Wages Up 3% Year-Over-Year
Last month, U.S. median base pay increased 3% year-over-year to $51,336, according to a report from Glassdoor. This is the fastest pace of pay growth recorded in three years, tied with January earlier this year.
“The positive wage growth is a sign of today’s hot U.S. labor market; March’s year-over-year increase shows that wages are stable and steadily increasing, especially among jobs where there is high demand for workers,” said Dr. Andrew Chamberlain, chief economist of Glassdoor.
The two cities with the fastest YoY salary growth in March were Los Angeles and Chicago, at 4.4% and 3.8%, respectively.
Tech Market Update
While tech jobs are high in demand, reports show a slowdown in pay for some local tech roles this year. Pay declined slightly for web developers in March, and was essentially flat for java developers. Some of the technology job titles with the biggest YoY salary increases include Data Analyst (4.2%), Programmer Analyst (4.1%), and Software Engineer (3.8%).
Another sign of today's red-hot labor market is the bump that recruiters saw last month. According to Chamberlain, “Recruiters are in high demand because unemployment is down in the U.S., at 4.7% we are near full employment. In this environment, employers have to rely more on passive candidates, and with fewer unemployed workers, recruiters become more important.”
Despite their recent deceleration in pay growth, tech jobs make up 11 of Glassdoor's Highest Paying Jobs in America for 2017, more than any other industry. Here are the top 25 Highest Paying Jobs and their median base salaries:
- Physician | $187,876
- Pharmacy Manager | $149,064
- Patent Attorney | $139,272
- Medical Science Liaison | $132,842
- Pharmacist | $125,847
- Enterprise Architect | $112,560
- Physician Assistant | $112,529
- Applications Development Manager | $112,045
- R&D Manager | $111,905
- Corporate Controller | $110,855
- Software Engineering Manager | $109,350
- IT Architect | $105,303
- Software Architect | $104,754
- Nurse Practitioner | $104,144
- Solutions Architect | $102,678
- Data Architect | $102,091
- Actuary | $99,507
- IT Program Manager | $98,883
- UX Manager | $98,353
- Systems Architect | $97,873
- Plant Manager | $97,189
- Scrum Master | $95,167
- Financial Planning & Analysis Manager | $94,862
- Nuclear Engineer | $94,852
- Attorney | $94,695