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3 Highest Paying Industries For 2024

What Are Some Of The Highest Paying Industries?

(Disclaimer: Salaries are according to research at the time of writing, are extracted from Salary.com, and are based on roles within the United States. Actual salary averages and industry job trends may vary from state to state.)

The three highest paying industries globally are:

  • Finance and banking
  • Information technology
  • Healthcare

1. Finance And BankingThe financial industry is multifaceted, comprising institutions and arenas such as commercial banks, investment banks, regulatory bodies, insurance firms, and asset management. Since finance is such an integral aspect of any organization's operations, you could also find yourself working in finance while outside of the financial industry directly, for instance, if you worked in the finance department of a global PR firm. Within finance and banking, three of the highest paying roles include:

  • Chief Financial Officer (average salary $435,559)
  • Hedge fund manager (average salary $139,033)
  • Private equity associate (average salary $107,039)

Who Should Consider A Job In The Financial Industry?

Do you consider yourself to be highly analytical, or enjoy interpreting financial statements and making complex decisions based on data? Perhaps you are apt in strategic thinking, conducting risk assessments, or possessing meticulous attention to detail and compliance. If so, aiming to progress your career in finance would make an excellent choice.

What Are The Required Qualifications For A Job In Finance And Banking?

It honestly varies depending on your specific career path and the role you are pursuing, but as a general rule, employers prefer candidates who possess:

  • At least a bachelor's degree within finance or similar
  • Industry-specific certifications, for example CPA (Chartered Public Accountant) or CRP (Certified Risk Professional)
  • An advanced degree may be needed, such as an MBA or Master's in Finance
  • Proficiency with financial modeling software
  • Problem-solving and excellent analytical skills
  • Attention to detail, especially in auditing or accounting

2. Information Technology

The tech industry is rapidly evolving and affects almost every aspect of work, every industry, and our daily lives. It shows no signs of slowing down, particularly with the progression and advancements of AI recently.

The $4.6 trillion industry, up from $4.4 trillion in 2022 according to Gartner, includes roles spanning from software development, to cloud computing, telecoms, artificial intelligence and machine learning, and cybersecurity. Because the IT sector is so broad, there is plenty of scope to explore potential career paths—even without needing to be a technical person yourself. Some high-paying roles within the tech industry include:

  • Product manager (average salary $79,352)
  • Data scientist (average salary $144,512)
  • Lead AI engineer ($178,915)

Who Should Consider A Job In The Technology Industry?What makes working in the tech industry particularly appealing is that you are able to innovate and drive solutions to solve the world's challenges in unique ways. Whether you are at the forefront of development through working directly in the technical team, or you support the team in other ways (such as through product management), there's always something to be excited about, especially if you create or discover (or help your technical team discover) something truly ground-breaking.

If you consider yourself a tech enthusiast, seeming to always gravitate towards coding and software development, and are always consuming the latest trends in the industry, that's a good sign because in this industry you always need to be learning so you don't fall behind.

What Are The Required Qualifications For A Job In Information Technology?Again, it hugely varies depending on your specific role and seniority level. But generally, you can expect to need:

  • Bachelor's degree in computer science or similar
  • Master's degree depending on the role
  • Strong communication skills to be able to relay complex technical concepts to non-technical stakeholders'
  • Creativity, resilience, and problem-solving
  • Strong team collaboration skills

3. HealthcareThe healthcare industry encompasses healthcare institutions such as hospitals, nursing homes, and community health centers. It also extends to promoting wellbeing through private practices, undertaking research and manufacturing medications, managing healthcare insurance, and maintaining information management systems for patient records and related facilities. according to a Yahoo Finance report, the healthcare industry is estimated to be valued at $9,816.85 billion by 2027. Some of the highest-paying healthcare roles include:

  • General surgeon (average salary $432,400)
  • Anesthesiologist (average salary $426,800)
  • Medical director (average salary $322,484)

Who Should Consider A Job In The Healthcare Industry?Working within healthcare requires a genuine commitment and passion for improving the patient experience and advancing public health holistically. If you're driven by a desire to make a strong impact, advocating for healthy lifestyles, preventing disease, and supporting patients and their families, and consider yourself to be empathetic and compassionate, there are many ways to work in this industry, both directly and indirectly.

Your role may not be directly related to administering or crafting ground-breaking medications, but you could rest assured in the knowledge that the work you do supports the overall mission.

What Are The Required Qualifications For A Job In Healthcare?Healthcare roles differ extremely widely as they cover so many key areas, from nursing, to healthcare information management, to mental health, to allied health professions. So it's essential to check your role-specific requirements and state regulations, especially as most roles require a bachelor's degree, postgraduate degree, and licencing before you can operate.

The demand for skilled professionals and leaders is not waning, and there is enormous opportunity for eye-watering salaries and purpose-driven career paths at your fingertips next year. The only question that remains is, which path will you choose?

Read More: Forbes

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