If you are not going the entrepreneurial way or earning big fat bonuses as an I-banker, then the medical profession is the place to earn the big bucks. Compensation data reveals that the medical profession pays the highest when it comes to earning wages. Here is the list of the top 10 highest paying careers.
Navigation Menu of the Top 10 Highest Paying Jobs
1. Surgeons
2. Anesthesiologist
3. Oral and Maxillofacial Surgeon
4. Orthodontist
5. Obstetrician or Gynecologist
6. Internist
7. Chief Executive Officer
8. Psychiatrist
9. Prosthodontist
10. Engineering Manager
1. Surgeons
Surgeons earn a whopping $219,770 a year on an average. As performing surgeries requires highly specialized skill, individuals who set out in the profession undergo nearly 10-15 years of training. Normally, surgeons choose a particular area of expertise like the brain, heart or transplant. The profession calls for the standard four years of medical school, followed by a residency or internship for anywhere between 3-7 years.
The duration largely depends on the specialization that is chosen. Surgeons can practice only if they possess a license for which they have to clear an examination. Loans for paying exorbitant medical college fees and liability insurance are possibly the downside of this profession.
2. Anesthesiologist
Next in the ranking are anesthesiologists, who earn around $211,750 a year. A lot of people wonder why they rank so high on the list. Their stress quotient is not as significant as a surgeon’s but significantly above other professionals in the medical field. They administer anesthetics and keep a close watch on the heart and breathing rate during surgical procedures. The job market is favorable for anesthesiologists although it takes around 12 years to study and train to become sufficiently skilled.
3. Oral and Maxillofacial Surgeon
These medical professionals draw around $210,710 a year. Their work involves operating on the jaw, skull, mouth and face. Oral and maxillofacial surgeons specialize in cosmetic surgery, microvascular reconstruction (treatment of cancer in the neck and head) and pediatric maxillofacial surgery. They are required to finish a 12 year period of study and training, as well as a year or two of training to get their specialization.
4. Orthodontist
The average orthodontist earns approximately $206, 190 per year. A large portion of their job focuses on examining and treating oral cavities, designing braces to correct protruding and unevenly spaced teeth, assessing dental and facial abnormalities and providing appropriate treatment.
Similar to other medical professions, it takes a combination of knowledge, skill and experience to examine, diagnose and treat dental troubles. Before they can enter into licensed practice, they need to study for a period of 4 years and train for a minimum of 5 years after that.
5. Obstetrician or Gynecologist
At the fifth position are the obstetricians/gynecologists, who are paid approximately $204,470 annually. The pressure associated with this profession is also often underestimated. It requires training and skill to ensure that a delivery goes according to plan, and when it doesn’t, making the right calls to ensure that two or more lives are not in danger is an obstetrician’s job.
These medical professionals tend to childbirth, infections and diseases that crop up in the pre-natal phase and address other areas pertaining to pregnancy and female reproductive health. They study and train for a period of 12 years before they can practice as a licensed professional.
6. Internist
An internist earns around $183, 990 a year. These general physicians chiefly work in the diagnosis and treatment of chronic and severe ailments without venturing into surgery. They are the most common type of medical professionals that people come in contact with for treatment of conditions related to internal organs.
Their work involves prescribing medication to treat diseases and various ailments as well as counsel patients on health issues. Training to start a full-fledged practice begins with 4 years in college, followed by 3-11 years of residency, depending on the area of expertise chosen.
7. Chief Executive Officer
Anyone would have thought that a CEO would be up among the top 3 of this list, if not in the very first position itself. Typically, in a business or company’s hierarchy, CEOs are in the topmost position and are almost always the highest paid. They steer company initiatives and give directional strategies to improve overall business performance and grow the company. They are answerable to their company’s board of directors and can be voted out of their position, if the board finds it to be in the best interests of the company.
Most of the time, CEOs possess a bachelor’s degree. An MBA is often highly desirable but clearly not necessary, as has been demonstrated by many highly regarded CEOs. Average pay of a CEO is around $167,280.
8. Psychiatrist
Psychiatrists draw around $163,660 every year for the demanding task of listening to other people’s psychological issues and treating them with therapy. Their job involves recognizing underlying symptoms of emotional or cognitive problems. They specialize in treating the disorders related to the mind, a task that is both physically but more often, mentally exhausting. A psychiatrist is required to go through 4 years of medical school and then train for at least another 4 years.
9. Prosthodontist
In the United States, a Prosthodontist earns on an average $125, 400 a year. Their field of expertise revolves around replacing missing teeth, designing and fitting oral prostheses and dentures, and treating other oral and dental health problems. They perform procedures to improve teeth appearance like bleaching, polishing and using veneers over teeth.
It is estimated that dentists work around 4 or 5 days a week but this largely depends on whether their practice is established or not. They are required to complete four years of medical school and another 5-7 years of training.
10. Engineering Manager
With an average yearly salary of $122,810, an engineering manager ranks tenth on the list. Coordination, planning and research are among the several tasks that he is required to perform. Engineering managers often work out goals and frame plans for implementing specific measures in projects.
They also work in coordination with other units and supervise the activities and performance of information systems managers. They are typically required to have a bachelor’s and master’s degree, preferably associated with the relevant field.
Even though the list of highest paying jobs is dominated by medical professionals, but these professions are clearly not the easiest to get in and take over a decade of study and training before you become a licensed doctor and start making big bucks. The medical jobs involve high stress and probably this is the reason why they are compensated so highly.
