Tuesday, February 1, 2011

Why do technical people get paid more?

Maybe your thinking why do technical people get paid more than others, but before that, we have to know first some of the facts, surveys and studies conducted in the U.S.

Research shows that Business and technology and management in which technical people belong are next to Medical and dental as highest paid professions.

The 2004 United States Department of Labor, Bureau of Statics' Occupational Survey revealed the 25 highest paid professions fall into five categories:
  • Medical and dental
  • Business and technology and management
  • Airline and space
  • Law
  • Engineering and science

Source: wisegeek.com

Medical and dental specialists top the list of the highest paid professions, as they hold numbers one through eight of the 25 highest earning jobs as well as five other rankings on the 2004 list. Anesthesiologists are number one, internists number two and obstetricians and gynecologists number three of the top professional earners in the United States. Oral surgeons take the fourth spot, orthodontists the fifth and prosthodontists the sixth. Psychiatrists are listed as the seventh of the highest paid professions, while surgeons are ranked as the eighth. The average 2004 income for these eight professions is more than $145,600 US dollars (USD).

Family and general physicians, with their average annual 2004 salary listed at $137,090 USD, place tenth on the Survey. Pediatricians, at an average income of $135,730 USD in 2004, are ranked eleventh. Thirteenth on the list of the highest paid professions are dentists, with an average annual 2004 salary of $125,060 USD, while podiatrists are ranked eighteenth with an average income of $94,400 in 2004. According to the Survey, optometrists, with an average salary of $88,410 in 2004, are the twenty-third highest paid professionals in the United States.

Business and technology management professions occupy three of the 25 highest paid professions listed on the Occupational Statistics Survey. Chief Executive Officers (CEOs), with an average annual salary of $140,350 USD in 2004, rank as the ninth highest paid professionals. Computer and Information Technology (IT) managers rank as the twentieth highest earning professionals with an average 2004 income of $92,570 USD. Marketing managers, with average 2004 earnings of $87,640 USD, are ranked twenty-fourth out of the 25 highest paid professions on the Survey.

Airline and space industry jobs are listed as the twelfth, fourteenth and sixteenth highest paid professions in the United States. Airline pilots, copilots and airline engineers earn about $129,250 USD, according to the 2004 statistics. The 2004 average salary of air traffic controllers is about $102,030 USD per year, while astronomers earned an average of $97,320 USD in 2004.

Law-related professions rank seventeenth and nineteenth on the 2004 Occupational Statistics Survey. The average 2004 salary of lawyers is listed as $94,930 USD. Judges and magistrates earn an average of $93,070 USD, according to the 2004 Survey.

Engineering and science professions account for four of the 25 highest paid professions listed on the 2004 Survey. Engineering managers, with an average 2004 annual salary of $97,630 USD, rank as the fifteenth highest earning professionals. Natural Science managers are ranked at the twenty-first highest paid professionals at an average income of $88,660 USD in 2004. Petroleum engineers are listed at number twenty-two on the list due to the findings of their average income at $88,500 USD in 2004. A physicist, with an average annual 2004 salary of $87,450 USD, is the twenty-fifth highest earning professional of the 25 highest paid professions on the 2004 Survey.

Forbes Magazine: America's 25 Best-Paying Jobs 2009
Listed with average annual pay

1. Surgeons: $206,770
2. Anesthesiologists: $197,570
3. Orthodontists: $194,930
4. Obstetrician and Gynecologists: $192,780
5. Oral and Maxillofacial Surgeons: $190,420
6. Internists: $176,740
7. Prosthodontists: $169,810
8. Physicians: $165,000
9. Family and General Practitioners: $161,490
10. CEOs: $160,440
11. Dentists: $154,270
12. Psychiatrists: $154,050
13. Pediatricians: $153,370
14. Specialist Dentists: $142,070
15. Podiatrists: $125,760
16. Lawyers: $124,750
17. Natural Sciences Managers: $123,140
18. Engineering Managers: $120,580
19. Pilots: $119,750
20. Petroleum Engineers: $119,140
21. Computer and Information Systems Managers: $118,710
22. Marketing Managers: $118,160
23. Financial Managers: $110,640
24. Sales Managers: $110,390
25. Air Traffic Controllers: $108,090

CNBC Highest Paying Jobs 2010
Listed with average annual salary (source: U.S. Bureau of Labor Statistics)

1. Surgeons: $219,770
2. Anesthesiologists: $211,750
3. Oral & Maxillofacial Surgeons: $210,710
4. Orthodontists: $206,190
5. Obstetricians & Gynecologists: $204,470
6. Internists: $183,990
7. Physicians & Surgeons: $173,860
8. Family and general practitioners: $168,550
9. Chief Executive Officer (CEO): $167,280
10. Psychiatrists: $163,660
11. Pediatricians: $161,410
12. Dental Generalist: $153,570
13. Dental Specialist: $153,570
14. Podiatrists: $131,730
15. Lawyers: $129,020
16. Natural Sciences Managers: $127,000
17. Prosthodontists: $125,400
18. Engineering Managers: $122,810
19. Computer and Information Systems Managers: $120,640
20. Marketing Managers: $120,070

In my own opinion, listed below are some of the factors which I think why technical people get paid with a much higher salary.
  • Technical people always up to date with the latest technology.
  • They are continuous in learning and research for new technology.
  • They find new ways to make the impossible possible.
  • Technical people doesn't recite solutions to the problems, they resolve it by their own strategy.
  • They are not a normal people that do what was written in text books, they create their own solution and take note of it as a learning experience.
  • They are with higher IQ's and best in problem solving. The GEEK people.

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