New York State: One of the Most Expensive Places to Live in the United States
New York State, particularly New York City, is known for its high cost of living. Its cost of living index, according to data from the Council for Community and Economic Research, is the highest in the country. When considering jobs and college degrees, it’s important to factor in earnings to sustain living expenses. The minimum wage in New York State is $14.20 ($15 in NYC), but some jobs can pay more than $100 per hour.
The Top 10 Highest Paying Jobs in New York
The Bureau of Labor Statistics (BLS) shared data on state estimates of wages and occupational employment in May 2022. Here are the top 10 highest-paying jobs in New York:
- Pediatric Surgeon: This profession has a median hourly wage of $199.91 and a median annual wage of $415,810. Pediatric surgeons diagnose and perform surgeries to treat fetal abnormalities and birth defects, diseases and injuries in fetuses, premature infants and newborns, children and adolescents.
- Dermatologist: This profession has a median hourly wage of $171.19 and a median annual salary of $356,080. Dermatologists diagnose and treat diseases related to the skin, hair, and nails, including medical and dermatologic surgeries.
- Cardiologist: With a median hourly wage of $167.72 and a median annual salary of $348,860, cardiologists diagnose, treat, control and prevent diseases or conditions of the cardiovascular system. They may also specialize in interventional procedures, echocardiography, or electrophysiology.
- CEO: Chief Executive Officers determine and formulate policy and provide general direction for public and private sector companies or organizations within guidelines established by a board of directors or similar government body. They plan, direct or coordinate operational activities at the highest level of management with the help of subordinate executives and personnel managers. They have a median hourly wage of $155.95 and a median annual wage of $324,370.
- Anesthesiologist: Anesthesiologists have a median hourly wage of $148.73 and a median annual wage of $309,350. Their duties include administering anesthetics and pain relievers for pain control before, during, or after surgery.
- Radiologist: Radiologists have a median hourly wage of $148.5 and a median annual salary of $308,970. They interpret medical images to diagnose and treat diseases or injuries.
- Physician: Physicians have a median hourly wage of $147.80 and a median annual wage of $307,420. They diagnose and treat illnesses and injuries, and may prescribe medication.
- Ophthalmologist: Ophthalmologists have a median hourly wage of $132.97 and a median annual wage of $276,580. They diagnose and treat eye diseases and disorders, and perform surgical procedures related to the eyes.
- Obstetrician and Gynecologist: Obstetricians and gynecologists have a median hourly wage of $128.06 and a median annual wage of $266,360. They specialize in women’s reproductive health, including pregnancy, childbirth, and menopause.
- Emergency Medicine Physician: Emergency medicine physicians have a median hourly wage of $120.32 and a median annual wage of $250,260. They diagnose and treat acute illnesses and injuries that require immediate medical attention.
These are the highest-paying jobs in New York State. If you’re considering a career change or looking for a college degree, these professions may be worth exploring.