Facing the rising cost of university tuition and student debt, Americans are becoming increasingly interested in high-paying jobs that do not require a degree. A new occupational analysis has revealed that there are jobs in the United States that offer six-figure salaries without the need for a degree, although these opportunities are limited.
According to a recent analysis released by the higher education platform Niche on September 20th, workers without a bachelor’s degree often earn the highest salaries in professions that require federal certification or specialized training.
Using data from the Bureau of Labor Statistics (BLS), Niche economist Allison Shrivastava discovered occupations that do not require a degree and have a median annual salary exceeding $100,000:
1. Air Traffic Controllers: $148,080
2. Commercial Pilots: $123,220
3. Nuclear Reactor Operators: $122,890
4. Elevator Installers: $109,910
This study refutes the emerging notion that there are a significant number of jobs in skilled trades with annual salaries exceeding $100,000. Some politicians and business leaders argue that a four-year college education is not essential for economic security, pointing to professions like electricians, HVAC technicians, and plumbers who earn over $100,000 annually.
However, the analysis report from Niche indicates that the median annual salaries for these occupations are as follows: Plumbers – $63,800, Electricians – $63,190, HVAC Technicians – $61,010, Welders – $53,750.
The analysis reveals that only 9.4% of occupations with a median salary of $100,000 or more do not require a bachelor’s degree. These jobs represent only 0.3% of the total projected 13.8 million new positions annually that do not require a bachelor’s degree.
The number of positions that do not require a bachelor’s degree is four times higher than those requiring one, but the salaries for these jobs are generally lower. The median income for these professions is about $45,000, while occupations requiring a bachelor’s degree have a median income of $96,000.
Shrivastava stated that while some skilled trade jobs can indeed bring in six-figure incomes, such positions are limited in number. Vocational training can help individuals escape poverty, but the income potential is lower compared to those with a bachelor’s degree.
A study conducted by the National Bureau of Economic Research (NBER) in 2023 found that the wage premium associated with a college degree (the income difference compared to high school graduates) doubles as individuals age, growing from 27% at age 25 to 60% at age 55. Furthermore, individuals with a college degree often have greater opportunities for on-the-job training and salary growth in their respective careers.