Highest-Paying Careers in STEM
Keep in mind that salary ranges can vary based on factors such as experience, education, location, and industry trends. Additionally, the job market is dynamic, so it’s advisable to consult recent salary surveys and market reports for the most up-to-date information. Here are some high-paying STEM jobs:
Software Development Manager: Managers overseeing software development teams often earn high salaries due to their leadership responsibilities and technical expertise.
Data Scientist: Data scientists analyze and interpret complex data sets to inform business decision-making. Their expertise in statistics, programming, and machine learning is highly valued.
Artificial Intelligence (AI) Engineer: Professionals specializing in AI design and implement algorithms, models, and systems for tasks such as natural language processing, computer vision, and machine learning.
Cybersecurity Manager: With the increasing importance of cybersecurity, managers responsible for overseeing the security of an organization’s digital assets are in high demand.
Petroleum Engineer: These engineers work in the oil and gas industry, focusing on the extraction and production of petroleum resources. Their expertise is crucial for energy companies.
Medical Director (Healthcare): Medical directors in healthcare organizations, especially those with a background in both medicine and technology, are well-compensated for their leadership and strategic roles.
Cloud Solutions Architect: As more businesses move to cloud-based infrastructures, architects who design and implement scalable and secure cloud solutions are in demand.
Quantitative Analyst (Finance): In the finance industry, quantitative analysts, or “quants,” use mathematical models to analyze financial markets, assess risk, and inform investment decisions.
Nuclear Engineer: Nuclear engineers work on the design, development, and maintenance of nuclear power systems. They play a crucial role in ensuring the safety and efficiency of nuclear energy production.
Pharmaceutical Research Scientist: Scientists involved in pharmaceutical research, particularly those focused on drug discovery and development, contribute to the advancement of healthcare and can command high salaries.
Aerospace Engineer: Aerospace engineers design and develop aircraft, spacecraft, and related systems. They work in industries such as aerospace manufacturing and research and development.
Machine Learning Engineer: With the increasing prominence of machine learning and artificial intelligence, engineers who specialize in developing and implementing machine learning algorithms are in high demand.
Remember that these rankings may change over time, and it’s essential to consider not only the potential salary but also your interests, skills, and the overall job market conditions when pursuing a STEM career. Additionally, salaries can vary based on geographical location and industry-specific factors. For the most accurate and current information, consult recent salary surveys and job market reports.
While tens of thousands of workers have been laid off this year, occupations in the STEM industry remain in high demand. STEM-related jobs are expected to increase by nearly 800,000 by 2031; more than half of these are projected to be mathematical and computer occupations, according to a recent SmartAsset study.
Six out of ten workers worldwide say they’re in the market for a new job and there is a huge interest in STEM careers. However, there are a lot of questions and misconceptions about the right pathway to attaining those jobs, according to a new survey from IBM and Morning Consult.
Here’s the breakdown.
- 61% of students and career changers are actively looking for a new job now or plan to within the next year
- More than 80% of all respondents have plans to build their skills in the next two years
- At least 90% are confident they can develop skills or learn something new from an online program.
- 61% of respondents think they are not qualified to work in a STEM job because they don’t have the right academic degrees
- 40% of students say the greatest barrier to professional or technical skill development is that they don’t know where to start
- 60% of respondents worry that digital credentials may be costly to obtain
- Being able to continue to work while earning a credential is particularly important to career changers.
Growth in the American STEM industry is attributed mainly to the country’s growing computer industry. Computer occupations are projected to be in demand over the next decade because of growth in the American digital economy, a U.S. Department of Labor Beyond the Numbers report finds.
Information security jobs top the list of fastest-growing STEM jobs for the second year in a row. STEM jobs overall account for 5.9% of the fastest-growing occupations in the United States.
Of the fastest-growing STEM occupations, here are seven that pay over $100,000, according to the U.S. Bureau of Labor Statistics:
Physicists
Median salary: $152,430
Growth rate 2017-2021: 19.8%
Projected growth rate 2021-2031: 8.2%
Change in number of jobs 2017-2021: 3,310
Projected change in number of jobs 2021-2031: 1,900
Computer and information research scientists
Median salary: $131,490
Growth rate 2017-2021: 10.5%
Projected growth rate 2021-2031: 21.3%
Change in number of jobs 2017-2021: 2,920
Projected change in number of jobs 2021-2031: 7,100
Computer hardware engineers
Median salary: $128,170
Growth rate 2017-2021: 10.5%
Projected growth rate 2021-2031: 4.8%
Change in number of jobs 2017-2021: 6,980
Projected change in number of jobs 2021-2031: 3,700
Computer network architects
Median salary: $120,520
Growth rate 2017-2021: 7.0%
Projected growth rate 2021-2031: 4.3%
Change in number of jobs 2017-2021: 11,000
Projected change in number of jobs 2021-2031: 7,500
Actuaries
Median salary: $105,900
Growth rate 2017-2021: 19.9%
Projected growth rate 2021-2031: 20.8%
Change in number of jobs 2017-2021: 3,830
Projected change in number of jobs 2021-2031: 5,900
Information security analysts
Median salary: $102,600
Growth rate 2017-2021: 49.4%
Projected growth rate 2021-2031: 34.7%
Change in number of jobs 2017-2021: 51,970
Projected change in number of jobs 2021-2031: 56,500
Biochemists, biophysicists
Median salary: $102,270
Growth rate 2017-2021: 28.0%
Projected growth rate 2021-2031: 15.3%
Change in number of jobs 2017-2021: 7,670
Projected change in number of jobs 2021-2031: 5,700
Scholarships to help students into STEM disciplines are multiplying, and an online search will throw up hundreds of results. However, not every scholarship is for you, both in terms of eligibility and interest. Some are open to all STEM students, others are for students already in college, and some are exclusively targeted at underrepresented groups like women and minorities. One thing that can help with the filtering process is being clear about the field or industry you want to go into. You can make a long list of prospective scholarships that meet your requirement before shortlisting your priority targets. Make sure to apply to as many scholarships as necessary, including a few outside your industry focus, to improve your chances of success. IOScholarships simplifies the process for you. It matches you with thousands of scholarships based on your talents and skills. This improves your chances of winning the scholarship.
If you would like to know more about top STEM careers read the following article