Working in the Empire State: 15 Highest-Paying Jobs in New York
The highest-paying jobs in New York can pay well over $100,000 per year. Here's what you need to know.
- The cost of living in New York City is significantly higher than in most other U.S. cities.
- Jobs in NYC are some of the highest paying in the country.
- The minimum wage in New York state is between $13.20 and $15.00 per hour.
- Albany, Buffalo, and Syracuse are some of the most affordable cities in New York.
According to Payscale, the cost of living in New York City is 129% higher than the national average. Everything costs more, from healthcare to a loaf of bread. Housing expenses are a whopping 369% higher than average. The good news is that jobs in New York state offer some of the highest-paying salaries in the country.
Bureau of Labor Statistics (BLS) data indicates that New York professionals in marketing, business, and finance earn an average of over $100,000 per year. But you don't have to live in one of NYC's five boroughs. A higher salary means lower stress when covering basic needs whether you live in the city or outside of it.
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Working and Living in New York
New York state is culturally diverse, full of fun things to do, and home to many natural wonders. New York has something for everyone, including a wide range of job opportunities. The New York State Department of Labor (DOL) found the average weekly wage in the state was about $1,690 in 2021.
However, there's a significant gap between New York's minimum wage and the DOL's computations. The minimum wage in New York is between $13.20 and $15.00 per hour, depending on where you live. Fast food service workers make a minimum wage of $15.00 per hour throughout the state.
Additionally, the cost of living is also lower in some of the state's smaller cities, suburbs, and rural areas. For example, Albany, Buffalo, and Syracuse are some of the most affordable cities in New York. If you're searching for jobs in New York while in college, tourism and retail jobs are plentiful in Hudson, Syracuse, and other college towns.
Landing one of the highest-paying jobs in New York means more comfortable living, so let's take a look at the state's most lucrative positions.
What Are the Highest-Paying Jobs in New York?
2021 Median Annual Salary in the U.S.: $93,000
2020-2030 Job Outlook: 14% growth
Management analysts need at least a bachelor's degree in a subject like business, engineering, or social science. Many employers prefer an advanced degree for senior-level positions, as these analysts often supervise complex projects. Most management analysts have several years of work experience in their specific field.
Additionally, holding a Certified Management Consultant credential from the Institute of Management Consultants USA may make jobseekers more competitive. Having a certification is proof of management education, experience, and expertise.
President/Chief Executive Officer
2021 Median Annual Salary in the U.S.: $98,980
2020-2030 Job Outlook: 8% growth
These top executives typically have a degree in a work-related subject, such as a bachelor's degree in public administration or business management. Presidents and chief executive officers (CEOs) often pursue a master's degree in business administration (MBA). Additionally, a CEO may need to be a certified public accountant (CPA).
It also takes years of work experience in your specific industry to enter these careers in New York. Presidents and CEOs may advance within their organizations, moving up from management or supervisory roles.
Medical and Health Services Managers
2021 Median Annual Salary in the U.S.: $101,340
2020-2030 Job Outlook: 32% growth
A bachelor's degree is the minimum educational requirement for medical and health services managers. A master's degree may be required depending on the employer and the specific role. Majors typically focus on management, healthcare, and business courses.
For example, a master's in health informatics program focuses on teaching students to use data and information technology (IT) to improve healthcare. These healthcare professionals also need work experience in administrative or clinical roles in healthcare facilities.
Information Security Analysts
2021 Median Annual Salary in the U.S.: $102,600
2020-2030 Job Outlook: 33% growth
Information security analysts typically need a bachelor's degree in information technology or a related field, such as math or engineering. These professionals usually have experience working in an IT department as network and computer systems administrators.
Employers often prefer candidates who have a specialized information security certification, such as the Certified Information Systems Security Professional (CISSP). CISSP certification demonstrates to employers that a candidate can effectively design, implement, and manage a cybersecurity program.
2021 Median Annual Salary in the U.S.: $103,710
2020-2030 Job Outlook: 8% growth
Sales engineers may have a bachelor's degree in mechanical, electrical, or electronics engineering. Some major in chemical, biomedical, or civil engineering. New graduates need to gain sales experience and additional training before working as sales engineers.
Some professionals work their way up in a company, gaining sales and technical experience. However, most sales engineers need to pursue continuing education and training, such as a master's degree. Continuing education is vital in high-technology fields because of the rapidly advancing nature of the industry.
2021 Median Annual Salary in the U.S.: $105,900
2020-2030 Job Outlook: 24% growth
Actuaries need a bachelor's degree in mathematics, statistics, or actuarial science. Some have a degree in another analytical field like data science. Professionals usually pursue an industry certification as well. The Casualty Actuarial Society certifies actuaries in the property and casualty field, including homeowners, automobile, commercial, and worker's compensation insurance.
The Society of Actuaries certifies in health insurance, life insurance, finance, investments, and retirement benefits. These credentials require the completion of coursework and seminars before candidates pass a series of exams.
Training and Development Managers
2021 Median Annual Salary in the U.S.: $120,130
2020-2030 Job Outlook: 11% growth
Training and development managers usually need either a bachelor's degree or a master's degree. An MBA, a master's degree in human resources, or a master's degree in training and development can make a candidate more competitive. However, these professionals come from various educational backgrounds such as business, communications, social science, and psychology.
Many jobs in New York for training and development managers require management, teaching, or human resources experience. Employers may also look for experience in their company's specific industry.
Computer Network Architects
2021 Median Annual Salary in the U.S.: $120,520
2020-2030 Job Outlook: 5% growth
Computer network architects need to have a bachelor's degree in computer and information technology or a related field, at a minimum. As many employers prefer candidates with a master's degree, applicants may need to continue their education to remain competitive. Additionally, professionals generally have 5-10 years of experience with information technology systems.
A computer network architect's experience may range from network and computer system administrator to computer systems analyst. Companies may also require certifications in specific networking environments or product certifications.
Computer and Information Research Scientists
2021 Median Annual Salary in the U.S.: $131,490
2020-2030 Job Outlook: 22% growth
Computer and information research scientists usually make high salaries. These roles typically require applicants to possess a master's degree in computer science or a related field, such as computer engineering. Some employers prefer candidates with a Ph.D., while others, such as the federal government, often accept applicants with just a bachelor's degree.
These professionals may need specialized knowledge as well. For example, candidates applying for work on biomedical applications usually need to have a background in biology.
2021 Median Annual Salary in the U.S.: $131,710
2020-2030 Job Outlook: 17% growth
Financial managers need a bachelor's degree and five or more years of experience. These professionals typically have a bachelor's degree in economics, finance, business, or a related field. Employers generally look for candidates with professional certifications showing proof of specific competencies.
For example, CPAs must pass an American Institute of Certified Public Accountants exam and obtain a license to practice public accounting. Similarly, the Association of Government Accountants offers federal, state, and local government certification.
Advertising, Promotions, and Marketing Managers
2021 Median Annual Salary in the U.S.: $133,380
2020-2030 Job Outlook: 10% growth
Advertising, promotions, and marketing management professionals usually have at least a bachelor's degree in advertising or a similar field. They often have taken relevant courses in market research, consumer behavior, communication methods and technology, or photography. Most of these managers have a background in advertising, marketing, or sales.
Many employers prefer candidates with certifications in popular platforms such as Google Ads.
Architectural and Engineering Managers
2021 Median Annual Salary in the U.S.: $152,350
2020-2030 Job Outlook: 4% growth
Architectural and engineering managers need years of work experience in the field. They may be able to find a role in management with a bachelor's degree. However, they often have a master's degree in engineering management or technology management if they specialize in technical areas.
On the other hand, an MBA may be more appropriate for those interested in administrative management. Some managers work while they earn their master's degree online.
Computer and Information Systems Managers
2021 Median Annual Salary in the U.S.: $159,010
2020-2030 Job Outlook: 11% growth
While computer and information systems managers may only need a bachelor's degree, many have a graduate degree. Most of these jobs in New York require several years of experience in a related technology career. A chief technology officer is a top executive who oversees the technology plan for an organization.
These professionals often need over 15 years of experience as IT systems managers to be considered. They may also have specific industry knowledge, such as in information security or healthcare administration.
Industrial Production Managers
2021 Median Annual Salary in the U.S.: $189,300
2020-2030 Job Outlook: 5% growth
While some industrial production managers have a high school diploma plus extensive production experience, most also have a bachelor's degree. Common educational pathways include a bachelor's in engineering, an MBA, or a master's degree in industrial management. These professionals also need work experience in supervisory or other leadership roles.
The American Society of Quality (ASQ) offers various credentials in quality control, including the Certified Manager of Quality/Organizational Excellence. Other ASQ Certifications include foundational quality, inspector/technician, engineering, Six Sigma, and auditing.
Physicians and Surgeons
2021 Median Annual Salary in the U.S.: $208,000
2020-2030 Job Outlook: 3%
Physicians and surgeons have some of the highest-paying careers in New York. Not only do these professionals need a bachelor's degree, but they also need to hold a Medical Doctor or Doctor of Osteopathic Medicine degree. Some medical schools combine graduate and medical school programs, offering combined graduate degrees, such as an M.D. and MBA.
All states require physicians and surgeons to hold licenses. Additionally, medical students usually attend a residency program in their specialty of interest.
Frequently Asked Questions About the Highest-Paying Jobs in New York
What is a good salary for New York?
Anywhere from $60,000 per year and up could be a good wage in New York. However, a good salary in the state depends on where you live because the cost of living varies dramatically. For example, the BLS found that the average weekly wage for people living in Manhattan was about $3,970 in 2021.
Of course, Manhattan is the most expensive borough in New York City. Other boroughs averaged from about $1,010 per week in Brooklyn to roughly $1,140 per week in Queens. You can make your salary stretch further by living outside NYC in more affordable areas like Albany.
What is the minimum wage in New York?
All minimum wage employees in New York state receive between $13.20 and $15.00 per hour. However, minimum wage rates depend on the region, the industry you work in, and if you make tips. For example, the minimum wage in Long Island, Westchester County, and New York City is $15.00. The minimum wage is $13.20 everywhere else.
Additionally, fast food workers make $15.00 per hour throughout the state, but tipped workers' minimum wage rates vary by region. Tipped service workers make a base minimum wage of $11.00 throughout the state, but in New York City, Long Island, and Westchester County, tipped service workers make a base minimum wage of $12.50. For food service workers, the cash wage for tipped workers is $10.00 in New York City, Long Island, and Westchester County and $8.80 in the rest of the state.
Can you live in New York City on minimum wage?
You can't live in New York City on minimum wage unless you're willing to have multiple roommates and/or jobs. Minimum wage jobs pay $15.00 an hour in the city, although you could earn more if you get tips. According to Payscale, the median rent in NYC is $5,100 a month and energy bills average about $210 a month.
Rents can vary dramatically depending on the borough, with Manhattan being the most expensive. Rent is the least costly in Brooklyn or The Bronx. Riverdale, Bronx, is one of the most affordable neighborhoods to rent in, with one-bedroom apartments averaging about $1,930 per month.
What is the average cost of living in New York?
The cost of living in New York City is 129% higher than in the rest of the country with a median rent of $5,100 per month, according to Payscale. Utilities can top $200 per month, and there are also food, transportation, and entertainment costs to consider. However, the cost of living in New York City varies significantly depending on which borough you reside in.
For example, Brooklyn offers lower rents than Manhattan, and you can reduce your cost of living with roommates. Alternatively, there are small towns in more rural areas that offer cheaper rents, but with that comes potentially lower wages or a long commute.
Is $100,000 a good salary in New York?
A wage of $100,000 a year is a good salary in New York, especially if you live somewhere like Albany. The city is one of the most affordable places to live in New York.
However, the average age in Albany is older because younger residents generally live in larger metropolitan areas. The best-paying jobs are in New York City and other metro areas. A salary of $100,000 a year is good, but some of the highest-paying careers in New York pay $150,000 or more.
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BestColleges.com is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.
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