This Most In-Demand Job Pays Over $200,000 a Year, Here's How To Get It
The healthcare sector stands as one of the most lucrative careers in the US. According to the Bureau of Labor Statistics, approximately 58,000 jobs were added monthly to the healthcare industry in 2023, with an additional 70,000 jobs in January 2024, primarily in hospitals, nursing, and residential care facilities.
Ladders, a job search platform, highlights that many positions offering salaries exceeding $200,000 are within the healthcare field, with family practitioners ranking prominently among them. These professionals, also known as general physicians, family doctors, or physicians, play a critical role in diagnosing and treating patients.
Their responsibilities include conducting tests, analyzing results, updating patient charts, prescribing medication, and recommending specialists. They are also known for counseling patients on preventive measures and maintaining medical discipline.
However, becoming a family practitioner entails years of rigorous education and training, including obtaining a bachelor's degree, attending medical school, and completing a residency program, which can take anywhere from three to nine years before obtaining state licensure.
The journey to becoming a family practitioner is not only academically challenging but also financially demanding. According to the Association of American Medical Colleges, the median cost of attending a four-year medical school in 2024 is approximately $276,006 for public schools and $374,476 for private schools.
This hefty investment underscores the necessity for family practitioners to command high salaries to recoup their educational expenses and maintain financial stability. Moreover, the increasing demand for family practitioners can be attributed in part to America's aging population.
By 2030, an estimated 73 million individuals will be aged 65 or older, necessitating a higher demand for healthcare services, particularly those addressing noncommunicable and chronic conditions.
"As this significant segment of the population grows older, their need for healthcare services, particularly those addressing noncommunicable and chronic conditions, escalates," says John Mullinix, head of growth marketing at Ladders. "This demographic shift necessitates a greater number of compassionate and skilled healthcare professionals to provide the comprehensive care required," he adds.
The healthcare industry, however, is grappling with a shortage of medical professionals, projected to worsen in the coming decade. As per the Association of American Medical Colleges, the United States is expected to face a shortage of 124,000 doctors, further driving up demand and salaries within the healthcare sector.
"I expect health care will remain a top high-paying job for decades to come," says Mullinix.
Various factors contribute to this shortage, including the aging physician population and a disparity in primary care availability across different regions. Furthermore, compared to their international counterparts, U.S. physicians command significantly higher salaries, emphasizing the attractiveness of the medical profession in terms of financial compensation.