Annual median base pay in the United States grew 1%

According to job and recruiting site Glassdoor, the annual median base pay in the United States grew 1.0 percent year over year (YOY) in February 2018 to $51,975. The Glassdoor Local Pay Reports show pay growth is up from a revised 0.6 percent growth last month. Pay growth peaked more than a year ago in January 2017 at a revised 3.4 percent.

The Glassdoor Local Pay Reports provide a unique monthly view into the country’s wage picture with salary estimates for nearly 85 job titles and year-over-year pay growth trends in the United States. The reports include details on 10 major metros: AtlantaBostonChicagoHoustonLos AngelesNew York CityPhiladelphiaSan FranciscoSeattle and Washington, D.C.1

“While we saw wage growth tick up slightly this month to 1.0 percent, it’s still a dramatic plunge from the 3.4 percent peak over a year ago, as pay growth hasn’t yet fully recovered from the 2017 summer slump. However, with our robust economy, healthy labor market and bright spots among e-commerce positions, healthcare, and certain roles in technology and finance, we are likely to see wages rise into this year as employers pull out the stops to fill much needed positions,” said Dr. Andrew Chamberlain, chief economist of Glassdoor.

Finance Wages Up With Nearing Tax Season
Financial advisor roles are seeing wage gains above the national average in February, up 4.4 percent to $54,906, as financial institutions gear up for the looming tax season. Companies such as Bank of America (currently 6,800 open jobs on Glassdoor), Morgan Stanley (1,900 open jobs), and Edward Jones (1,300 open jobs) among many others are hiring as the April filing deadline nears. Other finance jobs such as bank teller (up 4.1 percent $29,398) and claims adjuster (up 3.0 percent to $51,963) are also experiencing notable pay increases.

Taxes and financial security are top of mind for many. The coming tax season has many people considering how the new tax law will impact their fiscal situation next year. In addition, the Bureau of Labor Statistics predicts the demand for financial advisors will grow 15 percent by 2026, as Baby Boomers retire and want to ensure their monetary decisions set them up to enjoy the next phase of their life, and are likely contributors to this demand, notes Chamberlain.

Traditional Tech Roles See Bump in Pay as Others Fall
Median base pay for internet and tech jobs is $52,209, slightly higher than the U.S. median base pay. Several more traditional tech roles are seeing above average pay growth, including network engineer (up 3.6 percent to $71,103), web developer (up 3.2 percent to $65,013) and web designer (up 2.7 percent to $51,709). Companies with large, technical infrastructures like Apple (6,000 open jobs on Glassdoor), Amazon (15,000 open jobs) and Boeing (1,300 open jobs), among others, are looking to fill network engineer roles.

Not all tech roles are seeing wage gains: pay is falling for other positions within the industry, like UX designer (down 1.0 percent to $75,774) and programmer analyst (down 0.8 percent to $68,774).

“We’ve continued to see a steady ebb and flow of wage growth for many technology jobs as companies bump up wages to satisfy demand, seeing those same wages flatten or slow later on as their needs are met. In general, tech workers today should be fluent in a diverse range of coding languages and skills relevant to their technical field, and not lean too heavily into a singular tech specialty,” Chamberlain said.

Pay Slides for Seasonal Roles, Skilled Workers
The biggest declines in YOY pay growth in February included bartender (down 6.8 percent to $29,969), professor (down 2.9 percent to $87,067), maintenance worker (down 2.4 percent to $39,490) and quality engineer (down 2.0 percent to $70,485).

 Jobs with the Fastest Pay Growth

Rank

Job Title

% Wage Growth YoY
(Feb 2017-Feb 2018)

Median Base Pay

1

Delivery Driver

5.4%

$43,771

2

Restaurant Cook

4.6%

$29,034

3

Financial Advisor

4.4%

$54,906

4

Truck Driver

4.4%

$53,932

5

Bank Teller

4.1%

$29,398

6

Medical Technologist

3.9%

$54,582

7

Network Engineer

3.6%

$71,103

8

Attorney

3.4%

$99,270

9

Web Developer

3.2%

$65,013

10

Field Engineer

3.0%

$71,805

For a list of jobs with the biggest pay declines, visit the Glassdoor Economic Research blog.

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