In the Seattle metro area, the number of people earning six-figure salaries increased by 32.7% during the last five years, according to a new report from Stessa.
The number of people earning six-figure salaries jumped from 208,550 in 2015 to 276,660 in 2020, the report said. That 2020 figure represents 14.1% of total employment in the metro area, the report said.
The median wage in Seattle across all occupations is $58,330.
While those figures may seem surprising, Seattle’s increase in six-figure salaries over the last five years pales in comparison to the total increase in such jobs across the U.S. The report said the nation saw an eye-popping 110% increase in the number of jobs offering six-figure salaries between 2015 and 2020.
During that time period, the number of people earning six figures jumped from 5.2 million to 11 million, the report said. That figure represents 7.9% of all employees in the U.S. The median wage across the nation in all occupations is $41,950.
The highest growth — 270% — was observed in the Nashville area of Tennessee. The number of people earning six-figure salaries there in 2020 was 53,820, up from just 14,510 people in 2015.
As for what fueled the growth, the report points to two possible solutions. First, employers are trying to entice more workers with higher salaries given the extensive labor shortages facing multiple industries in the wake of the COVID-19 pandemic. And second, a sharp increase in the number high-paying tech jobs in U.S.
That second idea seems plausible. Another recent report found the average salary earned by tech workers in the U.S. is $152,000, while tech workers in San Francisco, Seattle and New York City earn already higher salaries on average.
Nationwide, the most shared locaiongs that come with six-figure salaries — according to the report — are general and operations managers, software developers and lawyers.
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