Money
Visualizing the Ranking of 100 Common Careers
If you’re like most Americans, you probably spend more than 40 hours a week on the job.
For this reason, your career of choice plays a big role in determining your overall well-being. Not only does your profession have a massive influence on the potential money you make, but it also impacts your stress, work-life balance, happiness, and feeling of accomplishment.
However, it’s well-known that not all careers are created equally – and while some are stress-free with comfortable salaries, others can be high-stress without the compensation to make up for it.
Ranked: 100 Common Careers
Today’s chart uses data from the 2018 Jobs Rated Report by CareerCast.com, and we’ve used it to rank 100 of the most common careers based on median income, as well as three other categories: stress, growth outlook, and workplace environment.
The careers at the top of the list below have the best aggregate score, while the jobs towards the end of the list tend to be high-stress, low-income.
The 2018 Jobs Rated Report uses median income, as well as three other key categories to compile its rankings of common careers:
- Workplace:
A score based on the relative physical and mental demands for the job - Stress:
A weighting of 11 different stress factors, which range from “deadlines” to “own life at risk” - Growth Outlook:
Factors such as employment growth, income growth potential, and unemployment
See the full methodology here, for a more detailed explanation of the above categories.
Choosing the Optimal Career
If your goal is to maximize income, then traditional high-paying careers – like being a lawyer, doctor, investment banker, or senior corporate executive – are a good way to go.
For many people, however, a good career is defined as being more than just having high earning potential. Ideally, it’s also low-stress, while providing a healthy workplace that makes workers look forward to their jobs every day.
For people that think that way, it seems like being a pharmacist or a data scientist might present the best of both worlds:
At the same time, it may be safe to say that taxi drivers and reporters get the worst of both worlds: high stress and low pay.
Where does your occupation fall on the money/stress spectrum? Do you feel like the ranking above provides an accurate representation of your career?
Personal Finance
Chart: The Declining Value of the U.S. Federal Minimum Wage
This graphic compares the nominal vs. inflation-adjusted value of the U.S. minimum wage, from 1940 to 2023.
The Declining Value of the U.S. Federal Minimum Wage
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
This graphic illustrates the history of the U.S. federal minimum wage using data compiled by Statista, in both nominal and real (inflation-adjusted) terms. The federal minimum wage was raised to $7.25 per hour in July 2009, where it has remained ever since.
Nominal vs. Real Value
The data we used to create this graphic can be found in the table below.
Year | Nominal value ($/hour) | Real value ($/hour) |
---|---|---|
1940 | 0.3 | 6.5 |
1945 | 0.4 | 6.82 |
1950 | 0.75 | 9.64 |
1955 | 0.75 | 8.52 |
1960 | 1 | 10.28 |
1965 | 1.25 | 12.08 |
1970 | 1.6 | 12.61 |
1975 | 2.1 | 12.04 |
1980 | 3.1 | 11.61 |
1985 | 3.35 | 9.51 |
1990 | 3.8 | 8.94 |
1995 | 4.25 | 8.49 |
2000 | 5.15 | 9.12 |
2005 | 5.15 | 8.03 |
2010 | 7.25 | 10.09 |
2015 | 7.25 | 9.3 |
2018 | 7.25 | 8.78 |
2019 | 7.25 | 8.61 |
2020 | 7.25 | 8.58 |
2021 | 7.25 | 8.24 |
2022 | 7.25 | 7.61 |
2023 | 7.25 | 7.25 |
What our graphic shows is how inflation has eroded the real value of the U.S. minimum wage over time, despite nominal increases.
For instance, consider the year 1960, when the federal minimum wage was $1 per hour. After accounting for inflation, this would be worth around $10.28 today!
The two lines converge at 2023 because the nominal and real value are identical in present day terms.
Many States Have Their Own Minimum Wage
According to the National Conference of State Legislatures (NCSL), 30 states and Washington, D.C. have implemented a minimum wage that is higher than $7.25.
The following states have adopted the federal minimum: Georgia, Idaho, Indiana, Iowa, Kansas, Kentucky, New Hampshire, North Carolina, North Dakota, Oklahoma, Pennsylvania, Texas, Utah, Wisconsin, and Wyoming.
Meanwhile, the states of Alabama, Louisiana, Mississippi, South Carolina, and Tennessee have no wage minimums, but have to follow the federal minimum.
How Does the U.S. Minimum Wage Rank Globally?
If you found this topic interesting, check out Mapped: Minimum Wage Around the World to see which countries have the highest minimum wage in monthly terms, as of January 2023.
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