Six-figure jobs surged in the second quarter. Here's where to find them.
St. Louis Business Journal
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High-paying remote jobs have tumbled in recent months after hitting a high during the Covid-19 pandemic.
But new data suggests that decline may have hit the floor — and six-figure jobs overall are surging despite the softening labor market.
An analysis of half a million job postings on Ladders.com between April and June found the share of six-figure remote jobs grew about 7% in the second quarter compared to the prior three-month period — accounting for 9% of the $100,000-per-year jobs available.
Still, Mullinix said high-paying remote work in 2024 isn't anywhere near the level it's been in recent years.
“Even with this quarter-over-quarter growth, we aren’t even close to the numbers we saw last year, when there were double the remote and hybrid opportunities,” Mullinix said.
In-office six-figure jobs still dominate the landscape, accounting for about 88.26% of high-paying roles on Ladders.
“The freefall in remote and hybrid opportunities stalled in Q2," said Ladders Director of Growth Marketing John Mullinix, who led the research team. "While many outspoken CEOs have demanded workers return to the office, the data shows some relented and gave employees what they wanted."
Surge in six-figure jobs overall
The number of total six-figure jobs jumped by 20% in the second quarter of 2024, according to the Ladders data. That's a sign of an economy on the rebound and new investment in growth by businesses that require higher-paid roles.
“With inflation on the rise, businesses are adjusting wages to attract and retain top talent, especially in specialized fields like tech, health care and engineering,” Mullinix said. “Industry growth in sectors like tech, finance and health care also plays a big part, as these areas continue to boom. Additionally, increased investments in technology and sustainability are creating demand for skilled professionals, often with higher salaries.”
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Much of the growth in high-paying job postings is being driven by health care. Physician-assistant jobs surged 550% over the last quarter and nurse-practitioner positions grew by 260%.
“The ongoing health-care demands of an aging population and the aftermath of Covid-19 have heightened the need for physician assistants and nurse practitioners," Mullinix said. "With a shortage of primary care physicians, these roles are essential to filling the gap. Additionally, expanded scopes of practice, cost efficiency, the rise of telehealth and a focus on preventative care are making these roles more integral to health-care teams."
High-paying jobs by industry
Here's how the number of high-paying jobs changed between the first and second quarters by industry:
The top companies for six-figure jobs in the second quarter were:
Remote work continues to remain a top desire among job applicants. A recent ZipRecruiter Inc. survey found 74.5% of job seekers supported remote work.
Meanwhile, companies are shelling out less for raises in 2024 than they did last year, and projections for pay hikes in the future are dropping, too. About 47% of American companies surveyed by advisory and consulting firm WTW said their salary budgets for 2024 are lower than the previous year, with the median pay raise dropping from 4.5% in 2023 to 4.1% this year.
The drop in salary budgets comes as the labor market has cooled substantially. Just 38% of employers said they had trouble attracting and retaining talent, down from 57% just a year ago, according to the WTW survey.