For the first time in over four years, the demand for workers in the Washington, D.C. area grew at a faster pace than other areas of the country.
The outlook appears to be very bright for the job market in the DC area. The data also suggests that for those who are looking to change careers, or students looking for a course of study in college, the technology industry shows promise of being a major employer in the area.
In fact, several reports seem to confirm that for every ten job openings in DC, at least five of them are computer related. There will be high-tech jobs for software developers and information security analysts. The other ten jobs were in industries like sales and healthcare. All of these jobs are high paying, offer benefits, and have room for advancement.
The median salary for these high-tech jobs is over $100,000 per year. This is compared to 2015 when the average income in Washington, DC was an approximate $65,000.
How to Sustain the Job Market in DC
Experts have warned that the only way to keep the job market in DC sustainable is to create jobs that are not reliant on the federal job market. Currently, over 40 percent of the workforce in Washington, DC is employed by the government. Analysts have suggested that the job market needs to be more diversified.
There is one industry that is showing signs of growth, and that is the exporting of high tech services. Examples of jobs in this sector are cyber security and biotech.
Currently, almost 6 percent of the economy in DC is based on exports. Experts have stated that by increasing that percentage to 10 percent, the economy could add an extra $3 billion annually.
The Major Job Sectors in DC
These are the major job sectors in Washington, DC. These are based on the average annual pay in the area. These sectors include average yearly salaries as follows:
- Management – $130,000
- Legal – $128,000
- Mathematical and Computer Science – $97,000
- Engineering and Architectural Design – $96,000
- Social Science, Physical Science, and Life Science – $91,000
- Technical and Healthcare – $86,000
- Finance and Business – $86,000
- Entertainment, Sports, and Art – $70,000
Highest Paying Jobs In DC
If you are currently seeking a job in the present DC job market, you are in luck. As technology continues to advance, significant job growth will accelerate in several industries.
Surgeon’s, OB/GYN’s, and other physicians start off the list with an average salary between $150,000 and $240,000. Lawyers and engineers are the next highest paid professionals with average salaries between $100,000 and $150,000.
Finance managers, sales managers, engineering managers and systems managers are other fields that not only pay high salaries but are also in demand. The salary range in these sectors is between $135,000 to $140,000.
Social workers, teachers, psychologists and financial advisors all have average salaries of $100,000.
In previous years, the federal government was the primary employer in the Washington, D.C. area. However, other industries are entering the market to diversify the economy. These industries have become in demand as the workforce transitions globally.