Pay rose 2.4% for workers — but some jobs saw larger gains
They’ll take this to the bank.
Bank tellers saw the biggest percentage jump in pay in the past year — watching salaries grow a full 8% to more than $31,000, according to data on 84 professions released Tuesday by career site Glassdoor. And that’s not the only blue collar job where pay rose quickly. Maintenance workers saw their pay rise 7.5% to $42,487, bartenders up 6.5% to $34,224 and property managers 6.1% to $53,066.
So what’s going on there? “Traditionally lower-paying roles and blue collar jobs see big gains in pay growth as unemployment dips to historic lows,” the Glassdoor report revealed. And Glassdoor’s economist Andrew Chamberlain noted that: “Roles ranging from maintenance worker and bank teller to barista and bartender are seeing big pay gains as the healthy job market translates into more pay across many corners of the labor market.” Plus, in some state and local markets minimum wage rose in 2018, which may be reflected in these numbers.
It’s a trend we’ve been seeing for a few years now, as last year truck drivers saw big bumps in pay.
Financial advisors round out the top five professions with the biggest year-over-year pay growth, with a raise of 6% to $54,622. Glassdoor reveals that that bump came from “Americans sorting out their finances following the federal tax law and a rising stock market.”
On the flip side, automation is driving down wages for many workers. Indeed, network engineers saw their pay dive 6.7% to $64,953, insurance agents down 4.7% to $40,073 and warehouse associates down 2.3% to $39,964.
That’s a trend that’s likely here to stay. Almost half (47%) of the jobs in America could be done by robots in the next 20 years or so, according to research on about 700 jobs from Oxford University. And a study by Forrester Research found that while robots will create roughly 15 million jobs in the U.S. in the next decade, they will eliminate roughly 25 million of them.
In general, workers are making a bit more: Though pay growth slowed last winter, “the annual pace of pay gains has risen steadily since March 2018, reaching last month’s 2.4% annual pace,” Glassdoor revealed; median base pay for full-time workers rose to $52,461 per year in August. And, Glassdoor predicts that the uptick in pay will “continue through the rest of 2018.”
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