The Highest-Paying Industries in Oregon: Six Industries that Offer Six Figure IncomesDecember 20, 2017 The average annual wage in Oregon in 2016 was $49,467. However, a handful of large industries pay about twice that much to their employees. These are sectors of the economy where businesses pay very well and employ workers with a high level of technical skills. Experience in software development, semiconductor manufacturing, financial management, or utility maintenance can lead to a lucrative career in Oregon.
High wages are not the only thing these firms have to offer. All of these industries have enjoyed job growth in Oregon over the last seven years, though the utilities, high-tech manufacturing, and financial industries have grown relatively slowly, while the software and management of companies sectors have experienced rapid job growth.
Whether it’s high tech, high finance, or high-power electrical transformers, these are the industries in Oregon that offer the highest wages.
Software and Computer Systems Design
There are two related industries that have enjoyed the fastest job growth among high wage sectors: software and computer systems design. The 27,900 workers in these industries earned an average mean wage of $103,445 in 2016.
The bulk of the employment here is in occupations with high annual wages: software developers ($99,670), database administrators ($84,540), and computer programmers ($77,780). Some of the higher-wage occupations include computer network architects ($121,250) and information research scientists ($154,220).
Perhaps the most remarkable thing about this sector is its rapid employment growth. From 2010 to 2017, employment grew by an impressive 46 percent in Oregon. It’s also worth noting that 60 percent of employment here is in just two Portland area counties – Multnomah and Washington.
There are 8,920 workers employed at one of the more than 400 utilities in Oregon. In 2016, these workers earned an average wage of $87,456. Most of these utilities are small and publicly owned. Some of the larger utilities in Oregon include: Portland General Electric, Northwest Natural Gas, and the Bonneville Power Administration.
About half of all employment in Oregon utilities is in private-sector firms with the rest in federal and local government. The private side of the utility sector is growing relatively slowly in Oregon with a gain of just 300 jobs in the last seven years. The represents a growth rate of less than half of the overall Oregon economy.
Maintaining utility infrastructure requires highly technical skills. Some of the most common occupations in utilities pay high annual wages to folks with the appropriate skills: electrical power-line installers and repairers ($89,300), power plant operators ($74,570), electrical engineers ($92,380), and electrical and electronics repairers, powerhouse, substation, and relay ($83,990).
Semiconductor and Electronic Components
Oregon is home to the famous “Silicon Forest.” Here, 38,000 workers earn an average wage of $142,020 a year working in one of the semiconductor and electronic component manufacturers. The majority of the employment in Oregon is in Washington County.
There are more than 100 high-tech manufacturers in this sector. These companies include some world-famous brands: Intel, Tektronix, Oracle, HP, and FLIR along with many others. Though this is a large industry, growth has been slow over the last few years, with just 6 percent employment growth from 2010 to 2017.
The high-tech manufacturing industry employs a range of workers who design, engineer, and produce cutting edge products that apply the latest scientific discoveries. Some of the most common occupations in the semiconductor and electronic components manufacturing industry include: electrical and electronic equipment assemblers ($36,050), semiconductor processors ($36,680), electronics engineers ($95,340), and software developers ($99,670).
Electronic Markets and Agents and Brokers
Wholesale electronic markets and agents and brokers are firms that arrange for the sale of goods owned by others, generally on a fee or commission basis. They act on behalf of the buyers and sellers of goods. This includes agents and brokers as well as business-to-business markets that facilitate wholesale trade. In Oregon, these are mostly small firms, with the large majority having fewer than 10 employees. Several of these firms trade wood products.
This sector employs 14,199 Oregonians earning an average annual wage of $91,913. More than half of those working in Oregon are in the Portland area. Though this industry pays well, Oregon has seen relatively slow growth with just 500 new jobs created from 2010 to 2017.
The most common occupations in this industry are related to sales and finance: sales representatives, wholesale and manufacturing, except technical and scientific products ($65,540); sales representatives, wholesale and manufacturing, technical and scientific products ($85,300); sales managers ($117,700); and financial specialists ($74,850).
Securities, Commodity Contracts, and Other Financial Investments
Industries in the securities, commodity contracts, and other financial investments and related activities group are establishments that are primarily engaged in one of the following: underwriting securities issues or making markets for securities and commodities; acting as brokers between buyers and sellers of securities and commodities; providing securities and commodity exchange services; or providing other services, such as managing portfolios of assets; providing investment advice; and trust, fiduciary, and custody services.
There are more than 1,000 of these firms in Oregon, employing 5,625 workers. Though a relatively small industry, the average wage in 2016 was an impressive $124,033 a year. Job growth has been moderately strong in the past few years, growing by 21 percent from 2010 to 2017. Some of the best known firms in Oregon in this sector are major financial firms with branches in Oregon: Merrill Lynch, Morgan Stanley, Edward Jones, and Wachovia. There are also some local investment firms and public pension management companies included.
Managing lots of money, not surprisingly, pays pretty well. Common occupations include: managing and securities, commodities, and financial services sales agents ($72,520); personal financial advisors ($113,830); financial analysts ($89,840); and brokerage clerks ($51,160).
Management of Companies
The management of companies sector includes establishments that hold the securities of companies and enterprises for the purpose of owning a controlling interest or influencing management decisions; or establishments that administer, oversee, and manage establishments of the company or enterprise and that normally undertake the strategic or organizational planning and decision making role of the company or enterprise. Establishments in this sector perform essential activities that are often undertaken, in-house, by establishments in many sectors of the economy. By consolidating the performance of these activities of the enterprise at one establishment, economies of scale are achieved.
The sector includes some of the most famous companies in Oregon. These are firms that require highly skilled talent to manage corporate operations. Some of these companies have a national or even international brand that is based in Oregon including: Nike, Daimler Trucks, Columbia Sportswear, Kroger, Stash Tea, Dutch Brothers, and McMenamins. This is a large and fast growing industry. More than 47,000 people worked in this sector in Oregon, which grew by an impressive 35 percent in the past seven years.
This industry employs lots of folks with the technical skills necessary to manage a company, with occupations relating to finance, logistics, and software. Occupations such as: accountants and auditors ($67,010); bookkeeping, accounting, and auditing clerks ($39,730); financial managers ($116,110); and computer systems analysts ($87,290).