In this article, we will talk about the 23 high-paying trade and vocational jobs in 2023. We will also discuss an in-depth analysis of the global construction market along with its relevance to trade jobs. If you want to skip our detailed analysis, head straight to the 5 High Paying Trade and Vocational Jobs in 2023.
In 2023, the conventional wisdom that a traditional four-year college education is the only gateway to a prosperous career has been challenged. Today, there is a growing recognition that trade and vocational jobs, long overshadowed by their white-collar counterparts, offer not only stable employment but also lucrative opportunities. It is worth mentioning that a fair number of the jobs from our list of high-paying trade and vocational jobs fall under the industry of construction. The industry relies heavily on specialized knowledge and training and hence is largely labor-intensive in nature.
According to Research and Markets, the global construction market has an estimated worth of $10.54 trillion in 2023 and is projected to increase to $16.14 trillion by 2028 with a CAGR of 8.9%. Mostly, factors like an increasing demand for luxury homes and infrastructure in emerging economies, and rising investments in renewable energy infrastructure are driving this growth.
Nevertheless, the industry is also facing challenges stemming from concerns about health and safety measures, sustainability, and the volatility of raw material prices. To navigate these challenges successfully, market players need to be nimble and innovative.
As a result of the promising performance of the industry, Caterpillar Inc (NYSE:CAT), one of the key players in the industry, reported sales and revenues of $17.3 billion with a 22% increase from the same period in 2022. The operating profit margin also saw a fair improvement with 21.1%, compared to 13.6% in Q2 2022. Adjusted operating profit margin, which excludes restructuring costs, stood at 21.3% with a notable increase from the previous year’s 13.8%. These improvements also translated into a considerable rise in profit per share for Caterpillar Inc (NYSE:CAT), with Q2 2023 reporting $5.67 per share. Adjusted profit per share, excluding restructuring costs and a discrete tax benefit, was $5.55, up from $3.18 in the same quarter of the previous year.
Moreover, in 2022, the Caterpillar Inc (NYSE:CAT) reported sales and revenues of $59.4 billion. With a legacy spanning nearly a century, Caterpillar Inc (NYSE:CAT) has been instrumental in helping customers build a better and more sustainable world.
Caterpillar Inc (NYSE:CAT) is aslo actively developing battery-electric prototypes like the Cat 301.9 mini excavator to support climate-related objectives with reduced carbon emissions. Moreover, their remanufactured Cat C9 engines provides a like-new performance at a fraction of the cost. Caterpillar’s expansive presence, with manufacturing facilities across the globe and approximately 48,000 US employees, positions it as a key contributor to the United States’ infrastructure.
Caterpillar Inc (NYSE:CAT)’s development of battery-electric prototypes and remanufactured engines will drive demand for specialized technicians and engineers with expertise in electric vehicle technology and sustainable energy systems. This can include roles such as battery technicians, electric vehicle mechanics, and sustainability engineers.
On the other hand, Fluor Corp (NYSE:FLR) is playing an equally pertinent role in the heavy construction industry through its involvement in major infrastructure projects. As evidenced by its $550 million contract for the Capital Express South project in Austin, Texas, Fluor Corp (NYSE:FLR) is actively addressing critical infrastructure needs in response to population growth and traffic congestion.
The project aims to improve mobility and safety, with the construction of non-tolled high-occupancy vehicle lanes, bridges, pedestrian and bicycle paths, and different safety improvements. Fluor Corp (NYSE:FLR) has adopted different innovative technologies like intelligent transportation systems and smart work zones that highlight its vision for improving public safety and traffic management during construction.
It is worth noting that Fluor Corp (NYSE:FLR)’s recent contracts add up to almost $1 billion. These contracts also include a $487 million biotech expansion project in Denmark and a $574 million life sciences production facility in the US. The company has demonstrated expertise in the domains of engineering, procurement, and construction services, particularly in the life sciences sector for over 40 years. Fluor Corp (NYSE:FLR)’s projects not only boost infrastructure but also aid in meeting the growing demand for new medicines. Infact, its work with Mitsubishi Chemical Group in the UK involves expanding production capacity by 21,000 t/a.
Fluor Corp (NYSE:FLR)’s infrastructure projects, particularly the Capital Express South project, will require a large number of construction-related vocations such as construction workers, civil engineers, and infrastructure specialists. In the biotech and life sciences sector, Fluor Corp (NYSE:FLR)’s contracts will create opportunities for biotech engineers, pharmaceutical technicians, and lab specialists.
Are Trading Jobs Profitable in 2023?
We believe that jobs in 2023 are definitely profitable, with some fun trade school jobs that offer high salaries like electricians, plumbers, and welders who can easily command salaries of $100,000 or more due to a shortage of skilled workers. However, salaries above $100K usually come after years of experience, a technical skillset, and sometimes a good number of certifications. Licensed Nurse Practitioner and Air Traffic Controller are two of the trade jobs that pay $100,000.
It is also crucial to note that the profitability of trading jobs can fluctuate based on economic conditions and market trends, so staying informed and adaptable remains key to long-term success in this field. Currently, wind turbine technician is one of the popular skilled trade jobs in demand.
Methodology
After conducting thorough internet research, we identified 40 high-paying trade and vocational jobs in 2023 that specifically required a maximum educational level of a high school diploma or an associate degree, without the need for formal education or prior experience to work. Subsequently, we narrowed down this list to the top 23 highest-paying jobs. To establish their ranking, we acquired the salary data provided by the Bureau of Labor Statistics (BLS).
Here is a list of high-paying trade and vocational jobs in 2023
23. Computer User Support Specialist
Average Salary: $61,580
A computer support specialist provides technical assistance to individuals or organizations and and resolves computer-related issues. They are typically hired by IT companies, corporations, government agencies, and educational institutions. It is one of the easy trades that pay well.
22. Paralegal and Legal Assistant
Average Salary: $62,840
Paralegals and legal assistants help lawyers as they conduct legal research, draft documents, and sometimes manage administrative tasks as well. They work for law firms, corporate legal departments, government agencies, and non-profit organizations. It is one of the high-paying trade and vocational jobs in 2023.
21. Telecommunications Technician
Average Salary: $64,280
Telecommunication technicians install, maintain, and repair communication equipment and networks, such as telephone systems, data cables, and internet infrastructure. Their job is to ensure reliable and efficient communication services for businesses and individuals. It is one of the highest-paid trade jobs in 2023.
20. Ironworker
Average Salary: $64,800
Ironworkers play a pertinent role in constructing buildings and infrastructure by installing structural steel components as well as ensuring safety and stability.
19. Plumbers
Average Salary: $65,190
Plumbers provide essential services to ensure clean water supply and sewage disposal that helps safeguard public health and sanitation. It is one of the highest-paying trade jobs without a degree.
18. Electrician
Average Salary: $65,280
Electricians require skills and expertise as they work with complex electrical systems to provide safety and functionality. Their knowledge of wiring, circuits, and codes is crucial to prevent hazards and provide reliable power for homes and businesses. It is also one of the part-time retirement jobs that pay well.
17. Boilermaker
Average Salary: $69,780
Boilermakers have specialized skills and expertise to construct and repair boilers and pressure vessels. Skills like Precise welding and fabrication, along with knowledge of materials are essential to have for this role.
16. Construction and Building Inspector
Average Salary: $70,130
Construction and building inspectors require in-depth knowledge of construction codes as well as strong attention to detail. They are typically employed by government agencies or as independent consultants to ensure construction projects comply with regulations. It is one of the high paying trade and vocational jobs in 2023.
15. Electronic Engineering Technician
Average Salary: $70,810
Electronic engineering technician has unbeatable proficiency in electronics, troubleshooting, and soldering. With a profound understanding of electrical circuits and equipment, they usually work in the industries of electronics manufacturing, telecommunications, and aerospace. It is one of the high-paying trade jobs without a degree.
14. Aircraft Mechanic
Average Salary: $72,640
Aircraft mechanics inspect, repair, and maintain aircraft so they need strong mechanical skills, attention to detail, and extensive training for this role. The job can be challenging due to strict safety regulations and complex systems.
13. Respiratory Therapist
Average Salary: $74,310
Respiratory therapists assess and treat patients with breathing disorders. They require knowledge of respiratory equipment as well as critical thinking.
12. MRI Technologist
Average Salary: $81,530
MRI technologists operate MRI machines to create detailed images of patients’ internal structures. They need technical proficiency and knowledge of anatomy. The job can also be demanding owing to their long hours.
11. Electrical Lineman
Average Salary: $82,770
Electrical linemen need both physical strength and safety training to do their job. The job can be hazardous, especially during adverse weather conditions. Despite the challenges, it is one of the highest paying trade and vocational jobs in the US.
Click here to see the 10 High Paying Trade and Vocational Jobs in 2023.
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Disclosure: 23 High Paying Trade and Vocational Jobs in 2023 is originally published on Insider Monkey.