Despite having to overcome laborious challenges amid a lingering pandemic, Austin workers continue to rake in the dough, with one new study finding the city more than doubled its number of six-figure jobs in five years.
From 2015 to 2020, Austin experienced a stunning 101.1 percent jump in the number of six-figure jobs, according to a new study from Stessa, a provider of property management software for landlords.
The Austin-Round Rock area ranks in the No. 15 spot among major U.S. metros for the percentage increase in six-figure jobs during that time frame.
Last year, 7.6 percent of jobs in the Austin area brought in at least $100,000 annually. That means some 80,560 working Austinites drew a six-figure salary in 2020.
Throughout the metro area, the median annual pay across all occupations stands at $44,020.
Nationally, professions that often draw at least $100,000 a year include software developer, attorney, sales manager, pharmacist, and nurse practitioner, according to the study.
“One of the COVID-19 pandemic’s most significant long-term effects on the economy could be rising wages,” the study says. “With widespread shortages in the labor market reported this summer, many employers — particularly those with lower-wage employees — have tried to entice workers with improved compensation and benefits. These trends have led to the fastest rates of wage growth since the Great Recession, especially among the lowest earners.”
Among large metro areas, Nashville ranks first for the growth of six-figure jobs from 2015 to 2020, at 270.9 percent.
Looking at major metro areas in Texas, San Antonio claims the highest ranking for growth in six-figure jobs: No. 7. From 2015 to 2020, the share of six-figure jobs in the San Antonio area went up by 163 percent. Last year, 5.7 percent of jobs in San Antonio pulled in at least $100,000 annually.
DFW ranks 26th, with a 60 percent rise in six-figure jobs during the time period, 8.5 percent of workers earning six-figure salaries, the study says.
Houston ranks 46th among major metros for the five-year change in six-figure jobs, at 21.9 percent. In the region, 8.8 percent of jobs pay at least $100,000 a year. That’s the highest percentage among the four major metros in Texas.