NASHVILLE, Tenn. (WKRN) — We all have heard the saying: ‘money doesn’t grow on trees,’ but one thing growing in Nashville is the number of high-paying jobs.
A new report from “Stessa” found the Nashville metropolitan area experienced a 270.9% increase in six-figure jobs between 2015 and 2020, while the U.S. on average saw a 110.0% increase.
“Nobody can really pin down the exact reason why Nashville, in particular, is seeing such a large increase in wages,” Chris Cannon said with the Tennessee Department of Labor and Workforce Development. “You do need to keep in mind we’re seeing a lot of companies moving from the coast, NYC, California and they’re coming here to the Nashville area, and they’re most likely bringing their wages with them.”
Here is a summary of Stessa’s data for the Nashville-Davidson–Murfreesboro–Franklin, TN metro area:
- Percentage change in six-figure jobs (2015–2020): +270.9%
- Percentage of total employment in six-figure jobs (2020): 5.6%
- Total employment in six-figure jobs (2020): 53,820
- Total employment in six-figure jobs (2015): 14,510
- Median annual wage across all occupations (2020): $40,650
According to the Department of Labor and Workforce development, the highest median annual wages in 2020 in Tennessee were as follows:
“Health care is always a big industry in Tennessee because it’s the largest industry, and particularly in Nashville, we have the biggest hospitals in the state, and they need help right now,” Cannon said.
Another field likely contributing to the rising wages is our fast-growing tech sector, with software developers and computer and information systems managers.
Currently, there are more than 547,000 job openings in Tennessee, 32,000 of which are in Davidson County where the average weekly wage sits around $1,400.
“If you’re looking for a job right now or looking to switch your job, this is the time to do it because employers really need the help right now, and they’re doing things they haven’t done before to get people in the door and to find quality workers to come to their companies,” Cannon said.
Head to Jobs4TN.Gov and you can search job openings by price point. There are currently more than 3,000 job openings listed with a salary over $100,000 — many of them in healthcare.