By Lauren Wanko
Correspondent
New Jersey has long been considered one of the most expensive states to live in, but certain careers pay more than the national average according to CareerCast.com. In some cases as much as $30,000 more.
“A good part of that is the fact that it’s much more expensive to live in New Jersey, especially housing costs,” said Dr. Steven Pressman of Monmouth University.
Job seekers in health care, business and finance industries have also seen an increase in career opportunities in New Jersey this summer, notes the job search portal. Monmouth University’s Dr. Pressman notices that his students are having a much easier time finding jobs in economics and financing.
“The location of the state, its proximity to New York City, the financial capital of the country, and probably the world, means that jobs are going to be a whole lot more available in the finance sector,” Pressman said.
Some of the best jobs in New Jersey for 2014, according to CareerCast.com, include actuaries. The Garden State’s average annual wages exceed the national average by almost $12,000 and an industrial production manager’s average annual wage is the second highest in the nation.
“It’s really all location, location, location,” said Pressman. “Just like real estate, and it really is real estate. People want to live in a nice area and they’re willing to pay for it. Part of the way you pay for it is you get paid a little more, but your standard of living is lower.”
Pressman says since it all comes down to real estate, he’s not surprised the state’s average for a loan officer surpasses the national by almost $20,000. In regard to health care, a medical and health services manager makes more than $114,000 a year.
“We are an area where there are very heavy health care industries, so it’s not surprising that health care will be doing well and with the aging population — the baby boomers — health care is going to be one of the booming industries in the next couple of decades,” Pressman said.
When it comes to education, school administrators bring home more than $124,000. Pressman says that salary is a reflection of the fact that it’s more expensive to live in New Jersey than other states.
“The school administrator job is pretty much the same everywhere in the country — you do the same thing. But to get a good administrator, you have to pay them and it’s not just the dollars, it’s the standard of living,” said Pressman.
In order for New Jersey to maintain its edge in these particular jobs, Pressman says the Garden State must continue to focus on quality transportation into the major cities, the education system and overall quality of life to continue to attract people to the Garden State.