A reader wrote to ask, “Where are the jobs that pay well?”
There are Indiana jobs that pay well and jobs that pay better elsewhere than in Indiana. The problem most often is the worker either has to change occupation or residence (or both) to get those jobs.
If you are typical, that is, if half of all the workers in the state make more than you do and half make less, you are known to statisticians as the median worker. In Indiana, the median worker earned $31,280 in 2011. That was $3,980 less than the median worker in Illinois, the state with the highest median wage among Indiana’s neighbors.
Is it worth nearly $4,000 a year to leave friends and family and move to Illinois? In addition, there is no guarantee that you have the skills or experience to make the median wage in Illinois.
If Illinois does not appeal to you, if you want to go for the big money in the 50 states, then consider Massachusetts ($42,730) or Alaska ($42,960).
However, first you might want to look around the Hoosier Holyland before you go elsewhere. In every state, the median worker’s wages differ greatly by occupation. If you are a cook in a Hoosier fast food restaurant, you know the median wage is $17,690 a year. You might consider becoming a carpenter and enjoying a median wage more than twice what you are currently making flipping burgers. Indiana’s carpenters have skills and experience that you would have to acquire before you could be that median carpenter at $37,970.
If mysteries intrigue you, think about becoming a detective or criminal investigator and enjoy a median wage of $48,150. If you have sadistic tendencies, maybe the job for you is dental hygienist with a median wage of $65,700. But these jobs, and most jobs, require training and experience in addition to talent and determination.
What’s the best-paying occupation in Indiana? We don’t know because the Bureau of Labor Statistics does not report detail above $187,200 per year.
We do know that surgeons, psychiatrists, OB-GYN doctors, and anesthesiologists are in that class. Eleven of the top dozen wage-earning occupations in Indiana were doctors. The doctors practicing internal medicine come in at $173,580, general dentistry paid $10,000 per year less, and all other occupations fell lower on the scale.
All of these are figures for Indiana. Would it pay for the fast food cook or the carpenter to go elsewhere? Vermont offered a median wage of $20,930, or 18 percent greater than does Indiana.
The median wage of a carpenter in Hawaii was $66,980 or $29,010 more than in Indiana.
Some readers have been disturbed that I write often about wages and fail to discuss the cost of living. Hoosiers make less than people elsewhere, these readers argue, because the cost of living in Indiana is lower than elsewhere.
I deny this assertion. As I see it, Indiana has a lower cost of living because Hoosiers have lower wages than workers elsewhere. Housing markets are local, barber shops base their rates on nearby barber shops. Prices set in local markets are determined, in large measure, by the incomes of the customers. Hence, housing and haircuts cost less in Princeton and Portland (IN) than in New York or San Francisco.
Morton Marcus is an independent economist, writer and speaker formerly with the IU Kelley School of Business.
Business
EYE ON THE PIE: Change occupation, residence to find better-paying jobs
- Business
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22-hospital St. Vincent Health cutting jobs
INDIANAPOLIS — One of Indiana’s largest health systems says it’s cutting an undisclosed number of jobs by June 30 because of increasing economic and competitive pressure on the health care industry.
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Duke Energy gives $10K to Wabash Valley Red Cross for Vigo flood relief
Duke Energy is giving $10,000 to the Wabash Valley Red Cross chapter for flood relief from this spring’s heavy rains.
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‘500’ gas stations being sold to Speedway LLC
After several decades in business, the area’s familiar “500” gasoline stations and convenience stores will soon be missing from the roadsides of Vigo and Sullivan counties.
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Business Cents: Customers and companies: Sugar goes further than vinegar
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Naysayers should treat good news as good news
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All mothers appreciate extra help
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Upcoming meetings
The Terre Haute Chamber of Commerce is hosting a health care reform seminar for businesses from 2 to 3:30 p.m. on Tuesday at Old National Insurance at 925 Wabash Ave., suite 200.
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Indiana ranked best place to do business in Midwest
Indiana was ranked as the best place to do business in the Midwest and the fifth best nationwide in a survey of more than 500 chief executives by Chief Executive magazine.
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First Farmers rated among top 100 community banks
First Farmers Bank & Trust of Converse was named one of the 100 top-performing community banks for 2012 by SNL Financial.
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Newsmakers: May 12, 2013
Employer Support of the Guard and Reserve has recognized John Thompson, president of Thompson Thrift Construction, and Paul Thrift, president of Thompson Thrift Development, as “Patriotic Employers.”
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On the Move: May 12, 2013
Stacey Joseph, a realtor in Terre Haute, has earned the Certified Residential Specialist designation by the Council of Residential Specialists, the largest not-for-profit affiliate of the National Association of Realtors.
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Chamber lauds four with Business Recognition Awards
Congratulations to our Business Recognition Awards winners! Our Awards Luncheon at the Meadows Banquet and Conference Center was a great event to wrap up Business Recognition Week, sponsored by Union Hospital. At the Luncheon we recognized four local businesses as the 2012 Business Recognition Award winners:
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ISU students provide detailed grocery analysis
As the National Cooperative Grocers Association makes business decisions in the coming years, the organization likely will take into account an analysis of some of its competitors – about 4,000 of them.
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Construction firm holding grand opening in Marshall on Friday
Construction, H&H LLC is holding a grand opening and Marshall Chamber of Commerce ribbon cutting ceremony on Friday at 812 N. Second St. in Marshall, Ill.
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AP Source: Subaru to expand Indiana plant
Subaru plans to expand its Indiana factory and add workers to build the Impreza small car in 2016, a person briefed on the matter says.
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Transit proposals can prove to be game changers
After baseball, my favorite TV watching is the government channel. Here I can see the local government in action or local government inaction.
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On the Move: May 5, 2013
Melissa Schollaert, RDH, HHP, has been added as a counselor of holistic health and nutrition at The Maple Center for Integrative Health.
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ISU set to offer financial planning program in 2014
When Indiana State University junior Jennifer Groth began scheduling classes last semester, she planned them out by thinking of an academic program the university does not yet offer. Groth will be one of the inaugural students in the financial planning program that ISU will begin to offer in spring 2014.
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Newsmaker: May 5, 2013
Gov. Mike Pence announced the appointment of Jessica Robertson to commissioner of the Indiana Department of Administration, a role she will begin on Wednesday.
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U.S. Postal Service opens village office in Worthington
The U.S. Postal Service officially opened the 40th Village Post Office in the Greater Indiana District on Monday in Worthington.
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How consistent is your business?
There are six areas in which consistency is critical in the majority of companies. Too often, business owners feel as they are “chasing down” rather than “leading it along.” If you can get a high level of consistency with your standards and practices, then your company will benefit.
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Good time to try Spanish online service
Cinco de Mayo is May 5 — a time to celebrate Mexican heritage and pride. Why not join the celebration by visiting Social Security’s Spanish website, where you’ll find a number of useful services and a wealth of information in Spanish.
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First Financial’s net income up 3 percent
First Financial Corp. has announced results for its quarter that ended March 31. The Corp.’s net income increased 3.4 percent to $7.7 million, compared to $7.4 million for the same period of 2012.
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Curtain goes up on new theater owner
The Indiana Theatre in downtown Terre Haute is under new ownership with a new purpose.
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Indiana Theatre SOLD!
The Indiana Theatre at 683 Ohio St. is sold.
Rob Lundstrom, who owns the Copper Bar and Louise’s, took possession of the historic downtown theatre on April 25. -
Higher education completion rates questioned
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Vectren Corp. awards $2.3 million in grants
Vectren Corp. has announced that it awarded more than $2.3 million in 2012 through the Vectren Foundation and corporate contributions.
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Hard work, good attitude produces success
Like clockwork, Indiana State University graduate Joe Evelo regularly provides monthly updates to the first client he signed up when he started his financial investment career more than 35 years ago.
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On the move: April 28, 2013
Old National Bank has promoted Howard Mills to vice president, mortgage loan originator.
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