This is the job with the fastest-growing pay

Wage-growth in traditionally lower-paying jobs is rebounding from a slowdown in 2017 as a result of the strong economy in 2018.

Photo: Christian Reed via Flickr

If you want your salary to quickly climb, consider choosing a bank job. Bank tellers saw the highest jump in pay with an 8% growth in annual pay, according to Glassdoor’s August Local Pay reports, which analyzed data on 84 professions.

Bank tellers, baristas seeing a boost in pay 

The other jobs that saw the most rapid growth in pay were maintenance worker (7.5%), bartender (6.5%), property manager (6.1%) and financial adviser (6%). The big boost in pay is another sign of a strong economy with unemployment rates dropping to historic lows and minimum wages being increased across cities, Glassdoor suggests.

“Bank teller is one role that saw wage growth slow in 2017, which is a trend experienced by a number of traditionally lower-paying jobs such as barista, bartender, and cashier. Today’s strong labor market and continued demand for workers has translated into improved wages for these workers and for a number of job titles across the income spectrum,” Alison Sullivan, Glassdoor community expert, told Ladders.

As for why financial advisors are seeing a boost in pay? Glassdoor suggests it’s due to a rising stock market, which in turn, leads to more Americans seeking out advice on how to spend their cash. In general, we’re all feeling the gains in pay.

“The annual pace of pay gains has risen steadily since March 2018, reaching last month’s 2.4 percent annual pace,” Glassdoor’s Andrew Chamberlain said. Employees have more leverage now to demand more out of their careers.

When employees feel more secure with their finances, it leads them to feel more secure with leaving their careers. A July Labor Department report found that employees are quitting their careers at the highest rate since 2001.

Monica Torres|is a reporter for Ladders and can be reached at mtorres@theladders.com.