Who Makes $200,000 a Year? Here are the highest-earning industries in Philadelphia.

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Who Makes $200k? Here Are the Philly Industries With the Most High Earners

We learned that a startup ecosystem’s health is heavily reliant on local investors ready to take risks on new enterprises and that those investors must reflect the areas seeking growth.

But what does the distribution of that income say about our city?

To become an accredited angel investor, you must earn at least $200,000. So when we looked at statistics behind the high-end incomes in Philly as part of a reporting series on tech professions and mobility, we utilized that amount as the minimum payment. It’s all on GitHub.

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A year ago,63 percent of residents made above $200,000, while in 2019 it was 1.12 percent, or 17,119. The increase is wonderful, but economists caution that it may be accompanied by inflation. Between 2009 and 2019, every group increased their number of persons earning above $200,000, except for Latinx high earners, who almost tripled.

So, where do the rich work?

The industries that produce the most money in 2009 match what we know Philadelphia does well:

Education and medical are two of the top three sectors in Philadelphia, which is fitting considering the region’s renown for both areas. Financial services and computer consulting are two well-paying areas, although they don’t yet comprise the majority of high earners.

Computer systems design is ranked 14th, out of the top 10.

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Those earning over $200,000 in 2019 in Philadelphia include:

2019 brings a change. Legal and IT consulting services had more high earners than in 2009. This is interesting since earlier this year, a local law firm allegedly became Philadelphia’s first to pay first-year associates over $200,000 per year.

Nearly 12% of high earners work in medical, 10.5 % in higher education, and 4.75 % in management, scientific, and technological consulting. On the list of the top 20 industries, computer systems design placed 11th, with 2.1 percent of people earning over $200,000, up from #14 in 2009.

While the IT business is developing in Philadelphia and does have some high earners exceeding $200,000, the bulk of local professionals is likely still earning below this threshold.

A recent poll indicated that IT salaries in Philadelphia and adjacent regions averaged roughly $135,000 per year. Remote employees earned the highest tech wages.