As the pandemic continues to accelerate wage growth for many workers, a new study is shedding light on just how prevalent six-figure job growth has been over the past five years in cities across the country.
According to the study published by Stessa, the Nashville region had a 270.9% increase in six-figure jobs from 2015 to 2020 — the largest percentage increase among the country’s large metros.
The area was ranked No. 1 in a list of large metros with the most growth in high-paying jobs over the last half decade.
Fifty-three thousand eight hundred twenty workers — or 5.6% of the metro area’s workforce — brought in six-figure salaries in 2020. That’s slightly under the national 7.9% of workers making $100,000 or more.
In 2015, only 14,510 workers in Greater Nashville boasted those salaries.
Nashville has seen a continued stream of companies move their headquarters to Music City in recent years, bringing high-earners and decision-makers to the region.
As professional salaries have increased, wage growth for lower earners failed to keep up a similar percentage pace. The median wage for Nashvillians in 2020 was just $40,650.
Nationally, the U.S saw a 110% increase in six-figure jobs from 2015 to 2020.
The Greater Nashville, Pheonix and Las Vegas areas nabbed the top three spots for percentage growth. The New Orleans, Tuscon and San Bernadino metro areas also made the top 15, showing the continued success of large job markets in the Sun Belt.
Stessa used data from the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics tables. Ranking were determined by calculating the percentage change in employment in six-figure jobs from 2015 to 2020, and checked for statistical significance.