Top Ten Most Overpaid Jobs In America

brabus3_wince.jpgAlmost no one in America would admit to being overpaid, but many of us take home bloated paychecks far beyond what we deserve. Below is a list of the 10 most overpaid jobs in the U.S., in reverse order, drafted with input from compensation experts:


10) Wedding photographers: Photographers earn a national average of $1,900 for a wedding, though many charge $2,500 to $5,000 for a one-day shoot. The overpaid ones are the many who admit they only do weddings for the income, while quietly complaining about the hassle of dealing with hysterical brides and drunken reception guests.


9) Major Airline Pilots: While American and United pilots recently took pay cuts, senior captains earn as much as $250,000 a year at Delta, and their counterparts at other major airlines still earn about $150,000 to $215,000. The pilot's unions are the most powerful in the industry. They demand premium pay as if still in the glory days, rather than the cutthroat, deregulated market of under-$200 coast-to-coast roundtrips.


8) West Coast Longshoremen: In early 2002, West Coast ports shut down as the longshoremen's union fought to preserve generous health-care benefits that would make most Americans drool. Next year, West Coast dockworkers will earn an average of $112,000 for handling cargo. Office clerks who log shipping records into computers will earn $136,000. And unionized foremen who oversee the rank-and-file will pull down an average $177,000.


7) Skycaps at Major Airports: Many of the uniformed baggage handlers who check in luggage at curbside at the busiest metro airports pull in $70,000 to $100,000 a year. On top of their salaries, peak earners can take in $300 or more a day in tips. That amounts to a $2 tip from 18 travelers an hour on average. Many tip more than that.


6) Real Estate Agents selling High-End Homes: Anyone who puts in a little effort can pass the test to get a real estate agent's license, which makes the vast sums that luxury-home agents earn stupefying. While most agents hustle tail to earn $60,000 a year, those in affluent areas can pull down $200,000-plus for half the effort.


5) Motivational Speakers and Ex-Politicians on the Lecture Circuit: Corporate trade groups pay astronomical sums to celebrity-types and political has-beens to address their convention audiences. The national convention circuit's shame is that it blows trade-group members' money on orators whose speeches often have been warmed over a dozen times.


4) Orthodontists: For a 35 hour workweek, orthodontists earn a median $350,000 a year. General dentists, meanwhile, earn about half as much working 39 hours a week on average, in a much dirtier job. The difference in their training isn't like that of a heart surgeon vs. a family-practice doctor. It's a mere two years! U.S. dental schools have long been criticized for keeping orthodontists in artificially low supply to keep their income up.


3) CEOs of Poorly Performing Companies: CEOs at chronically unprofitable companies and those forever lagging industry peers stand as the most grossly overpaid. Most know they should resign but they survive because corporate boards that oversee them remain stacked with friends and family members. The ultimate excess comes after they're finally forced out, usually by insiders tired of seeing their own stock holdings plummet.


2) Washed-Up Pro Athletes in Long-Term Contracts: Those who sign whopping, long-term contracts after a few strong years, and then find their talents vanish, who reap unconscionable sums of money. They point to owners as the culprits, yet golf star Tiger Woods and tennis champ Serena Williams earn their keep based on their performance in each tournament.


1) Mutual-Fund Managers: They've been long overpaid. Stock-fund managers can easily earn $500,000 to $1 million a year including bonuses. Now we discover an untold number enriched themselves and favored clients with illegally timed trades of fund shares. That's a worse betrayal of trust than the corporate scandals of recent years, since they're supposed to be on the little person's side.


Source: The Smallcap Market Watch

 
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