Tuesday, June 3, 2014

The Value of Experience: Top 25 Occupations Where Experience Counts in the Mohawk Valley and New York State

The New York State Department of Labor provides occupational wage data for the state as a whole, as well as each of the labor market regions, like the Mohawk Valley. Employment and wage data by occupation are based on the Occupational Employment Statistics (OES) survey. The OES is a semiannual mail survey of employers that measures occupational employment and occupational wage rates for wage and salary workers in nonfarm establishments, by industry.  OES estimates are constructed from a sample of about 52,000 establishments.  Each year, forms are mailed to two semiannual panels of approximately 8,500 sampled establishments, one panel in May and the other in November.  Estimates are based on responses from six semiannual panels collected over a 3-year period.

Below, I have constructed tables for New York State as well as for the Mohawk Valley (which include Fulton, Herkimer, Montgomery, Oneida, Otsego, and Schoharie Counties). These tables show the top 25 occupations where experience seems to have the greatest relative impact on annual income. This was done by dividing the mean annual salary of entry level positions by the mean annual salary of experienced positions for each occupation. These 25 have the highest ratio of experienced salary to entry level salary.

In essence then, these are the top 25 occupations where experience has the greatest relative impact for the employee.

 New York State Top 25

Click to Enlarge

Mohawk Valley Top 25

Click to Enlarge