Highest-Paying White-Collar Jobs

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No. 1: Commercial Lending Director

When housing was hot, everyone in the industry, from home builders to mortgage lenders, reaped the benefits. Paydays were rich, and more and more job seekers flooded the business for a piece of the pie.

Those days are gone, and so are the fat paychecks.

In a look at compensation over the past five years for 27 senior management job titles across 11 U.S. industries, mortgage-lending directors have had the hardest reality check. Their earnings were down 6.3% in the last five years to $101,400 in 2008. They are the only group in the survey to see a decline.

This was expected even before the U.S. housing bubble burst in 2006, according to Ed Buchser, president of Pine Brook, N.J.-based Atlantic Home Loans. He says the run-up in house prices caused "ridiculous increases in compensation." He sees a return to the norm. "People that jumped into the industry are finding that the industry doesn't support them anymore," he says.

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No. 2: Development Officer

The data, provided by Olathe, Kan.-based Compdata Surveys, shows that salaries for senior managers at public and private U.S. companies rose an average 5% in 2008 to $98,700 from last year.

Compdata has collected U.S. executive-compensation figures each year for almost a decade from 25,000 executives at 5,300 companies across 39 states. Forbes.com reviewed the salary totals for white-collar jobs a rung below C-level on the corporate ladder.

Among these top white-collar jobs, finance directors saw their salaries increase the most among white-collar workers over the past five years, up 29.5% to an average $106,700 a year. Marketing directors also prospered better than most, showing salary growth of 23% over that period to an average $103,300 in 2008.

They may not be smiling for much longer.

Dane Sinn, manager of survey operations at Compdata, says healthy consumer spending over the last five years spurred demand for finance and marketing gigs. The competition grew fierce and paychecks swelled.

"In the coming year, it will be interesting to see how pay will be affected for these positions," Sinn says. "We have not yet experienced the full effects of the credit crisis."

Commercial lending directors, responsible for building and managing loan portfolios, could also see a big drop in pay next year. They were the highest-paid group in 2008, earning an average $130,000. Their salaries have shown 12% growth over the five years. Human resources managers have had it a lot worse with just 3% growth. Their average annual salary in 2008 is $71,500.

Others will experience the same fate. According to Compdata, real estate and construction and financial services are among the highest-paying industries. They also happen to be the hardest hit by the economic downturn. For all occupations, real estate and construction paid an average salary of $100,400 this year, while financial services jobs paid an average $98,700 a year.

Says Sinn, "There will most likely be decreased demand for these positions."

Top 5 Highest-Paying White-Collar Jobs

No. 1: Commercial Lending Director
2008 salary: $130,400
Description: Manages and builds loan portfolio. Develops credit policies and ensures policy compliance. Promotes bank products and services for commercial clients. May report to chief lending officer.
Five-year salary increase: 12%

No. 2: Development Officer
2008 salary: $121,900
Description: Plans, directs and implements capital fundraising and deferred gift programs. Presents proposals to prospective donors, corporations and foundations.
Highest-paying industry: Health care
Five-year salary increase: 16%

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No. 3: General Manager

No. 3: General Manager
2008 salary: $121,500
Description: Formulates policies and plans the use of materials and human resources. Responsible for overall strategic planning and direction of the company.
Five-year salary increase: Not available

No. 4: Engineering Director
2008 Salary: $113,000
Description: Provides direction on design and development activities to improve, modify or design new equipment and processes. Oversees performance reports, data and analysis. Reports to top engineering executive.
Five-year salary increase: 15.3%

No. 5: Director of Operations
2008 salary: $112,000
Description: Manages all local operation processes in all aspects of operations, such as value-added service, planning and development, customer services, inventory, liquidations, facility security and staff supervision.
Five-year salary increase: Not available

See more of the top-paying white-collar jobs