Statistics reveal salary winners, losers

Although many workers’ pay grows marginally from year to year, those in a handful of professions have seen some hefty increases and jarring drops in compensation, according to data collected by the federal Bureau of Labor Statistics.

Among the biggest gainers were physician’s assistants, who saw their pay jump 23 percent from 2001 to last year, improving to $53,700. Other professions experiencing sizable salary increases included agricultural engineers, whose salaries increased by $10,036; purchasing managers, with an $8,372 rise; archivists and curators, up $7,020; and authors, up $5,928.

The salary data were analyzed by Challenger, Gray & Christmas, the outplacement and research firm.

On the other end of the paycheck were law instructors. That group saw its income drop on average by $16,000.

Other positions related to business also saw decreases: economists, whose salaries fell by $5,148; public relations specialists, down $3,328 and financial planners, off $2,236.

Investing

Survey indicates lack of financial knowledge

Young adults are generally optimistic about their financial futures, although not even a quarter say they have a good understanding of how to invest in stocks or mutual funds, according to a poll of nearly 1,000 young people.

Additionally, only a third are comfortable taking financial risks for possible gain and not even half pay off their credit card balances monthly.

This apparent contradiction between future financial expectations and current practices is from a study of young adults ages 18 to 29 by State Farm Insurance. The Bloomington, Ill.-based company concluded that many people in this group are suffering from a lack of basic financial education.

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