After all, there are more than 500,000 vehicles on the road, so who needs a car to get it all back to the way it was before?
The answer is, the entire automotive industry.
And, according to new research from the company Axios, the industry’s top-paid technicians make more than $150,000 annually.
And if you thought the top earners were the ones who are making money, wait until you hear what the top 10 percent makes.
The top 10% make about $7,800 a year, according the report.
This chart, based on data from the American Automobile Association, shows the top income earners in automotive repair.
Top earners in the repair industryTotal: $150K to $300KSource: American Automobiles AssociationSource: AxiosThe research, based largely on the data from AAA, also revealed the top ten percent earn over $7 million a year.
And guess what?
These are not the same professionals that you see at the top of this list of top earners.
The top ten% of earners are in a different category altogether.
They’re the top 1 percent.
Those top earners in auto repair make $5.7 million, according Axios.
That’s nearly twice the average annual income of the top 0.1 percent.
This makes the top one percent even more valuable to the industry, which has seen an explosion in the number of jobs in the field.
And they’re not alone.
According to the report, the average salary of a maintenance technician is about $50,000 a year and the median salary of one of those jobs is $63,000.
The bottom 20 percent make about 10 times the average earnings for a maintenance tech.
The report also showed that the top 2 percent of earners in repairs earn $14,000 more than the top 5 percent.
And that gap between the two groups has grown so wide that the average hourly wage for a mechanic is $14.49 in the top two groups and $17.60 for the top five.
The reason for the widening gap is a combination of both factors.
One is that there are a lot of mechanics who aren’t working, the other is the way the industry is structured.
The Top 10%Make more than you makeYou know how you can pay more for something you work on?
That’s because of the industrywide salary structure.
The data showed that just 4 percent of the workers who earn more than that make more money than the bottom 20% who make less.
And the top 20 percent of workers, according a study from Credit Suisse, have an average annual salary of $160,000 — more than double the average of the bottom two groups.
So while the top earnings may be good for the industry as a whole, it doesn’t mean that the bottom earners get the same compensation.
The Bottom 20%Make less than you earnThe report said that the median income for mechanics who make more and are in the bottom 10 percent of income earners is just $38,500 a year — below the national median.
The median income of those in the middle 10 percent is $60,000, according Credit Suise.
The difference between the top and bottom 20 percentile salaries for mechanics is even larger.
According the report for mechanics in the same categories as the top 40% who earn $40,000 and more, the median hourly wage is $23.55.