Cannabis Industry on Track to Deliver 800,000 American Jobs by 2028

SAN DIEGO — In a recent report, CannabizTeam, a leading cannabis staffing and executive search firm, detailed optimistic projections for the U.S. job market within the legal cannabis industry, forecasting substantial growth and compensation boosts in the sector over the next five years. See the report here.

The firm’s sixth annual national salary guide underscores an anticipated near 50 percent growth in domestic job availability by 2028, accompanied by significant salary increases for highly sought-after roles, particularly within smaller companies. The guide outlines salary ranges and job projections, offering a comprehensive look at more than 70 of the country’s most in-demand cannabis roles.

Liesl Bernard, CEO of CannabizTeam, remains positive about the sector’s future despite current challenges. “With the expected reclassification of cannabis from Schedule I to III, slow but steady expansion on the East Coast, and the rise of cannabis acceptance, there’s plenty of potential to be excited about,” Bernard said. It is important to note that while the Drug Enforcement Administration is considering this reclassification, approval is not yet certain.

The salary report draws on proprietary data from CannabizTeam’s surveys and independent research, reflecting variations due to location, company size, and experience levels. Notably, the report highlights the substantial salary disparities between executive roles at multistate operators (MSOs) and single-state operators (SSOs), with top executives at larger firms earning up to 80 percent more than their counterparts at smaller firms.

Among the highest-paying positions in 2024, chief executive officers at MSOs top the list with annual earnings of $610,800, followed by chief financial officers at $500,200, and chief operations officers at $415,200. Conversely, the same roles at SSOs command considerably lower salaries, underscoring the compensation gap across different business scales.

Despite the dominance of MSOs in top salary brackets, SSOs are registering significant pay increases, leading the way in many of the year’s largest salary jumps by percentage. This trend highlights a competitive shift as smaller operators strive to attract top talent in a burgeoning market.

The report also pinpoints the most in-demand roles for the year, ranging from direct-hire positions such as dispensary general managers and directors of cultivation to temporary roles like cultivation technicians. This variety reflects the industry’s flexibility and the diverse opportunities it offers.

Further supporting the industry’s growth trajectory, market intelligence platform Cannabiz Media reports robust licensing activities, particularly in states like California, Michigan, and New Jersey. Projections for 2024 indicate New York leading in new licenses, potentially adding 945 by year’s end, signifying substantial market expansion.

This dynamic growth and the evolving landscape of cannabis industry employment present significant opportunities and challenges as businesses and workers alike navigate a rapidly changing economic environment.