Interesting take. Most government positions are pretty flat as well, but come with decent incentive packages to make up for the perceived lower pay. For example; insurance, civil service rules, unions, pensions, stable working hours, etc.

Now let's talk about railroads, utility companies, and other "blue collar" work that requires an apprenticeship. First of all, layoffs happen quite often and seniority determines who is laid off. Not horrible and expected in a wide range of professions, but my neighbor is laid off way more often than I would be comfortable with (Union Pacific). Such is the ebbs and tides of business.

Then there is the rampant nepotism and other forms of preferential treatment to even get these jobs. To work for the Electric company, you had better know someone that is a respected IBEW member who will vouch for you. Same goes for the natural gas utility and just about all the people I know who work for utility companies in my city.

I say all that to say, these are still dead-end jobs unless you are lucky enough to pass the subjective management tests. Like you said, there is an upper limit on the wages you can earn without overtime. That sucks because you are going to absolutely destroy your body working most of these jobs. Why settle for that? The outcome is predetermined... additionally the work may be boring as shit after 10 years or so, then what?

If I had to do it all over again...