So, you’re looking for a way to make a lot money? Well, unless you’re in line for a big inheritance from a long-lost relative, your best bet lies within the job market. What Careers Make the Most Money
We all know that jobs are not created equal when it comes to making money. There are low-paying jobs and good-paying jobs. Then, there are highest-paying jobs. Those are the ones we’re most interested in right now.
Choosing a lucrative career path can mean having the means to enjoy the finer things in life, like taking luxury vacations, wearing designer clothes, and never having to check a price tag. But the road to get there isn’t paved with gold.
Section 1: The 25 Highest Paying Jobs
So what exactly makes a career in finance the top-paying job in the United States? Just as we mentioned, there are a variety of titles that net well-heeled folks the huge bucks. You could earn $140,000 or more as a professional investment banker.
You might not have heard of the Securities and Exchange Commission, but if you’re looking for a financial job in the city of New York, you can earn at least $180,000 a year.
While “king of the jungle” is a popular title among trophy hunters, that’s not a super lucrative job title either. But it pays well. In fact, an executive at North Carolina-based Schindler Elevator is the highest paid private elevator company executive in the country. Their president, Bill Schindler, pulls in a cool $840,000 a year.
Engineering
With an average salary of $108,000, engineers are the highest paid career in the United States.
This category of jobs requires you to master the intricacies of complicated mechanical and electrical systems that may at times make your job difficult. Still, there are plenty of benefits. That includes:
A few of the most common job titles in the engineering industry include electrical engineers, computer scientists, and electrical engineers.
Lawyer
The average salary of a lawyer is $121,000.
The Bureau of Labor Statistics estimates that over the next decade, the demand for legal professionals will only increase.
Research
To come up with the average salary of a research scientist, US Department of Labor researchers used a variety of data to gauge the US economy.
Doctors
In 2016, The New York Times estimated the median pay of a medical resident is $160,000. After five years, that goes up to about $260,000.
Engineering Manager
A report by the American Society for Engineering Education put the average salary of an engineering manager at $108,000. However, due to the wide variety of engineering jobs in demand, pay varies considerably. A career in engineering management is one that will likely pay well over $200,000, when considering additional areas of expertise.
Legal Assistant
Starting salaries for a legal assistant start at $35,000 and can rise as high as $70,000, depending on education and experience.
Content strategist
Content strategists have a median salary of $68,000, but that varies considerably depending on the position and skill set.
Lawyers
Lawyers are easily the highest paid. They make more than $300,000, on average. But, there are other opportunities in this sector. According to PayScale, the highest paying jobs include:
– Government Legal Analyst
-Forensic Linguist
-Mediator
Medical professionals
Those with high incomes are taking jobs in the medical field. As stated on the chart, they make an average of $97,890. However, there are other jobs that offer higher salaries.
– Occupational Therapist
-Physician Assistant
-Optometrist
Chefs
Why would anyone want to cook and serve food for other people? Well, if you enjoy doing that, and are good at it, you’ll be seeing a great payday. According to PayScale, the top-paying jobs in this field pay $79,500 on average.
How to Choose a Career Path
To find the best possible career path for you, you need to first understand what’s in it for you. Why do you want to work in that particular industry? What do you want to get out of your time in that line of work? Are you thinking about money, fame, a purpose, or just plain independence? Find out what is it that appeals to you, what excites you, and then decide what job is best for you.
To narrow down your options and pinpoint the best career path for you, first look at what the current demands of the workforce are, and what skills are being in high demand right now. However, don’t just look at things from a purely work perspective. Look at it from a skill perspective too, and figure out how many different skills you can pick up while in that line of work.
Your Interests
While the world of high-paying jobs may seem far removed from the everyday, there are a number of industries that pay well. The market of many lucrative careers has been saturated by new companies that create the best consumer goods.
In terms of buying and selling, the most lucrative of industries are accounting, consulting, and architecture. In fact, architects earn an average of $129,000 per year. If you’re looking to go from pay-to-pay checkbook, accountants are well-positioned for making a great living and enjoying the finer things in life, because they get paid well for working smart and achieving excellent results.
Job Security and Work-Life Balance
There’s more to a job than making money. You need a career that will provide you with job security and work-life balance, even if you don’t make any more money.
While those aren’t the only perks you’re looking for in a job, they are the reasons why your paycheck will be able to support you.
Career Stability
A stable job offers you predictable work hours and a chance to advance your career. At some point, you’ll be recognized as an expert in your field and receive promotions, which can lead to substantial raises and promotions.
However, you need to be able to afford to enjoy your new status in order to enjoy it. Fortunately, those bigger salary bumps will typically come along with a higher cost of living, as well as new and difficult demands on your time and energy.
How to Change Careers at 40
According to a new report, CBS MoneyWatch is reporting that you need to start making a steady income in your mid-20s if you want to become wealthy. CBS reports that a new study commissioned by Northwestern Mutual finds that, on average, millennials need to earn six-figures over their lifetime to achieve financial success.
The study also found that a full 45% of millennials wish they knew how to build wealth before they graduated from college. Many, in turn, take jobs with less pay and less prestige than they could have achieved in order to pay off their student loans.
It might not seem like a lot, but earning $300,000 per year can add up quickly. The average household income in the United States is about $52,000.
Conclusion
While your income should never be your ultimate goal, it’s important to understand that the best way to make more money is to achieve the highest-paying job possible.
Sure, people make more money for one reason or another, but sometimes you have to consider the cost of a certain lifestyle.
Bottom Line: Think Before You Spend.
So, we’re not suggesting you become a drug dealer. We are suggesting that you spend smart, so you can achieve your goals and enjoy life without experiencing financial ruin.
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