The cost of attending college has skyrocketed and even those careers which we normally associate as ‘high earners’ can’t hope to repay college loans for almost a decade (if that!) after graduation. So what, then, are the highest paid business careers? This is what you might want to look at before deciding on your life’s work.
A Formula to Calculate Realistic High-Paying Salaries
One thing you may want to do is check out what various professionals are currently making on sites like highersalary.com. Start from there, find a career that interests you, and then look at median income according to the Bureau of Labor Statistics (BLS), along with the educational requirements and future job prospects.
With all this information on hand, you will be in a better position to weigh the cost of education against the salary you can hope to make. This would be a realistic look at what you can expect to make in the beginning while you pay off those loans.
What Are the Parameters of a High Paying Career?
According to a survey of high paying jobs examined in Business Insider, a high paying professional career is one that has a median salary of at least $60,000. This means the high end would earn somewhere in the six-figure bracket while low-end salaries will be considerably less. In other words, a high-paying career should shoot for $60,000 + per year in order to fit that bracket.
A Sampling of Careers and Median Salaries
Of the jobs that the Business Insider examined, they could be found in literally every industry across the board. From those in the service industry to IT professionals, it is possible to work in the field you love and still eke out a decent wage. Here is some of what they found:
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Market Research Analysts and Specialists
These professionals are classified as working in business operations and have a great forecast for future job prospects. The BLS found that this profession makes a median salary of $62,150 and within the next decade at least, 150,000 new jobs will be created.
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Insurance Underwriter
Classified as a financial specialist by the BLS, insurance underwriters average $65,040 per year but only just less than 20,000 new jobs will be created in the same timeframe. Yes, the pay is better but job prospects aren’t as high.
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Management Analyst
Finally, a career with a high median salary and much better than average job prospects! Again, falling within a business operations career, this profession will see more than 208,500 new jobs opening up within the decade. The median salary is $81, 320 per year.
So there you have a few examples of highly paid business careers to consider for your future.
Remember to check what the educational requirements are so that you can get a fairly accurate idea of just how much you will be realistically making in the first few years if you’ve loans to repay. All in all, it’s safe to say that Marketing, Business Operations, and Information Technology are safe future prospects with higher-than-average salaries.
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