Despite the supposed benefits AI brings especially to the world of sales, and the threats it entails to local job markets, various industries are still looking for specialist skills and talents. It only goes to show that, rather than competing with organic workers, new technology has opened up windows of opportunity for people with the right skills.
Sure enough, there’s a dearth of available skills mostly in the healthcare, technology, and engineering industries. The increasing demand for these skills in the job market has resulted in a drastic hike in salaries.
Let’s take a look at some of the year’s most lucrative careers and see where the future takes them. Included are the annual averages for each position and the respective descriptions for each position.
- Sales Manager
Annual average: $150,000
You guessed it right! We can’t start our list without mentioning this highly lucrative position in every business enterprise we come across. Sales managers basically handle the critical responsibility of finding new clients and making an impact on the organization’s bottom line. It takes a lot of experience to become a sales manager, but so long as you have a passion for service and effective leadership skills, you can definitely forge a stable career in the world of selling.
- Investment Banker
Annual average $80-90,000 plus bonuses
For many recent graduates from business economics and commerce schools, investment banking is a highly lucrative area that promises stable career growth and lets you accelerate your learning curve. In addition, investment banker salaries also include bonuses on top of base pay. Then again, being able to live comfortably with such a fat paycheck will depend mostly on how the economy performs and how driven you are, as well as the position you have at the bank. You could be so lucky as to get a base pay of $60,000, but the trick to getting more is to work your way up the ranks and spend time learning new skills.
Annual average $140,000
Of course, we can’t talk about six-digit income without any mention of the legal world. Lawyers enjoy the reputation of having one of the world’s busiest and most demanding careers. Whether you specialize in handling family law or work as a corporate lawyer for a large corporation, the work entails a great deal of stress as you handle complex cases and disputes. Then again, all of it seems worthwhile since you’ll be getting a hefty fee for your services regardless of if you’re working at a firm or not.
Annual average $250,000
Alongside lawyers, medical professionals also rake in very large salaries. Considering that they work in hospitals and clinics where there is a high amount of pressure, the compensation should be relatively higher. In the case of surgeons who spend years perfecting their life-saving skills, salaries could even reach as high as a million dollars, especially for experienced professionals treating high-profile celebrities, politicians, and the like. But in most cases, gross pay is determined by specialization, experience, and seniority, as well as the complexity of each procedure you handle.
Annual average: $220,000
Mental health is just as important, and it takes a lot of skills to determine and resolve a person’s behavior without having to dissect anything. Ever since it became a professional career choice, psychiatry has adopted numerous approaches to understanding why people behave as they do. Using these approaches involves extensive study, which often amounts to four to five years of formal training. Added to that is the need to obtain a professional license before establishing your own practice.
- Commercial Pilot
Annual average: $140,000
Pilots are definitely the highest paid in the transport sector, considering the fact that most airline companies even offer very high compensation packages that include attractive bonuses and perks. The reason for this is that there has always been a high demand for licensed pilots. This is understandable as the air travel industry keeps on growing, and airline companies will have to expand their fleets to address the ever-increasing demand from the global tourism industry. Another factor here is that airline companies will have to replace retiring pilots with young new talents. Attracting these talents would mean coming up with impressive salaries that also take into account the low supply of skills and experience in the job market.
- IT Manager
Annual average: $150,000
As digital transformation defines our world today, organizations should be prepared to adopt new strategies and tools for optimizing their networks, enhancing data security, and meeting demands for greater convergence. Sure enough, the demand for skills in the field of IT and tech has also jacked up average salaries. IT managers, for sure, are afforded a large base pay to fully compensate for the number of tasks they have to deal with, such as maintaining databases and keeping security systems optimized. That said, such a position requires extensive preparation and experience which you can easily bypass so long as you know your way around the complex world you live in.
- Real Estate Professional
Annual average: $90,000 but varies from state to state
As home prices start to pick up more than a decade after the 2008 Global Financial Crisis, an uptick in local market activity gives us hints that the realty business is still standing on solid ground. Job and income growth are a big factor in this, along with the fact that there has been an increase in real estate transactions coming from Millennials. In effect, the demand for quality real estate services has become stronger than ever, with agents and brokers enjoying large paychecks. Then again, the amount they regularly earn pales in comparison to the commissions they get for each completed transaction.
These jobs are definitely the ones to watch out for, especially as 2020 comes around and high school students have to choose the right career path to take. Then again, finding a job you like isn’t always about the expectation of being paid a large sum.
Experience is just as valuable as anything. This is something you need to keep in mind, whether you’re planning a major career shift or suggesting a good major for someone you know.