Top Paying Job Sectors in the Upcoming Year
With a rapidly changing social and economic atmosphere, the need for several occupations has become redundant while the demand for others has multiplied. The COVID-19 pandemic has hindered economic growth all over the world making it important to understand what jobs will pay the same or even more than before now.
The labor sector presents a confusing tangle of information to digest, but reading up legitimate reports that are backed by statistics related to salaries is a good way to research. Looking up past statistics suggest that bankers were earning some of the highest salaries in the UK, while tech and consulting firms paid the highest salaries in the US.
So what is the truth? The U.S. Bureau of Labour Statistics recently published their Occupational Outlook Handbook (OOH), which contains research-based information about what the economic and financial atmosphere looks like for the USA’s workforce.
Here is what it says will be the highest paying job sectors in the next decade...
While doctors have always enjoyed a state of financial security, this year has proven more than ever why we need to value our physicians and healthcare staff.
What do doctors do?
Doctors diagnose diseases, prescribe medicine, perform surgeries, assist in recovery processes, and are the only thing standing between a sick human and death. Their salaries increase and decrease according to their specialty.
2. Airline pilots
Airline pilots have long since been sought-after individuals, due in part to the dangerous nature of the job, but also because of the effort and practice, it requires to become a pilot. With rates of airline travel increasing day-by-day, airline pilots will likely continue to be well-paid individuals in the future.
What do airline pilots do?
They are primarily responsible for flying planes, but also to divert the plane away from its destination or land it safely with no loss of life in case of turbulence, the danger of natural disasters, or any terrorist activity.
3. IT Managers
The world we know now is rapidly changing to accommodate the Internet. Similarly, companies have been spending on hiring competent IT managers to ensure that their computer systems are in working order. This makes their profession a very valuable one, making them some of the highest-paid individuals in the corporate sector.
What do IT managers do?
IT managers work in companies to ensure that all digital and online functions of the company are running smoothly. They also protect the company’s data from outside interference and ensure its privacy.
4. Petroleum Engineers
Petroleum Engineering has seen a massive boom in its scope in the past few decades. These days, it is a coveted occupation due to its specialised vocation. It is why Petroleum Engineers make up a large percentage of the U.S.A.’s highest paid individuals.
What do Petroleum Engineers do?
Petroleum Engineers are responsible for drawing up plans to drill and extract oil, natural gas, and other such raw materials from oil rigs and manage the complicated equipment used there.
Lawyers have long since enjoyed a prestige in developed countries, with very high-paying jobs in corporate spaces and fruitful partnerships with large corporations. The BLS Handbook suggests that this prestige will continue on for at least the next decade.
What do Lawyers do?
Also called attorneys-at-law, solicitors, advocates and barristers are individuals who are qualified to defend a client in a court of law, protect the client from being exposed to lawsuits, write various legal agreements between companies, organisations or individuals and generally make sure that all projects undertaken by their client are legally sound. They represent some of the highest-paid individuals of the labour sector.
6. H.R. Managers
While most people do not know exactly what an H.R. Manager for a certain company does, it is often alluded that it is a high-powered job. With more corporate spaces cropping up every day, it seems that Human Resources Managers will be booked well for the next decade.
What do H.R. Managers do?
Human Resources Managers handle all employee issues and affairs, including complaints about office conduct, appointment and termination, interviews and recruitment efforts.
H.R. Managers usually require a Bachelor’s degree in Human Resources Management, but can also be appointed on the basis of another related Bachelor’s or Master’s degree.
7. Marketing Managers
Marketing has long since been the only weapon that businesses employ to get ahead in the game. The opinions of almost all consumers are swayed by clever marketing campaigns that appeal to the target audience. The Marketing Managers are the brains behind the entire operation.
What do Marketing Managers do?
Marketing managers are the brains behind several advertisements that you see online or on T.V. and billboards. They serve to increase the brand’s visibility by employing several marketing techniques that would make a consumer more likely to buy the product. They seek the help of firms such as Future Trans that specialize in marketing brands in foreign languages to help their companies stand out as compared to their competition.
You are typically required to at least have a Bachelor’s in Business, Communications, or Marketing to be hired.
Pharmacists are people who manage pharmacies and are involved with the selling of medication on the order of a physician. The pharmaceutical industry is an extremely necessary part of a country’s healthcare, which is why pharmacists are some of the highest-earning individuals and will remain so for a long time.
What do pharmacists do?
They are involved in resolving issues of medical insurance, drug interactions, potential side effects and educating patients about the medication that they will be taking. They also fill out prescriptions and dispense medications as per the doctor’s orders.
Pharmacists are typically required to have a Doctor of Pharmacy (PharmD) degree to practise.
Some of the occupations in this list are newer entries but a lot of them are jobs that have been around a long time. Thus, it is safe to make a choice among these for your future living.