You want to work in a field that you're passionate about. But, if you're like most people, you want to travel down a route that will bring profitable chances not just now, but for years (or decades!) to come, which means picking a high-paying profession that is in demand now and will be in demand for the foreseeable future.
But how can you know what kinds of occupations will give such chances now and in five or ten years? Fortunately, you are not required to guess. Every year, the Bureau of Labor Statistics produces employment predictions for the next ten years, both overall and for each specific profession. Nothing is ever certain—and the most current estimates, which utilize models based on historical data through 2019, do not account for the effect of the COVID-19 pandemic—but the BLS growth forecasts may provide a decent idea of the long-term trajectory of a wide variety of occupations.
Let's take a look at 15 high-paying occupations that are expected to rise significantly over the next decade. For the sake of this list, "high-paying" employment are those whose median salary in 2020, according to the BLS, is more than the median family income in the United States, which was $68,703 in 2019. And "poised for considerable growth" indicates that the BLS expects this profession to expand "faster than average" or "far faster than normal" during the next ten years. (For comparison, the average growth rate for all professions is 4%.)
1. Actuarial
In 2020, the median wage will be $111,030.
18% projected growth rate between 2019 and 2029 (much faster than average)
Actuaries are often employed by insurance firms and are in charge of risk assessment. Actuaries utilize arithmetic, facts, and statistics to assess whether their company should offer a policy to a prospective client—whether that customer is a person or a business—and, if so, what the premium should be. Actuaries evaluate insurance policies such as health, life, vehicle, homes, medical malpractice, and workers' compensation, as well as retirement benefits and other assets.
A degree in actuarial science (which focuses on risk assessment using arithmetic and statistical modeling) or a related discipline (such as math or statistics) is required. Furthermore, in order to be certified as an actuary by the Casualty Actuarial Society (CAS) or the Society of Actuaries, actuaries must complete a series of tough tests over the course of many years (SOA)
2. Industrial Designer
In 2020, the median wage will be $88,950.
The projected growth rate between 2019 and 2029 is 10%. (much faster than average)
Industrial engineers specialize on optimization and efficiency. They assess people, systems, and processes inside a firm, including supply chains, operations, finance, and machinery or equipment, using math, statistics, science, and engineering concepts. Their purpose is to determine the most efficient method of integrating the systems and processes required to generate a product or service. They guarantee that firms maintain expenses low, productivity high, and organizational objectives met (for example, shipping a new product by a certain deadline or optimizing shipping and delivery operations).
A bachelor's degree in industrial engineering or a related discipline is required for success as an industrial engineer, and many industrial engineers go on to seek further degrees.
3. Data Analyst
In 2020, the median wage will be $98,230.
Between 2019 and 2029, the projected growth rate is 31%. (much faster than average)
Data scientists construct the frameworks that enable businesses to gather, organize, and analyze data—and then use that data to make better business choices. Depending on the demands of the organization, the role may entail executing data trials, deploying statistical models and algorithms, generating data products, and refining frameworks to boost effectiveness and generate better business results.
As data science is a highly technical, data-heavy function, a bachelor's degree in computer science, engineering, statistics, math, engineering, or a related discipline is usually required (and many companies prefer their data scientists hold an advanced degree).
4. Information Systems (IS) Manager: $151,150 in 2020.
The projected growth rate between 2019 and 2029 is 10%. (much faster than average)
Information systems managers (also known as IS managers) are in charge of creating and, yes, managing an organization's information systems. They typically hold a senior-level position within a company's information technology (IT) department and are tasked with evaluating the company's current technology, staying current on available upgrades and best practices, developing an information systems strategy or plan, making recommendations on everything from hardware to software to security, and supervising a team to implement their plans and recommendations. For example, an information systems manager may analyze the costs and advantages of a new piece of software, present their suggestion to executives or other decision makers, get it implemented effectively throughout the firm, and supervise its ongoing maintenance and security.
IS managers must have a thorough grasp of information systems and, as a result, often possess a bachelor's degree in a technical discipline (like computer science or information technology).
5. Analyst, Information Security
In 2020, the median wage will be $103,590.
Between 2019 and 2029, the projected growth rate is 31%. (much faster than average)
Information security analysts are in charge of keeping a company's information safe and secure, which is a major responsibility for most businesses in an age when so much sensitive data is exchanged and kept online. Information security analysts are in charge of researching and testing security solutions, evaluating a company's current digital security processes, identifying and fixing vulnerabilities, managing security threats or breaches, and developing and implementing security solutions and technologies (such as by overseeing the installation of firewalls and the use of data encryption).
Information security analysts must be well-versed in all aspects of cybersecurity and often possess a bachelor's degree (or higher!) in a technology-related discipline, such as computer science.
6. Manager of Finance
In 2020, the median wage will be $134,180.
Growth rate projected between 2019 and 2029: 15% (much faster than average)
Financial managers are in charge of an organization's money, as the word indicates. Financial managers might work for a corporation directly or for a consulting firm, where they handle financial management for the firm's customers. A financial manager may be responsible for a variety of finance-related tasks, depending on the needs of the company or client, such as identifying financial weaknesses or risks, developing solutions to eliminate those weaknesses or risks, performing financial research, creating financial projections and reports, preparing financial statements, setting financial goals, providing suggestions for how the company or client can hit those financial goals, and suggesting ways to improve financial performance.
Financial management requires a thorough understanding of company finance, which applicants may have earned as accountants or financial analysts, for example, and candidates normally need a bachelor's degree in finance, business, or a similar discipline to begin.
7. Registered Nurse (RN)
Salary: $75,330 in 2020
The projected growth rate between 2019 and 2029 is 7%. (faster than average)
Registered nurses (commonly known as RNs) offer medical care and assistance to patients in a wide range of venues (including hospitals, doctor's offices, surgical centers, nursing care facilities, schools, and patients' homes) and specializations (such as emergency care, pediatrics, or oncology). Nurses may handle a broad range of patient-related responsibilities, from monitoring vital signs to providing medicine to aiding with procedures, depending on where they work, their area of speciality, and the requirements of their patients. They also gather medical histories, keep medical records up to date, monitor equipment, and train and interact with patients.
Before you can begin working and seeing patients as an RN, you must first get an associate's or bachelor's degree in nursing and pass a license test.
8. Medical Assistant (PA)
In 2020, the median wage will be $115,390.
Between 2019 and 2029, the projected growth rate is 31%. (much faster than average)
A physician assistant (or PA) is a trained medical worker who offers normal patient care. A physician assistant, like a medical doctor (MD), may examine, diagnose, and treat patients, as well as prescribe medicines and design treatment regimens. However, unlike physicians, who may function autonomously, PAs must be overseen by an MD. PAs may work in a number of venues (such as physicians' offices and hospitals) and specializations (from primary care to surgery).
A bachelor's degree in biology or a related topic is required for a job as a physician assistant, followed by a master's degree program (commonly referred to as "PA school"), a national certification test, and license (requirements vary by state).
9. Median Sales Engineer salary in 2020: $108,830
The projected growth rate between 2019 and 2029 is 6%. (faster than average)
Sales engineers, as the term indicates, work in a hybrid job that combines characteristics of both sales and engineering. Sales engineers generally work for businesses that offer customers complicated technological goods or services. Sales engineers collaborate with clients to examine existing systems and design tailored solutions to meet their specific requirements. They present and pitch to customers, close and renew agreements, install software or equipment, and provide support after the technology is in use.
Because sales engineers must be well-versed in science, technology, and engineering concepts to be effective, applicants normally need a bachelor's degree in engineering to get their foot in the door (though certain possibilities may demand a master's degree).
10. Technical Writer
The projected growth rate between 2019 and 2029 is 7%. (faster than average)
Technical writers interpret complicated technical concepts into language that laypeople can read and comprehend, whether in the form of journal articles, instructional materials, video scripts, tutorials, instruction manuals, or FAQ sites. That means they must contact with the individuals who develop and manufacture the relevant goods or equipment, for example, in order to comprehend the intricacies of what they're writing about and establish what type of documentation is required. Their target audience might be colleagues within their own firm, clients, consumers, or members of the broader public.
Degrees in English, communications, or a similar discipline are common among technical writers. To be a successful technical writer, you must also have a thorough grasp of computer science, engineering, medicine, or whatever specialized technical topic you are writing about (in some cases, that might come in the form of a degree or prior work experience in that field).
11. Software Engineer
In 2020, the median wage will be $110,140.
The projected growth rate between 2019 and 2029 is 22%. (much faster than average)
Software developers (also known as software engineers) design, write, test, and build software, whether it's an enterprise software solution for a large organization or an individual-facing mobile app.
Coding skills are the most critical thing you'll need to succeed as a software developer. So, whether you learn to code via a degree program, a coding bootcamp, or by self-teaching, it doesn't really matter for most jobs; as long as you have the skills—and can demonstrate them during a technical interview—you should be able to obtain a job.
12. Marketing Director
In 2020, the median wage will be $141,490.
The projected growth rate between 2019 and 2029 is 6%. (faster than average)
Marketing managers are in charge of spreading the word about a product, service, event, brand, etc.—and persuading consumers that it is worthwhile to buy, attend, follow, etc. Some marketing managers are generalists, while others specialize in a specific type of marketing (for example, content marketing, email marketing, social media marketing, e-commerce, or search engine optimization and marketing) and lead the charge in developing, implementing, and optimizing strategies and campaigns to raise awareness, connect with customers, and drive sales or other conversions.
The majority of marketing managers have a degree in marketing or a closely related subject. A generalist in a smaller firm may be required to manage many or all facets of marketing while working on a small team or even alone. However, many mid-sized and bigger businesses need expert marketers, so the more abilities you can get in a certain area of marketing, the more likely you'll be to find a high-paying employment.
13. Human Resources (HR) Manager:
$121,220 Median Salary in 2020
The projected growth rate between 2019 and 2029 is 6%. (faster than average)
Human resources managers (also known as HR managers) are in charge of managing all aspects of an organization's workers.
HR managers may be in charge of a number of employee-related responsibilities, depending on the requirements of the firm, such as recruitment, employee onboarding and training, and benefit administration. HR managers may also be in charge of employee grievances and efforts aimed at improving business culture (like team-building activities or company wellness programs).
Most HR manager positions need a bachelor's degree, while some businesses may select applicants with strong interpersonal and logistical abilities (HR managers deal with a lot of paperwork!). even if they lack a formal education Keep in mind that you'll need to acquire experience and work your way up to a more senior position to earn this type of compensation.
14. Database Administrator
In 2020, the median wage will be $98,860.
The projected growth rate between 2019 and 2029 is 10%. (much faster than average)
Database administrators are in charge of keeping a company's database systems in good working order and ensuring that the information contained on them is conveniently, rapidly, and securely available. This may include optimizing data collection, storage, and organization; backing up systems; identifying problems or inconsistencies within the database and developing solutions; creating new databases and transferring data into them; overseeing user permissions; and designing and implementing security measures, depending on the database.
Understanding databases, how they function, and how to manage and improve them is essential for database administrators, therefore most have a bachelor's degree in information technology, computer science, or a similar discipline.
15. Public Relations (PR) Manager
The projected growth rate between 2019 and 2029 is 9%. (much faster than average)
Public relations managers (also known as PR managers) endeavor to affect how the public perceives a person, organization, or product, whether it's creating excitement around a new product launch, obtaining press coverage for a new book, or fostering favorable brand feeling for a firm. PR managers achieve these objectives using a range of tactics, including as developing and maintaining media connections, preparing press releases, and doing "damage control" to mitigate the effect of unfavorable news.
A bachelor's degree in public relations, communications, marketing, or a similar discipline is normally required for PR managers, however experience developing interest and driving favorable publicity may open doors for applicants without a degree.