Best Job For the Future:
when we select a career that has limited growth potential with limited income potential, we are essentially trying to fly against a strong headwind. We do
our best to succeed, yet we don’t get far because the natural trend is against us.
On the other hand, if you select a career field that has its own natural tailwind,
good growth rate, a lot of future job openings and potential for income growth, then your effort will be greatly compensated. I’m going to talk about the 9 best jobs for the future. Ones with strong tailwinds so you can set yourself up for success. And if you are a bit older like me,
financial goals and studies show that in most states, $75,000 is enough to put you in the middle class and allow you to support your family while at the same time achieving your financial goals. Second criteria is the educational requirement. There are alot of jobs out there that pay good salaries, but require a quite bit of education in order to get there. Think medical school for doctors. Or PhD for researchers. I focused on jobs that didn’t have that level of barrier to entry. So all the jobs that I’ll cover here do not require more than a masters degree for entry. Most actually stop at Bachelors. Third criteria is job growth. The world is changing faster than many can adapt to and job growth rate is a great reflection of that. Jobs that were considered great jobs in the past no longer exist. For example, 50 to 60 years ago, American manufacturing was considered the job to Get.
High paying factory jobs offered workers with limited education a ticket to the middle class.
But today, those jobs are quickly disappearing. For example, Assemblers and Fabricators boasts
a strong number of jobs of over 1.7 million today. But it is expected to decline by 5%
in the next 10 years. Almost 90,000 in job loss. It’s important to select a career field
with high job growth potential or you will be fighting an uphill battle the rest of your life.
The fourth criteria is the actual number of jobs projected. A job might have fast growth potential,
but if the pool is too small to start out with, the total number of new jobs might not make the pursuit worthwhile. A good example of this is a Wind Turbine Technician.
It has a whopping 68% job growth rate. But unfortunately this only translates to 4,700 New jobs. And this is in the whole country. The growth rate is exciting, but the pie is too small in my eyes to make it on the list. One interesting thing I observed after completing the list is how most of these competitive jobs fall within just a few select industries. Most notably healthcare,
finance and technology. Not surprising given these are also some of the fastest growing industries as well. Alright. Number one best job for the future is Software Developer. 2020 Median Pay is around
$110,000 a year. In order to become a Software Developer, you typically need a bachelor’s
degree in computer and information technology or a related field like software engineering. It is Expected to have a projected job growth of 22% for the next 10 years. Nice strong tailwind of growth.
As regards to the total number of jobs expected to open up in the next decade, we are expecting close to half-million new openings. There are currently close to 1.9M Software Developers in the United States right now so if you had to pick one career based on the total number of opportunities,
this would be it. However, understand that this is a challenging field. Software developers are responsible for designing and writing softwares for computers, tablets and phones. This youtube platform was developed by a few very smart software developers who used to work at paypal. So if you want to become a software developer, know that you will be spending a lot of time behind a computer screen. It would best serve you if you enjoy working with technology and don’t mind
solving complex coding problems for hours on end. Currently, the majority of the biggest companies in the United States are technology companies. Apple. Google. Amazon. So if you decide that
Software Developer is for you, I’m confident the sky will be the limit for opportunities to grow and earn a strong income.
In order to become a Registered Nurse, you typically need a bachelor’s degree in nursing, an associate’s degree in nursing, or a diploma from an approved nursing program. In addition Registered Nurses
must be licensed. It is expected to have a projected job growth of 9% for the next 10 years.
Not as big as software developers, but when we look at in context of the total number of nurses
needed, 9% is actually a huge number. There are currently more than 3 million Registered Nurses in
the United States. With a 9% job growth rate for the next decade, this means we will need close to 300,000 new nurses. Nurses to replace the ones who are retiring, as well as fill brand new positions.
With 300,000 new openings, you won’t have any trouble finding a job as a nurse. But, again. This too is quite a demanding career. Registered Nurses are responsible for a range of responsibilities.
Providing and coordinating patient care. Educating patients about various health conditions. And providing even advice and emotional support to patients and their families. You need a lot of compassion for serving patients and given that most registered nurses operate within hospital settings, don’t be surprised if you are on your feet constantly. But if you like the idea of really serving patients at their most vulnerable times, this could not only be a financially rewarding career, but also emotionally. Number three on our list of best jobs for the future is Medical and Health Service Managers. They are also commonly known as Hospital Administrators or Clinical Managers. 2020 Median Pay is around $101,000 a year. In order to become a Medical and Health Service Managers you typically need at least a bachelor's degree. There are also graduate programs that specialize in hospital or healthcare administration. Degrees that focus on both general business management and healthcare are oftentimes looked favorably upon. It is expected to have a projected job growth of 32% for the next 10 years. And with the current total number of jobs around 400,000, it is expected to have close to 140,000 new openings in the next decade. With healthcare needs growing with longer life expectancy, there will be more demand for smart administrators to manage this growing industry. It is a broad and complex role that requires responsibility over planning, directing and coordinating medical and health services. A healthcare administrator may be asked to manage an entire facility, a specific clinical area or a department.
In order to find success in this career field, one will not only need key business managerial skills like operations and finance, but will also need to be well versed in healthcare specific knowledge such as medical staffing and licensing requirements. If you like the idea of
managing complex organizations while supporting frontline healthcare professionals, this might be an ideal career track for you. Number four best job for the future is Management Analysts.
Also oftentimes called Management Consultant. 2020 Median Pay is around $93,000 a year. In order to become a Management Analyst, you typically need a bachelor’s degree. Usually in business,
economics or a related topic. Some employers prefer to hire candidates who have a master’s degree in business administration (MBA). It is expected to have a projected job growth of 14% for the next 10 years. With slightly more than 900,000 management consultants in the United States, this translates to about 124,000 new consultants for the next decade. Nice strong Number if you are interested in this career field. I actually did a short stint as a management Consultant while I was in business school and I admit it is a challenging, but rewarding pathway.
Your primary responsibility is to recommend ways for organizations to improve their efficiency. You advise company executives on how to make their organization more profitable through reduced costs and/or increased revenues. And for consultants who stay in the career field for a long time,
they often specialize in specific functions such as cost analysis or inventory control, and also in specific industries such as healthcare or government. However, one of the major appeals of being a management consultant is the opportunities it opens up for those who want to transition into a more consistent role. As a Management Consultant you are being exposed to new companies,
new functions and new industries constantly. You gain a very broad appreciation of the market.
Not only are you developing critical business skills, you get to network with key individuals within each industry. This could allow you to seamlessly transition to an in-house Role. Much more smoothly than someone who might be trying to break into the company without any connection or experience. If you like solving complex business problems and don’t mind jumping into new projects every few months, this could be a great career option for you. Next on our list of best jobs for the future is Nurse Practitioner. Also referred to as advanced practice registered Nurses. APRNs. 2020 Median Pay is around $124,000 a year. In order to become a Nurse Practitioner,
you must have at least a master’s degree in your specialty role. For example
Nurse Midwife or Pediatric Nurse Practitioner. You also must be licensed registered nurses and also have a APRN license in the state you want to practice in. With projected job growth of 45%
for the next 10 years it has the highest growth rate of all the jobs that we are reviewing today.
Today there are slightly more than 270,000 Nurse Practitioners in the United States.
With a 45% growth rate, this means we will need close to 121,000 new Nurse Practitioners in the next decade. That is pretty crazy if you think about it. And Nurse Practitioner is a pretty cool job. They can work independently or in collaboration with physicians. Also in most states, they can prescribe medications, order medical tests, and diagnose health problems. With
increased demand for more healthcare providers in the future, Nurse Practitioners fill this crucial gap for patients that need medical attention. One major hurdle to being a Nurse Practitioner is that you not only need your Nurse Practitioner degree, but you also need to be a licensed registered nurse. But if you are currently a nurse and you want to grow your scope as well as your income,
this is a great pathway to pursue. Number six best job for the future is Finance Manager. 2020 Median Pay is around $132,000 a year. In order to become a Finance Manager, you typically need a bachelor’s Degree in business, economics, or a related field and also some experience in another business or financial occupation. They often were a financial analyst or an accountant in their previous job.
It is expected to have a projected job growth of 17% for the next 10 years. With close to 700,000 Finance Managers in the United States, we can expect about 118,000 new Finance Manager positions to open up in the next decade. And I’m pretty familiar with this role given I spent close to a decade in this and similar roles. My last job was as a Finance Director. The life of a
Finance Manager revolves around crunching numbers. Most often they are creating financial reports,
developing plans for long-term financial goals and advising top executives on strategies to maximize profit. I spent a good chunk of my time in board meetings reviewing financial performance and projections of the organization. To succeed in this role, it requires a combination of technical analytical skills as well as ability to clearly communicate the findings to the executive team.
Another nice part of this job is that it is one of the few occupations that is transferable across different industries. Oftentimes the financial projection methodology between industries don’t change too much except the assumptions that are used in the inputs. So if you see yourself as a numbers guy, like the idea of running financial scenarios and advising senior leaders, this could be a great occupation to devote yourself to. Number seven best job for the future Is a close cousin to the Finance Manager. And that is an Accountant. 2020 Median Pay is around $77,000 a year. In order to become an accountant, you typically need at least a bachelor’s degree in accounting as well as completion of certification as a licensed Certified Public Accountant, CPA. It is expected to have a projected job growth of 7% for the next 10 years. Though the growth rate isn’t as large as some of the other jobs that we covered thus far, given we currently have close se to 1.4 million accountants here in the United States, a 7% growth means close to 100,000
new jobs for the next decade. And despite many people considering accounting as a boring field,
they play a crucial role in pretty much all organizations - government, for-profit and
nonprofit. Any organization that requires spending of money needs accountants to prepare and examine financial records. They are responsible for ensuring that financial records are accurate,
that financial risks are evaluated, and that taxes are paid properly. Without them organizations and companies would have no idea if they are making money or losing money. And there are also many
different variations of accountants. You could be a public accountant responsible for working with financial statements that corporations are required by law to disclose. Or you could Be aForensic Accountant, investigating financial crimes such as securities fraud and embezzlement. What I like about the role of accounting is that it is a good entry level occupation that could function as a stepping stone for other higher paying occupations such as financial executive
or financial consultant. If you like adding numbers and want a stable career, you can’t go wrong with accounting. Number eight best job for the future is Information Security Analyst.
2020 Median Pay is around $103,000 a year. In order to become an Information Security Analyst,
you typically need a bachelor’s degree in computer science, along with related work experience.
Employers also look favorably upon analysts who have professional certification related to information security. It is expected to have a projected job growth of 33% for the next 10 years.
This translates to approximately 50,000 new jobs in the next decade given we have about 141,000 IT Security Analysts currently. With technology playing a bigger and bigger role in our society,
so is the need to keep digital information secure. If you just google IT security breach,
it almost feels like every company out there has been hacked. Even technology companies
like facebook and twitter are no exception. So Information security analysts play a crucial role in planning and carrying out security measures to protect an organization’s computer networks and systems. Given that technology is also evolving, this means these IT security analysts can’ just stay still with their skillset. They must stay up to date on IT security and on the latest methods attackers are using to infiltrate computer systems. If you like the idea of being on the forefront of securing our digital data, this would be a great career for you. Number nine
best job for the future is a close brother of a Nurse Practitioner. And it is Physician Assistant,
also known as PAs. 2020 Median Pay is around $121,000 a year. In order to become a PA,
you typically need a master’s degree from an accredited educational program
and all states require PAs to be licensed It is expected to have a projected job growth of 31% for the next 10 years. This translates to approximately 40,000 new jobs in the next
decade given we have about 129,000 PAs currently. PAs work closely with physicians in examining,
diagnosing and treating patients. You can find them in all areas of medicine including primary care, emergency medicine and surgery. I’ve been noticing that when I go in for my regular physical exams now, I’m most often seen by a PA rather than a physician. And unless I look at their name tag,
I forget that I’m being examined by a PA. In a time where we have shortage of healthcare workers,
they play a crucial role in providing that necessary healthcare service to patients. If you are not already a nurse, but want to still pursue an advanced career in healthcare, this could be a great route to pursue. Selecting the right career path is crucial if you want to build wealth.
The right career will act as your natural tailwind. If you or your child is to pursue
any of the jobs that I mentioned so far, I’m confident their potential for career growth and thus income growth is limitless. This will allow you to save more and invest more, and achieve
financial security sooner.
Thank you.
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