The 10 Best Jobs for Pay Raises and Growth

Courtesy of www.BusinessInsider.com:

10.  Astronomers.  Average annual salary: $110,450 (!).  Projected 1-year opportunity growth: -18.0%.  Projected 1-year salary growth: +14.5%.  High salary.  Good salary growth.  But sorry, kids, the growth in this industry isn’t there.  And that’s not surprising.  Who really wants to sit alone in the dark and watch the stars by themselves?

9.  Law Professors.  Average annual salary: $105,080.  Projected 1-year opportunity growth: +2.2%.  Projected 1-year salary growth: +5.1%.  All of the numbers here look good.  What doesn’t look good is the fact that getting that JD will cost you $150,000 even at a lower-tier school like Faulkner University Law School.  Demand for law professors is high due to the fact that there are currently more people enrolled in law school in the U.S. than there are lawyers.  Great if you are a law professor.  Bad if you are actually looking for a job once you get out of law school.

8.  Genetic counselors.  Whiskey Tango Foxtrot?  This is an actual thing?  Average annual salary: $63,590.  Projected 1-year opportunity growth: -1.0%.  Projected 1-year salary growth: +12.0%.  Great if you are already doing this, whatever it is.  Bad if you are looking to break into the industry.  And trust me, if you look like this guy the last thing you should be allowed to do is counsel someone else about genetics (unless you are talking about the gay gene):

Genetic Counselor7.  Aircraft Pilots and Flight Engineers.  Average annual salary: $101,350.  Projected 1-year opportunity growth: +9.0%.  Projected 1-year salary growth: 3.0%.  Probability of joining the Mile High Club: 100%.  Unfortunately, you need great vision and pilot training in order to become a pilot.

6.  Pediatricians.  Average annual salary: $157,610.  Projected 1-year opportunity growth: +1.1%.  Projected 1-year salary growth: 1.9%.  Great salary, low growth.  You will have to deal with sick and sometimes cranky children.  Of course, now that Obamacare defines a child as anyone under the age of 26, you might just meet your mate this way.  It’s gotta be better than eHarmony.com.

5.  Personal Finance Advisors.  Average annual salary: $75,320.  Projected 1-year opportunity growth: +4.6%.  Projected 1-year salary growth: +11.6%.  Let’s face it, most people get caught up in trying to keep up with the Joneses.  And they never realize how much money they are wasting until there is too much month left at the end of the money.  Or in extreme cases, where there is too much life left at the end of their retirement savings.  That’s where I come in.  I’m Joe Friday.  I’m a financial advisor.

4.  Reinforcing Iron and Rebar Workers.  Average annual salary: $59,010.  Projected 1-year opportunity growth: +12.7%.  Projected 1-year salary growth: +11.1%.  Projected chance of getting a hernia: 100%.  This is hard work.  And not many people in the U.S. today want to do hard work.  Including me.  That’s why I’m a financial advisor.

3.  Dentists.  Average annual salary: $163,450.  Projected 1-year opportunity growth: +1.0%.  Projected 1-year salary growth: +5.5%.  High average salary and a good rate of salary growth.  Unfortunately, you have to put up with halitosis on a daily basis.  Not to mention gum disease and people who miss the basin when they spit.

2.  Psychiatrists.  Average annual salary: $178,950.  Projected 1-year opportunity growth: +3.4%.  Projected 1-year salary growth: +3.2%.  Pluses: high salary and growth rates.  This is partly due to Obamacare providing more money for treatment.  Add to that the fact that the number of psychiatric diseases has increase (i.e., more people are being defined as crazy), and you have a potential goldmine.  Minuses: you have to deal with crazy people.  And people from Hollywood.

1.  Family and general practitioners.  Average annual salary: $176,530.  Projected 1-year opportunity growth: +9.8%.  Projected 1-year salary growth: +2.6%. 

The gist of this list is that it is good to be a doctor.  You will earn a high salary in a growing industry.  What isn’t mentioned is that the opportunity cost is quite high: 10-12 years of your life.  And medical school is quite expensive.

According to the AMA, the average debt facing graduating medical students in 2009 was $156,000. Here is a Wall Street Journal story about the worst case scenario for medical school tuition debt, a whopping $550,000 tab run up by a family practitioner.

So there you have it.

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Categories: College, Education, Job Skills, Opportunity Cost

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