One of the things you may be contemplating as the New Year rolls around is a career change. After all, if you need to make more money (and really, who couldn’t use more money?) changing to one of the top paid careers is a great strategy. There a several strategies you can use when you’re deciding how to choose a career. How you proceed will depend on your situation. Just don’t forget to include your opportunity cost, and the cost of anything you have to spend chasing this new way of making ends meet, when making your decision.
You can just look to a list of the top ten careers. Lord knows there are many of those around. Here’s one for the top careers of 2007 from FastCompany.com, and another, the 2008 Hiring Outlook, from Monster.com. The problem with that strategy is that you can’t just grab a list, look at the top paying career on it, and think, “Hey, that’s for me!” Well, if money is all that matters to you, I guess that approach may work fine, but for the rest of us….
There are so many other factors that enter into the equation. Are you looking for a career in a completely new area, or do you want to stay in the same industry or type of work? Are you happy where you live, or would this be a great opportunity to pick up and move? Are there specific things you’re looking for, besides the career’s pay? Many studies have been done that suggest that career pay does not correlate directly to job satisfaction. A 2000 study by the employer research organization The Conference Board found that job satisfaction dropped more rapidly in those earning over $50,000/yr than those making less than that. While you may want to maximize your income, your overall satisfaction is definitely worth considering too.
Something else to consider is what you’ll be willing to undergo to change careers. Would you mind going back to college? Just imagine it; whiling away your days playing Halo3 and online poker, downloading porn, and beer bonging. Could it get any more exciting?? But seriously, entertaining the thought of going to college, or returning to it, is not a trivial matter, and may be more than you’re willing (or able) to consider at this point in your life. If a full time degree program isn’t in the cards, you have a few choices, if your new career demands further education.
There are many advanced degree programs that are aimed at those already working. They are usually a combination of on-line and evening curricula, and are offered by both traditional universities and some of the more working-adult oriented facilities, such as the University of Phoenix and DeVry University. Such programs will allow you to keep your life more or less as is while you strive for an advanced degree like a frenzied fan pushing through the line for a beer at an Islander’s game.
Maybe you’d like something that requires a bit less time in pursuit of a degree. You can shoot for an associate degree. These take about half the time of a bachelor’s and are offered at community colleges throughout the nation. You’ll save substantial money and be able to take advantage of a local facility. If that’s not up your alley either, there are a plethora of certificate and technical training programs at technical schools throughout the country. You can get into new careers as diverse as law enforcement, custom electronics installation, HVAC technician, ultrasound technician and dental hygiene.
You can actually make a nice income in a career that needs no 4 year college degree. According to the Farr and Shatkin book "The 300 Best Jobs That Don't Require a Four-Year Degree", here are some of the top paid jobs available to those without 4-year college degrees and their average annual salaries:
Air Traffic Controllers - $102,000
Transportation Manager - $66,000
Real Estate Broker - $58,720
Elevator Installation and Repair Tech - $58,710
Dental Hygienist - $58,350
Nuclear Medicine Tech - $56,450
Immigration and Customs Inspector - $53,990
Commercial Pilot - $53,870
(note: many airline pilots with seniority make far more than this)
RN $46,782 (minority nurse.com)
So, where in the job market should be looking if you want to be in demand for the foreseeable future? According to the Bureau of Labor Statistics, the most in-demand career paths for the next 10 years are:
1 – Network Systems and Data Communications Analysts
2 – Personal Care Aides
3 – Home Health Aides
4 – Computer Software and Applications Engineers
5 – Veterinary Techs
6 – Personal Financial Advisors
7 – Makeup Artists (Why???)
8 – Medical Assistants
9 – Veterinarians
10 – Substance Abuse and Behavioral Disorder Counselors
There you have it. You’ll note it’s a pretty varied field, but that the medical and veterinary fields are well represented.
This should give you some food for thought if you are thinking of making a career change. Have a great, Debt Free weekend.
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