Job hunters need to be mindful that there is always compromise between job security, career development or high pay in the job process. High paying jobs are usually at high risk for being automated or offers little growth potential over the next few years. Based on a study from WalletHub, the top 9 entry-level jobs scores well in all the three categories mentioned. CBS News had compiled their findings on 28 April 2015 to guide college students and high school seniors to consider which field to major in.
| Job | Starting Pay | Median Pay | Qualification | Growth |
|---|---|---|---|---|
| 9. Financial analyst | $51,848 | $76,950 | bachelor's degree in business, finance or related | - |
| 8. Information security analyst | $55,310 | $86,170 | - | 37% |
| 7. Web designer | $53,041 | $62,500 | know programming and graphic design | 20% |
| 6. Software engineers | $62,522 | $90,374 | bachelor's degree in computer science | - |
| 5. Environmental engineer | $57,266 | $86,340 | bachelor's degree in environmental engineering or related | 15% |
| 4 Attorney | $83,907 | $133,470 | law degree and pass a state's written bar exam | 10% |
| 3 Network Engineer | $61,744 | $91,982 | degrees in computer science or related | 12% |
| 2. Web applications designer | $54,586 | $59,000 | know developer languages such as PHP and HTML | 12% |
| 1. Training specialist | $47,621 | $55,930 | college degree and strong communication skills | 15% |
The starting annual salary and the median pay for all workers in the field are based on the latest information from the Bureau of Labor Statistics (BLS). The salary for software engineers were based on information on the employment site Glassdoor.com. Figures for network engineer and web applications designer were derived from the employment site Payscale.com. The job growth rate is projected from 2012 to 2022 by the BLS. A growth of 10 percent or higher is deemed as normal. A growth rate of 15 percent and above is consider rapid growth.
The information security analyst had the greatest potential growth of 37 percent. Their job entails a simple maintenance routine but once the system gets hacked, they will have to work round the clock to restore the system, pronto. I believe being a hacker is the best qualification for this job but there is no such thing as a certified hacker at the present moment. This may be the reason WalletHub did not list down the qualification for this job. The reason growth is not projected for financial analyst is unclear.
Growth rate for software engineers were not projected as this profession is a bit unusual. While the jobs in this field are plentiful, careers in the field may be short-lived. According to Bloomberg News, most software developers have left the profession by the time they're 40. The industry tend to favor younger engineers because of the impression that they will be more up-to-date with the latest trends.
Although the training specialist had a low income, it top because of job openings and growth potential. About one-quarter of Web designers were self-employed in 2012 but it is forecasted that employment in this field will grow by 20 percent. I believe the forecaster is expecting these self-employed individuals would grow and had the need for expansion.
My Comments
Attorney pays well. It should help the millennials out of their financial dire straits (see my previous blog). The problem is the higher pay range are for those who secured the top spots. It is a dog eat dog world for law firms bidding for the high paying job in the market.
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