Become Millionaire Faster: 10 Professional Careers to Choose
According to research published by Money-Mic, the average income of a worker in the United States is just over $48,000 a year.
Assuming this is your income and your goal is to be a millionaire by saving a little over 10% (i.e. $5,000) and investing it at a rate of 10% per year, it would take you over 55 years to reach your first million dollars.
This is quite a huge amount of time to become a millionaire.
So if you want to be a millionaire you could quickly consider those careers that ensure a higher level of income, a better quality of life and of course, many years less work to reach your financial goal.
According to data from the U.S. Bureau of Labor Statistics, most of the better paid careers are in the medical field and here’s the list of career options:
10. Sales administration
A sales manager is responsible for leading teams and sales representatives. Not only do they set sales goals, but they also analyze data, train their teams and generate strategies to motivate them.
The income will depend a lot on the industry you are in. On average, the annual salary is $130,400.
An important factor is the commission, as this can increase your income.
9. Financial Management
The financial management of a company ensures that there is money to maintain, invest and grow a business. The more you deepen your knowledge in a specific area, the better your income will be.
The average annual salary is $134,330.
The big problem with a law degree is the cost of education. However, litigation and representation of individuals and corporations will always be good business.
A very important factor to take into consideration is that the number of graduates is usually greater than the number of jobs available, which makes it difficult to get a job.
The average annual salary is $136,260.
7. Aeronautical engineer, pilot or co-pilot:
While this race can make you a millionaire faster, a driver faces a stressful environment with great risks and complications. In addition, there is great competition from new low-cost airlines, which has affected the benefits of these professionals.
Its estimated annual income is $136,400.
Digital marketing is a $62 billion industry. The functions of a marketing professional include:
- Estimate the demand for products and services created by organizations
- Develop pricing strategies to maximize business profits
- Ensure end customer satisfaction through value propositions.
In short, business promotion, both physical and digital, will continue to be a fundamental pillar of its growth strategy.
The average salary of marketing professional is $140,660 per year.
5. Systems and IT engineers
The world of digital business has been growing in recent years. The growth of information stored in the cloud, plus the development of software and applications, has created a strong demand for this career.
A computer manager can be earning an average of $141,000 a year.
This does not include independent work that can be done in different areas. Today the vast majority of companies and businesses need to be present online, and for this they need an engineer with computer skills.
4. Managers in the areas of engineering and architecture
The boom in the construction of real estate projects has increased the demand for this type of professional. Not only in the management part, but also in the design and administration of works.
The average salary is $141,650. Unfortunately, its projected growth for 10 years is only 2%.
3. Oil engineer
The main function of an oil engineer is to design and develop methodologies to extract oil and gas below the surface of the earth. In other words, the oil industry depends heavily on these professionals.
Although oil prices have been falling in international markets, the average wage for this race is $149,590. Growth is expected to be 10% in 2024.
Unlike the other university degrees, the projected growth in the income of these professionals is the highest, with 18% by 2024.
The average salary of a dentist is 172,350, while an orthodontist who has specialized in treating certain diseases has an income of $221,390.
Different specialized fields, such as internists, surgeons, anesthesiologists, have different levels of income depending on their level of experience and complementary studies. Ofcourse getting into a medicine career requires lot of hard work and perseverance and money as well.
The average salary is $196,520.
In the case of internists, they have a wider acceptance, since diseases or injuries to vital organs are treated without surgery, which guarantees the demand for their work.
Revenue growth for this career option is projected to be 14% by 2024. Finally, here is a list of other income by medical specialty:
Obstetricians and Gynecologists: $222,400
In short, medicine is one of the careers that can make you a millionaire faster. However, you should think about what you like to do and what lifestyle you would like to live. Additionally, remember to save and invest, as a salary alone, no matter what your level, will not make you rich.