Every industry has its own pros and cons, but some make significantly more money than other fields. When choosing a career or business niche, it’s important to know what you’re getting yourself into. After all, for many people money is the primary factor they consider when it comes to what they do with their life. Without further ado, let’s get into the 12 best fields to make money that have a proven track record (in no particular order)!
1. Technology
This should be an obvious pick for this list, and it’s even the field I chose for my career. There are a plethora of niches within technology, and many of them can make a great income. These days IT is crucial to just about every business, even a lot of small businesses need some IT staff or consultants to carry out that role. Beyond that, a lot of tech companies see absolutely astronomical growth each year. You’d be surprised how lucrative a tech startup can actually get.
If you’re looking for some of the hottest spots in tech, check out:
- Software development
- Automation
- Big data
- Systems
- Cybersecurity
- Networking and cloud computing
- Machine learning
2. Medicine
There are a ton of good options in medicine. After all, many of the highest paid professions are in the medical field. Usually working in medicine and healthcare will require a fair amount of schooling. On top of that, you can expect to work long hours and have to take on shift work. That in and of itself isn’t a horrible thing, but it is the downside to medicine.
So, if higher education and a high workload aren’t for you, skip it. That being said, in addition to the money, a huge perk of working in any medical field is that you can often help people in a very direct way. There are pros and cons to it, but it’s definitely an area that’s worth taking a look at.
3. Renewable Energy
Renewable energy has a lot of potential for the future. Not only is there a search for the “next big thing” or refining what we currently have as much as possible, but there is a lot of interest in this sector from investors. There are a lot of bright minds working on this, and even the government is backing up companies financially for it. If this is something that interests you, it could be a worthwhile pursuit for a long time (the industry isn’t going anywhere any time soon).
4. Oil
This is similar to renewable energy in the sense that there is a strong need for it, and people are willing to pay top dollar. After all, petroleum engineers are some of the top paid professionals – period. There is a ton of money in this industry, and a ton of opportunities out there for everyone.
5. Finance
These days finance isn’t one of the more innovative industries, but it’s definitely one of the most profitable. Who would’ve thought that the people who manage money end up making a lot of money? While there is a lot of money to be had, there is also a lot of burnout in the field that you would be wise to avoid. So, it’s a great industry for a lot of people, but remember not to bite off more than you can chew with your workload.
6. Entertainment
Most people just view the entertainment and media industry from a consumer’s standpoint, but there is a lot of money to be made here for people who create content. Think of everything like video games, television, books, movies, and even YouTubers or Twitch streamers.
There have been a lot of waves in this industry in recent years, and if you enjoy creating content for others to enjoy it can be incredibly rewarding. There is a lot of innovation going on, so if you can think of a creative way to do something new (or something old with a twist), it has a good chance of sparking a lot of interest.
7. Real Estate
Given the rate that home prices are currently skyrocketing, I’m sure we can all recognize that this industry is doing well at the moment. On top of that, real estate isn’t the hardest industry to get into, so if you focus for a few months you could find yourself a job in it!
Another thing to consider is that it’s a field where what you get out of it is based heavily on what you put in. So, if you’re a go-getter and can push yourself to be highly competitive, then you can make a great living. Some people say it can be a feast or famine industry, and it can, but generally only when the industry is doing poorly as a whole (in which case everyone is worse off). In general, I wouldn’t fret about that too much.
8. Construction
This is another old industry, but it’s still around and kicking! It had some hard times due to previous recessions, but it’s back and in more demand than ever. If you don’t believe me, think about all of the new construction you’ve had to deal with in your day to day life and commutes. Even if you live a ways out from large cities, you have still probably noticed a lot of it. Infrastructure is expanding everywhere, and a lot of money is changing hands in the process. Also, due to the nature of the field, there is usually a lot of manpower involved, so employment can be found regularly for it.
9. Insurance
I think this one surprises a lot of people, but the insurance industry has proven to make a lot of people millionaires. Now, there is some variance based on type of insurance (even this field has niches), but overall there is a lot of opportunity in it.
10. Legal Services
What more needs to be said? Everyone knows lawyers generally do well, and the top in the field are definitely affluent. Like the medical industry, there is a lot of education required. So, if you’re okay with playing the long game and spending years in school, the potential reward is outstanding.
11. Consulting
Any sort of consulting service can make a ton of money, especially if it is management consulting. I’m sure you’ve heard of the high pay in the industry, but it also has long hours and high turnover. If you can dedicate yourself to this type of work, you can definitely make a killing.
12. Educational Services
No, being a teacher won’t make a ton of money. However, having strong skills and being able to teach that to others in an easy to understand way is a valuable skill in an of itself. On top of that, building any platform to teach others the skills they want to learn is bound to make a lot of money.
Conclusion
I hope you enjoyed this article and learned about several industries. Remember, it’s more important for you to enjoy your chosen field (at least somewhat) and become good at it. If you don’t take time to develop your skills, you won’t see the competitive income you want. If you have any other industries worth noting, let us know in the comments!
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