Children are often asked what they would like to be when they grow up. With the usual exclamations of ‘Astronaut! Doctor! Teacher! Engineer!’ topping the list and with most kids aspiring to pursue mainstream professions they see their parents or family members in, we barely question their choices. After all, these professions have their specific success stories. But will these mainstream careers be as popular as they are now or will others replace them? With new developments in science, technology and medicine every day, several new occupations are emerging while many go obsolete.
So what does the future hold? What jobs do ‘futurologists’ predict will be THE best paying jobs of the future? Based on today’s changing trends and future predictions, here they are:
Using advanced mathematics and statistics, actuaries analyze the financial costs of risk and uncertainty for consulting firms, banks, insurance companies and the government. According to US Bureau of Labor Statistics (BLS), the employment outlook for actuaries is expected to increase by 27 per cent from 2010 to 2020, a growth rate which is faster than the average of all occupations. It is definitely one of the top 10 jobs of the future and actuaries earned a median salary of $87,650 in May 2010. Besides being mostly employed by insurance companies, many industry insiders believe that actuaries will make way in the medical industry in the future as well. New government regulations and changes in healthcare laws will also build up demand for consulting actuaries who evaluate healthcare plans for companies.
2. Personal Financial Advisors:
Personal financial advisors are responsible for giving financial advice to people and assisting them with their investments, taxes and insurance etc. According to BLS (Bureau of Labor Statistics), the employment of personal financial advisors is expected to grow by 32 percent from 2010 to 2020, which is much faster than the average of all other occupations. Growth in field is mainly attributed to the aging population; as “large numbers of baby boomers approach retirement, they will seek planning advice from personal financial advisors” - (BLS). The trend for hiring personal financial advisors will also continue as the state cuts back pensions and retirement funds, leading to a demand for good financial planning by individuals. In May 2010, according to BLS, the median annual salary for personal financial advisors was $64,750.
3. Registered Nurses:
You cannot lose if you bet on the Health Care Sector. Registered Nurses (RNs) provide direct patient care and coordinate different patient activities, besides educating patients and the general public about various heath conditions as well as providing emotional support to patients and their family members. According to BLS, the employment of RNs is expected to grow by 26% from 2010 to 2020 and employment opportunities are deemed excellent as “ to attract and keep qualified nurses, hospitals may offer signing bonuses, family-friendly work schedules, or subsidized training”.
4. Accountants and Auditors:
Almost all businesses use accountants to manage all their books and financial statements. According to BLS, employment of accountants and editors is expected to grow by 16 per cent from 2010 to 2020. The increased globalization and international trade will lead to a continued demand for accounting expertise. Certified Public Accountants ( CPA) would have more lucrative opportunities owing to the advanced nature of their accounting qualifications. According to BLS, the median annual wage of accountants and auditors was $61,690 in May 2010.
5. Management Analysts:
If managers make the right decisions, the organization remains profitable. Management analysts, also called management consultants, advise managers on how to make their organizations more efficient and profitable through increased revenue and reduced costs. According to BLS, the median annual salary of management analysts was $78,160 in May 2010 and employment of management analysts is expected to grow by 22 percent from 2010 to 2020.
6. Computer Applications Software Engineers:
New software applications are in vogue nowadays and software developers and engineers are in constantly high demand. As the mobile industry churns out a new model every few days, and advanced computer technologies take the centre stage, computer applications software engineers have an occupation that comfortably makes up the top 10 jobs of the future. According to BLS, the median annual salary of computer applications software engineers was $87,790 and in future, the employment of software developers is expected to grow 28 percent from 2010 to 2020.
7. Physicians and Surgeons:
Physicians and surgeons form the backbone of any medical profession as they perform the vital task of diagnosing and treating injuries and various illnesses of their patients. BLS (Bureau of Labor Statistics) states that this sector is expected to grow by 24% from 2010 to 2020 with the median annual pay being $166,400 in May 2010.
8. Computer Systems Analysts:
Good Inter office communication is essential for the smooth running of an organization. Computer systems analysts make recommendations to management to operate efficiently as well as build and manage different computer networks for companies to ensure an efficient inter office communication and document sharing process. According to BLS, the employment of computer systems is expected to grow by 22% from 2010 to 2020 with the median salary of computer system analysts being $77,740 in May 2010.
9. Market Research Analysts:
Market research analysts form an important link between the company and the consumers by helping companies what consumers want. Market research analysts study the local, regional and even the national demographic and other market conditions to identify potential sales of a product or a service. Market research analysts will be in demand in the next few years as companies grow increasingly global and venture into new cultures and cater to new audiences. According to BLS, the employment of market research analysts is expected to grow by a whopping 41 per cent from 2010 to 2020, with the median annual salary of market research analysts being $60,570 during May 2010.
10. Civil Engineers:
With a continuous population growth and a need to constantly rebuild infrastructure and ensure good maintenance of bridges, road, levees, dams etc, civil engineers will always be in demand and the occupation will maintain a position in the top 10 jobs of the future. According to BLS, the employment of civil engineers is expected to grow 19 percent from 2010 to 2020 with the median annual wage being $77,560 in May 2010.
Kim Lee is an online education and career reporter in college and has been working as a freelance writer for Excite Education.