Advances in technology, changes in consumer habits, an aging population, and a higher degree of offshore jobs are some of the factors that changing today's job market. As employment trends change, the jobs that were once popular quickly become obsolete. This happened to people who worked on the printing press after desktop publishing came around in the 1980s.
It doesn't matter what your position is—everyone must keep up with changes in the labor market. Those who don't risk becoming unemployed. The following is a list of some of the hottest careers and their median pay. Information about these 12 occupations and the growth expected in these fields between 2020 and 2030 is derived from the Bureau of Labor Statistics (BLS), which is a division of the U.S. Department of Labor.
- Advances in technology, changes in consumer habits, an aging population, and a higher degree of offshore jobs are some of the factors that changing today's job market.
- High-paying jobs in the business and finance sector include personal financial analysts, management analysts, financial analysts, financial examiners, and budget analysts.
- If you want a great salary in the education sector, consider working as a post-secondary teacher or an instructional coordinator.
- Health care jobs such as nursing (anesthetists, midwives, and nurse practitioners), physician assistants, and veterinarians will be in demand.
- Computer and information research scientists, and airline and commercial pilots are among the highest and hottest jobs in the technology and transportation sectors.
Business and Finance
Roughly 785,000 positions are expected to be created in this industry, which represents a growth rate of about 8%. This is average growth compared to other occupations. The rise in jobs in the business and finance sector is primarily due to increased globalization, growth in the economy, tax laws, regulations, and data/market research.
Personal Financial Advisors
Personal financial advisors assist clients by determining and preparing to meet each client's financial goals, including investment strategies and retirement planning. This field can expect to see a 5% increase in employment, with over 21,500 positions opening up each year.
These professionals normally need a bachelor's degree in finance, economics, or another related field. Graduating with a master's degree and additional certification can increase your earning potential. The average annual median salary for a personal financial advisor as of 2020 was $89,330.
Management analysts study, evaluate, and implement various procedures and policies to help a company's management perform efficiently and effectively. Because management analysts can help companies operate more efficiently—and therefore, become more cost-effective—this position is in demand and should see a 14% increase in employment, with 124,400 job openings on an annual basis until 2030.
The minimum educational requirement is a bachelor's degree. These individuals also need a number of years of work experience in the field. You can expect to earn an average salary of $87,660 per year in the role of a management analyst.
Financial analysts advise corporations and individual investors and help them make important decisions about their capital. They often provide investment decisions in order to help them make a profit. The job outlook for financial analysts will be as fast as the average—roughly 6% growth with 41,000 jobs opening up until 2030.
Financial analysts can work as portfolio managers, fund managers, financial risk managers, and rating specialists. It's important to have at least an undergraduate degree in finance, economics, or another related field. Work experience is also important in order to be successful in this field. Financial analysts earn on average $83,660 each year.
Financial examiners ensure and enforce compliance with laws and regulations pertaining to financial, securities, and real estate transactions. With increased awareness of fraud and the need for regulatory compliance, financial examiners are set for an estimated 18% increase in total employment, with over 70,800 positions.
Most financial examiners work full-time in finance or insurance companies, along with departments in state and federal governments. An undergraduate degree and a background in accounting are recommended. Financial examiners earn an average annual salary of $81,430, which translates to about $40 an hour.
Budget analysts earned an average median salary of $78,970 or $37.47 per hour in 2020. This job field is expected to grow slower than average compared to other occupations, though, at a rate of 5%. This translates to 4,300 job openings per year until 2030.
These analysts often find work with governments, higher educational institutions, and private companies, providing them with ways to help manage and plan their finances. An undergraduate degree, along with a background in accounting, economics, and statistics is highly recommended.
The Bureau of Labor Statistics provides empirical evidence that helps shape economic policy.
Job growth in the education sector is expected to grow by about 10% between the 10-year period noted above. This is about as fast as the average of all occupations. Demand for educators is expected to increase during this period because of the high number of students that are expected to enroll in schools across the country. The BLS notes, though, that budget constraints may affect the demand for and hirings of support staff.
Post-secondary teachers work in educational institutions such as vocational schools, academies, community colleges, and universities. They often perform a combination of both teaching and research. Job growth is expected to increase by 12%—faster than average—with 139,600 jobs being available.
The training and background for people in this field depend on their area of expertise. Most teachers have a doctorate even though a graduate degree is sometimes sufficient to gain employment at a school. Other institutions require a combination of education and work experience when considering candidates. The average annual salary for postsecondary teachers in 2020 was $80,560.
Instructional coordinators are some of the highest-paid people in the education sector. They earned a median annual salary of $66,970 in 2020. Demand for these professionals will lead to 20,400 new jobs per year until 2030, which translates to a growth rate of 10%.
The majority of coordinators work in different school settings, from elementary to professional schools. Others find employment working in support services for various levels of government. In order to qualify, you'll need at least a master's degree and work experience, preferably in administration or teaching.
Data released by the BLS is unbiased and among the key economic indicators of the U.S. economy. The agency ensures that the information it provides is accessible and accurate to analysts and the general public.
The BLS expects employment in this sector to grow by 16%, adding as many as 2.6 million jobs. This growth is expected to be faster than the average for all other industries. The category is headed up by a number of professions that require a specialized doctoral or professional degree. This list includes physicians and surgeons, dentists, podiatrists, pharmacists, and optometrists. But there are many other options to consider without the need for advanced study.
Nurse Anesthetists, Nurse Midwives, and Nurse Practitioners
Primary and specialty health care is the focus for this category of practitioners. These professionals work in hospitals, doctors' offices, and other health clinics. The requirements for those who want to work in this field include a graduate degree along with state licenses. These health care practitioners must also receive national certification by passing an exam.
The average annual earning potential for a nurse anesthetist, nurse midwife, and nurse practitioner is $117,670. These individuals will be in high demand, with the employment growth rate at 45%, which exceeds that of other occupations. About 29,400 job openings are expected per year by 2030.
Physician assistants provide health care services that are similar to those provided by physicians. These services are supervised by a physician. A graduate degree from an accredited school and license is required in order to work as a physician assistant. These professionals find work in doctors' offices, hospitals, and health clinics.
Demand for physician assistants has increased with an attempt to provide timelier, cost-effective patient care. The projected job growth indicates a 31% increase in positions, with an estimated 12,200 job openings projected each year until 2030. Physician assistants earned an average of $115,390 each year.
Veterinarians are responsible for the health care of pets, livestock, and other animals. By doing so, they also ensure the well-being of individuals. The majority of vets work in private clinics and hospitals while others find employment in labs, zoos, farms, and classrooms.
In order to become a vet, you'll need to earn a degree in veterinary medicine as well as a state license once you graduate. A total of 4,400 jobs are expected to open up in the field each year until 2030. This translates to a growth rate of 17%—much faster than average compared to other occupations. As of 2020, vets earned about $99,250 per year.
Computer and Information Technology
Growth in employment in the computer and information technology sector is expected to be faster than in other industries. The BLS projects job growth to be around 13% between 2020 and 2030, which will likely result in 667,600 more jobs. This growth rate is attributed to the increased demand for cloud computing services, big data collection/storage, as well as information security.
Computer and Information Research Scientists
Professionals in this field are integral to the design and innovation of new and existing technology in the computing industry and often find work at various levels of government. Job growth is expected at a rate of 22% with as many as 3,200 job openings per year until 2030. This growth rate is much faster than occupations in other industries.
You can expect to earn an average median salary of $126,830 as a computer and information research scientist. Before you can command this high salary, you should have at least a master's degree in computer science or a similar field, although some employers may only need an undergraduate education.
Transportation and Material Moving
Roughly 1.1 million jobs are expected to be created between 2020 and 2030. This equates to a growth of about 9% during that period, which will be driven by demand for material movers who will be needed in virtually every sector of the economy. Transporting freight and keeping the supply chain moving will also require truck drivers.
Airline and Commercial Pilots
Employment in the airline industry is expected to grow 13%, which is faster than average than other occupations. As many as 14,700 jobs will open up each year until 2030. This demand is attributed to a retiring workforce and because of people who end up transferring to other jobs.
Airline and commercial pilots earn as much as $130,440 per year. Successful individuals in this field start out as flight instructors and commercial pilots. Requirements include a commercial pilot's license. An undergraduate degree and a certificate from the Federal Airline Authority also help.
The Bottom Line
Changes in consumer and employer needs create a continuously evolving job market. Staying on top of current trends and gaining the necessary schooling and/or experience can help workers ensure they will be able to not only secure a job when the time comes, but that their career choice will enjoy some longevity.