Another Top-10 List: The Fastest Growing Occupations by 2020 — And a Bonus Top 10 List: The Top Paying Most Common College Majors

An earlier blog discussed the continuing improvement in the hospitality and hotel industry. A father of a son just graduating from hospitality management school responded back regarding the good news for the son’s employment prospects. In just a few hours, several people have asked, “ What should I tell my daughter/son/grandchild to major in or study to assure a job when they graduate?” This is a completely different question than “What should they major in to make the most money?”

If you are looking merely at the largest growth in numbers for a specific occupation, then a recent article by salary.com answers that question. The study was based on an analysis completed by the Bureau of Labor Statistics which forecast the percentage growth in jobs by occupation by 2020.

The following table contains the top-10 occupations with the forecast greatest increase (and it’s actually the top 12 since they report a tie for seventh and also included an 11th). You will notice a recurring theme of health-related positions, all due to an aging boomer population and boomer’s children now having their own kids.

8-20-13 graph1

Do not take each of these as an apples-to-apples comparison, since some salaries are entry level and others for senior level positions. To read the entire article click: http://www.salary.com/11-fastest-growing-jobs/

So what will be some of the top income jobs by 2020? The base study referenced in the above article was created by the U.S. Bureau of Labor, and compared ultimate growth in jobs from 2010 through 2020. But pay is another factor. A study completed by monster.com used information from the PayScale.com salary database and the 20 most common college majors (per the U.S. Department of Education). They looked at pay scales five to eight years after graduation—a pretty good estimate of incomes by 2020.

Here are the top 10 based on current most common majors and best pay, five to eight years after graduation. Even within a major, however, the route taken can significantly impact an individual’s income. In accounting, for example, five to eight years after graduation, while an internal auditor earnings $85,900, a financial controller makes $77,000 and a CPA $59,900, on average.

8-20-13 graph2

To read the entire monster.com report and added details, click http://career-advice.monster.com/salary-benefits/salary-information/best-paid-jobs-by-major/article.aspx

Maximizing salary may not be the most satisfying for many individuals, but there is a massive range of options within almost every discipline.

Ted

Leave a Reply