Debt Free

Weather you're in college and you think what you're studying now will actually be the same as the degree you finally leave with or you're looking to make a career change, you'll want to consider what's going to be in demand in the near future. As with everything else, the government has departments and bureaus for keeping track of that sort of thing. There are also top private firms that track career paths. The upshot is that you actually have a list of great careers to pick from.

What is important? Well, in the grand scheme of it all, many things, but beyond things such as world peace and food for the hungry, when looking for a new career, you'll want to consider things that impact your personal economics, security and satisfaction. The three most important factors used to compile this list are:

1 – Demand - Obviously you want to choose a career that has a high demand, so you have as many options open to you as possible. You'll be less limited on where you can work and the companies you'll work for. Typically the demand for a product or service has a dramatic effect on the next item on our list, money.

2 – Salaries – After investing 4 to 6 years of your life and tens or hundreds of thousands of dollars in a college education, you'll be looking for a solid return on your investment. The same holds true if you've been in the workforce for years and are looking to make a change. In that case, you want to be sure the money will be there, although there are more reasons than money for choosing a career path. You want a job that has a high job satisfaction rating. After all, precious few careers will compensate you sufficiently for spending you life doing a job you despise.

3 – Job Satisfaction – The world is replete with tales of those leaving highly paid, high pressure careers for those with lower pay, but more job satisfaction. Remember that satisfaction means different things to different people. Some employees relish high pressure, fast paced environments, while others would just as soon spend their time in positions a little more relaxing. Typically money is a component of job satisfaction, but not everything. Factors most strongly correlated to job satisfaction in University studies include the following: autonomy, perceived control, workload, complexity, quality of coworker relationships, coworker satisfaction, and of course money.

Here then, are some of the top jobs throughout the end of the decade -

1 – Personal Finance Advisor – Hey, look at this! This should be right up the alley of those with, or frequenting PF blogs. Basically you get paid, and quite a bit too, for helping people determine what to do with their finances. You'll be matching personal risk tolerance with investment goals to help them achieve those goals without losing too much sleep. Growth in personal financial advisors is predicted to be strong throughout the decade, at over 35%. To top it off, you'll be extremely well compensated for your efforts with salaries topping out at far, far beyond $100,000/ yr.

2 – Software Engineer – The demand for those who create the stuff that makes us, alternately productive and happy, and then fist pounding lunatics, is predicted to be extremely strong throughout the decade. Software engineers make bank, too with salary ranges for the middle 50% from $63,000 to $98,000 according to Bureau of Labor Statistics. If you're an ace, you can earn well beyond $100,000 in the software engineering field, however. In 2004, the top 10% pulled in an average of $118,000, and you'd have to think that's grown a bit by now, unless those jobs have all moved to India. You can also be a consultant or temp with software engineering credentials, if flexibility is more important to you than security.

3 – Environmental Engineer – As the furor rises over the global warming & climate change thing those of you in the northeast / midwest called BS on this winter, it will do one thing; keep demand for environmental engineering professionals strong. These folks design systems to get clean water to us and get waste away from us. They also help with recycling and pollution control. You'll typically need alot of schooling for this sort of position, so maybe it's not something for those contemplating a career change. However, if you want to feel good about helping the environment and walk into a good job after college, it's a hard field to beat. You'll be looking at a wide range of compensation. Many of these positions are with government agencies, and you know what that means; lower pay, but you can't ever be fired. There are however, top paying positions available with oil and gas companies, and environmental consulting firms. Snag one of those, and you'll be in line for an $85,000 to $100,000 year job.

4 – Pharmacist – You like white coats? Great, be a pharmacist, it's the standard attire. As the population ages and our elderly have an increasing appetite for products form the pharmaceutical industry, the demand for pharmacists is predicted to be very strong throughout 2014. Not only do you get to work in a clean, whit coat, you can make some serious money as well. The average (middle 50% salary range) grocery store or hospital pharmacist grosses about $85,000 a year. You can do much better. There are stories of recent school graduates being offered positions in that range complete with hefty signing bonuses (Hey, it's like being drafted by the Yankees). Top earners make around $110,000 a year. You can also use the position as a gateway to a pharmaceutical sales career, where you'll make a nice livin' too.

You can stay debt free so much easier if the income leg of your financial traingle is strong and stable. 

 

PS - Don't forget to fill out your NCAA bracket!