7 Top-Grossing Career Paths
The highest-paid careers might not earn you the most money--when you take into account the cost of education. A true top-grossing career is one that promises a high return on a comparatively low tuition investment. The following top-grossing careers offer the most direct route from a classroom to earning potentials of $100,000 and up.
With these kinds of numbers, it shouldn't take long for your degree to pay for itself--and then some.
1. Pharmaceutical or medical sales representative
With a generous commission structure and a top-selling product, you could be well on your way to six figures straight out of college. Pharmaceutical and medical-equipment sales jobs are among the top-grossing sales positions. According to the U.S. Bureau of Labor Statistics (BLS), technical and scientific sales reps reported 2009 average earnings of $81,370, with the upper 25 percent earning over $100,000.
An associate's degree with courses in biology, engineering, electronics, and business offers basic preparation for a career as a scientific sales representative. For the best opportunities, invest four years in a bachelor's degree program.
2. Investment banker
Traditionally, college graduates in search of a quick payday headed into banking. The crisis on Wall Street may have tempered these expectations somewhat, but investment banking continues to offer entry-level analysts the opportunity to earn six-figure salaries right out of the gates. The average starting salary nationwide is $56,534, but top Wall Street players still start some associates out at $100,000. The national average for all securities and financial-services sales agents, which includes investment bankers, was $91,390 in 2009.
A bachelor's degree in business, finance, accounting, or economics offers the best preparation for an career in investment banking. Eventually, you could upgrade your education with an MBA for more opportunities and earning power.
3. Marketing manager
Marketing managers help businesses turn products into revenue. This business alchemy requires a blend of communication with customers, market research, product development, and strategic pricing. Marketing managers earned an average salary of $120,070 in 2009.
A four-year bachelor's degree in business, marketing, or economics is the ticket to a marketing career. To accelerate your advancement, invest in an MBA degree.
4. IT manager
Information technology serves as the nerve center of business in the information economy, empowering workers to transmit, analyze, and store information. An IT manager coordinates the strategic implementation of technology--networks, computer systems, and databases--that makes high-level data management possible. As a reflection of the vital role they play in an organization, their average annual compensation stood at an impressive $120,640 in 2009.
A bachelor's degree in computer science, software engineering, or management information systems is the minimum requirement for a management-level job in IT.
5. Lawyer
Lawyers serve as advocates and advisors to people seeking justice in the criminal or civil courts. They prepare and argue cases before judges and juries, create contracts and other legal documents, and represent their clients in negotiations. Lawyers earned an average salary of $129,020 in 2009.
A bachelor's degree and a three-year professional Juris Doctor degree qualify you for a career as a lawyer. While this intensive schooling can stretch your finances, high-paying corporate employers offer enough starting pay to recoup your investment, and some public service employers offer student-debt forgiveness programs.
6. Engineer
Engineering holds the distinction as the highest-paying occupation for new college graduates. Armed with just a bachelor's degree, engineers in high-demand specialties can earn impressive salaries right out of college. According to the National Association of Colleges and Employers (NACE), petroleum engineers earned a starting salary of $83,121 in 2009. The 2009 national average salary for petroleum engineers was $119,960.
Petroleum engineers need a four-year bachelor's degree in engineering in order to qualify for a position in oil- and gas-well production and design.
7. Airline pilot
Airline pilots operate the highly sophisticated technology on board today's passenger and commercial aircraft. In recognition of their skill and elite training, some full-time pilots with the larger airlines earn generous salaries; the Bureau of Labor Statistics reports a 2009 national average of $117,060.
Traditionally, airline pilots qualified for their first job after completing a military or civilian flight training program. Today, most employers require a college degree. A bachelor's degree in aeronautical engineering offers the most comprehensive view of advanced flight technology, but the most common qualification for pilots is a two-year associate's degree.
The bottom line
While no educational program can guarantee a salary, these seven paths can offer big returns on your educational investment. In some cases, a four-year stint in college puts you in line for six-figure earning power and more.
Dr. Clare Kaufman is a freelance writer who covers business and education topics.
Source: Yearly salary figures are from the U.S. Bureau of Labor Statistics.
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