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What professions will have the greatest salaries in 2030? Which occupations will see the biggest increase in demand?
These are questions you should be asking to prepare for the future employment market.
Although we can never know what job markets will look like in five years, numerous indicators help give us a better picture of what's coming. If you're wondering what the highest-paying jobs in 2030 might be and how to get one of those jobs, this article is what you need.
I'll cover several subjects related to future job prospects, including advice on choosing a career path that will lead to success in 5 to 10 years. Keep in mind that data collected here is reflecting the job market on November '22. Let's get into it!
The Top 5 High-Paying Jobs That Are Growing in Demand
The best way to predict which occupations will be the highest paying in 2030 is to look at the fastest-growing job types.
The Bureau of Labor Statistics (BLS) publishes data on Occupational Employment Projections (OEPs) for every profession. We can use this data to pinpoint the top five occupations that will see the biggest demand growth.
1. Registered nurses
OEPs project a whooping ~46% increase in demand for registered nurses. This is fantastic news for people who want to work in the healthcare sector but don't want to become doctors.
Registered nurses are in high demand, especially nurse anesthetists. As a result, the BLS forecasts strong growth for this profession in the next ten years.
In addition, the annual salary of nursing jobs is fairly high and is expected to stay that way throughout 2030 and beyond. We can also expect that the aging baby boomer population will drive demand for healthcare services, creating new job opportunities in the medical field and increasing wages.
2. Data scientists
Data analysts are expected to see a 35% in demand. With the rise in computer technology in 2030 and beyond, this should come as no surprise.
If you are hoping to find employment in IT, this is especially great news for you. With already high median annual wage at around $100k it is a great career choice.
3. Information security analysts
Similarly to Data scientists, Infosec analysts are expected to see a ~35% increase in demand by 2030. This is great news for anyone in IT field who is looking into being involved into Security side of the computer world.
4. Statisticians
If you are keen on gathering, analyzing and interpreting data, statistician might be a career choice for you. The OEPs predict a 32% increase in demand for anyone who might have a knack for mathematics and can make sense of the data. With already high median wage at around $95k it is a great choice.
4. Logisticians
If nothing above is ticking your boxes, you might want to have a look at career in Logistics. With not too bad ~28% predicted increase in demand for the next decade, it is an excellent career choice. The pay is slightly lower than the choice above, but the median of $77k is still putting this job as a high salary job.
Careers With the Fastest Wage Growth
The best way to predict which occupations will be the highest paying in 2030 is to look at careers with the fastest average salary growth.
The BLS publishes data on Occupational Wages (OW) to the public. Using this information, we can identify three jobs with the most rapid wage growth that you can be happy to get in 2030 and into the near future.
1. Marketing managers
Marketing managers are expected to see a 5% increase in average salary. Although marketing managers make good money right out of the gate, the BLS forecasts strong wage growth over the next five years. The future is bright for those who want to take up marketing positions like this.
2. Computer systems analysts
Along with a 10% increase in demand, computer systems analysts are expected to see a 10% increase in average salary as well. Anyone with strong analytical skills and knowledge in IT should be ready to snatch up the abundant opportunities heading their way.
3. Computer programmers
The value of computer programmers is beginning to come to light in 2030. With that, computer programmers are expected to see a 5% increase in average salary. With the skill and knowledge, it takes to work in computer programming, this increase is well deserved.
Skills That Will Rise in Demand for Jobs
The best way to predict which job skills will be the highest paying in 2030 is to look at which skills employers are currently in short supply of. This information can give us a good indication of the job skills that will be in high demand in five years.
The BLS publishes data on Shortage Indicators (SI). These metrics give us insight into which skills employers are currently in short supply of. For example, the following job skills are expected to be in short supply in 2030:
1. Computer system analysts
Computer systems analysts are expected to be in short supply. It is good news for anyone who wants to work in IT. First, it means employers will be competing for workers with these skills. And second, it means you can demand a higher salary for this position.
2. Software developers
Software developers are expected to be in short supply in the following five years. If you have what it takes to become a software developer, then this is a great career path for you to choose.
Employers will be competing for workers with these skills, meaning you can demand a higher annual salary and will find it easier to land a job.
3. General skills for the job market
Besides the previous two job positions, great employees are hard to come by. If you can enhance certain soft skills, you will be more likely to land any position you are applying for.
These soft skills for the general job market include strong communication skills, problem-solving skills, and interpersonal skills. These will increase your success rate when competing with other candidates in the job market.
Steps to Get Ready for the Job Market
The best way to predict which jobs will be the highest paying for you is to prepare for the future job market. This means getting the right education with advanced degrees and preparing for your career.
It's impossible to say exactly what job fields will be the highest paying in five years. However, skill growth increases your chances of success in any career field. Follow these steps to be more successful in today's employment climate:
1. Determine your passion
Choosing a career path that leads to high earnings is not enough to ensure you are successful. You need to love your career as well. A high-paying job, making you miserable because you are not enjoying it, is something that you should strongly avoid.
If you are not sure what comes with the job and what would actually be part of it, do seek out information on the web. One of the nice ways of finding insights into a specific career is to look for blogs of people in the career. It gives a superb perspective into daily life of people and their jobs.
2. Choose a profession within your skill set
Make sure you choose a profession that lets you play to your abilities, since using your strengths is essential to success. The better you can do your job, the more likely you will succeed.
Very often, it is easier said than done, but cross-referencing your passion with the list of occupations on the raise is your next step. Ideally, you should be able to find an occupation which will bring you joy, and at the same, it will have some level or guarantee for upcoming years. You can see the full occupational projections on the BLS site here. There is also a handy XLS file there for you to download, which is way easier to search through. Columns Employment change, 2021–31 and Percent employment change, 2021–31 are what you should be looking here to verify the career path you are about to take.
It is worth mentioning that you should probably not pick a career that is on the decline, so watch out for any negative changes in the given occupations. Apart from the mentioned above, full list of occupations, BLS publishes the list of jobs on largest declines, which might turn out to be helpful when making a career choice.
3. Consider other factors
Of course, the above list is not finite and all telling. We might want to consider other factors before choosing our career path
Of the example of important factor to consider, would be the likelihood of job being automated in the future. If possible, career path with high possibility of automation should be avoided, if you don't want to find yourself unemployed in the near future. Look online for articles about likelihood of jobs being automated, like for example this one from Research.com.
The other factor in play would be any opportunity, and sadly, it's hard to define how to best look out of it. An example would be a niche career choice. Being able to come up with a unique set of skills fulfilling a unique role is not easy to do, but once done, it can pay off very nicely. This whole topic probably requests an article by its own.
Last words
We can't guarantee what the best-paying jobs in the next 10 years will be. However, what we can do is observe present patterns and make reasonable assumptions. I'm hoping that this article will help you in making the right decision to be prepared for the future, and gives an overview of tools and ways of understanding how to choose a career path, that is right for you. A carer that can unlock you to achieve financial freedom at some point in your life, but at the same time, it can be satisfying and enjoyable.