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Top 3 Highest-Paying Career Fields and Choosing the Right One for You

Top 3 Highest-Paying Career Fields and Choosing the Right One for You

Highest-Paying Career Fields

First and foremost, choosing the right career path largely depends on your interests and your skills.

However, if you’re willing to work hard at a career for its monetary benefits, then it’s okay to choose a high-paying job.

Here’s a look at the three highest-paying career fields and examples of jobs within them, plus a look at the job outlook for each career field.

1. Finance

Finance is the management of large sums of money, and working in finance typically requires you to create investment plans to help increase your clients’ wealth. Those working in finance are either employed by financial firms or self-employed as independent contractors. A career in finance will more than likely require you to earn a Bachelor’s degree in finance or a related field, and some universities will allow you to focus on a specific area.

Close up of businessman is analyzing data in office

Jobs in Finance

Finance is one of the broad career fields with a variety of different career paths. Some of the most common career paths lie in accounting, banking, and insurance. Other career paths focus more on investing, such as in stocks and real estate. Another area is financial planning, which involves creating a plan for an individual’s finances or the finances of a business.

Job Outlook and Salaries

The job outlook for financial analysts looks pretty good, with the U.S. Bureau of Labor Statistics stating a 9% increase, as of 2021. Of course, there may be slight differences in other financial careers such as those in banking, but overall the finance sector is expected to grow. The median pay for a financial analyst is over $95,000 per year, with the highest-paid individuals in finance earning as high as $245,000 per year.

2. Law

It’s probably no surprise that a career in law is one of the highest-paying careers in the U.S. The three types of careers in law involve attorneys, counsels, and lawyers. Lawyers are employed in law firms, whereas counsels are employed by companies or organizations. Attorneys are also employed in law firms, and they can represent clients in court.

Justice and law conceptmale judge consultation and legal concepts lawyers

Jobs in Law

There are many different types of jobs in law that you can pursue if you choose this career path. No matter which career path you choose, you’ll have to earn your Bachelor’s degree in pre-law, political science, criminal justice, or a related field before attending law school. Attorneys must pass the Bar exam before they can begin practicing law in court. Examples of different types of lawyers/careers in law include:

  • Personal injury lawyer
  • Immigration lawyer
  • Family lawyer
  • Corporate lawyer

Job Outlook and Salaries

According to the BLS, lawyers and those pursuing a career in law can expect to see a 10% increase in jobs over the next decade. The median pay for lawyers in general is around $128,000 per year, whereas the highest-paid lawyers earn around $264,000 per year. The salary, as with most salaries in the U.S., will largely depend on what type of lawyer you are, your experience level, and where you’re employed.

3. Medicine

The medical field (or healthcare, as it is often referred to) is the largest employer when it comes to different job industries. It’s also one of the most important fields. There are a wide variety of careers available in the medical field, with various levels of education required ranging from an Associate degree to a Doctor of Medicine (MD). However, when it comes to the highest-paid individuals in healthcare, it’s definitely those who hold an MD or other advanced degree.

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Jobs in Medicine

The highest-paying jobs in medicine are held by physicians (or doctors). Some of the most common physician titles include urgent care physician, surgeon, pediatrician, OB-GYN (obstetrician-gynecologist), internal medicine doctor (including cardiologists, endocrinologists, nephrologists, oncologists, radiologists, etc.), and family medicine doctor. Other common job titles are physician assistant and nurse practitioner.

Job Outlook and Salaries

The BLS projects a slower-than-average increase in jobs over the next decade, but this doesn’t mean that it will be impossible to find a job in medicine. Again, healthcare is one of the most important job fields because the world is always going to need doctors and other healthcare professionals. If you’re a physician looking for a job, look to niche job sites to conduct an urgent care physician job search or other common job searches. As for salaries, the median annual salary for most physicians and surgeons is $208,000.

Again, you should always choose the career path that most closely aligns with your passions, interests, and skills. If any of these high-paying career fields strikes your interest, then they are worth pursuing.

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