Thursday, 19 November 2020

U.S.: 8 Jobs That Can Make You a Millionaire (before Covid-19!)

 

Can you get rich by working for someone else? Emil Anton lists 15 Jobs where you can earn your millions! We list the top 8 – remember it is before Covid-19!

Billionaire is the new millionaire, so how difficult is it today to become a millionaire? Shouldn’t be that hard should it? Based on research before Covid-19 in the United States, here are 8 jobs (in the U.S.) that can make you a millionaire:

Number 1: Plastic Surgeon & Specialized Doctors

Salary of plastic surgeons: $250,000 and up.

Highest paid doctors: radiologists, cardiologist and orthopaedic surgeons: Average $400,000 per year. As you may expect, Neurosurgeons, the brain doctors, also get paid close to $400,000 per year.


Number 2: Corporate Lawyer

Salary: $200,000 and up.

If you are good, you can be a millionaire 5 years into your corporate job. All you need is to be productive for the corporation you work for. Out of all the specializations here are the 3 most lucrative:

·       Mergers & Acquisitions

·       Intellectual Property

·       Patent lawyers

Basically, you need to be a lawyer for a large financial or tech company. The higher the value you can bring to them or save them from having to pay, the higher your salary.

Number 3: Architect


Average salary: $100,000

Good architects earn over $250,000 per year.


Source: https://frugalexpert.com

Number 4: Pilots & Air Traffic Control


Average salary: $100,000

Average time to $1 Million: Less than 10 years

But now with Covid-19, this may not be possible.

 

Number 5: Cyber Security


Application Security Engineer: $250,000 per year

Everybody else: around $100,000 per year

We are living in the most connected time in history, everything about you that makes you, you is online; which means, there’s a lot of money to be taken out of the system.

Last year, the personal data of over 140 million Americans was stolen from a credit score company called Equifax. Names, addresses, social security numbers, banking information, everything you would need to steal someone’s identity.

Big tech companies would not recover after a breach like that so they’re paying really good money to anyone who can bulletproof their tech.

The same goes with big pharma companies as well as anything that has to do with intellectual property, patents, research & development. A hack could cost the company billions. Even at an individual level it’s never been more important than now to protect your information.


Number 6: Marketing managers

Average salary: $150,000

Chief Marketing Officer: Over $250,000

A great marketing executive can make or break a great company. Just look at the rise of Old Spice. The company raised from the ashes through a smart marketing campaign. A 75 year old company, more than doubles sales in a single year.

But marketing isn’t all just about advertising, it’s about the way the product is designed, the way people perceive it, the way it fits in the market and how it differentiates from the competitors.

A typical Marketing director for companies like Pepsi or Coke earn ballpark of 250,000 dollars per year.

 

Number 7: High-End Sales

Average salary: $200,000

If you can sell, you’ll do great anywhere. A good salesperson will always find work. Those who are really good at what they do may choose to move towards high ticket items.

Why bother selling cars in a dealership when you could be selling property in Monaco? The % might be smaller, but the pie is definitely bigger.

Here’s how much you can earn if you know what you’re doing:

·       Real estate sales: Over $250,000 per year

·       Pharmaceutical sales: Over $200,000 per year

·       Software sales: Over $150,000 per year

 

Number 8: Software Developer

Average salary: $150,000
Stock on the company

The age of start-ups has cooled down a bit. A few years ago everyone seem to be starting a tech company, may have failed and got back to working corporate jobs now.

But that period put the emphasis of just how valuable someone who can make things happen actually is. Jobs wouldn’t have been Jobs without Wozniak.

Software developers have a unique advantage where they can ask for a percentage of the company in exchange for their services. If the company does well, the developer gets rich in the process.

Then there others like investment bankers, hedge fund managers and new media developers. These people have high bonuses, reward schemes that massive emoluments. But talent and ability are key to higher returns. Tell us what you think for Malaysia, especially in the Covid-19 crisis.

 

Reference:

15 jobs that can make you a millionaire, Emil Anton 6 April 2020 (www.alux.com)

 

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