With increasing pressure to go to college and get a degree, there is a great risk of finishing school with student loan debt and no job prospects. As the saying goes, “find a job you love and you will never work a day in your life, because that field won’t be hiring.” Unfortunately, many people pursue degrees in industries that are shrinking or lack growth.
Before you choose to pursue a field, one of the biggest questions you should consider is: what is their prospective growth? For those money mongers out there, there is great news in the financial service industry. With incredible growth in a few of these sectors, you are sure to find yourself employed in no time.
The land of insurance is a chaotic and expensive place. With only a Bachelor’s degree, you could find yourself employed as an insurance underwriter for any of the big companies dealing with natural disasters or simple health concerns. Growth is projected to be around 6% between 2010 and 2020 with the average underwriter making close to $60,000 a year.
Currently, there were a little over 100,000 underwriters in 2010, but that number is expected to steadily rise. With an increase in natural disasters and an aging population causing health and life insurance claims, companies are likely to need more underwriters to keep up with demands.
As a nation chronically in debt, it is no surprise that financial managers are increasing in demand. Another job that requires nothing more than a Bachelor’s degree, financial management can be a great way to rake in the cash and have great job stability. Over 500,000 financial managers were employed in 2010 with that number expected to rise by 9% by 2020.
Financial managers make an average of $115,000 per year often with great benefits. The growth in financial management is primarily in the self-employment sector, with jobs set to increase by as much as 20%. If you are choosing to work for an established company, growth is likely to only increase by around 3%.
Real Estate Brokers and Agents
Following the housing bubble crisis, many brokers and agents got out of the real estate industry for good. However, if economic conditions remain stable, this sector is projected to have as much as an 11% increase by 2020. Close to 500,000 people were employed in this sector in 2010 and made an average of $43,000 per year.
On the upside, most real estate agents do not have any college experience, just basic high school diplomas. So even though your earnings are less, you do not have any loans to pay off! Most real estate agents will take a licensing test before getting into the business, but it is not required in all states.