November 21, 2013
Children are often asked what they would like to be when they grow up. With the usual exclamations of ‘Astronaut! Doctor! Teacher! Engineer!’ topping the list and with most kids aspiring to pursue mainstream professions they see their parents or family members in, we barely question their choices. After all, these professions have their specific success stories. But will these mainstream careers be as popular as they are now in the future or will others replace them? With new developments in science, technology, and medicine every day, new occupations emerge all the time.
So what does the future hold? What jobs do ‘futurologists’ predict will be THE best paying jobs of the future? Based on today’s changing trends and future predictions, here’s what they predict:
Using advanced mathematics and statistics, actuaries analyze the financial costs of risk and uncertainty for consulting firms, banks, insurance companies and the government. According to US Bureau of Labor Statistics (BLS), the employment outlook for actuaries is expected to increase by 27% from 2010 to 2020, a growth rate which is faster than the average of all occupations. Besides being mostly employed by insurance companies, many industry insiders believe that actuaries will make way into the medical industry in the future as well. New government regulations and changes in healthcare laws will also build up demand for consulting actuaries who evaluate healthcare plans for companies.
2. Personal Financial Advisors:
Personal financial advisors are responsible for giving financial advice and assisting people with their investments, taxes, and insurance. According to BLS (Bureau of Labor Statistics), the employment of personal financial advisors is expected to grow by 32% from 2010 to 2020, which is much faster than the average of all other occupations. Growth in field is mainly attributed to the aging population; as “large numbers of baby boomers approach retirement, they will seek planning advice from personal financial advisors” (San Diego Union Tribune). The trend for hiring personal financial advisors will also continue as state cuts back pensions and retirement funds, leading to a demand for good financial planning by individuals.
3. Registered Nurses:
You cannot lose if you bet on the Healthcare sector. Registered nurses (RNs) provide direct patient care and coordinate different patient activities, such as educating patients and the general public about various heath conditions and providing emotional support to patients and their family members. According to BLS, the employment of RNs is expected to grow by 26% from 2010 to 2020 and employment opportunities are deemed excellent as “ to attract and keep qualified nurses, hospitals may offer signing bonuses, family-friendly work schedules, or subsidized training”.
4. Accountants and Auditors:
Almost all businesses use accountants to manage all their books and financial statements. According to BLS, employment of accountants and editors is expected to grow by 16% from 2010 to 2020. The increased globalization and international trade will lead to a continued demand for accounting expertise. Certified Public Accountants (CPA) would have more lucrative opportunities owing to the advanced nature of their accounting qualifications.
5. Management Analysts:
If managers make the right decisions, the organization remains profitable. Management analysts, also called management consultants, advise managers on how to make their organizations more efficient and profitable through increased revenue and reduced costs. According to BLS, by May 2010 and employment of management analysts is expected to grow by 22% from 2010 to 2020.
6. Computer Applications Software Engineers:
New software applications are in vogue nowadays and so software developers and engineers are in constantly high demand. As the mobile industry churns out a new model every few days, and advanced computer technologies take the centre stage, computer applications software engineers have an occupation that comfortably makes up the top 10 jobs of the future. According to BLS, the employment of software developers is expected to grow 28% from 2010 to 2020.
7. Physicians and Surgeons:
Physicians and surgeons form the backbone of any medical profession as they perform the vital task of diagnosing and treating injuries and various illnesses of their patients. The BLS indicates that this sector is expected to grow by 24% from 2010 to 2020.
8. Computer Systems Analysts:
Good inter-office communication is essential for the smooth running of an organization. Computer systems analysts make recommendations to management to operate efficiently as well as build and manage different computer networks for companies to ensure an efficient inter-office communication and document sharing process. According to BLS, the employment of computer systems is expected to grow by 22% from 2010 to 2020.
9. Market Research Analysts:
Market research analysts form an important link between the company and the consumers by helping companies what consumers want. Market research analysts study the local, regional and even the national demographic and other market conditions to identify potential sales of a product or a service. Market research analysts will be in demand in the next few years as companies grow increasingly global and venture into new areas and cater to new audiences. According to BLS, the employment of market research analysts is expected to grow by a whopping 41% from 2010 to 2020.
10. Civil Engineers:
With a continuous population growth and a need to constantly rebuild infrastructure and ensure good maintenance of bridges, road, levees, dams etc, civil engineers will always be in demand and the occupation will maintain a position in the top 10 jobs of the future. According to BLS, the employment of civil engineers is expected to grow 19% from 2010 to 2020.
Kim Lee is an online education and career reporter in college and has been working as a freelance writer for Excite Education.