Education is a significant part of our lives today and can impact our career choice and options. Consequently, more than 16 million people in the United States of America have a master’s degree.
Earning a Master’s degree has become just as common as a bachelor’s was less than two decades ago. This is because of their higher-paying nature and a sense of security that accompanies them.
Choosing a career can be a callous decision for every graduate. It determines the direction you’ll be heading in for the rest of your life.
With so many career options to choose from, it has become challenging to decide which one is the right fit for you. Hence, here are ten high-paying careers to choose from after completing your master’s.
- Hospitality and Travel Management:
Hospitality and Travel Management is an industry showing a stable and sometimes even explosive growth rate in the US.
It experienced a compound annual growth rate of 18.5% in 2021. If anything, this only makes it one of the most desirable career options. One might have a degree in hospitality, management, or business administration for this industry.
The business administration degree is one of the most highly demanded degrees in almost all desirable career options (except medicine and the like).
A general master of business administration degree gives you the required push in every career and sometimes even helps you fit right in the corporate culture.
The soft skills that help you stand out in the hospitality industry are your communication skills, conflict resolution, and patience.
Moreover, being multilingual enables you to climb the ladder two steps at a time. The average salary for a hotel or a travel agency general manager is approximately USD 29,300 annually.
A career in sales has a great scope as well. Every consumer goods company requires a salesperson to persuade clients into buying the goods and services launched by their company.
It nearly touches every industry, and if you have the suitable skillset, you might turn this job into an enriching career.
The job requirement is to negotiate prices, provide a cost-benefit analysis to the consumer, and take payments for the goods and services.
To be a salesperson, you have to be confident, enthusiastic, and good at networking.
There is an excellent chance of growth in this field. The growth rate for Sales is projected to grow 7% from 2020 to 2030.
The average salary for a salesperson is USD 28,000. However, there is a chance of earning more through commission.
- Supply chain and Logistics:
A job in the supply chain requires you to oversee the production and transportation of products from the start to the end.
You’ll have to work with the suppliers constantly, and doing this requires you to be calm, patient, and have excellent communication skills. Many large retailers offer graduation schemes for supply chain and logistics.
A career in the supply chain is fast-paced, and to be able to score it as a career; you should gain some experience through a part-time job in the retail sector besides a degree in business administration.
A salary of a typical supply chain manager is approximately USD 36,000. Supply chain and logistics are rising at a growth rate of 10.4 percent annually.
- Human Resource:
Human resource is a field with a broad scope and potential. The good news is that you don’t need a specific degree to get a job in an organization’s HR department.
This field is associated with workforce management, paychecks, recruitment, training and development, and clarifying information regarding sick pay, employment policy, and maternity leave.
Human resource is a fast-growing field as many people are pursuing it. Human resource growth is projected to be 7 percent by 2028. The average salary of an HR manager is approximately USD 21,550 – USD 32,960.
The scope of accountancy is broad and is used in every organization worldwide. For being an accountant, you need a solid analytic mind, and you should be good at dealing with numerical values.
Although a mathematical-based field is thought to be ideal for accountancy, top firms accept any general area, especially public graduation in management or business administration, works just fine.
The average pay of a junior accountant in the US is USD 22,830 to USD 32,960.
- Marketing and Advertising:
The advertising field is highly competitive, but if you have a creative mind, adaptability, and a relevant degree, you will make a place for yourself in this field.
There are various types of marketing and advertising careers. You may choose to be a copywriter, a marketing executive, a media planner, or a social media manager.
It’s vital to make a portfolio about your previous work as it may be effective for your application to stand out.
The average salary of people associated with marketing and advertising is about USD 34,100. The marketing growth rate is projected to grow 10% from 2020 to 2030.
- Management Consultancy:
Management consultants advise companies regarding strategic decisions like improving business performance and maximizing growth.
Management consultants have a starting salary of about USD 41,410. As this field offers such a good salary, it is highly competitive.
Hence, previous work experience and a relevant administration or management degree prove much helpful, whereas the growth rate of consultancy has been 1.9 percent per year from 2017 to 2022.
Teaching is a career that never loses its demand. Teaching is a very stable job with many benefits, including excellent holiday benefits.
It’s a field with significant scope, and getting into it is not as hard as you think, even if you are a fresh graduate or are trying to change your area.
You may opt for taking a teaching course before starting this career, but even if you don’t, you can get a job as a primary school teacher; still completing a teaching course before is recommended.
The pay of primary school teachers in the US is approximately USD 33,000, and the employment of a high school teacher has been projected to grow 8 percent from 2020 to 2030.
- Public Relations (PR):
Public Relations is ranked as the third-best creative and media job. Their job is to build good relations between clients and the wider public.
They are responsible for building, maintaining, and managing an organization’s reputation. You need good organizational skills, good verbal and written communication skills, and strong relationship development expertise for this job.
Although this can be quite hard, you may stand out if you have relevant work experience. The average salary in this field is approximately USD 22,800 to USD 25,380.
While life after graduation can seem like a difficult road to head-on, the proper guidance and career counseling can quickly transform them into the best years of your life.
With the job market continuously shifting in hypermarkets worldwide, new jobs emerge almost every year.
Keep an eye out for emerging jobs and take crash courses and certifications. This will keep you up to date with what’s new in the market and what’s in demand.