Does the possibility of earning $75,000 feel completely out of your grasp? You're not alone--the U.S. Bureau of Labor Statistics (BLS) reports median earnings of less than $40,000 in this country. But if you're reaching for more, don't give up now. With hard work, a commitment to career training, and these five secrets, you could find that $75k just around the corner.
Secret #1: Get an advanced degree
Earn a college degree and you'll earn more money than without one. Earn an advanced degree and you'll earn even more money. Seems logical...because it's true! According to a 2007 U.S. Census Bureau report, those with advanced degrees earned nearly $15,000 more annually than those with only a bachelor's. In many cases, those who obtain a graduate degree take on extra responsibility and income. For example, attorneys earn almost double the salary of paralegals. Even part-time lawyers can earn nearly $75k.
BLS 2008 median salary: $124,750
Career training secrets: Bachelor's degree in business or a related field; Juris Doctorate from an accredited law school (required).
Secret #2: Manage information and resources
As you accept more responsibility for staff, communication, and finances, you'll be more likely to see a corresponding salary increase for your efforts. If you like the idea of being a manager but don't like the idea of a traditional desk job, consider becoming a film or television producer. In this role you'd manage the financial and business end of a production, from hiring the director to pursuing investors. Hands-on work experience leads to new industry contacts, which are nearly as important as career training in this field.
BLS 2008 median salary: $83,030
Career training secrets: Bachelor's degree in finance; Master of Business Administration from an online or traditional university.
Secret #3: Hone your people skills
If you want to earn $75,000 or more, start giving your schmoozing skills a workout. Your ability to converse, charm, and persuade can make or break your career. In addition to schmoozing, fields like public relations require a wide range of people skills such as coordinating events, managing conflict, and negotiating deals. As a PR manager, your day would be filled with writing news releases, pitching stories, and prepping executives for speeches and interviews.
BLS 2008 median salary: $101,220
Career training secrets: Bachelor's degree in public relations or communications; M.B.A. can be helpful for career growth.
Secret
#4: Go high-tech
As the world becomes increasingly complex and technology-driven, you can choose to embrace the high-tech changes or hide from them. Just keep in mind that workers who embrace technology will continue to be in demand and require high salaries. For example, the BLS expects network-related professions such as information systems analyst to grow at more than 37 percent over a decade. Information systems analysts must stay up-to-date on current technologies and industry changes, so ongoing career training through online colleges or brick-and-mortar technical classes must be a priority.
BLS 2008 median salary: $73,830
Career training secrets: Bachelor's degree in computer science, information technology, or management information systems; an M.B.A. with an IT focus can be a huge advantage for moving into management.
Secret #5: Study the numbers
Companies need employees who can crunch numbers, analyze spreadsheets, and make recommendations about financial decisions. High-paying financial careers include accountants, actuaries, and stockbrokers. If you've got a good balance of communication skills and number smarts, take a look at a financial analyst career. In this job, you'd pour over company data and financial statements, so make sure you enjoy paying attention to the smallest details. The BLS expects the financial analyst occupation to grow much faster than average due to increased regulatory scrutiny.
BLS 2008 median salary: $84,780
Career training secrets: Bachelor's degree in finance, accounting, or business; an online or traditional M.B.A. will provide the best opportunities.
Don't settle for average, especially when it comes to your career and your salary. Inventory your strengths, look at the options, and choose the degree and career training path that will push you ahead of the pack.
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