Career Options: Make the Right Life Choices For You

career-options

With so many career options available in today’s economy it can be an overwhelming task of where to start choosing. Further, in order to compete in today’s extremely competitive employment market-place, one needs to plan their chosen career path likely well in advance. For instance, it will make sense in going into college what career you may be interested in, that way one can plan their major and internships surrounding that field. We will give you a head start by listing out a few well-known career paths as well as the strengths and weaknesses of each.

 

Medicine/Physician Related 

You may be wondering, what can I do with a psychology degree? Well, the medical field, once the likely top field to enter into, has somewhat declined in recent years, as demand for physicians has remained stable while supply has increased substantially as many college graduates enter this career field. The recent healthcare reform enacted by the Obama administration has also had a significant negative impact on the industry as fees paid to most physicians by healthcare insurers has declined. Additionally, the fact that aspiring physicians need to go through 4 years of undergraduate school followed by 4 years of medical school, and then must start as residents, make the income trajectory quite low until your later years.

Public Service (police officer, firefighter etc.)

A public service track career can make sense for many. Although the training and schooling acceptance is quite difficult to pass, once one becomes a police officer, the career path is generally quite stable, and the salaries are high relative to many industries that do not require a college education. It is an obvious, but the main risk of this career is the high potential for physical harm while in combat as an officer.

Law

As of 2016, the law market is flooded with employees seeking to enter the industry and as such it is very competitive to obtain positions. Further, because of this overs-supply law companies can pay less to entry level employees. As a result, this industry is currently not relatively attractive. However, if the education truly relates to your passion, then we recommend taking that as a hint over all else and entering the field, but be prepared to work hard to obtain an qualified and high paying position.

Wall Street 

Wall Street can make sense as a career path for certain people. The positions are competitive and high stress, but the income trajectory for those that can perform can be substantial. One downside to look into is the fact that entry level employees are worked very hard, however again, they are compensated for on a relative basis.

Technology 

Technology is a hot field in current time. Many large technology companies will pay a very high price to talented engineers and project managers. This will likely require a top technology related education, but can be a very lucrative career path. However, take caution with smaller technology start-ups as many promise equity with low salaries, and many of these firms may fail, leaving employees with no avenue for income.

Accountancy

A description of accountancy in one word would be safe. This field is one in which clients will always need. Each year firms across the globe will need to hire accountants to audit their financials. In this respect, if one can work very hard to obtain a CPA, the accountancy career track can make a lot of sense.

Politics

From a income standpoint, most positions related to politics pay below many other industries, but again, this is because politics is generally seen as a public service career path, and not one where employees expect to make significant amounts of money. Similar to a career path in law, if it interests you go for it, but do not expect to see it as a major income source in your career.

Sales/Marketing

A sales career has high potential upside, but can be a very difficult career for many people. This is because in order to make a high relative income, one needs to be very talented at selling, which is a skill that must be acquired over a long period of time. However, many people do have the correct personality type for a sales career, and this career can be very lucrative for a small percentage of those in the field.

While there certainly are other career options, this list is comprised of those common careers that provide a rewarding path for those with interest in each career choice. Note that this summary has been left brief on purpose to provide a high level overview of potential different career paths. I plan to introduce more detailed pieces on the opportunities and drawbacks that these career paths provide!

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