10 Jobs That Can Make You a Millionaire
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Many professionals consider their potential earnings when choosing a career path. There are many roles and industries in which you may be able to earn a high salary in addition to commissions, bonuses and investments that increase your earning potential.
In this article, we explain how to find millionaire jobs and then list fourteen jobs that can pay you enough money through salary and other compensation to potentially make you a millionaire.
How to find millionaire jobs
You can find potential millionaire jobs in nearly any industry or location. These positions typically do not pay million-dollar salaries. Instead, successful professionals in these high-paying jobs have the potential to become millionaires with careful planning and good spending and saving habits. Here are the steps to take to better your chances of achieving millionaire status:
Choose a high-paying job
There are many industries that, on average, pay higher salaries than others. Some options include healthcare, certain fields of law, real estate development and finance. Each industry and career path is likely to have steps that lead to advancement opportunities that further increase earnings.
Pursue relevant education
In high-paying jobs and industries, you may be required to complete a bachelor’s degree in a relevant discipline. Some roles may require graduate-level education, such as a professional or doctoral degree. Others may offer more advancement and increased earnings when you earn a relevant master’s degree or higher.
Gain industry-specific skills
Consider refining the skills you need in your high-paying job to make yourself an even more competitive candidate. You can also complete professional certifications that help you demonstrate your qualifications to current and prospective employers, which can result in more advancement opportunities.
10 Jobs That Can Make You a Millionaire
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Advance in your career
To further increase your salary, complete years of work experience. Aim to be a top performer to earn promotions, such as leadership positions or executive-level roles. These positions often offer pay increases to accommodate increased responsibility.
Look for investment opportunities
In addition to earning a good salary, you should save and invest your money wisely so it grows to millionaire levels. Look for jobs that not only pay well but also offer benefits such as bonuses, commissions and stock options. Then be patient while your wealth grows.
Here are Jobs that better your chances of becoming a millionaire
1. Professional athlete
National average salary: $81,107 per year
Primary duties: Professional athletes perform individually or get paid by a team to compete in sports such as baseball, basketball, soccer, football, tennis, hockey, golf, gymnastics and many more. They typically compete during a certain season and train to maintain and improve their skills and fitness year-round. An athlete’s physical health and condition are critical to their success and ability to work.
Athletes who are successful at the highest levels of their sport can earn millions of dollars. In addition to their salaries, athletes can also benefit from endorsements and performance bonuses for reaching certain goals or titles.
2. Investment banker
National average salary: $62,222 per year
Primary duties: Investment bankers give individuals and companies advice on how and where to invest and grow their money. Investment strategies might include buying securities such as stocks or bonds and merging with or acquiring another company. Investment bankers often have the opportunity to earn commissions, bonuses and profit shares that far exceed their base salaries. When markets and clients are doing well, they might earn bonuses well over $100,000.
Because investment bankers understand how to invest wisely, they often continue to grow their wealth through their own investments. They might also establish and run their own firms. To become an investment banker, these professionals should have a bachelor’s and, preferably, a master’s degree and strong sales and finance skills.
National average salary: $68,904 per year
Primary duties: Entrepreneurs think of business or product ideas, then develop and manage them with the goal of selling the company for a profit. They might start anything from small retail shops to major technology companies. Successful businesses that sell for a lot of money can make entrepreneurs millions. They can then reinvest their money into new ideas or startups to continue the cycle.
These professionals may not be required to have formal education, but a degree in business, entrepreneurship or finance can provide them a strong foundation in business strategy, principles and development.
National average salary: $70,136 per year
Primary duties: Lawyers give individuals, companies and governments legal advice and represent them in court or other proceedings. They prepare legal documents and have a strong understanding of laws and regulations. Lawyers can specialize in many types of law, including criminal, family, corporate, personal injury, employment, immigration and contracts. They typically charge by the hour, so lawyers in high demand who work many hours per week can earn significant incomes.
To become a lawyer, you must earn a bachelor’s and law degree, plus pass your state’s bar exam.
5. Certified public accountant
National average salary: $72,621 per year
Primary duties: Certified public accountants (CPAs) are licensed to provide individuals and businesses with financial advice, bookkeeping and tax preparation services. They understand complex tax paperwork, laws, regulations and deadlines. They also perform audits of individual and corporate financial statements to identify errors or fraud.
CPAs who get hired at large companies to fill upper-level accounting positions, such as a controller or chief financial officer, can earn significant salaries. CPAs can also earn a lot of money if they start and run their own successful accounting businesses.
6. Insurance agent
National average salary: $79,938 per year
Primary duties: Insurance agents sell health, property, life or other insurance to individuals and companies. They also process claims and design plans to fit each client. They might work independently or for an insurance company. Insurance agents should have strong sales and marketing skills to attract and keep clients.
Insurance agents typically earn commission in addition to their salaries, so the more sales they make, the more they can earn. They also earn significant money on large businesses and clients with big policies. Selling life insurance is also particularly profitable for insurance agents.
National average salary: $85,962 per year
Primary duties: Engineers design products and solve technical problems for a variety of industries. They spend much of their time identifying issues, researching solutions and designing and testing products and processes. They can specialize and work in fields such as petroleum, chemical, electrical, nuclear, biomedical, aerospace and more, all of which can pay well over $100,000 per year. Engineers who think of and create new products or technologies can profit off those significantly.
Engineers typically have a math or science background, plus an engineering degree. Those who complete graduate-level engineering degrees may have more advancement opportunities and higher salaries.
8. Real estate agent
National average salary: $87,845 per year
Primary duties: Real estate agents help people and companies buy, sell or rent homes and properties. They guide their clients through every step of the process, from finding properties to negotiations to filling out contracts. They should also understand local real estate laws and documents required to complete a sale.
Because these agents understand the real estate market and have access to properties as soon as they become available, they might make their millions investing in real estate themselves. They might do so by buying a house and selling it for a profit or by owning rental properties.
Real estate agents must be licensed in the state(s) where they plan to work.
9. Day trader
National average salary: $97,648 per year
Primary duties: Day traders buy and sell stock over short periods (typically a day) with the goal of earning profits off each trade. Over time, these profits can add up to significant gains. When the market is strong, they can earn a lot of money in one day, depending on the trades they make. They might work for a firm, earning a commission for each trade their client makes, or they can work independently from home.
When they are not actively trading, day traders are researching possible investments and company earnings and trying to predict market changes. Day traders should understand market trends and have strong analytical skills.
National average salary: $108,629 per year
Primary duties: Actuaries use math, statistics and analytics to assess a company’s financial risk. They often work for insurance companies, banks or investors, government agencies, hospitals and other businesses that need to avoid losing money. They use equations to calculate probability and the financial consequences of taking certain risks. Actuaries have strong math skills and typically have a master’s degree in a numbers field.
What job makes the most millionaires?
In broader terms, the finance and investment profession has the most millionaires.
What job makes you a millionaire the fastest?
Some opportunities that can help you become a millionaire in time are
Investment banker, Certified public accountant, Entrepreneur, Day trader, Real estate agent, Engineer, Lawyer, Actuary.
End Of Line
We have presented to you top millionaire jobs and the list of fourteen jobs that can pay you enough money through salary and other compensation to potentially make you a millionaire.