Copyright © 2007 Ed Bagley
As someone who has 5,000+ high-end clients who are interested in jobs and careers, I paid attention Tuesday when I came across a story about six-figure incomes by Laura Morsch of CareerBuilder.com.
According to Laura Morsch and the United States Bureau of Labor Statistics, “physician jobs dominate the list of the nation’s highest-paying positions, holding 9 of the top 10 most lucrative jobs.”
Morsch reminds us that there are other high-paying jobs in our economy.
“Although statistically more education means better pay,” says Morsch, “you can land a very high-paying job with just a bachelor’s degree and considerable work experience.”
She then goes on to list these 9 examples: Chief Executive at $140,000, Airline Pilot at $135,000, Dentist at $134,000, Lawyer at $111,000, Air Traffic Controller at $106,000, Engineering Manager at $105,000, Computer and Information Systems Manager at $102,000, Marketing Manager at $102,000 and Astronomer at $101,000.
I have clients making six-figure incomes in all of Morsch’s examples, however, you need more than a bachelor’s degree to realistically become a Dentist, Lawyer or an Astronomer; therefore, they are not good examples.
I have a client making $350,000 a year with a high school diploma. I have another client making $144,000 who is a high school graduate with two additional years of technical training. A third client is making $250,000 with a high school diploma only. All three of these examples are men.
Men can make excellent money with a high school diploma in a number of occupations.
Women can also make $100,000+ with a high school diploma, but they tend to do it generally in three ways:
1) They own their own business, usually a small business that is very profitable. Some research organizations report that there are more small business owners making six-figures-plus than in any other job or occupation.
2) They work in commissioned sales rather than salaried sales. A sharp woman can many times outsell a man because of the dynamics between the sexes. A sharp woman calling on a male client many times gets more time and attention than a male calling on the same client.
3) They work in a financially-related position, such as a stockbroker, mortgage banker, mortgage broker, loan officer or chief financial officer.
Here is some information you can use if you are a high school graduate and have zero interest in getting a bachelor’s degree at this point in your work career: go into sales if you have any people skills or personality.
Sales is the second highest paid profession in the world, and it does not usually require a college degree. There are some corporate sales jobs that do require a degree, but there are many more opportunities available if you can generate sales production.
There is not a single business in America that cannot benefit from more sales, and almost every one will pay for sales production.
Here is some even better news: If you are selling and producing big time and the owner or company is too cheap to compensate you at the level you should be compensated at ($100,000+++), dump the owner or company and sell for someone else.
A far better idea would be to start your own business, go into competition directly against the cheap owner or company that would not pay you, and wipe them off the map.
There really is no reason you should be working for someone else anyway. Working in your own business can be an outstanding deal. You call your own shots. You will not fire yourself, lay yourself off, or deny yourself promotions, fat bonuses for production, outstanding benefit packages, and a lot of time off to enjoy your money and family.
The nine examples listed above have 7 positions that amount to no more than hired help, that includes the Chief Executive position. Only the Dentist and Lawyer positions might be either self-employed or hired help.
All nine examples cited by Morsch and the Bureau of Labor Statistics have more stress than anyone needs and are labor intensive. Even the Dentist and Lawyer positions, which might be self-employed, require them to report to work or not get paid. If a Mac truck runs over either them, their income stops in a heartbeat.
Has anyone ever heard of income-producing investments when these job opportunities come up? Income producing assets allow you to take possession of your own time while your investment throws off the income to fund your lifestyle without working a job.
It might be fancy to have any of those nine jobs with status and making $100,000 a year. Some people would rather make $250,000 a year and not have a job, have a boss, and deal with the stress.
Here is a rare career path: Own the business, company or organization and hire the six-figure people in the examples above to work for you. There are people who would gladly pay the above examples their listed wages when they could make $250,000 free and clear and not work.
Who needs status and aggravation when you have money?