Copyright © 2021 Ed Bagley
As someone who has acquired 6,100+ high-end clients who are interested in jobs and careers, I paid attention when I read a story about six-figure incomes based on information from the Unites States Bureau of Labor Statistics indicating that physician jobs dominate the list of the nation’s highest-paying positions, holding the Top 10 most lucrative jobs that are “equal to or greater than $208,000 in annual income”.
They include psychiatrists, oral or maxillofacial surgeons, obstetricians and gynecologists, general internal medicine physicians, surgeons (except ophthalmologists), anesthesiologists, prosthodontists, orthodontists, physicians (all other) and ophthalmologists (except pediatric), and family medicine physicians.
Next in line were chief executives, nurse anesthetists, and dentists at $183,000 in annual income.
The Bureau of Labor Statistics is interested in keeping these kind of salary statistics for demographic and political purposes (political districts gain more representation in the U. S. Congress when the population increases).
It is a funny thing about statistics: politicians and propagandists can easily use statistics to prove a point they want to make, but seldom does it represent the complete story about what really happened or what it really represents. There is generally a backstory that is too often unseen and unknown to the reader or observer, which, when given the light of day, can offer a totally different impression.
For example, it is easy to show statistically that a person with a bachelor’s degree will generally earn more income over their adult working life than a person with only a high school degree or no specific professional training that would lead to a license or certification in an occupation or industry that could generate more annual income.
Seldom are we told about any exceptions to the statistics given. Most workers would be ecstatic to earn $183,000 in annual income with a full benefit package worth $45,000 that would give them a total compensation package of $228,000, or more than a quarter million dollars.
My clients generally are professionals (that is, there are a pro at what they do, whatever that may be), generally earn $60,000 to $140,000 in annual income, and are either in management or supervision or want to be.
As a creator of high-end professional resume products, about 30% of my clients do not have an associate degree or no degree at all, and the income of some clients with no degree may attract your attention.
For instance, during 35+ years as a high-end resume writer, I have a client with no high school degree and not even a GED equivalent that is generating $500,000+ in annual income.
I have three of them, and another generating $650,000 in annual income and another generating $700,000 in income, all of whom have no high school degree and no GED equivalent. I ask my prospective clients, what occupation or industry do you think they are in?
Their responses generally include IT (information technology because it can pay well in our economy), licensed or certified positions (attorney, accountant or educator, for example), or self-employed. All of these are good answers, but they are all wrong. Only 1 out of 100 clients ever gets it right.
All my clients without a high school degree or GED equivalent that earn higher annual incomes ($100,000 to $500,00 to $700,00 and more) are in sales, not as salaried employees but working on a commission basis, being paid a commission percentage on the amount of income they produce for a company or organization.
As you continue to walk down the work road of life, understand that sales is the second highest paid profession on planet Earth. It is probable that only 5% or less of the adult working population is involved in direct sales, that is because 97% (perhaps an exaggeration) of people would not be caught dead selling.
Most people would never be in sales because they can’t stand rejection, they view rejection as failure, or they think too many salespeople are not honest or are in it for their own gain, rather than serving the needs of the buyer or the general public.
That is why people in sales, especially people who are good at selling, make a lot more money than managers, supervisors or worker bees. We live in a capitalist system that rewards salespeople for producing income for companies or organizations, this is a merit system that rewards production; this system is made for workers who have ambition, work hard and improve their employability by acquiring degrees, licenses or certifications so their skills and experience become more lucrative.
Men can make excellent money ($100,000) with only a high school degree in an number of occupations.
Women can also make excellent money with only a high school degree, 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 $100,000+ 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 business 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 9 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 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 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. When they generate $1 million in annual company income to be paid $100,000 in compensation, there are owners who would gladly pay the above examples of their $100,000 wage when you the owner could make $250,000 free and clear and essentially not work.
Who needs status and aggravation when you have money?