Not every rich person in this world was born with a silver spoon in their mouth. Most of them had to earn their position through hard work and sincerity. Some spent years at college, faced multiple failures but got right back up on their feet each time. Now, this doesn’t mean you will land the position of CEO as soon as you graduate. You will, instead, need to work hard, gain experience, and prove your worth. It’s a slow process indeed, but worth it.
The business world is evolving. It is no longer only about banks and stock markets. Technology is rapidly taking over, causing an elevating rise in tech-based businesses and firms. Marketing, Human resources, and data analytics have become integral departments of every organization. The number of job seekers has also substantially risen but so has competition. Everyone wants to reach the skies, but only some have the potential.
With so many new job opportunities, people often wonder which job is more remunerative than the other. Below, we have listed down some of the most lucrative jobs in business today.
1. Chief Executive Officer
Chief executive officers are the executive heads of companies, firms, and organizations. They overlook all the departments from finance, strategy, marketing, HR, R&D to production, and sometimes even public relations. Their job also involves overseeing a business’s day-to-day operations. All departmental heads report to the CEO. The CEO says to a board of directors elected by a group of shareholders of the company.
A CEO is supposed to ensure all business activities are carried out, unhindered, and follow all necessary safety guidelines. CEOs of big, well-known organizations carry a minimum MBA qualification. On average, they earn around $150,000 annually, but the figure can go up to $250,000 depending on the company.
2. Chief Financial Officer
A chief financial officer has the responsibility for planning and implementing a company’s finances. A CFO also develops budgeting strategies and overlooks the company’s relationship with banks and insurance companies. CFOs are a significant part of a business’s future planning and forecasting.
CFO’s roles and duties have developed to a great extent recently. Counting a company’s money isn’t their only job anymore. A modern CFO must be well-versed with technical accounting, decision-making, and risk management. Good communication and leadership skills are also important. If incredibly remarkable at their job, CFOs can earn up to $130,000 per year.
3. Marketing Manager
Marketing has become the most vital department in almost all companies and firms. The rise of digital media platforms has raised the demand for marketers and their various marketing gimmicks. Hence, there is no doubt that marketing managers make a handsome salary.
Marketing managers’ primary role includes analyzing business’s, customer’s, and competitor’s activities and then planning accordingly. They market and promote company products to increase the level of sales, profits, and investments. Usually, a bachelor’s degree for a marketing manager position suffices, but a masters can put you at an advantage. Marketing managers, on average, earn around $60,000 to $100,000 annually.
4. Data Scientist
Data scientists perhaps have the most exciting yet complicated roles in organizations. They work with computer science or the IT department and help acquire process. Clean data to create algorithms for forecasted models. However, data science is a varied field. Some data scientists use robust analysis to achieve sustainable growth. At the same time, others develop personalized data to enhance a company’s decision-making ability.
A bachelor’s in data science can land you a job, but a Master’s degree can do wonders. Besides, a data science master’s salary ranges between $90,000 and $150,000 per year.
5. Human Resource Manager
A human resource manager leads the HR department at a firm or a company. HR managers hire, train, fire, cultivate and retain workers. They offer strategic advice on multiple company decisions and play an integral role in improving productivity. They deal with all employee-related problems and concerns and play a pivotal role in attracting, instructing, and raising workers’ morale.
An HR manager should have a Bachelor’s degree in business administration, HR, or any related field to land at a decent position with salaries of $75,000-$120,000 annually.
6. Sales Manager
As is evident from their title, sales managers manage the sales and revenue of a company. They set goals, prepare budgets, resolve customer complaints, analyze revenue data, and supervise a sales team. They are also responsible for hiring and training sales associates. Generally, they report to the upper management (usually the CEO).
Besides, on average, a sales manager earns around &70,000 annually. The requirement in most companies is a minimum bachelor’s degree in business or any related field.
7. Financial Advisors
Personal financial advisors provide consultation and advice to individuals regarding their monetary investments and expenses. They help clients choose the right insurance plans. They also help with retirement plans, children’s education plans, and other short- and long-term financial goals. On the other hand, corporate financial advisors give their perspectives on a company’s decisions and plans. They can help access and analyze the profit and loss ratio. They also study financial data to help a company meet its goals.
Financial advisors’ annual earnings begin from $47,000 and go up to $120,000, depending on their qualifications and experience.
Making an excessive sum of money might not be everyone’s life goal, but it is an undeniable attraction. A major in business is quite popular around the globe. Also, most students are pursuing the degree in hopes of making the almighty dollar one day. However, while education in business will help a lot, it alone is not enough. The world is far from similar to what’s in textbooks. If you want to make big bucks, you need to get out there are find your way to the top!