﻿A direct flight from New York City to Los Angeles takes about 6 hours. But the other way, from Los
Angeles to New York is actually an hour shorter. About 5 hours. Same distance, yet different time.
Why is this? The primary reason is because of what is called tailwind vs. headwind. Headwinds are
what work against an aircraft because these winds blow against an aircraft's flight path. Tailwinds,
on the other hand, work with an aircraft because they blow in the direction of the flight path.
And guess in which direction the wind is flowing when flying from New York to Los Angeles? Yes,
against you. In a similar way, when we select a career that has limited growth potential
with limited income potential, we are essentially trying to fly against a strong headwind. We do
our best to succeed, yet we don’t get far because the natural trend is against us.
On the other hand, if you select a career field that has its own natural tailwind,
good growth rate, a lot of future job openings and potential for income growth, then your effort will
be greatly compensated. So in this video I’m going to talk about the 9 best jobs for the future. Ones
with strong tailwinds so you can set yourself up for success. And if you are a bit older like me,
it could also be something you consider for your kids. If you are new to the channel,
my name is Tae from Financial Tortoise. Where we learn how to build our wealth, patiently
and slowly. Consider subscribing if you’d like to build wealth together. In order to come up
with the following list, I looked at 4 primary criteria. One is a comfortable wage. Using data
from the US Bureau of Labor Statistics, I wanted jobs that had a median salary of at least $75,000.
Your income needs to be big enough to allow you to meet long-term financial goals.
And studies show that in most states, $75,000 is enough to put you in the middle class and allow
you to support your family while at the same time achieving your financial goals. Second criteria
is the educational requirement. There are alot of jobs out there that pay good salaries, but require
a quite bit of education in order to get there. Think medical school for doctors. Or PhD for
researchers. I focused on jobs that didn’t have that level of barrier to entry. So all the jobs
that I’ll cover here do not require more than a masters degree for entry. Most actually stop
at Bachelors. Third criteria is job growth. The world is changing faster than many can adapt to
and job growth rate is a great reflection of that. Jobs that were considered great jobs in the past
no longer exist. For example, 50 to 60 years ago, American manufacturing was considered the job to
get. High paying factory jobs offered workers with limited education a ticket to the middle class.
But today, those jobs are quickly disappearing. For example, Assemblers and Fabricators boasts
a strong number of jobs of over 1.7 million today. But it is expected to decline by 5%
in the next 10 years. Almost 90,000 in job loss. It’s important to select a career field
with high job growth potential or you will be fighting an uphill battle the rest of your life.
The fourth criteria is the actual number of jobs projected. A job might have fast growth potential,
but if the pool is too small to start out with, the total number of new jobs
might not make the pursuit worthwhile. A good example of this is a Wind Turbine Technician.
It has a whopping 68% job growth rate. But unfortunately this only translates to 4,700
new jobs. And this is in the whole country. The growth rate is exciting, but the pie is too small
in my eyes to make it on the list. One interesting thing I observed after completing the list is how
most of these competitive jobs fall within just a few select industries. Most notably healthcare,
finance and technology. Not surprising given these are also some of the fastest growing industries as
well. Alright. Number one best job for the future is Software Developer. 2020 Median Pay is around
$110,000 a year. In order to become a Software Developer, you typically need a bachelor’s
degree in computer and information technology or a related field like software engineering. It is
expected to have a projected job growth of 22% for the next 10 years. Nice strong tailwind of growth.
As regards to the total number of jobs expected to open up in the next decade, we are expecting
close to half-million new openings. There are currently close to 1.9M Software Developers in the
United States right now so if you had to pick one career based on the total number of opportunities,
this would be it. However, understand that this is a challenging field. Software developers are
responsible for designing and writing softwares for computers, tablets and phones. This youtube
platform was developed by a few very smart software developers who used to work at paypal. So
if you want to become a software developer, know that you will be spending a lot of time behind a
computer screen. It would best serve you if you enjoy working with technology and don’t mind
solving complex coding problems for hours on end. Currently, the majority of the biggest companies
in the United States are technology companies. Apple. Google. Amazon. So if you decide that
Software Developer is for you, I’m confident the sky will be the limit for opportunities to grow
and earn a strong income. Next on our list is near and dear to my heart. Registered Nurse. And I am a
proud husband of one. My wife’s been a Registered Nurse for the past decade and it’s been amazing
to watch her grow through this amazing occupation. 2020 Median Pay is around $78,000 a year. In order
to become a Registered Nurse, you typically need a bachelor’s degree in nursing, an associate’s
degree in nursing, or a diploma from an approved nursing program. In addition Registered Nurses
must be licensed. It is expected to have a projected job growth of 9% for the next 10 years.
Not as big as software developers, but when we look at in context of the total number of nurses
needed, 9% is actually a huge number. There are currently more than 3 million Registered Nurses in
the United States. With a 9% job growth rate for the next decade, this means we will need close to
300,000 new nurses. Nurses to replace the ones who are retiring, as well as fill brand new positions.
With 300,000 new openings, you won’t have any trouble finding a job as a nurse. But, again. This
too is quite a demanding career. Registered Nurses are responsible for a range of responsibilities.
Providing and coordinating patient care. Educating patients about various health conditions. And
providing even advice and emotional support to patients and their families. You need a lot of
compassion for serving patients and given that most registered nurses operate within hospital
settings, don’t be surprised if you are on your feet constantly. But if you like the idea of
really serving patients at their most vulnerable times, this could not only be a financially
rewarding career, but also emotionally. Number three on our list of best jobs for the future
is Medical and Health Service Managers. They are also commonly known as Hospital Administrators
or Clinical Managers. 2020 Median Pay is around $101,000 a year. In order to become a Medical
and Health Service Managers you typically need at least a bachelor's degree. There are also graduate
programs that specialize in hospital or healthcare administration. Degrees that focus on both general
business management and healthcare are oftentimes looked favorably upon. It is expected to have a
projected job growth of 32% for the next 10 years. And with the current total number of jobs around
400,000, it is expected to have close to 140,000 new openings in the next decade. With healthcare
needs growing with longer life expectancy, there will be more demand for smart administrators to
manage this growing industry. It is a broad and complex role that requires responsibility over
planning, directing and coordinating medical and health services. A healthcare administrator
may be asked to manage an entire facility, a specific clinical area or a department.
In order to find success in this career field, one will not only need key business managerial skills
like operations and finance, but will also need to be well versed in healthcare specific knowledge
such as medical staffing and licensing requirements. If you like the idea of
managing complex organizations while supporting frontline healthcare professionals, this might
be an ideal career track for you. Number four best job for the future is Management Analysts.
Also oftentimes called Management Consultant. 2020 Median Pay is around $93,000 a year. In order
to become a Management Analyst, you typically need a bachelor’s degree. Usually in business,
economics or a related topic. Some employers prefer to hire candidates who have a master’s
degree in business administration (MBA). It is expected to have a projected job growth of 14%
for the next 10 years. With slightly more than 900,000 management consultants in the United
States, this translates to about 124,000 new consultants for the next decade. Nice strong
number if you are interested in this career field. I actually did a short stint as a management
consultant while I was in business school and I admit it is a challenging, but rewarding pathway.
Your primary responsibility is to recommend ways for organizations to improve their efficiency.
You advise company executives on how to make their organization more profitable through reduced costs
and/or increased revenues. And for consultants who stay in the career field for a long time,
they often specialize in specific functions such as cost analysis or inventory control, and
also in specific industries such as healthcare or government. However, one of the major appeals of
being a management consultant is the opportunities it opens up for those who want to transition
into a more consistent role. As a Management Consultant you are being exposed to new companies,
new functions and new industries constantly. You gain a very broad appreciation of the market.
Not only are you developing critical business skills, you get to network with key individuals
within each industry. This could allow you to seamlessly transition to an in-house
role. Much more smoothly than someone who might be trying to break into the company without any
connection or experience. If you like solving complex business problems and don’t mind jumping
into new projects every few months, this could be a great career option for you. Next on our list of
best jobs for the future is Nurse Practitioner. Also referred to as advanced practice registered
nurses. APRNs. 2020 Median Pay is around $124,000 a year. In order to become a Nurse Practitioner,
you must have at least a master’s degree in your specialty role. For example
Nurse Midwife or Pediatric Nurse Practitioner. You also must be licensed registered nurses
and also have a APRN license in the state you want to practice in. With projected job growth of 45%
for the next 10 years it has the highest growth rate of all the jobs that we are reviewing today.
Today there are slightly more than 270,000 Nurse Practitioners in the United States.
With a 45% growth rate, this means we will need close to 121,000 new Nurse Practitioners in the
next decade. That is pretty crazy if you think about it. And Nurse Practitioner is a pretty cool
job. They can work independently or in collaboration with physicians. Also in
most states, they can prescribe medications, order medical tests, and diagnose health problems. With
increased demand for more healthcare providers in the future, Nurse Practitioners fill this crucial
gap for patients that need medical attention. One major hurdle to being a Nurse Practitioner is that
you not only need your Nurse Practitioner degree, but you also need to be a licensed registered
nurse. But if you are currently a nurse and you want to grow your scope as well as your income,
this is a great pathway to pursue. Number six best job for the future is Finance Manager. 2020 Median
Pay is around $132,000 a year. In order to become a Finance Manager, you typically need a bachelor’s
degree in business, economics, or a related field and also some experience in another business or
financial occupation. They often were a financial analyst or an accountant in their previous job.
It is expected to have a projected job growth of 17% for the next 10 years. With close to
700,000 Finance Managers in the United States, we can expect about 118,000 new Finance Manager
positions to open up in the next decade. And I’m pretty familiar with this role given I spent close
to a decade in this and similar roles. My last job was as a Finance Director. The life of a
Finance Manager revolves around crunching numbers. Most often they are creating financial reports,
developing plans for long-term financial goals and advising top executives on strategies to
maximize profit. I spent a good chunk of my time in board meetings reviewing financial performance
and projections of the organization. To succeed in this role, it requires a combination of technical
analytical skills as well as ability to clearly communicate the findings to the executive team.
Another nice part of this job is that it is one of the few occupations that is transferable across
different industries. Oftentimes the financial projection methodology between industries
don’t change too much except the assumptions that are used in the inputs. So if you see yourself
as a numbers guy, like the idea of running financial scenarios and advising senior leaders,
this could be a great occupation to devote yourself to. Number seven best job for the future
is a close cousin to the Finance Manager. And that is an Accountant. 2020 Median Pay is around
$77,000 a year. In order to become an accountant, you typically need at least a bachelor’s degree in
accounting as well as completion of certification as a licensed Certified Public Accountant, CPA. It
is expected to have a projected job growth of 7% for the next 10 years. Though the growth rate
isn’t as large as some of the other jobs that we covered thus far, given we currently have
close to 1.4 million accountants here in the United States, a 7% growth means close to 100,000
new jobs for the next decade. And despite many people considering accounting as a boring field,
they play a crucial role in pretty much all organizations - government, for-profit and
nonprofit. Any organization that requires spending of money needs accountants to prepare and examine
financial records. They are responsible for ensuring that financial records are accurate,
that financial risks are evaluated, and that taxes are paid properly. Without them organizations and
companies would have no idea if they are making money or losing money. And there are also many
different variations of accountants. You could be a public accountant responsible for working
with financial statements that corporations are required by law to disclose. Or you could
be a Forensic Accountant, investigating financial crimes such as securities fraud and embezzlement.
What I like about the role of accounting is that it is a good entry level occupation that could
function as a stepping stone for other higher paying occupations such as financial executive
or financial consultant. If you like adding numbers and want a stable career, you can’t
go wrong with accounting. Number eight best job for the future is Information Security Analyst.
2020 Median Pay is around $103,000 a year. In order to become an Information Security Analyst,
you typically need a bachelor’s degree in computer science, along with related work experience.
Employers also look favorably upon analysts who have professional certification related
to information security. It is expected to have a projected job growth of 33% for the next 10 years.
This translates to approximately 50,000 new jobs in the next decade given we have about 141,000
IT Security Analysts currently. With technology playing a bigger and bigger role in our society,
so is the need to keep digital information secure. If you just google IT security breach,
it almost feels like every company out there has been hacked. Even technology companies
like facebook and twitter are no exception. So Information security analysts play a crucial role
in planning and carrying out security measures to protect an organization’s computer networks
and systems. Given that technology is also evolving, this means these IT security analysts
can’ just stay still with their skillset. They must stay up to date on IT security and on the
latest methods attackers are using to infiltrate computer systems. If you like the idea of being
on the forefront of securing our digital data, this would be a great career for you. Number nine
best job for the future is a close brother of a Nurse Practitioner. And it is Physician Assistant,
also known as PAs. 2020 Median Pay is around $121,000 a year. In order to become a PA,
you typically need a master’s degree from an accredited educational program
and all states require PAs to be licensed It is expected to have a projected job growth of 31%
for the next 10 years. This translates to approximately 40,000 new jobs in the next
decade given we have about 129,000 PAs currently. PAs work closely with physicians in examining,
diagnosing and treating patients. You can find them in all areas of medicine including primary
care, emergency medicine and surgery. I’ve been noticing that when I go in for my regular physical
exams now, I’m most often seen by a PA rather than a physician. And unless I look at their name tag,
I forget that I’m being examined by a PA. In a time where we have shortage of healthcare workers,
they play a crucial role in providing that necessary healthcare service to patients. If you
are not already a nurse, but want to still pursue an advanced career in healthcare, this could be a
great route to pursue. Selecting the right career path is crucial if you want to build wealth.
The right career will act as your natural tailwind. If you or your child is to pursue
any of the jobs that I mentioned so far, I’m confident their potential for career growth and
thus income growth is limitless. This will allow you to save more and invest more, and achieve
financial security sooner. Thank you guys for watching and if you like videos like this please
hit that like button and comment below. It's my first video on career analysis and
if you enjoyed it let me know so I can create more like it in the future. Thanks again and
until next time, all the best.