When choosing a career, as with any other important decision, it is important to consider the costs and benefits of each possible decision. The seven careers presented all represent a different level of investment in education, plausible social status and potential opportunities for the future. For my analysis, I have broken the careers up into three categories: higher median salary ($75-100K), medium median salary ($40-75K), and lower median salary ($20-40K).
The higher salary careers, Senior Software Engineer/Designer and Attorney/Lawyer, entail higher social status and more opportunities for the future. The opportunities for earning in these fields are virtually limitless, as individuals with successful law firms or software design companies can earn millions. On the other hand, the investment in education for these positions is considerable, both in terms of time and money. Individuals going into this kind of career have to be very dedicated to academics and prepared to pay off considerable amounts of debt once they finish their studies.
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"Career Assessment: Comparing Income, Education, Social Status and Future Opportunities".
The medium salary careers don’t require as much education, but they do require considerable experience for success and the rewards are more limited. Software Designer/Programmer requires at least a 2-year degree, which is quite affordable but still an investment. The two other positions, Construction PM and Retail Manager, don’t necessarily require a degree but they do require 2-5 years professional experience at a lower salary. Although these positions are not as highly regarded by our society, someone who is successful in their field could move up in position for higher earnings or start their own company for greater economic opportunities.
Finally, the lower income administrative positions have the benefit of little to no education/experience required, but the drawbacks are lower earnings and limited opportunities for the future. For this reason, this type of position is best for someone who does not have much formal education and is not particularly money-driven. People in these positions can leverage the skills acquired on the job toward future positions, for example in Human Resources or Marketing, where they would probably earn considerably more.
