As a child, when you thought you wanted to be a fireman or a nurse when you grew up, the concept of salaries had never even entered your head. Even when deciding what courses to study at university most students will prioritise long term career satisfaction over money. However, when your earnings are not enough to secure a mortgage or do not afford you life’s luxuries, perhaps motivators change. What if you could retire at 55 instead of 65, or even at 40 for that matter?
If you are considering a career change you may be interested in the following top ten occupations for earning potential:
- Directors and Chief Executives of Major Organisations
- Brokers
- Financial Managers and Chartered Secretaries
- Medical Practitioners
- Senior Officials in National Governments
- Aircraft Pilots and Flight Engineers
- Managers in Mining and Energy
- Research and Development Managers
- Marketing and Sales Managers
- Solicitors and Lawyers, Judges and Coroners
According to GMB’s review of occupations and earnings, Directors and Chief Executives earn close to £215,000 per annum, which is more than seven times the average UK salary of £29,999. Those fortunate enough to be at board level earn twice as much as Brokers, whose salary of just over £100,000 (an average of £101,627 to be exact) looks paltry in comparison. In third place, with an average salary of £84,000 pa, Financial Managers and Chartered Secretaries begin reducing the earnings gap. Medical Practitioners gross £78,882 every year, proving that over six years at university does pay off.
Senior Government Officials and Aviation Pilots/Engineers earn around £69,000 and £65,000 respectively and from there on the playing field evens out. The next 11 occupations on GMB’s list of 314 professions all attract salaries in the £50,000 to 59,999 bracket – from Mining and Energy Managers to Advertising and Public Relations Managers at 17th on the list. These professionals are joined by IT Consultants, Local Government Officials, Air Traffic Controllers, Senior HR and Industrial Relations Representatives, Financial Institution Managers and Police Inspectors.
Not surprisingly the private sector features prominently in the top 20 occupations, however, GMB’s list indicated the wage gap is decreasing for the public sector and the majority of public sector positions were offering salaries over the UK average of £29,999.
Whichever sector or industry you work in you can increase your earning potential simply by shopping around for your next employer. Or if you like your employer but feel you are underpaid, equip yourself with salary information which will give you far greater bargaining power at your next pay review, the salary surveys on this website can help you out.
