If you’ve ever wondered if there are any jobs or vocations that will pay you $500k per year, this article is for you. Here, we will try to identify jobs that pay $500k.
These jobs range from being a doctor to being a high-level CEO and making big bucks with a hit movie role. In this article, we will explain why these careers are so lucrative and the qualifications for being in such a position.
In these times of unrest and uncertainty, owing largely to the global impact of the covid-19 pandemic, most people are simply trying to get by; however, it may surprise you that there are still people earning half a million dollars or more annually.
According to the Bureau of Labor Statistics, the average wage for a worker in America is around $49k per year; add in a few bills and rent, and there’s not much left. $500k is a lot of money to make in a year, and the road to it is paved with years of determination, hard work, networking, sheer tenacity, and talent.
Table of contents
Jobs That Pay Over $500k Per Year
Here are some jobs that pay over $500k per year:
Doctor
A doctor fresh out of medical school is a long way from earning $500k per year, but it is entirely possible. This hardly implies that doctors in the United States are underpaid.
According to Nomad health on Medium, the average salary of a doctor in the United States is a tidy $294k/year. But here’s where it gets interesting: a neurosurgeon earns more than $600,000 per year on average, as do thoracic surgeons and a couple of other specialties like orthopedic surgery.
These doctors can earn even more than the amounts listed above, depending on their employer’s skill level and value.
It takes approximately 8 years of study to become a specialist in a field such as neurosurgery, which is one of the highest paying niches in the medical field, and even more years of practice and honing your skill as a surgeon before you earn such figures.
This entails long working hours, never-ending shifts, and midnight calls, but the good news is that these decrease as you progress up the ladder, and at some point, you will choose the hours you work while still commanding a sizable salary.
Anesthesiologist
However, one of the highest-paid medical-scientific professions in the world is anesthesiologist: the person in charge of sedating a patient during surgical interventions (especially because it entails more risk). As a result, in countries such as the United States, the average annual salary is over $500k.
Surgeon
Surgeons are among the ‘top three,’ a profession that may be threatened by precision robotics in the coming years but is still one of the highest-paid in the world. Particularly in the United States, where the average annual salary is above $500k.
You can learn the full details of a Surgeon’s earnings here: How Much Money Do Surgeons Make?
Chairman of the Board (CEO)
A CEO, or Chief Executive Officer, is a company’s highest-ranking executive. The CEO is the person in charge of most aspects of the business, including strategic planning and leadership. They are to put the company’s business strategy into action to make money and provide jobs for all employees.
They also ensure an adequate supply of products and services at reasonable prices, protect the organization from external threats and risks, and lead it into new markets.CEOs can earn significantly more than the average person.
For example, CEOs of S&P 500 companies earned an average of $11.7 million per year in 2016. This is significantly more than jobs that pay slightly more than $500k per year.
The range of CEO salaries is determined by the size of the company and its location. Still, CEOs who have been in their positions for a long time may earn $4 million to $5 million per year on average.
In this range, good jobs usually come with excellent benefits such as stock options and extensive retirement plans. CEO salaries can reach $15 million per year at the highest levels.
Investment Banker
Investment bankers are financial market, trading, and stock market experts. Investment banking positions are currently one of the most sought-after jobs, with six-figure salaries and excellent benefits such as health care and paid vacation days.
It is not uncommon for an investment banker to earn more than $500k per year. Investment banker jobs typically include attractive perks such as the use of the company’s car or membership in exclusive clubs such as golf courses and country clubs, besides a high salary.
Senior positions frequently include stock options, which make them even more appealing to those who intend to stay in their position for an extended period.
Investment bankers are to issue stocks and bonds as well as advise investors on which companies to buy or sell to increase the value of their portfolios.
To work in this field, you must have excellent analytical skills and an understanding of complex financial markets and business practices.
The job also causes excellent communication skills because it is typically done in teams, so you must communicate effectively with your team members.
This job may cause up to 80 hours per week of work and frequent travel. This is one of the best options if you want a job that pays $500k per year.
Actor
A film actor uses their voice or physical presence to play a character in a film. They research every aspect of the character, memorize the dialogue written by the screenwriter, and develop their own emotional life to appear authentic on screen.
Many actors go on media tours and promotional events, and they are constantly auditioning for new roles.
Top film actors can earn millions of dollars per film, and they can earn even more by deferring part or all of their salary against a percentage of the film’s gross, a practice known in the industry as a “profit participation” agreement.
To become an actor, you don’t need to have any experienced. Find out how: How Can I Become an Actor with no Experience: Full Guide
An author creates plays, articles, books, or any other type of written content. They consider the best way to tell a story or convey their ideas, and they employ specific language to entertain their audience.
A published author typically writes and submits a book to publishers, who then offer a contract and prepare the book for publication.
Other authors prefer to self-publish their book, which entails writing a piece and handling the publishing process entirely on their own.
While writing and publishing a book can be difficult, a lot of money can be made when an author gets a book deal. Because there are fewer costs involved, self-published authors can earn more royalties on a single book sale.
However, traditionally published authors earn fewer royalties on single book sales, but with a publishing house’s widespread marketing and distribution, they can earn more royalties from more book sales. In either case, if a book is trendy and sells well, authors can earn royalties above $500,000.
Lawyer
Lawyers are the highest-paying profession in the world, as I’m sure most people are aware. To make a good living in this field, you must study for several years, pass several exams, and pass the bar!
You’ll be required to represent clients, draft legal documents, and spend a significant amount of time advising clients on legal transactions or strategies.
This profession is known for requiring a lot of long hours and overtime, but the rewards for all of that hard work can be quite nice, such as a comfortable salary, stock options, and bonuses.
Becoming a lawyer doesn’t take as much time as you think. Find out: How Long Does it Take to Become a Lawyer in 2023?
Marketing Manager
Marketing managers are to develop, implement, and deliver the company’s marketing policies and plans. This can take many forms, but they will be more concerned with strategy rather than implementation.
In addition to a competitive annual salary and benefits package, good marketing managers may be eligible for commissions and bonuses based on sales targets or revenue. A marketing manager can make up to $500k annually.
Depending on your experience and past results, this figure may vary significantly until you prove your worth.
Accountancy & Finance: Head of Treasury
Heads of Treasury have some of the highest-paying jobs in Australia’s accounting and finance sector.
In Sydney, the average salary for a Head of Treasury is over $500k. Accounting professionals aspiring to roles in treasury management should have at least 10 years of experience in finance, banking, accounting, and/or in-house corporate treasury.
Other high-paying positions include Group Financial Controllers (typically $265K in organizations with more than $300 million in revenue), Heads of Internal Audit ($265K), Senior Commercial Managers/Directors ($255K in organizations with more than $300 million in revenue), Heads of Risk (also $255K), and Managers/Heads of Financial Planning/Analysis ($230K).
Top earners in professional practice include Corporate Finance Principals/Directors ($220K), Insolvency Principals/Directors ($200K), and Tax Consulting Principals/Directors ($180K).
Development Director
Development Directors, who can earn an average salary of $500k in the property sector today, are among the top earners.
Meanwhile, Development Managers earn an average salary of $133-255K, while Client-side Project Directors earn an average salary of $179-245K.
Oncologist
Oncologists are doctors who specialize in the treatment of cancer. An oncologist’s job entails diagnosing and treating patients with tumors, leukemia, lymphoma, myeloma, or any other type of cancerous growth.
They may also be involved in preventing or monitoring cancers before they develop.
One advantage of working as an oncologist is that it is rewarding. They make a difference in the lives of patients by assisting them in overcoming their illness and remaining cancer-free for as long as possible.
However, because they are constantly dealing with patients who may be terminally ill, it can be extremely emotionally draining.
Recognizing and treating cancer in its early stages will produce more effective results than leaving the tumor untreated.
Their success will be determined by the type of cancer they work with and their level of comfort in handling these cases. It is critical to understand various cancer and to value human life.
Dermatologist (Doctor of Dermatology)
Dermatologists are experts in diagnosing and treating skin conditions such as acne and psoriasis. This type of doctor is to diagnose these various skin diseases and provide treatments to their patients.
Cosmetic dermatology is the most common type of dermatology. It focuses on resolving the cosmetic consequences of skin diseases.
The average salary ranges between $150k and $350k per year, with some earning well over half a million dollars per year in their position!
One disadvantage of being a dermatologist is that it is not an adaptable profession. The hours can get long. As with any job in medicine, there are some significant drawbacks to being a dermatologist.
For example, you may be required to work on people who have skin diseases that cause severe physical pain. They may also come into contact with potentially hazardous materials used in treatments.
Furthermore, you may be exposed to diseases such as hepatitis, HIV, or other viruses through infected open wounds.
There are numerous advantages to working as a dermatologist. The job is well compensated (especially when considering factors like insurance). It is only for those who can handle these situations calmly and remain focused on the task at hand.
Manager of Hedge Funds
A hedge fund manager, also known as a portfolio manager, is to oversees their clients’ investment and financial strategies.
They are to make investment decisions for a pool of capital that is typically provided by investors who meet specified investment sophistication or net worth requirements.
They use advanced financial knowledge and analytical skills to develop fund goals and strategies for achieving them.
A hedge fund manager’s other responsibilities include staying up to date on government rules and regulations, keeping hedge fund members up to date on progress, monitoring investment performance, and making investment recommendations to clients.
Hedge fund managers charge their investors or clients a management fee and a performance fee, making hedge fund managers some of the highest-paid jobs in finance.
Hedge fund managers make good money for their companies. Discover the 20 Best-Paid Hedge Fund Managers In 2023 | Businesses
Software Designer
A software developer is to develop and maintain software applications. They usually have a bachelor’s degree in computer science or a closely related field.
Among their primary responsibilities are software development, application debugging, and documentation creation.
This job is a good fit if you want to make $500k a year because the average starting salary is $118,167.
Conclusion
$500k per year is not a typical salary for any worker worldwide, especially if you work a 9-5; the jobs listed above require more above-average dedication and drive.
They are jobs that require long years of putting in maximum effort and time; they are achievable but difficult. So pick one that suits you, and give it your all.
References
- How I Got Job: Jobs that pay 500k
- The desired desk: 20 jobs that pay 500k a year
- Indeed: Jobs that pay 500k a year
- Moneyning: Who earns 400k per year
- Wealthy Gorilla: Highest paying careers
- Forbes: What kind of jobs do software engineers who earn 500k per year do
- Financial samurai: Who makes a million dollar a year
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