[L_man]

Hi,

What do you guys think the highest paying careers are?

The usual answers are Investment Banking, Management Consultancy and Commercial Law, but I was wondering if anybody knew of any careers that paid well (preferably more) but were not as popular as the aforementioned careers.

Here are the careers that I currently believe pay the most:

- Financial/Commodities Broking
- Executive Search/Headhunting
- Trading (at a proprietary trading firm or hedgefund)

I wouldn't like to narrow this thread into just being about how much the careers pay but also a discussion of some the trade-offs involved as well as a frank discussion of these careers.


I'd like as much constructive input on the matter as possible so please tell as many people about the thread as possible post it on your facebook status if you will!

[Amhorangerdgerriug]

These careers do all pay a lot, but the very highest paid jobs go to the CEOs and the board of major companies.

[Rainingshame]

(Original post by Amhorangerdgerriug)
These careers do all pay a lot, but the very highest paid jobs go to the CEOs and the board of major companies.

Or hedge fund managers during the good times.

[L_man]

(Original post by Amhorangerdgerriug)
These careers do all pay a lot, but the very highest paid jobs go to the CEOs and the board of major companies.

OK, what do you reckon is a good way to get to CEO or board member positions?

[salmon1]

I think hedge fund managers/traders have a high average income yes, but the rich of the rich tend to come from retail and mining (to name a couple of industries that spring to mind) where the people at the very top accumulate masses of wealth.

Entrepreneurs too?

[Tateco]

(Original post by L_man)
OK, what do you reckon is a good way to get to CEO or board member positions?

There is no ideal route to these things, you need to work in thee industry for a very long time and work your way up. Once you have got to high places once it will be easier to move to similar positions with other companies.

[Palatial Veranda]

(Original post by L_man)
OK, what do you reckon is a good way to get to CEO or board member positions?

Lol

[L_man]

(Original post by salmon1)
I think hedge fund managers/traders have a high average income yes, but the rich of the rich tend to come from retail and mining (to name a couple of industries that spring to mind) where the people at the very top accumulate masses of wealth.

Entrepreneurs too?

Those who set up retail and mining firms? Yeah I'd say if your after the money then entrepreneurship is the way to go if you think you can make a success of it.

[Herr]

(Original post by Rainingshame)
Or hedge fund managers during the good times.

A good hedge fund manager will make money in both good and bad times. In fact many are making very good money during the downturn.

[non]

Just wondering how do you get into headhunting? I know what it is but I don't know of any direct paths to that career.

[Regent]

(Original post by L_man)
OK, what do you reckon is a good way to get to CEO or board member positions?

Take a look at the board of directors of any FTSE 100 company.

Most have the following backgrounds (not in any particular order): Bankers, general finance (e.g Big 4 ACAs), Strategy Consulting (e.g MBB/Accenture), industry specialist (e.g engineer at GE).

CFOs generally have strong finance backgrounds (Big 4 accounting or otherwise); might get the occasional banker or financial consultant but this is very rare.

[non]

(Original post by Regent)
Take a look at the board of directors of any FTSE 100 company.

Most have the following backgrounds (not in any particular order): Bankers, general finance (e.g Big 4 ACAs), Strategy Consulting (e.g MBB/Accenture), industry specialist (e.g engineer at GE).

CFOs generally have strong finance backgrounds (Big 4 accounting or otherwise); might get the occasional banker or financial consultant but this is very rare.

What's the best way to see the backgrounds of the board of directors of the ftse 100 companies?

[L_man]

(Original post by Tateco)
There is no ideal route to these things, you need to work in thee industry for a very long time and work your way up. Once you have got to high places once it will be easier to move to similar positions with other companies.

Cheers, I hear what you're saying in regards to there being no ideal route but do you do you think that in working in for example: Management Consultancy, Accountancy, Commercial Law or Investment Banking and trying to lateral over might perhaps improve ones chances to getting to these positions or do you think working in industry and working your way up might be a more effective way?

[Regent]

(Original post by L_man)
Hi,

What do you guys think the highest paying careers are?

The usual answers are Investment Banking, Management Consultancy and Commercial Law, but I was wondering if anybody knew of any careers that paid well (preferably more) but were not as popular as the aforementioned careers.

I'd add Accounting to that list as well. Not as sexy as Commercial Law but it definitely evens out at the senior level. Partners at large accounting firms make around the same as partners at the big law firms, if not more for some areas.

[Meee123]

Prostitution/Escorting

[sexbo]

Soul salesman.

[HLPCP]

Barristers can earn a fair amount, can be an interesting job as well.

[Rainingshame]

(Original post by Herr)
A good hedge fund manager will make money in both good and bad times. In fact many are making very good money during the downturn.

yes but in good times even the bad ones made money hands of fist :L just not as much as the good ones :P

[Frenchous]

(Original post by Meee123)
Prostitution/Escorting

Last time I went to my usual place, prices were down.

The gurlz just can't compete with eastern european competition which offers attractive material and low prices.

[Hearty_Beast]

Professional footballer/musician/artist/author/lottery winner...

Its hard work to get to the top (as in any profession) but they earn a fair bit...

Also top surgeons/businessmen/entrepreneur/programmers etc get a lot...

All these jobs will take a LOT of time, effort and money to get anywhere near a point where you'll start earning big money, and they only get paid so much because they are extremely skilled and put long hours in... Only go into a field if you enjoy it and are good at it, coz the work won't be worth the money (which you'll probably only get round to using when your retired) if you can't do/enjoy it.

These young, rich people you see in films would mostly be the kids of millionaires, it takes too long to actually get that rich (at least by honest means )