Credit: Juan Silva | The Image Bank | Getty Images
According to the Pew Research Center, approximately 19 percent of Americans make enough money to be considered rich, or in the upper-income echelon of all households. What job makes the most money? While average incomes vary by location, individuals are typically classified as “rich” if they earn at least twice the median national household income per year. In 2021 this number was $79,900, meaning a household needed to make at least $122,744 to fall into the upper-income/rich category. For the purpose of this guide, however, “rich” will be defined as anyone who earns a salary of around $100,000 or more per year.
This guide can be a resource for you in the beginning or early stages of your career, if you want to plan for your future by not only selecting a lucrative career right out of college, but also take steps toward maximizing your earning potential in the long-term. If you are a midlife career-changer, you may also find this guide helpful if you wish to explore a new industry or field. Keep reading to find a career that makes you rich.
Careers That Make You Rich
What are some of the jobs that make you rich? A wide variety of high-paying careers for graduates of all degree levels exist, but you must know where to look for and how to pursue them. The following three sections take a look at the top paying jobs for those who have (or intend to complete) a bachelor's, master's, or doctoral/professional degree.
To come up with each list of what jobs make the most money, we looked at how experience, education, location, and ongoing training affect earning potential so job seekers could see how salaries fluctuate. We paid special attention to ensuring a wide variety of job types and industries were represented. Data and information was collected from the Bureau of Labor Statistics, the U.S. Department of Labor, and PayScale. When reviewing what job makes you rich, keep in mind that starting salaries vary significantly based on location, type of industry, and employer. For instance, an individual working in marketing for a nonprofit will likely earn less than someone in the same role at a large corporate entity. You should also note that some jobs require several years of experience before salaries begin to rise significantly.
High-Paying Careers That Require a Bachelor's Degree
Chief Executive Officer
Working at the helm of a company, CEOs oversee all departments, receive reports from departmental heads, set strategic goals, monitor budgets, make high-level decisions, lead all staff, and, in some cases, report to a board of directors. Most hold a business or business-related bachelor's degree and significant work experience in other roles.
Salary Per Years of Experience
| Years of Experience | Salary |
|---|---|
| 0-5 Years | $120,000 |
| 5-10 Years | $154,000 |
| 10-20 Years | $193,000 |
| 20+ Years | $229,000 |
2020 Median Annual Salary
How to Get Rich:
Unless you start your own company, you most likely will not receive the title of CEO until you work your way up to the top position. You can earn a higher salary by working in top-paying industries, including:
- Professional, scientific and technical services
- Manufacturing
- Healthcare and social assistance
- The government
Computer & Information Systems Manager
Professionals in this position oversee the technological needs of their companies and ensure employees receive proper equipment and training. They also oversee maintenance, installation of hardware/software, network security, and other computer professionals in their departments. Most have a bachelor's degree in computer science or information technology and several years of work experience.
Salary Per Years of Experience
| Years of Experience | Salary |
|---|---|
| 0-5 Years | $70,000 |
| 5-10 Years | $90,000 |
| 10-20 Years | $122,000 |
| 20+ Years | $132,000 |
2020 Median Annual Salary
How to Get Rich:
You can maximize your earning potential in this field by considering industry and location when planning your career. New York, New Jersey, California, Virginia, and Washington D.C. currently provide the highest annual median wages. Certain industries also pay more than others. Some of the highest earners work in:
- Information
- Computer systems design
- Finance and insurance
- Manufacturing
- Management
Architectural/Engineering Manager
Acting as project managers, these professionals oversee the work of architects or engineers in a wide variety of industries. They manage workflow, make decisions about staffing, train staff, maintain budgets, report to other senior-level staff, and create strategic goals. Most hold an architecture or engineering bachelor's degree and significant work experience.
Salary Per Years of Experience
| Years of Experience | Salary |
|---|---|
| 0-5 Years | $114,000 |
| 5-10 Years | $141,000 |
| 10-20 Years | $153,000 |
| 20+ Years | $154,000 |
2020 Median Annual Salary
How to Get Rich:
If you're a manager in these industries hoping to boost your salary, you should look closely at the different types of industries and subfields to pursue, as well as where you live. The highest paying industries include:
- Scientific research
- Enterprise management
- Manufacturing
- Architectural/engineering services
- Government work
Highest paying states include Colorado, Texas, California, New Jersey, and Virginia.
Pilot
Whether navigating small charter planes, military helicopters, or commercial jets, pilots fly planes to all corners of the earth carrying both passengers and cargo. They monitor flight conditions, check the plane for safety, communicate with their copilots and air traffic control, and ensure the plane flies smoothly. A bachelor's degree and training to receive a license and Airline Transport Pilot (ATP) certificate are required.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $69,000 |
| 5-10 Years | $91,000 |
| 10-20 Years | $129,000 |
| 20+ Years | $197,000 |
2020 Median Annual Salary
How to Get Rich:
While commercial piloting exists as the most visible career path, some pilots decide to fly charter planes for private wealthy clients, while others work with cargo corporations to transport consumer and other goods. Scheduled air transportation offers the highest industry salaries, while nonscheduled transportation and the federal government offer the second and third highest incomes, respectively.
Petroleum Engineer
Working alongside other engineers and natural resource professionals, petroleum engineers devise safe and effective means of extricating oil and gas from new and existing wells. They may work to design equipment, create work plans for drilling fields, or oversee these tools' installation and operation. These professionals must possess a bachelor's degree in petroleum engineering.
Salary Per Years of Experience
| Years of Experience | Salary |
|---|---|
| 0-5 Years | $97,000 |
| 5-10 Years | $120,000 |
| 10-20 Years | $140,000 |
| 20+ Years | $177,000 |
2020 Median Annual Salary
How to Get Rich:
In addition to work experience, petroleum engineers looking to earn the highest salaries should pursue management roles after gaining a few years of experience. You should also consider location – the BLS called out New Jersey for being the top paying state for petroleum engineers.
Marketing Manager
Marketing managers can be found in every industry. They create marketing plans to achieve business goals, oversee staff, develop and monitor budgets, liaise with other departments, and review market research. Most possess bachelor's degrees in marketing or advertising and have worked their way up the ranks.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $85,000 |
| 5-10 Years | $97,000 |
| 10-20 Years | $112,000 |
| 20+ Years | $119,000 |
2020 Median Annual Salary
How to Get Rich:
Working in a lucrative industry can help secure a top salary. While the professional, technical, and scientific service industries pay these professionals annual mean wages of $150,840 according to the BLS, those in the finance and insurance industry earn a $150,280 mean wage. Location also plays a big role. The following states offer the highest salaries: New York, New Jersey, California, Virginia, Colorado.
Financial Manager
Sometimes referred to as CFOs, financial managers oversee the financial viability of their companies. They oversee budgets, set financial goals, develop reports for company leadership and/or boards, look for ways of cutting costs, and direct others on their team. Most hold a bachelor's degree in finance, accounting, or another business-related field.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $100,000 |
| 5-10 Years | $128,000 |
| 10-20 Years | $142,000 |
| 20+ Years | $142,000 |
2020 Median Annual Salary
How to Get Rich:
In addition to experience, the type of industry you work in plays a significant role in your salary. The BLS notes that those working in information services and securities/financial investments earn annual salaries in excess of $200,000 annually. If you go on to work in credit intermediation, conversely, you could earn an annual mean salary of $124,040.
Sales Manager
Sales managers oversee efforts to sell a company's products or services to clients. They train sales associates, set monthly and yearly targets, review sales data, create sales training programs, review customer satisfaction data, create projections, and set special pricing plans. Most hold a bachelor's degree in marketing, advertising, or a business-related subject.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $70,000 |
| 5-10 Years | $102,000 |
| 10-20 Years | $124,000 |
| 20+ Years | $127,000 |
2020 Median Annual Salary
How to Get Rich:
Experience and industry play key roles in this career. You must spend time honing sales skills before taking on a managerial role. If you earn commissions, you could also stand to inflate your salaries significantly – especially if you work in areas like commodities/financial investments, oil and gas extraction, legal services, and scientific research and development.
Compensation & Benefits Manager
Working with human relations staff, these professionals oversee programs that provide compensation and benefits to employees. They set wages for individual roles, oversee payroll, ensure their company is following state and federal regulations, create and maintain budgets, and work with vendors to create benefits packages.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $89,000 |
| 5-10 Years | $103,000 |
| 10-20 Years | $109,000 |
| 20+ Years | $105,000 |
2020 Median Annual Salary
How to Get Rich:
While industry doesn't play as significant a role in earnings for this career, location does. Rhode Island, New Jersey, Delaware, New York, and Connecticut offer the highest annual median salaries. You can also work towards director or chief human resources officer positions to further boost income.
Natural Sciences Manager
Sometimes known as laboratory managers, these scientists oversee research and development conducted by natural scientists. In addition to research responsibilities, they also oversee lab budgets, create research goals, ensure researchers possess the training and equipment needed, and oversee proposal development. A bachelor's degree in a natural science and work experience is typically required.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $75,000 |
| 5-10 Years | $101,000 |
| 10-20 Years | $117,000 |
| 20+ Years | $125,000 |
2020 Median Annual Salary
How to Get Rich:
Further education is not required, but managers who complete project management certification or an advanced degree often earn higher salaries. You should also consider which industry to work in. Those in grant-making and giving services earn a mean salary of $198,050 annually while those overseeing federal executive branches earn $127,370 each year.
High-Paying Careers That Require a Master's Degree
Nurse Anesthetist
Working alongside anesthesiologists, doctors, and other nursing and healthcare professionals, nurse anesthetists administer anesthesia, evaluate patients, consult with care providers, review medical histories, and ensure patients receive correct dosages of anesthetics. They must hold a master's degree in nurse anesthetics and receive licensure as an advanced practice registered nurse (APRN).
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $133,000 |
| 5-10 Years | $149,000 |
| 10-20 Years | $157,000 |
| 20+ Years | $167,000 |
2020 Median Annual Salary
How to Get Rich:
Like anesthesiologists, nurse anesthetists can specialize in particular areas of the field (e.g. pain management, orthopedic, or critical care anesthesiology) and receive credentials to earn higher salaries. The highest paying employers include hospitals, outpatient care centers, physicians' offices, health practitioners' offices, and educational service agencies.
Political Scientist
Political scientists have many career opportunities available to them. Some go into academia to train the next generation, while others work as researchers studying political data and the changes in political trends. Still, others decide to work with political candidates to hold office or lend their services to government agencies. A master's degree in political science is required.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $56,000 |
| 5-10 Years | $61,000 |
| 10-20 Years | $99,000 |
| 20+ Years | $147,000 |
2020 Median Annual Salary
How to Get Rich:
Work experience and reputation play significant roles in earning potential, as does industry. If you go to work for the federal government, you could earn the highest salary. Working in research placed second. As the BLS notes, political scientists working in social advocacy groups earned mean annual salaries of $100,480. Aspiring teachers often need to complete a doctoral degree to earn the highest incomes.
Computer & Information Research Scientist
With an eye to thinking outside the box, these professionals work on designing new technologies to address pressing needs in various industries. They address ongoing issues and solve problems, improve existing technologies, conduct experiments, and share findings in trade and academic journals. Most possess master's degrees in computer science or related subjects.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $93,000 |
| 5-10 Years | $101,000 |
| 10-20 Years | $102,000 |
| 20+ Years | $111,000 |
2020 Median Annual Salary
How to Get Rich:
The industry you work in heavily determines salary outcomes. The aerospace industry pays the highest income, with commodities/financial investments, instruments manufacturing, and professional/commercial equipment following. If you hope to further augment earning potential, you might work toward managerial roles in the field.
Physician Assistant
PAs work alongside doctors and other medical professionals to examine patients, diagnose them, and create treatment plans. They order and review tests, provide prescriptions, educate patients and their families about options and best care practices, and monitor the patient throughout the process. They must complete a master's level physician assistant program that includes direct patient care and receive licensure.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $89,000 |
| 5-10 Years | $100,000 |
| 10-20 Years | $105,000 |
| 20+ Years | $106,000 |
2020 Median Annual Salary
How to Get Rich:
Like other medical professions, your area of practice influences your salary potential. If you specialize in areas of pathology, dermatology, emergency medicine, or critical care, you could stand to earn higher incomes. You should also consider location, as the following states have the highest annual median wages: Alaska ,Connecticut, Rhode Island, California, Nevada
Nurse Practitioner
Working as Advanced Practice Registered Nurses (APRNs), these professionals oversee other nurses, coordinate care, liaise with other medical professionals, conduct or order tests, review results, administer medicine and/or treatment, and monitor patients while in their care. They must hold a master's in nursing with clinical experience and pass a licensure exam.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $90,000 |
| 5-10 Years | $97,000 |
| 10-20 Years | $101,000 |
| 20+ Years | $105,000 |
2020 Median Annual Salary
How to Get Rich:
Experience is important, as most individuals work as RNs before moving into this advanced role. Specialties can also be a factor, as those working in particular areas (e.g. gerontology, acute care, emergency services, or neonatal) can command higher wages. NPs working in California, Alaska, Hawaii, New Jersey, and New York earn significantly more than the national average.
Mathematician
Individuals with master's in mathematics enjoy diverse careers. Some work in research areas to develop new theories and concepts, while others use their knowledge to teach others about the rules and techniques of the discipline. Still others support organizations or companies in mathematical functions. Still, others support organizations or companies in mathematical functions.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $62,000 |
| 5-10 Years | $77,000 |
| 10-20 Years | $85,000 |
| 20+ Years | $102,000 |
2020 Median Annual Salary
How to Get Rich:
Earnings for mathematicians depend mostly on two factors: level of experience and focus area. As your experience and notoriety increase (though findings, published papers, etc.), so will your salary. If you are hoping to get rich, you might work for local governments or in research as these offer annual mean wages of ~$125,000, according to the BLS. Colleges and universities, conversely, offer salaries in the neighborhood of $60,000.
Economist
Whether working in research, academia, or for an individual company, economists study how products, resources, and services are created and distributed. They review existing data, conduct surveys, research trends, and compare all the data against current economic issues. They may present findings to clients or publish research. Most hold a master's in economics, though some possess a doctorate.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $63,000 |
| 5-10 Years | $89,000 |
| 10-20 Years | $102,000 |
| 20+ Years | $119,000 |
2020 Median Annual Salary
How to Get Rich:
Unlike other positions, location plays only a minor role in income potential. Industry, however, matters a great deal. The BLS found that individuals working in legal services earn annual mean wages of $216,960 while those employed by state governments earned just $75,560 each year.
Nurse Midwife
Working with expecting and new mothers, nurse midwives coordinate the care for both the mother and child before, during, and after delivery. They liaise with other medical professionals, monitor vital statistics, create birthing plans, and support patients and their families along the way. They must hold a master's in nursing, specific experience in midwifery, and licensure.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $87,000 |
| 5-10 Years | $95,000 |
| 10-20 Years | $92,000 |
| 20+ Years | $108,000 |
2020 Median Annual Salary
How to Get Rich:
While certification isn't required, it can help boost your earnings in this career. Location also affects income, with midwives in the following areas earning the highest annual mean wages: California, Maryland, Arizona, Massachusetts, and New Jersey.
Industrial-Organizational Psychologist
If you don't want to complete a doctoral degree, industrial-organizational psychology roles allow you to use your skills and knowledge, earn high salaries, and avoid additional education and potential student loans. These professionals work with companies either as an employee or consultant to improve employee and production outcomes, develop policies, review HR practices, and train senior-level workers. They must hold a master's degree in psychology.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $64,000 |
| 5-10 Years | $91,000 |
| 10-20 Years | $112,000 |
| 20+ Years | $131,000 |
2020 Median Annual Salary
How to Get Rich:
As evidenced by the above table, experience plays a critical role in earnings, as those with more years of work under their belts can command higher wages. Industry can also serve as a determining factor: those working in scientific research and development earned annual mean wages of $150,910 according to the BLS, while those employed by state governments earned $86,460.
Education Administrator
These professionals, also known as principals, oversee elementary, middle, and high schools by providing leadership for teachers and administrative staff. They set budgets, liaise with the school board, oversee disciplinary measures, meet with parents, develop and monitor curricular standards, and create professional development opportunities. They often hold master's degrees in education administration.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $51,000 |
| 5-10 Years | $61,000 |
| 10-20 Years | $73,000 |
| 20+ Years | $80,000 |
2020 Median Annual Salary
How to Get Rich:
Experience counts towards salary a great deal as principals gain additional knowledge and oversee larger schools. Location also plays a critical role. The BLS found that educational administrators in North Carolina earn annual mean wages of $76,680, while those in New York bring home $141,020 each year.
High-Paying Careers That Require a Doctorate or Professional Degree
Anesthesiologist
These medical professionals administer local and general anesthesia to patients undergoing routine and major surgeries. They work in concert with doctors to ascertain the amount of medicine needed and monitor patients throughout. Anesthesiologists must possess an advanced medical degree and complete internships and residencies to receive licensure.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $244,000 |
| 5-10 Years | $286,000 |
| 10-20 Years | $300,000 |
| 20+ Years | $313,000 |
2020 Median Annual Salary
How to Get Rich:
Starting salaries for anesthesiologists are far higher than national averages, but you can take additional steps to boost salaries. Examples include specializing in areas such as neurosurgical, cardiothoracic, or pediatric anesthesia. You can also work in one of the highest paying states, which currently include: California, Connecticut, Florida, Hawaii, Maine
Orthodontist
Orthodontists focus their dental care in treating issues requiring braces or other devices to help straighten teeth and maintain overall dental health. They monitor progress, make adjustments as needed, and create long-term plans of care to maintain changes after removing the braces. In addition to completing postgraduate work at a dental school, orthodontists must undertake a residency lasting two to four years and gain licensure.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $152,000 |
| 5-10 Years | $189,000 |
| 10-20 Years | $189,000 |
| 20+ Years | $200,000 |
2020 Median Annual Salary
How to Get Rich:
Orthodontists may choose to further specialize their work in areas of oral and maxillofacial surgery or work with specific populations (e.g. children, patients with dental-facial challenges). States currently offering the highest annual median wages include Arkansas, Massachusetts, Nebraska, Oregon, and Oklahoma.
Judge/Magistrate
Working in a variety of court settings, judges hear cases, weigh arguments and evidence presented, maintain procedures, and reach verdicts based on information available and the existing laws. They may work at the local, state, or federal level. All judges must obtain a Juris Doctor and the vast majority possess experience clerking and/or working as a lawyer.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $49,000 |
| 5-10 Years | $59,000 |
| 10-20 Years | $98,000 |
| 20+ Years | $94,000 |
2020 Median Annual Salary
How to Get Rich:
Numerous factors affect a judge's annual salary. If you work in the federal government, you could make significantly more than judges at the state or local level. Similarly, those in specific states earn far more than others. According to the BLS, California, for instance, pays annual mean wages of $195,700 – well above the national average.
Pharmacist
Pharmacists take prescriptions given to patients by doctors and provide approved medications. They review instructions with individuals, ensure no interactions with other drugs the patient is taking, handle insurance forms, and manage pharmacy technicians working under them. They must hold a doctor of pharmacy degree and a license to practice.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $109,000 |
| 5-10 Years | $118,000 |
| 10-20 Years | $120,000 |
| 20+ Years | $121,000 |
2020 Median Annual Salary
How to Get Rich:
Unlike other positions in this ranking, experience and industry area don't matter as much for pharmacists in terms of salary potential. The biggest difference seems to be location. While those in places such as Alaska, California, Vermont, and Maine earn between $130,000-$150,000 annually, pharmacists in Montana, Nebraska, Iowa, and Oklahoma earn annual mean wages of ~$117,000, notes the BLS.
Lawyer
Lawyers work with individual clients, as in-house counsel for corporations, and on-staff at government agencies. They argue cases before courts, research and provide legal advice based on established laws and precedents, file legal documents, and work with other lawyers when preparing a case. They must hold a Juris Doctor and pass their state's bar exam.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $70,000 |
| 5-10 Years | $98,000 |
| 10-20 Years | $119,000 |
| 20+ Years | $139,000 |
2020 Median Annual Salary
How to Get Rich:
Lawyers earn more money as they move up in their careers, starting as associates and eventually becoming partners if working in a firm. Others seek their fortunes working as lobbyists, which tends to be lucrative. The BLS found that those working in specialized design, motion picture and video industries, cable and subscription programming, and computer manufacturing earn in excess of $200,000 annually.
Physicist
Physicists study the interactions of matter and energy in order to develop further understanding of the natural world. They may use this knowledge in the classroom to teach others, in the laboratory to conduct experiments, or for scientific organizations to analyze data. They most often possess a doctoral degree in physics.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $72,000 |
| 5-10 Years | $89,000 |
| 10-20 Years | $114,000 |
| 20+ Years | $135,000 |
2020 Median Annual Salary
How to Get Rich:
Experience matters significantly for physicists as they work their way up the ranks and take on more senior-level roles. Industry also plays a part: those working in general medical and surgical hospitals earn over $186,000 annually while those employed by higher education institutions make just over $83,000, according to the BLS.
Optometrist
These medical professionals help improve eyesight issues affecting their patients, diagnose diseases and injuries, prescribe sight-improving aids such as glasses and contacts, create treatment plans, and provide guidance on proper eye health and care. They must complete a doctor of optometry degree and receive state licensure.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $99,000 |
| 5-10 Years | $108,000 |
| 10-20 Years | $112,000 |
| 20+ Years | $118,000 |
2020 Median Annual Salary
How to Get Rich:
More so than factors such as industry or experience, location matters greatly in terms of income potential. BLS researchers found that optometrists in the District of Columbia earn $189,750 annually while those in Utah earn $85,550. Specialists focused on advanced care in areas of glaucoma, macular degeneration, brain injuries, and neuro-optometric issues also stand to earn more.
Astronomer
With a focus on studying the universe beyond earth, astronomers seek to learn more about the planets, stars, and other objects within the solar system. In addition to observing the universe through telescopes, they also work with other space professionals to develop tools and vehicles that explore planets and expand their understanding. They must possess a Ph.D. in astronomy.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $97,000 |
| 5-10 Years | $82,000 |
| 10-20 Years | $87,000 |
| 20+ Years | $120,000 |
2020 Median Annual Salary
How to Get Rich:
If you're working in this role and are looking to increase your income, you should carefully consider the industry you work in. BLS data shows that the federal executive branch, which includes NASA, offers annual mean wages of $146,440, while higher education provides salaries in the neighborhood of $96,000.
Engineering Professor
With their extensive knowledge of both the practical and theoretical aspects of engineering, professors in this field teach students at all degree levels and prepare them to work in the field. They typically concentrate their knowledge in a particular area (e.g. electrical, computer, or nuclear). Professors often continue their research and contribute to academic journals or write books. They must possess a doctoral degree in the majority of cases.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $60,000 |
| 5-10 Years | $71,000 |
| 10-20 Years | $86,000 |
| 20+ Years | $99,000 |
2020 Median Annual Salary
How to Get Rich:
If you're preparing for positions as an engineering professor, you should consider three factors when trying to get rich: experience, location, and specialization. Newly minted professors make far less than seasoned ones, while certain locales – such as New Hampshire, Maryland, and Massachusetts – pay more than other states. Lastly, some focus areas (e.g. mechanical, industrial, agricultural) offer higher salaries.
Biochemist/Biophysicist
Whether focusing their efforts on chemistry or physics, scientists in these lines of work conduct research in labs, perform tests to learn new findings, oversee the work of laboratory technicians, confer with other scientists and clients about their findings, and write papers. Some may work in academia as well. They frequently need to possess a Ph.D. in biochemistry or biophysics for the most lucrative roles.
Salary Per Years of Experience| Years of Experience | Salary |
|---|---|
| 0-5 Years | $75,000 |
| 5-10 Years | $85,000 |
| 10-20 Years | $91,000 |
| 20+ Years | $102,000 |
2020 Median Annual Salary
How to Get Rich:
Biophysicists and biochemists can choose from many different avenues of work, some offering higher pay than others. The BLS notes that those working in physicians' offices earn annual mean wages of $138,830, while those who opt to work in higher education earn $65,640.
Other Ways to Get Rich
-
Pursue an advanced degree
According to data from Georgetown University's Center on Education and the Workforce, those with bachelor's degrees received lifetime earnings of $2.3 million while those with a master's degree averaged $2.7 million. Those with doctorates (excluding professional degrees), meanwhile, earned $3.3 million. Undertaking another degree could be your ticket to higher earnings.
-
Get certified
In many industries, certificates can help you specialize your knowledge in a subfield, stand out from the competition, and confirm their expertise to existing and new employers. Most certificates can be finished in less than two years of study and often result in the ability to command higher salaries after completion.
-
Learn a new skill
No matter the industry or area of work, you don't necessarily need to complete a full degree or even a certificate program to increase your earning potential. If you're looking to gain a new skill, look at the schedules for local universities and community colleges. You can take a few classes in-person or online to boost your value while still keeping your current job.
-
Seek a promotion
Even without gaining a degree or certificate, if you're working hard in your job, you might frequently receive promotions after a few years of hard work and demonstrated achievements. If you haven't been promoted recently, sit down with your supervisor and have a frank but respectful conversation about your next steps in the company and what you can do to set yourself up for a raise in the upcoming quarter.
-
Find a side hustle
If you've exhausted income boosting ideas at your current job, consider picking up a side hustle to add to your wages. You may decide to teach a local class at your gym or community center, nanny on nights/weekends, find freelance clients for tasks such as writing or virtual assisting, or create objects and sell them on websites such as Etsy.
-
Invest
If you're able to save money with no clear spending purpose, consider investing it. Depending on your investment plan, how long you plan to use the money for that purpose, and how the market behaves during that time frame, you can increase your wealth via the return on investment.
LearnHowToBecome.com is an advertising-supported site. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site.
View the most relevant programs for your interests and compare them by tuition, acceptance rate, and other factors important to you.
