How to get a six-figure salary?

Top 10 Ways to Earn a Six-Figure Income Software Developer. Average income: $103,620 (according to US News) ... Full Stack Web Developer. Average income: $111,361 (data from Indeed) ... UX Designer. ... Data Scientist. ... Financial Manager. ... Airline Pilot. ... Realtor. ... Network Marketing. More items... •

wikijob.co.uk - 10 Ways to Earn a Six-Figure Income in 2023 - WikiJob

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3. UX Designer

Average income: for Google, $136,335 (according to Glassdoor)

UX (User Experience) designers create an environment where the end-user interacts with the product or service. A good UX designer creates a seamless experience for customers, allowing them to use online services from any device – as well as making sure that the environment suits the audience.

UX designers are involved in market research, product development, strategy and design.

Data science and computer science degrees aren’t necessary, but they do help. You can learn how to become a UX designer through online courses – the best ones will have the right combination of project-based learning and mentors so that you can get support from actual experts.

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4. Data Scientist

Average income: $113,309 (according to Glassdoor)

Data science sounds like a complicated role, but it mainly involves using and manipulating data sources to find information that can be used to create meaningful, actionable insights. Processing and analyzing data is useful across almost all industries, from healthcare to e-commerce. Data scientists are often experts in statistics and probability, computer science and communication, and although a data science degree is advantageous to gaining that top salary, online coding boot camps and other courses can provide you with the knowledge that you need to get qualified.

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5. Financial Manager

Average income: $127,990 (according to US News)

A financial manager coordinates and oversees the financial activities of major companies – from financial reports to profit projections. Financial managers need to comply with laws and regulations – and it is a competitive job market. For many firms, the minimum qualifications needed is a bachelor’s degree in finance, accounting, economics or business administration. The big companies (and those that consistently offer the biggest salaries) need a master’s degree. To get one of the high-salaried roles, alongside the degree education, you are likely to have more than five years of experience in finance roles.

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6. Airline Pilot

Average income: $110,816 (according to Glassdoor)

Becoming a pilot is often a dream of children, imagining taking to the skies. Qualifying as a pilot might not need formal education in terms of university degrees, but there are strict training requirements. Becoming any kind of pilot needs a license and a certain number of flying hours. You can learn to become an airline pilot through a full-time integrated course or modular training. Either way, it can be a costly career path, with training costing between $70–200k. When you consider that captains can earn several hundred thousand dollars and the need for well-trained pilots increases year on year, the investment can seem worth it. If you want to find out whether you are suited to a career as an airline pilot, it might help you to learn more about the pilot aptitude tests that are part of the application process.

7. Realtor

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Average income: depending on location, top earners can easily make $100k+

Real estate is a market that seems to be steady, with property holding value and remaining a tradeable commodity. People are always looking for new homes, so becoming a real estate agent gives you the opportunity to make money from this exchange. Real estate agents are typically paid through commission, and with average rates at about 5%, selling $4 million in property will get you a nice six-figure income. Becoming a real estate agent means passing an exam to become licensed, and working on behalf of a real estate broker. The exact rules for licensing do vary from state to state, so some research is needed to ensure that you meet local requirements. Earning a six-figure commission is more likely when the area you are buying and selling houses has high prices – for example, in larger metropolitan areas. Moving into real estate is a popular choice for those looking for a midlife career change, making the most of transferable skills from other careers.

8. Network Marketing

Average income: early adopters and some other network marketers can earn over $100k Network marketing, also known as direct sales and multi-level marketing, is a process where a company creates a product or service and then recruits independent reps to sell it for them. These reps are paid commission on sales and encourage others to sign up under them – and then are also paid a percentage of their ‘down-line’ sales.

It is popular with those looking for stay-at-home working opportunities.

Network marketing is certainly not for the faint-hearted, it isn’t easy to make those six-figure sums. In many cases, independent reps must invest money in starter kits and products before they can make money, and it isn’t rare to find network marketers who make a loss. If you are prepared to use your network, encourage others to take the risk, and invest money, energy and commitment, then achieving that six-figure income can happen.

9. Property Investment

Average income: $100k+ depending on area and property types

Property investment is credited as a great way to make money, with many millionaires investing in property portfolios for the huge tax breaks. Getting into property investment doesn’t need a degree – or any formal education – but you do need to have some idea of what the market is like and where investment is likely to be more buoyant. Whether you buy a ‘fixer-upper’ to remodel and sell for a profit, want to make the most of ongoing income from rental yield, or make the most of tourism with an Airbnb, property investment makes sense if you are looking to become asset rich. Of course, to make the six-figure income from property, you need to have a rather large portfolio – so it might take some time and there are risks involved.

10. Passive Income

Average income: hard to define, depends on streams chosen

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'Passive income' is a term used to define ways you can make money without having to do anything. For some entrepreneurs, passive income earns them a fortune while they sleep; but the reality is, you need to create one thing and sell it lots of times.

This might be an eBook or an online course, for example.

Passive income streams can include:

YouTube. Creating videos on almost any subject can get subscribers – and YouTube channels that have a certain number of subscribers can get money from adverts placed in and around their uploads. This ad revenue can make money on an ongoing basis. Onlyfans/Patreon. This is creating content specifically for subscribers, who are usually paying a monthly amount. This content can be videos, music or even learning resources. Affiliate marketing. If you have a blog or a website, affiliate links can help you earn money from links placed in your content. Index funds. A passive portfolio of stocks and bonds that have lower fees than those that are actively managed. High dividend stocks. Owning high-yield stocks in a company can be a risky business, but the rewards can be much higher. Become a business silent partner. If you have money to invest, you could become a silent partner in a business that needs funds in return for a percentage of the profits. The amount of income from each stream will vary, of course, but a combination of these can add up to help you achieve a comfortable six-figure income – without an hourly commitment.

Final Thoughts

Achieving a six-figure income is seen as the benchmark for success – and there are so many routes for getting there, depending on what your education, background and interests are. If you are just starting on your career path or looking at routes through higher education, then getting a degree in your chosen field (especially one in the growth industries like tech, software and health) is a great place to start. Following a career path that moves towards one of the top paid jobs, if you can, makes you more likely to get the qualifications and the experience you need to achieve that magic number. Of course, if you have talent and expertise in almost any niche, you can achieve the highest income – if you can apply that alongside the drive, self-motivation and will to succeed. Taking the time to research careers and income sources that can net you the most money – and then working on gaining the necessary skills, knowledge and experience to be in the position to make the most of them – is how you will get there. Make the most of your inherent talent and skills – alongside your passion – to achieve that six-figure salary in 2023.

wikijob.co.uk - 10 Ways to Earn a Six-Figure Income in 2023 - WikiJob

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