Most people think becoming a millionaire is just going into business and investing.
While on the other hand, 15% of millionaires become through high-paying jobs.
To get started with your career decision we have created a list of 25 jobs that turned people into millionaires, their annual income, Expected highest annual salary.
However, it is important to consider the steps required for a millionaire job and act accordingly. Let’s walk into it.
Table of Content
How to find jobs that can make you a millionaire
Step 1: Research
If you are looking for a high-paying job, then it is important to start by doing your research. Look at the average salaries for different careers and see which ones offer the potential to make six or seven figures.
Step 2: Acquire relevant skillset
Once you have selected the career you want to pursue, pursue relevant education, and gain industry-specific skills.
Step 3: Get it hands-on
It’s always good to get hands-on experience if possible (i.e., volunteer work), but online courses can also be a very useful tool. If you’re able to secure an internship with a company, even better.
Step 4: Networking
Finally, do not forget to build strong connections along the way. The more people you know, the higher chance you have of landing that dream job.
Getting a high-paying job is not enough to become a millionaire. You also need to invest in the stock market with a proper investment strategy.
You don’t need to become an active investor, you can invest in low-cost index funds, mutual funds, or sector-specific baskets which will help you to achieve millionaire status.
30 Jobs that can make you a millionaire
To get easier for you we have divided jobs into 7 major categories to get rid of the chaos in finding jobs in the same niche.
These 7 major categories are as follows –
- Commerce and Finance
- Medical
- Coding and Development
- Management
- Engineering
- Creative Jobs
- Other jobs
Commerce and Finance
Registered Investment Advisor
– Average Salary – $75K per annum
– Potential millionaire salary – $100K per annum
The investment advisor is one of the most emerging career options out there if you are interested in the stock market and investments.
With the increasing financial literacy, more and more people are entering the stock market to build their wealth.
Sometimes it becomes a little difficult for them to get started and be consistent. While you can help them through their investment decision and can make big money.
Investment banker
– Average Salary: $100K per annum (However it mostly started with $60K to $70K per year)
– Potential millionaire salary: $200K per annum
Investment bankers’ major role is to help companies to raise money for their growth and expansion. It is one of the most preferable
Certified Public Accountant
– Average Salary: $82K per annum
– Potential millionaire salary: $100K per annum (depending on the number of clients you have and your rate)
CPA is considered the most prestigious profession in the commerce and finance industry.
While it is considered one of the most difficult courses out there can get you up to ₹50K packages even as a fresher.
Financial Planner
– Average Salary: $72K per annum (Varies greatly depending on experience, license level, etc.)
– Potential millionaire salary: $100K per annum
As a financial planner, you will get the opportunity to help people in budgeting and their investing journey.
Economist
– Average Salary: $60K per annum at entry-level; can earn well over $110K annually with decent experience.
– Potential millionaire salary: $200K per annum (depending on your skill and how well you negotiate)
Economists are generally preparing data charts and making predictions based on researching, and analyzing the data, issues, and trends.
Financial Analyst
– Average Salary: Varies depending on job and success. The average financial trader makes about $70K per year; those who earn more than this are in the minority as there is such a high level of competition.
– Potential millionaire salary: $120K per annum (depending on the size and success of your investments)
Business Consultant
– Average Salary: $80K per annum
– Potential millionaire salary: $100 per annum (depending on the number of clients you have and the quality of service you offers)
They guide businesses where they should give more emphasis and resources to grow them.
A business consultant improves the operations of a company by assessing mistakes and giving recommendations to improve.
Related article – 25 jobs that can make you a millionaire without a college degree
Medical
Doctor
– Average Salary: $150K per annum
– Potential millionaire salary: $400K per annum (depending on the specialty and number of years spent practicing)
The doctor is one of the safest professions which had been our parent’s favorite one. While the expected cost to become a doctor normally ranges from $150K to $250K.
During the period of the Corona, pandemics give rise to the number of vacancies for doctors with handsome salaries.
Dentist
– Average Salary: $170K per annum
– Potential millionaire salary: $300K per annum
Dentists are the ones who help people with oral health. They are responsible for diagnosing, treating, and preventing diseases of the teeth, gums, and mouth.
A dentist is also known as Dental Surgeon, Oral Surgeon, or Oral Medicine Specialist
Cardiologist
– Average Salary: $400K per annum (Generally starts from $200K per annum)
– Potential millionaire salary: $800K per annum
A cardiologist is a medical doctor who specializes in the diagnosis and treatment of heart disease. They are trained to diagnose, treat, and prevent all types of cardiovascular disease.
In the USA, the demand for cardiologists has been rising due to the increase in obesity of general people which results in heart diseases.
Coding and Development
Cyber Security Specialist
– Average Salary: $80K per annum
– Potential Millionaire Salary: $100K per annum
With the increasing pace of development of the virtual world demand for Cyber Security Specialists increases to protect the data from hackers.
The non-availability of people with the required skills, and salary packages for Cyber Security Specialists is high compared to other professions.
Cloud Engineers and Architects
– Average Salary: $90K per annum
– Potential Millionaire Salary: $120K per annum
With the increasing adoption of cloud computers, demand for Cloud Engineers and Architects has skyrocketed.
If you have a degree in cloud computing and are well versed in programming you can get a raise up to 60% compares to the base salary.
Full-Stack Developer
– Average Salary: $100K per annum
– Potential Millionaire Salary: $200K per annum
A full-stack developer is a person who is well equipped with front-end and back-end development.
Demand for jobs related to coding, web development, and other related things is increasing as a result of it Full-stack developers are in demand right now.
In a recent report by Zee Business, there is a 20% increase in the demand for Full-stack web developers compared to last year.
Software Developers
– Average Salary: $70K per annum
– Potential Millionaire Salary: $100K per annum
Software developers build software and apps that we use on day to day basis.
In every niche of business, apps have started playing a major role in the tracking of their user profile which increases the demand for software developers.
Management
Managers and CEO
– Average Salary: $80K per annum (However CEOs earn even more depending on the size of their company and the success of its stock value)
– Potential millionaire salary: $200K per annum
The role of the manager is to make an environment in which organizations can flourish and expand their business.
Compensation and Benefits Manager
– Average Salary: $105K per annum
– Potential Millionaire Salary: $200K per annum
His job is to analyze data on wages and salaries to derive a cost-efficient model.
They help to reduce the company’s total cost which helps them to get a higher average salary compared to other jobs.
Public Relations and Fundraising Manager
– Average Salary: $80K per annum
– Potential Millionaire Salary: $100K per annum
While the salary packages of PR managers are high in foreign countries compared to India. But their increasing demand and value addition to the goodwill of the company justify their salaries.
PR manager is one of the emerging jobs in the era of social media which can pay up to ₹20 Lakhs per annum in near future.
Generally, companies prefer to hire young people for their PR teams.
Human Resources Manager
– Average Salary: $80K per annum
– Potential Millionaire Salary: $100K per annum
HRMs are responsible for handling human resources and getting the work done efficiently and effectively.
The primary functions of an HRM include job designing, job analysis, hiring, selecting, training, and developing employees.
Natural Sciences Manager
– Average Salary: $80K per annum
– Potential Millionaire Salary: $120K per annum
The Natural Science manager is responsible to hire people to work in laboratories, industrial work plants, and other associated places.
According to Salary Expert, the estimated salary of a Natural Science Manager will increase at the rate of 69% over the next 5 years.
IT Manager
– Average Salary: $80,000 to $120,000 per annum
– Potential millionaire salary: $200K per annum
IT managers guide the technological direction of an organization by constructing business plans and dividing the work among employees based on their educational background and interest.
Project Manager
– Average Salary: $70K per annum
– Potential millionaire salary: $120K per annum
A project manager is responsible for planning, organizing, and completing a project he got assigned.
Sales Manager
– Average Salary: $70K per annum
– Potential millionaire salary: $100K per annum
Sales managers analyze the sales of a company and find key areas where improvement is required to increase the sales of the company like the quality of a good is not up to the level of market standards.
Engineering
Flight Engineers
– Average Salary: $70K per annum
– Potential Millionaire Salary: $90K per annum
Flight Engineers assist the pilot by monitoring the aircraft’s instrument. You will be required to do a basic inspection of the flight and perform Maintenance during the flight.
Petroleum Engineer
– Average Salary: $125K per annum
– Potential millionaire salary: $200K per annum
As indicated by the name, Petroleum Engineers design and develop different ways to extract oil from below the surface of the earth.
Airline Pilot
– Average Salary: $60K per annum
– Potential millionaire salary: $100K per annum
Airline pilots have the responsibility of safely transporting passengers and cargo. They are typically responsible for all aspects of their flight, including loading, unloading, and operating the aircraft.
However, there are height requirements that should range from 5 feet 4 inches to 6 feet 5 inches.
Creative Jobs
Author
– Average Salary: $55K per annum
– Potential millionaire salary: $100K per annum
If you love to write books, poems and other things becoming an Author might be the best option for you.
While it is difficult to measure the maximum money you can make from writing which is directly proportional to how much your work is loved by readers.
Musician
– Average Salary: $49K per annum
– Potential millionaire salary: $85K per annum
Most often musicians do not work 9 to 5 for six days a week. They generally work for 48 hours per week, which can be even more with higher salaries.
Chef
– Average Salary: $46K per annum
– Potential millionaire salary: $80K per annum
Chefs are a key part of any restaurant. They are the ones that make the food and they also serve it to customers.
Chefs can make a lot of money and they can also be very creative with their dishes.
Other Jobs
Lawyer
– Average Salary: $50K per annum for entry-level; lawyers who are successful and have been practicing law for a while can earn $125K.
– Potential millionaire salary: $300K
Lawyers are specialized in various fields. You can look to become a corporate lawyer for a higher income.
Data Scientist
– Average Salary: $80K to $120K per annum
– Potential millionaire salary: $200K per annum
With the emerging importance of data in the forecasting of the future and formation of new policies. If you like to play with data it will be the go-to option for you.
The requirement of analysis of data is in every field for better allotment of funds to the resources required to the organization.
Conclusion
Here are the top 25 jobs that can make you a millionaire. At the end of the day, it will depend on how much your excel in your given job and how you grow yourself in that.
If you think I missed something on the list? Reach out to me in the comment section.
Note – We have taken data related to the average salaries of different sites including Glassdoor, PayScale, and Salary Expert.