Getting into the right career path is one of the most daunting tasks for any aspirant. The superabundance of career choices, high salaries, and rapidly skyrocketing growth trajectories make the decision further challenging for both students and professionals.
Learners have now understood that their education level can significantly impact their career options and earning potential in the future. Comprehending that successful careers and highest paying jobs require advanced learning and a master’s degree can help you to get some high-paying positions in a specialized field. There are already many reports and data sources that give us relevant insights into the highest-paying jobs across the globe and it is still only early 2024.
Top 10 Highest Paying Jobs in The World
Investment Banker
Investment Bankers issue debt and sell equity to raise capital for clients, conduct research on investment opportunities, assess valuations for clients and upper management, provide expertise to help broker mergers and acquisitions, recruit investors for client IPOs, assemble financial models to value debt and equity, and assist in investment and financial planning decisions.
Salary - up to ₹25 Lakhs per annum
Job Roles - Investment bankers must possess excellent number-crunching abilities, strong verbal and written communication skills, and the capacity to work long and grueling hours.
Eligibility - MBA in Finance
Mathematician
If you have a keen interest in fields such as engineering, management, and science that use the advanced function of mathematics, this degree may help with your career. Students who are going to pursue this career path can easily specialize in focus areas such as Numerical Analysis, Scientific Computing, and Mathematical Biology.
Salary - ₹9,72,106 per annum
Job Roles - Deep research and apply complex math concepts to business, economics, engineering, computing, or other industries.
Eligibility - M.Sc in Applied Mathematics
Economist
An economist should have a deep understanding of economic theories such as micro- and macroeconomics, econometrics, economic forecasting, and growth, and applied financial and computational economics. You can also become an economist after an MBA program if you want to study industry, marketing, trade, and investments on a local or global scale.
Salary - ₹9,50,000 per annum
Job Roles - Financial Economist, Micro- or Macroeconomist, or Industrial Economist who specialize in labor or urban economics and economic analysis.
Eligibility - M.A in Economics
Senior Manager
An MBA in any specialization can help you to become a manager in your respective field. MBA in marketing can help you to learn consumer behaviors, brand position, product development, media platforms, and promotional strategies so you can lead a team in creating marketing campaigns and relationships with customers. Whereas, an MBA in Finance can help you to learn corporate finance, investment management, risk analysis, international finance, and corporate financial policy.
Salary - ₹21,00,000 per annum
Job Roles - Project manager, HR Manager, Product Manager, Operations Manager, IT Business Analyst
Eligibility - MBA in any specialization
Information Technology Director
Information Technology Director is a senior position. You can easily become an information technology director after having a good understanding of software development, business information systems, security, telecommunications, programming, networking, and e-commerce.
Salary - ₹50,00,000 per annum
Job Roles - You can become an information technology director after having relevant experience as an Information Researcher, Software Developer, Computer Systems Analyst, Computer Network Architect or other related field.
Eligibility - Master of Science in information technology
CEO and CFO
If you desire to be a business leader, such as a chief executive officer (CEO) or a Chief Financial Officer (CFO) in any industry, you must have a strong background in management, leadership, communication skills, teamwork, and quantitative analysis.
Salary - ₹30,00,000 to ₹30 Cr
Job Roles - You can become a CEO or CFO after having relevant experience as financial manager or officer, controller, financial planner, investment banker, money manager, or risk manager.
Eligibility - MBA in Finance or Master of Commerce
Data Scientist
Data Scientists are in-demand data experts who find employment prospects in many industries such as retail, healthcare, media & entertainment, transportation, education, etc. You can become a Data Scientist after doing any course but should have a deep understanding of statistical methods, data structures, algorithms, and collecting, processing, analyzing, and interpreting data.
Salary - ₹13,00,000 to ₹25,00,000
Job Roles - Making meaningful insights using programming languages like Python, R, or SQL for data manipulation, cleaning, and analysis
Eligibility - Any course but MBA in IT and Systems or Data Science will help a lot.
Healthcare Administrator
Healthcare Administrators— who are also referred to as health and medical services managers—are critical to the smooth operation of healthcare facilities and are involved in overseeing staffing needs and budgets to ensure legal compliance and general managerial duties. Healthcare Administrators get hired by pharmaceutical companies and hospital chains for various administrative and management roles.
Salary - ₹4,79,323 per annum
Job Roles - healthcare management and executive positions like Consultant, Healthcare Associate, Health Informatics Manager, Hospital Administrator, Health Insurance Executive, HR Executive, Pharmaceutical Product Manager, Product Manager and Hospital Operations Executive.
Eligibility - MBA in Hospital Management
IT Manager
IT Managers perform and manage programming languages, artificial intelligence, and software engineering.They use advanced computer language and algorithms to design and manage software, networks, security, and databases.
Salary - ₹25,00,000 per annum
Job Roles - Few of the jobs are IT Management Consultant, Business Analyst, Data Processing Manager, IT Architect, Systems Software Manager, Product Manager, and Chief Technology Officer.
Eligibility - MBA in IT and Systems
Logistics Manager
A logistics manager corresponds to and analyzes the supply chain of an organization. They are involved in the entire life order cycle so as to enhance business development. A Logistics Manager is generally concerned with the storage and movement of goods, managing inventory, optimizing operational processes, and other related processes.
Salary - ₹10,00,000 per annum
Job Roles - Job in this domain requires relevant skills to improve supply chain processes. Few similar jobs are Logistics Manager, Business Development Manager, Sales Officer, Head of Supply, Research Officer, Materials Manager, Operations Manager, Shipments Manager.
Eligibility - MBA in Logistics and Supply Chain Management
Top Specializations in India Currently
Apart from those highest paying jobs in the world, here is the list of most popular specializations that students are currently choosing.
MBA in banking and finance
MBA in banking and finance is generally an advanced-level course that provides extensive knowledge of the banking and financial sector. Students in India who will opt for this course will get a deeper knowledge of the industry. Masters in banking in finance will give knowledge about current and past market statistics on both macro and micro level to the students.
What will students learn:
- Wealth management
- Global banking sector
- Economic working of banks
- Risk management
- Financial analysis
- Banking law, rules, and regulations
- Financial trends
- Mergers and acquisitions etc.
Scope of employment:
- Marketing analyst
- Investment banker
- Finance manager
- Equity manager
- Accounts Executive/ Manager
- Asset manager
- Corporate analyst
Digital Marketing
Digital marketing is one of the most popular courses in the world today. The current influence of advertising through digital media has never been more important, especially during this pandemic time. Companies in India are also considering digital marketing channels and tools to reach the maximum number of customers, especially the young audience.
What will students learn:
- Online Marketing
- Digital marketing tools
- Email Marketing
- Search engine Optimization
- Running Online campaigns
- Affiliate and performance marketing
- Social media marketing
- Content marketing
- Website Designing
- Marketing analysis
- Mobile Marketing
Scope of employment:
- Digital marketing manager
- SEO analyst
- Content marketing manager
- Website Designer
- Social media expert
- Web Analytics Analyst, etc
Machine learning and Artificial intelligence
It is one of the fastest-growing fields in the corporate world right now. There are many companies in India only who are looking to integrate AI-based models to streamline their processes. Masters in Machine learning and Artificial intelligence will prepare the students in several machine learning roles and advance data science which is relevant in today's job market, etc.
What will students learn:
- Data Mining
- Advance Excel
- Text Mining
- Neural networks
- Natural language processing
- Python or other programing language
- Regression
- Feature Engineering
- Statistics and exploratory analytics data
- Deep Learning ANN
- Capstone and more
Scope of employment:
- Machine learning Engineer
- Associate deep learning engineer
- Data science software engineer
- Data scientist
- Research Scientist and many more
Job Statistics in the USA
- According to recent reports, Computer and information science in the USA was the highest-paying master's degree discipline in 2022 with a median starting salary of over $105,890.
- One of the highest-paid specialties for master's graduates includes electromechanical engineering, computer engineering, computer science, data science, physics, law, and allied health with an average starting salary of $77,590 in the USA.
- Nursing and computer science jobs in the USA will have the highest projected employment growth rate from 2022-2032.
- The average starting salary of masters graduates in 2022 was $77,590 in the USA.
- The average starting salary of bachelor degree graduates was $61,870 and doctoral degree graduates were $101,740 in the USA.
Frequently Asked Questions (FAQs)
Surgeons, who typically require an advanced medical degree, can earn a substantial salary, with the exact amount varying based on factors like experience, specialization, and location. On average, it is among the highest-paying professions.
Salaries can vary widely, but they are generally among the highest in the job market.
Engineering roles like Petroleum Engineer, Aerospace Engineer, and Engineering Manager can offer high salaries for master's degree holders.
Yes, certain government roles, such as Senior Civil Servant, Diplomat, or Policy Analyst, can offer competitive salaries for individuals with advanced degrees.
Careers in Environmental Management, Sustainability Consulting, or Renewable Energy Management can be pursued, with salaries varying based on the specific role and industry.
