This article contains information on the top 10 lucrative and marketable courses to study in a university in year 2020.
Choosing a career path can be tasking and demanding most times because the decision you take can either make you or mar you. There are thousands of degree courses out there but only a few are more profitable, marketable and lucrative. Though everybody has a choice of embarking on a particular course of study for a particular reason which can either be personal or influenced, after all, there’s this saying “one man’s food is another man’s poison”.
This article seeks to share insight on the top 10 lucrative and marketable courses to study in a university or any higher institution of learning. These courses have been chosen based on certain key factors and statistical findings. Therefore, it is paramount as a prospective student seeking admission into the higher institution of learning to be equipped with this knowledge and information in order not to regret in the long run.Before listing the courses in question, let’s take a look at the factors that determine how lucrative or marketable a course of study can be:
- A Lucrative course should be marketable: It is very essential in picking a course based on how marketable it is because, after graduation, a marketable course has a high chance of gaining employment and creating other opportunities quickly in terms of entrepreneurship.
- A lucrative course should have high employment rate: The employment factor should also be put into consideration. Though it varies from country to country but globally, according to the world employment social outlook by the International Labour Organization, “the number of people unemployed is expected to rise by 1 million per year to reach 174 million by 2020as a result of the expanding labour force”. Therefore, deducing from this estimation, it is dangerous to choose a course that has low employment rate.
- A lucrative course should be in high demand: A course is determined by how much it matches peoples need or the labour market. One of the highest demands of the labour market is skill because employers are looking for skilful professionals. According to the CNBC & the U.S Bureau of labour statistics, “the United States, for example, is currently facing one of the tightest and pronounced skills gap” and have over 7 million unfilled jobs.
- The Salary range: If not for anything, money is very important. This makes salary a very important factor in choosing a course of study that rides you on your career path. It would be a waste of time and tuition fee if after graduating from a 4 or 5-year course of study, for instance, you then realize it is a low paying profession that’s not worth it.
- The Professionalism of the course: From the practical point of view, according to the definition given by the classroom, “a professional course is a college or university-level course designed to strengthen one’s skill in areas such as team management, computer technology and health as well as safety”. Deducing from the definition, choosing a course that turns you into a real professional is what companies are looking for because it makes you marketable, employable, demandable and worth paying.
TOP 10 LIST OF LUCRATIVE AND MARKETABLE COURSE OF STUDY
Based on findings, factors and research worldwide, the following contains the top 10 list of courses in high demand:
Just like engineering, accounting is encompassing because it has so many lucrative specialization or area of study. According to Times Higher Education, accounting is in high demand because the world’s commercial activity of business depends on the expertise of an accountant who takes up the responsibility of managing and analyzing transactions as well as capital holding.
The prospect or the chance of getting a job in accounting after graduation is very high because in all parastatals of life i.e. from the government to the private institution, money and commercial activity need to be managed and this calls for the expertise of an accountant.
9. Veterinary Medicine
According to the definition given by Merriam Webster dictionary, “Veterinary medicine is the science and art that deals with the maintenance of health and the prevention, alleviation, as well as cure of disease and injury in animals and especially domestic ones.” Looking at the rising number of people that loves and have pet makes veterinary medicine a good course of study because according to statistics given by the American Pet Products Associaton (APPA), over 67% of US households, i.e 85 million families own a pet. You might be wondering the relationship a vet medicine as a course got to do with this. Definitely, there’s a relationship because, judging from the statistics, every household or farmland in custody of a pet or livestock would always want the services of a veterinarian whenever there’s an issue. Therefore, this, in turn, creates an opportunity that generates high income and makes the services of a veterinarian to be in high demand. The average salary of a veterinarian is $79,266.
Based on our factors, psychology as a degree gives room for opportunities in terms of personal growth as well as fulfilment. It creates a passage to a wide range of careers like clinical, sports, and health, industrial and forensic psychology. Having psychology as a profession makes your service needed in organizations like hospitals, schools, rehabilitation centres, sports centres and social service agencies.
Furthermore, having a degree in psychology makes it easy to fit and delve into other professions like sales, advertising, criminal justice, and human resource management. Lastly, if you are passionate about making an impact in people’s lives in terms of applying therapeutic method in counselling and helping people overcome personal issues, diversity and depression, then, this degree is just what you need. According to the World Health Organization (WHO) report of 2018 on depression, more than 264 million people suffer from depression which definitely can lead to suicide.
The Salary range of a psychologist is between $48,000 and $113,000.
7. Actuarial Science:
According to the definition given by Wikipedia, “Actuarial Science is a discipline or a course of study that uses the application of mathematical and statistical methods to assess risk in insurance, finance and other industries as well as other professions”. Deducing from this definition, actuarial science is encompassing because it is an embodiment of interrelated disciplines like finance, statistics, computer science, economics and any other thing that has to do with numbers.
The above explanation makes actuarial science a marketable course because it gives room to a host of other professions and makes a degree holder in it to be in high demand in the labor market.
Among the many benefits that is being offered by having a degree in actuarial science, the 2 most important of them all is having fast-growing career opportunities and high wages because according to the United States Bureau of Labor Statistics (BLS), “there have being an increase estimate of 22% of Actuarial Science jobs in the last decade and an average salary of $101,560 for an actuary profession”.
There is a saying that “health is wealth”. Everyone is more concern about their wellbeing in terms of maintaining their health and being disease-free but there are specialized set of individuals with the sophisticated and the right amount of trained skills to take care of us whenever we fall ill which are the nurses. With the growing population, according to the Bureau of Labour Statistics, there would be a shortage of about 800,000 nurses by 2020. This makes nursing a high on-demand course to study.
Asides the above-mentioned fact, the advantage a prospective nursing graduate seeks to gain is just so enormous. Being a nurse gives you this level of prestige of making a difference in lives. It is very difficult to see an unemployed registered nurse because of the ever-growing world population and the need to maintain a good health status. This makes nurses to work in various locations or cities and enjoy high salary benefits asides the mouthwatering bonuses. According to the BLS statistics, a registered nurse earns an average salary of $71,730 annually while Nurse Anesthetists, midwives & nurse practitioners earn an average salary of over $113,930
5. Engineering courses
Engineering is encompassing and consist of various branches. It consists of a wide variety of options ranging from the electrical, petroleum, mechanical and the aeronautical. Each of the many engineering courses is special in their own ways. Among the engineering graduates, the one with the highest-paid job are the petroleum engineers. They get a salary range of $74,240-$156,520 annually while the least engineering profession which is the stationary engineering gets an average salary of $58,070.
Asides the lucrative financial package engineering profession seeks to offer; there are other benefits of studying engineering courses which involves the prestige it brings, professional growth, being able to use the right amount of skills to solve technical problems, and the chance to be innovative in adding to the ever-growing technological world.
4. Computer Science
It is now a well-known fact that the world is a global village. According to Top Universities, “Computer Science degree involves the theoretical foundations of information & computation, taking a scientific and practical approach to computation and its applications. Computer Science is a very rewarding and marketable course because new technologies are invented daily to innovate and fix both code and gadgets. Computer scientists are always in high demand because there is always a need for technology application in every facet of life like medicine, business, and agriculture etc. According to BLS, there will be an estimated 13% growth in computer science jobs by 2026.
The average salary of a computer scientist annually is $118,380. This could be higher depending on your years of expertise in a particular computer science & I.T specialization which is another major benefit of studying to be a computer scientist.
Law is another lucrative and good course of study because it gives one the opportunity to ride on the career path of becoming a professional lawyer who gains the prestige of giving legal advises and representing individuals, businesses, and government agencies on legal issues and differences.
Though bagging a law degree doesn’t give an immediate license to success or earning a large amount of money but it gives this 99.9% level of job security, satisfaction and earning a high salary package. According to BLS, the average annual wage of a lawyer is $120,910 and employment of lawyers is estimated to increase by 6% from 2018 to 2028 which is about as fast as the average of all occupation.
Other benefits of studying a law course involves an opportunity to be exposed to gaining analytical and excellent reasoning skills, being challenged intellectually, exposed to a high number of career options and gaining respect as a law practitioner after graduation.
Phar-macy has almost the same benefits as studying to be a nurse because of its health-related features but the major differences involve its financial aspect and what it entails. Studying to be a phar-macy can be way beyond just giving drug prescription. It sometimes serve as an alternative to becoming a medical doctor because a phar-macist also have the privilege of also diagnosing, instructing and advising patients on what to do if certain side effects arise.
According to the USnews & world report, the salary range of a phar-macist is $110,310 – $142,710 annually and an average salary of $124,170. Asides this, there is job stability, mobility and flexibility as well as the opportunity to be a member of an active and strong healthcare team.
Studying phar-macy gives an opportunity to be in one of the high on demand course because there is an increase in patient services, filling prescriptions, medicines in the market and the increase in elderly population yearly.
1. Medicine & Surgery
Doctors are considered among the highest paying on-demand professionals because of their indispensable impact on saving lives. Studying medicine & surgery can by tasking and time consuming compared other courses but the end is very juicy after graduation because there’s always this saying, “it is not how far but how well”. Asides this, there are wide medical options or specialization to choose from, ranging from specialization like oncologist, neurologist, Paediatrician, gynaecologist, etc.
Doctors don’t look for a job instead job looks for them. This makes them the most wanted professionals in the world. This also makes them among the highest-paid professionals after graduation. Based on specialization, according to CNBC, the average salary of a Family and general practitioner is $208,560, Obstetricians and gynaecologist are $235,240, Oral and maxillofacial surgeon is $242,740, Surgeon is $251,890 and finally, the average salary of an Anesthesiologist is $265,990.