Growing up, my mom encouraged me to get a job as a lawyer or doctor as soon as I reached my teenage years. Can you relate? I think a lot of us can relate to their parents wanting them to get a traditional job. A good career path, with promotional opportunity, pension and high earning potential seemed to be the main focus for my parents and as I got older, I started to understand why. They just wanted me and my sister to be safe and have enough to make ends meet. One thing I realised as I got older, however, was that there were other career paths which were just as prestigious as the traditional, well trodden career paths we all know. In addition to niche jobs that provided scope for flexible working to work well with other commitments such as family and still provided the safety net of a good wage.
In this blog, we list the top 5 best paying jobs in a few niche industries and consider is real estate investment trusts a good career path, is consumer services a good career path and is basic industries a good career path? Let’s start with real estate investment trust (REIT) jobs.
Real Estate Investment Trust Jobs
Real Estate Investment Trusts (REITs) can offer a range of job opportunities with varying compensation levels. Here are some of the best paying jobs in REITs:
Chief Investment Officer (CIO)
The CIO is responsible for overseeing the REIT’s investment strategy and ensuring that it aligns with the company’s goals. CIOs are typically highly experienced professionals with a deep understanding of real estate investment and financial markets. The average annual salary for a CIO in a REIT is around $250,000. You can typically expect to reach the position of CIO after 7-10 years experience working for a REIT and working on different types of projects to gain the commercial knowledge necessary to manage typical CIO responsibilities.
Chief Financial Officer (CFO)
The CFO is responsible for managing the REIT’s financial operations, including budgeting, forecasting, and financial reporting. CFOs in REITs can earn an average annual salary of around $200,000. Similar to that of the CIO, the CFO position will require you to ascertain around 7-10 years experience. Most CFOs have an accounting or finance background also, so if this is a career path you want to explore, it is worth doing your research on qualifications necessary to become a CFO in the future.
Senior Asset Manager
A Senior Asset Manager is responsible for managing the REIT’s real estate assets, including analyzing market trends and negotiating lease agreements. Senior Asset Managers in REITs can earn an average annual salary of around $150,000.
Director of Acquisitions
The Director of Acquisitions is responsible for identifying and evaluating potential real estate investment opportunities for the REIT. They work closely with other members of the investment team to ensure that the REIT’s investment strategy is aligned with its overall goals. The average annual salary for a Director of Acquisitions in a REIT is around $150,000.
Vice President of Development
The Vice President of Development oversees the REIT’s development projects, including site selection, design, and construction. They work closely with other members of the management team to ensure that development projects are completed on time and within budget. The average annual salary for a Vice President of Development in a REIT is around $150,000.
It’s worth noting that salaries can vary depending on factors such as the size of the REIT, the location of the job, and the candidate’s experience and qualifications.
Is Real Estate Investment Trusts a Good Career Path?
Our verdict, yes. With earning potential well into the six figure salary band, a niche job and career in REIT can be an excellent decision for someone who has an interest in real estate.
Best Paying Jobs in Life Insurance
Life insurance is a product everyone needs and because of this, is a growing industry, and there are many jobs within this field that offer competitive salaries. Some of the best-paying jobs in life insurance include:
Actuaries are responsible for assessing and managing financial risks, including those associated with life insurance. They use mathematical models and statistical analysis to determine the likelihood of events such as death, disability, or illness, and calculate the premiums that insurers should charge to cover these risks. According to the U.S. Bureau of Labor Statistics (BLS), the median annual salary for actuaries was $111,030 as of May 2020.
Underwriters evaluate insurance applications and determine whether to accept or reject them, and at what premium level. They analyze factors such as an applicant’s health, age, and lifestyle, as well as the risk level of the insured individual or group. The BLS reports that the median annual salary for underwriters was $73,240 as of May 2020.
Insurance Sales Agent
Life insurance sales agents work with clients to sell them life insurance policies that meet their needs. They may work for insurance companies or operate as independent agents. The BLS reports that the median annual salary for insurance sales agents was $52,180 as of May 2020.
Claims adjusters evaluate insurance claims and determine the amount of compensation that policyholders are entitled to receive. They investigate the cause of the claim, gather information and documentation, and negotiate settlements. The BLS reports that the median annual salary for claims adjusters was $68,790 as of May 2020.
Customer Service Representative
Customer service representatives handle inquiries and concerns from policyholders and potential customers. They may also process policy applications, update account information, and handle billing and payment issues. The BLS reports that the median annual salary for customer service representatives was $35,960 as of May 2020.
Keep in mind that salaries in other sectors can vary depending on factors such as experience, location, and education level. However, these are some of the top-paying jobs in the life insurance industry.
Best Paying Jobs in Consumer Services
Consumer services encompass a wide range of industries, including retail, hospitality, finance, and transportation, among others. Some of the best-paying jobs in consumer services include:
Chief Experience Officer (CXO)
CXOs are responsible for overseeing the end-to-end customer experience across all touchpoints of a business. They ensure that a company’s products and services meet customer needs and expectations, and develop strategies to improve customer satisfaction and loyalty. According to Salary.com, the average annual salary for a CXO is around $274,000.
Vice President of Customer Service
Vice presidents of customer service manage and lead the customer service teams within an organization. They develop and implement policies and procedures to improve customer satisfaction, and oversee the training and development of customer service staff. According to Salary.com, the average annual salary for a Vice President of Customer Service is around $218,000.
Customer Success Director
Customer success directors focus on ensuring that customers achieve their desired outcomes with a company’s products or services. They work closely with customers to understand their needs and goals, and develop and implement strategies to drive customer success. According to Glassdoor, the average annual salary for a customer success director is around $162,000.
Director of Retail Operations
Directors of retail operations are responsible for overseeing the day-to-day operations of a retail business. They ensure that stores are staffed and managed effectively, inventory levels are appropriate, and sales goals are met. According to Indeed, the average annual salary for a director of retail operations is around $120,000.
Financial advisors provide advice and guidance to clients on a range of financial matters, such as investments, retirement planning, and insurance. They work with clients to develop personalized financial plans and strategies to achieve their financial goals. According to the U.S. Bureau of Labor Statistics (BLS), the median annual salary for personal financial advisors was $89,160 as of May 2020.
Keep in mind that salaries can vary depending on factors such as experience, location, and education level. However, these are some of the top-paying jobs in consumer services.
Is Consumer Services a good career path?
Our verdict, yes. There are plenty opportunities in this field and some of the niche jobs do not require university and college education. Once you get a role in this field, get experience you can eventually apply for a position and make six figures per year.
Best Paying Jobs in Artificial Intelligence
Artificial Intelligence (AI) is a rapidly growing field with many opportunities for high-paying jobs. Some of the best-paying jobs in AI include:
Machine Learning Engineer
Machine learning engineers design and implement algorithms that enable computer systems to learn and improve over time. They work with large datasets, develop models and predictive analytics, and ensure that the systems are accurate and efficient. According to Glassdoor, the average annual salary for a machine learning engineer is around $112,000.
Data scientists work with large datasets to extract insights and identify patterns using statistical analysis and machine learning techniques. They develop models and predictive analytics, and communicate their findings to stakeholders. According to the U.S. Bureau of Labor Statistics (BLS), the median annual salary for data scientists and mathematical science occupations was $96,770 as of May 2020.
AI Research Scientist
AI research scientists are responsible for developing new AI technologies and improving existing ones. They work on projects such as natural language processing, image recognition, and robotics. According to Glassdoor, the average annual salary for an AI research scientist is around $109,000.
Robotics engineers design and build robots and automated systems that can perform specific tasks. They work on projects such as manufacturing automation, autonomous vehicles, and medical robots. According to the BLS, the median annual salary for robotics engineers was $99,040 as of May 2020.
AI Product Manager
AI product managers oversee the development and implementation of AI-based products and services. They work with cross-functional teams to identify business opportunities, prioritize features and functionalities, and ensure that the products are aligned with customer needs. According to Glassdoor, the average annual salary for an AI product manager is around $118,000.
Keep in mind that salaries can vary depending on factors such as experience, location, and education level. However, these are some of the top-paying jobs in the AI industry.
Best Paying Jobs in the Metaverse
The metaverse is an emerging concept, and job opportunities within it are still evolving. However, some of the best-paying jobs in the metaverse may include:
Virtual Real Estate Developer
As the metaverse grows, there will be an increasing demand for virtual real estate developers to design and create virtual environments. Virtual real estate developers can earn significant amounts of money through the sale and leasing of virtual land and property. The salary for virtual real estate developers may vary, but according to ZipRecruiter, the average annual salary is around $95,000.
Virtual Goods Designer
Virtual goods designers create virtual objects, clothing, and accessories that can be used within the metaverse. They use design software to create 3D models of these objects and may work with other designers to create entire virtual environments. The salary for virtual goods designers may vary, but according to Glassdoor, the average annual salary is around $80,000.
Metaverse Marketing Manager
Metaverse marketing managers are responsible for promoting virtual products and services within the metaverse. They develop marketing campaigns and strategies to attract and retain users and drive sales. The salary for metaverse marketing managers may vary, but according to ZipRecruiter, the average annual salary is around $77,000.
Metaverse Platform Engineer
Metaverse platform engineers design and develop the platforms and tools that enable the creation and operation of the metaverse. They work on projects such as virtual reality, augmented reality, and blockchain technologies. The salary for metaverse platform engineers may vary, but according to Glassdoor, the average annual salary is around $107,000.
Metaverse Game Developer
Metaverse game developers design and develop games and other interactive experiences within the metaverse. They work on projects such as massively multiplayer online games and virtual reality simulations. The salary for metaverse game developers may vary, but according to ZipRecruiter, the average annual salary is around $85,000.
Keep in mind that the metaverse is still an emerging field and job opportunities may change as the industry grows and evolves. Salaries can also vary depending on factors such as experience, location, and education level.
In conclusion, these niche industries have unique characteristics that make them stand out in the business world. Consumer services play a crucial role in meeting the needs and preferences of customers, while real estate investment trusts provide an alternative investment option for those interested in the real estate market. The metaverse is an emerging technology that has the potential to revolutionize how we interact with the digital world. Lastly, life insurance is an essential aspect of financial planning and provides a safety net for individuals and families in times of uncertainty.
As these industries continue to evolve, it is important for businesses and individuals to stay informed and adapt to changing trends and technologies. Whether it’s through leveraging data to improve customer experiences in consumer services, investing in sustainable and socially responsible real estate projects, exploring the potential of the metaverse, or finding the right life insurance policy to protect one’s future, there are opportunities for growth and success in each of these niche jobs. If you are keen on landing a niche job role to save more for retirement or embark on your investment journey, definitely consider one of these options listed above.
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