Doctors, lawyers, actuaries. Basically any career with license that take years to achieve. What else?
What are the careers that have high barrier of entry?
Investment banking, high finance. Usually need to go to a target school, get high GPA, have connections, interview well, good personality, and have a little luck.
Even after all that and strong job performance, you're usually booted out after 2-3 years and expected to get a top ($100,000+) MBA before they think about letting you come back.
Many people also have CFA (not easy) and of course all the FINRA licenses (easy but a PITA).
Even after all that and strong job performance, you're usually booted out after 2-3 years and expected to get a top ($100,000+) MBA before they think about letting you come back.
Many people also have CFA (not easy) and of course all the FINRA licenses (easy but a PITA).
"...it's the quiet cool...it's for someone who's been through the struggle and come out on the other side smelling like money and pussy."
"put her in the taxi, put her number in the trash can"
Quote: (06-27-2014 01:26 AM)roid Wrote:
Doctors, lawyers, actuaries. Basically any career with license that take years to achieve. What else?
Music and pretty much all of the arts.
Most of the important athletic endeavors.
If you want to make a living at it, we're talking years of practice along with learning how to build those connections that allow you to practice.
Even the chicks shitting on canvas....they had to suck a lot of dick to get those galleries to show their work.
WIA
Accounting often requires a CPA for more specialized roles.
Dentistry.
Pharmacy.
Dentistry.
Pharmacy.
Good points in these posts, but there is a secondary distinction I think is important: In some of these fields, luck and innate talent make more difference than others.
For instance, if yo want to be a professional singer, your physical appearance and your genetic hearing accuracy are important but not really adjustable.
As long as you are smart enough and not TOTALLY unbearable to deal with face to face, getting an MD is guaranteed millionaire status in the USA. It's the WORK and determination that make it. Especially if you are wiling to go to a foreign medical school if you have to.
For instance, if yo want to be a professional singer, your physical appearance and your genetic hearing accuracy are important but not really adjustable.
As long as you are smart enough and not TOTALLY unbearable to deal with face to face, getting an MD is guaranteed millionaire status in the USA. It's the WORK and determination that make it. Especially if you are wiling to go to a foreign medical school if you have to.
Being a doctor is no longer the road to riches that it used to be. As Obamacare rolls out, doctors will be forced to take substantial pay cuts and lucrative private practice will be all but eliminated.
I have many relatives who are physicians that are well into their career and live a damn good life. And sure, life as a doctor will always be stable and relatively good paying. But is it worth the 10+ years of residency, fellowship, board exams, etc. that steal crucial time away from one's 20's while one gets paid minimum wage and likely takes on debt?
Probably only worth it if someone is dead set on becoming a physician for a reason other than the money and lifestyle it affords once they jump through all the hoops. Hopefully an MD reading this can chime in.
In other news, if you're good at math, the actuarial profession is one with a high barrier of entry (namely, the ability to pass somewhat difficult math and finance tests). No grad school needed. Great job security. Chill hours.
I have many relatives who are physicians that are well into their career and live a damn good life. And sure, life as a doctor will always be stable and relatively good paying. But is it worth the 10+ years of residency, fellowship, board exams, etc. that steal crucial time away from one's 20's while one gets paid minimum wage and likely takes on debt?
Probably only worth it if someone is dead set on becoming a physician for a reason other than the money and lifestyle it affords once they jump through all the hoops. Hopefully an MD reading this can chime in.
In other news, if you're good at math, the actuarial profession is one with a high barrier of entry (namely, the ability to pass somewhat difficult math and finance tests). No grad school needed. Great job security. Chill hours.
Quote: (06-27-2014 02:38 AM)iknowexactly Wrote:
Good points in these posts, but there is a secondary distinction I think is important: In some of these fields, luck and innate talent make more difference than others.
For instance, if yo want to be a professional singer, your physical appearance and your genetic hearing accuracy are important but not really adjustable.
As long as you are smart enough and not TOTALLY unbearable to deal with face to face, getting an MD is guaranteed millionaire status in the USA. It's the WORK and determination that make it. Especially if you are wiling to go to a foreign medical school if you have to.
Doctors still make a lot of money. The question is how much the future income stream will change as reimbursement is cut and costs are brought under
control. Doctors haven't yet taken a hit to their salaries, but it could happen in the future.
Look into dentistry. All you need is a 4-year degree and then you start off with 100K. 35/hrs a week. Low risk and a tight
labor market. Dentists aren't dependent on the govt for their reimbursement.
control. Doctors haven't yet taken a hit to their salaries, but it could happen in the future.
Look into dentistry. All you need is a 4-year degree and then you start off with 100K. 35/hrs a week. Low risk and a tight
labor market. Dentists aren't dependent on the govt for their reimbursement.
Quote: (06-27-2014 05:58 PM)Fighting888 Wrote:
Doctors still make a lot of money. The question is how much the future income stream will change as reimbursement is cut and costs are brought under
control. Doctors haven't yet taken a hit to their salaries, but it could happen in the future.
Look into dentistry. All you need is a 4-year degree and then you start off with 100K. 35/hrs a week. Low risk and a tight
labor market. Dentists aren't dependent on the govt for their reimbursement.
That's not true. You need 4 years undergrad and 4 years dental school. Then of course you must pass the boards and licensure exam.
Firefighting. I had a relative get hired with a local FD. He was part of a recruit class of 24.
5000 people took the test.
5000 people took the test.
Quote: (06-27-2014 10:57 PM)objectivist tree Wrote:
Quote: (06-27-2014 05:58 PM)Fighting888 Wrote:
Doctors still make a lot of money. The question is how much the future income stream will change as reimbursement is cut and costs are brought under
control. Doctors haven't yet taken a hit to their salaries, but it could happen in the future.
Look into dentistry. All you need is a 4-year degree and then you start off with 100K. 35/hrs a week. Low risk and a tight
labor market. Dentists aren't dependent on the govt for their reimbursement.
That's not true. You need 4 years undergrad and 4 years dental school. Then of course you must pass the boards and licensure exam.
Dentists often have insane debt loads as well, both from student loans (dental school can be 2x the cost of attendance of law/med/MBA) and from financing a practice.
Quote: (06-28-2014 12:00 AM)roid Wrote:
Quote: (06-27-2014 11:52 PM)PHC19 Wrote:
Firefighting. I had a relative get hired with a local FD. He was part of a recruit class of 24.
5000 people took the test.
That's not barrier to entry. That's more like the supply of the candidates exceed the demand of job openings.
Partly true. But in a large city dept like FDNY there are plenty of barriers of entry, although not degree related. Can't really talk about Fire but can about Law Enforcement.
Gov't emergency services is probably one of the few jobs where you go though multiple barriers and can fail at any time.
a. Test( easy)
b. Competitive list number with 30 candidates min. per position.(30k took test I was hired for for 900 positions)
c. Physical assessment and medical check
d.character history evaluation
e. Psych evaluation. Both 7 hour psych test and interview with dept psychologist.
f. drug test and financial background check
g. 1 out of 3 interview
h. Academy graduation to get license as a Police officer
Failure at any step and your out. Most people fail pysch, medical, and character test.
In most other professions there really is no other barrier than going to school and studying and studying for license.
As for Doctor. It is an opportunity but only if one specializes. It seems that general practitioners aren't that rich after they pay their high cost insurance and school debt. One also has to figure in those lost earning years. More and more it seems to be all immigrants in NYC.
Dentist: one has to be a good business person and know how to scam customers like car mechanics do lol.
Problem is they have high debt and have to hustle to get clients. People tend to hate going to the dentist and most insurance plans pay very little so they have to hustle. This leads to the problem of them losing their SOULS.
I haven't met a dentist who didn't make up fake issues to get money..that shows they are desperate. We had a dentist on this forum and he knew it was true because he often heard other members that were told untrue things lol.
I would say CPA is fitting the op's wish. Accounting degrees might be a dime a dozen but I heard CPA exam is harder than the Bar exam and takes a few years of specialized experience just to be allowed to sit for it. That makes it different than other careers where just graduating and having a pulse gets you in the door since you can't buy your way in.
You wil laugh but becoming an optometrist is HARD. There are very few schools and only like 1 out of 100 get accepted.
Petroleum Engineer for a large company (Bp, Exxon, Etc)
Takes years to get the degree + you have to have a great GPA and such. High paying very comfortable job as long as oil stays high.
it's getting harder however with more kids going into it for the $
Takes years to get the degree + you have to have a great GPA and such. High paying very comfortable job as long as oil stays high.
it's getting harder however with more kids going into it for the $
Quote: (06-27-2014 10:57 PM)objectivist tree Wrote:
Quote: (06-27-2014 05:58 PM)Fighting888 Wrote:
Doctors still make a lot of money. The question is how much the future income stream will change as reimbursement is cut and costs are brought under
control. Doctors haven't yet taken a hit to their salaries, but it could happen in the future.
Look into dentistry. All you need is a 4-year degree and then you start off with 100K. 35/hrs a week. Low risk and a tight
labor market. Dentists aren't dependent on the govt for their reimbursement.
That's not true. You need 4 years undergrad and 4 years dental school. Then of course you must pass the boards and licensure exam.
Sorry, you're right.
I meant all you need is 4 years of grad school after undergrad.
Quote: (06-28-2014 09:48 AM)lurker Wrote:
Quote: (06-27-2014 10:57 PM)objectivist tree Wrote:
Quote: (06-27-2014 05:58 PM)Fighting888 Wrote:
Doctors still make a lot of money. The question is how much the future income stream will change as reimbursement is cut and costs are brought under
control. Doctors haven't yet taken a hit to their salaries, but it could happen in the future.
Look into dentistry. All you need is a 4-year degree and then you start off with 100K. 35/hrs a week. Low risk and a tight
labor market. Dentists aren't dependent on the govt for their reimbursement.
That's not true. You need 4 years undergrad and 4 years dental school. Then of course you must pass the boards and licensure exam.
Dentists often have insane debt loads as well, both from student loans (dental school can be 2x the cost of attendance of law/med/MBA) and from financing a practice.
Ok, fair point, but their median income is $145K/yr. That's amazing. Even with financing a practice and servicing debt, dentists are making a lot.
Optometry used to be cool until Lens Crafter and the other franchises took over. Still the pay is decent, if not extravagant. $90-120K/yr. Just like pharmacy.
Podiatry is a medical subspecialty that services orthopedic surgeons. Pretty good money too. Lots of schooling and residency unfortunately. If doctors
see reimbursement cuts, podiatrists will feel the hit too.
Doctors, even GPs, still have it better than you might think. Like 175K/yr is the median, but the question is how much will future reimbursement be cut?
I still see dentistry are an awesome choice, as the hours are short and the money is really good. You get to own your own practice. Be the boss.
CPA is a tough exam, so getting one will help you distinguish yourself. Starting your own business will help you further, as CPA entrepenuers can make bank.
Podiatry is a medical subspecialty that services orthopedic surgeons. Pretty good money too. Lots of schooling and residency unfortunately. If doctors
see reimbursement cuts, podiatrists will feel the hit too.
Doctors, even GPs, still have it better than you might think. Like 175K/yr is the median, but the question is how much will future reimbursement be cut?
I still see dentistry are an awesome choice, as the hours are short and the money is really good. You get to own your own practice. Be the boss.
CPA is a tough exam, so getting one will help you distinguish yourself. Starting your own business will help you further, as CPA entrepenuers can make bank.
I'm a CPA working in public accounting. Getting an accounting job is normal without a CPA designation, but getting promoted now requires you to have it.
Most industry exit opportunities will be better for you if you have your CPA as well. Still, I feel like being a CPA just allows you to be "comfortable" not "lucrative" like some of these other careers touched upon (high finance, law).
True money comes when you're a partner or have your own practice though. I seriously have no desire to do 4 years of school after undergrad. Two may be pushing it for an MBA.
Most industry exit opportunities will be better for you if you have your CPA as well. Still, I feel like being a CPA just allows you to be "comfortable" not "lucrative" like some of these other careers touched upon (high finance, law).
True money comes when you're a partner or have your own practice though. I seriously have no desire to do 4 years of school after undergrad. Two may be pushing it for an MBA.
High finance is tough to crack without any Ivy League degree.
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