Every industry and market has its own trends. Just like fashion and technology from the past decade are now outdated, jobs too have their own trends. We are living in a time of flux with a lot of jobs lost to automation while others require specific skills and qualifications.
If you are a working professional then you must know how competitive today’s job market is. Future-proofing is something that you must consider because the world is changing so rapidly that whatever you start with you can not necessarily finish on that as well.
In whatever profession you are, it is bound to change in the next 5-10 years. If you need to secure your career from all sorts of odds then you need to be a lifelong learner. You need constant upskilling. In today’s world, to get a job, amongst other things, you definitely need two things- certifications and specialisations.
That’s why students these days are bent on lengthening their CVs. With 2022 rolling in, if you are giving your career some consideration to make sure you’re futureproofing your skillset or perhaps moving into a new field altogether. Here is everything you need to know about the top 7 highest paying jobs in the world.
#1 Data Scientist
With automation picking up pace, Artificial Intelligence (AI) and Machine Learning (ML) is the future! In such a future, it is numbers, or specifically data that is going to rule the world of technology. There has been a 29% increase in the demand for Data Scientists year over year and a tremendous upswing of 344% since 2013.
A Data Scientist is someone who has the ability to navigate through data and who can understand the pattern and concepts of data, and applying that data to form decisions, to form a judgement, is absolutely critical. You teach the machine not through your own capability but through the machine’s capability which is incredibly scalable.
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The salary of a Data Scientist varies depending upon the level of experience and the finesse in relevant skills.
Basic Salary– ₹4-12 Lakh Per Annum
Salary after higher experience– ₹60-70 Lakh Per Annum
To be a Data Scientist, you might consider mastering the following skills.
- Understanding Machine Learning algorithms
- Create data models
- Code in languages like Python, R, SAS, and other analytical tools
- Excellent communication
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Data Science is something that you might not be able to master solely with your skills. Relevant studies are prerequisites to being a great Data Scientist.
To be eligible to be a Data Scientist you must have any one of the following:-
- Bachelor of Engineering (BE) degree
- Bachelor of Technology (B.Tech) degree
- A recognised course on Data Science.
As a Data Scientist, there are multiple roles and responsibilities that you might have to take on depending upon your niche. However, the one thing that is common to all these is, to analyse raw data of a business using technology to identify business issues and provide appropriate solutions to various problems.
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Since it is one of the most in-demand jobs in the world currently, there are some big names that recruit Data Scientists on a large scale. Following are a few of these big recruiters around the world:
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#2 Chartered Accountant (CA)
A profession that is going to be in demand as long as there is taxation and auditing in the world is Chartered Accountancy. It’s like an evergreen profession. The selection exam for CA is considered as one of the toughest exams in India. To be a CA, you need to clear 3 exam levels- foundation, intermediate, and final. Just clearing the exam is not enough though. Industrial training from a decent company is a great way to upskill. Good articles after the intermediate level is also something to look for if you are considering becoming a Chartered Accountant at a large firm.
The salary of a Chartered Accountant varies greatly. It accelerates with experience in the industry.
Basic Salary– ₹7-18 Lakh Per Annum
Salary after higher experience– ₹70-75 Lakh Per Annum
Since it is one of the most sought after jobs, a CA must possess a myriad of skills.
- Good Analytical skills
- Financial Accounting
- Investments for Businesses
- Strong Communication
- Commercial Awareness
- Excellent command over Excel
To be a Chartered Accountant in India, you will have to clear the entrance exam which is conducted in three parts- foundation, intermediate, and final. You can directly skip to the intermediate level exam if you possess a graduation or post-graduation degree in Commerce. Only candidates who pass the final level exam are eligible to become Chartered Accountants.
As a Chartered Accountant, you will have to plan taxes, audit accounts, identify and recommend solutions to accounting problems. A CA is expected to guide their clients with their finances and also ensure that all tax related activities in the company are compliant with the federal and provincial regulations.
Some of the giants in the industry who recruit Chartered Accountants in India are:
- Aditya Birla Group
#3 Digital Marketing
Digital Marketing is something that has made a drastic growth in recent years due to the upsurge in the usage of social media among users of all sorts. Due to this sudden upsurge, the industry is short on skilled professionals and hence Digital Marketing has become one of the highest paying jobs today worldwide. The world is becoming digital day by day because of which new forms of marketing and advertising are coming forth. It is indeed a demanding job in the present as well as in the near future.
As a Digital Marketer, you are not just restricted to jobs at some other firms, you can have your own digital marketing agency. Social Media Marketing business is also constantly and rapidly growing and hence brings immense opportunities.
There are various roles that come under the umbrella of Digital Marketing. Therefore, the salary differs based on the role as a digital marketer.
Basic Salary– ₹3-6 Lakh Per Annum
Salary after higher experience– ₹10-12 Lakh Per Annum or even more
It is a myth that digital marketing is all about copy writing. Knowledge of AdSense and the Ad network of Facebook, Youtube, and Google is not enough. Copywriting is just a small but very important part of Digital Marketing. There is a vast skill set defined for Digital Marketing which is complementary to the particular role you pursue. However, there are some skills that are relevant to all the roles of a digital marketer. These are:
- Data Analytics
- Search Engine Optimisation (SEO)
- Search Engine Marketing (SEM)
- Content Marketing
- Understanding design thinking and planning
- Innovative and creative approach towards tasks
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There is no defined eligibility for digital marketing. If you are talented and have what it takes, then you can be a Digital Marketer even after High School. However, prior knowledge of the technicalities involved in Digital Marketing is a plus point. To gain or to enhance this knowledge you can pursue Certificate or Diploma courses specifically designed for Digital Marketing. Various institutes and universities around the world provide these courses even in the online mode so that you can maintain your work-life balance while gaining extra knowledge.
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As a Digital Marketer your work will depend on your designation. You can be a content writer, content strategist/creator, a copywriter, SEO or SEM expert, a data analyst, etc. The responsibilities common to all the roles is to understand and analyse market trends and then strategize marketing accordingly. The other responsibilities are specific to the particular role you pursue.
Some of the giants in the industry who recruit Digital Marketing experts are:
- Tata Consultancy Services (TCS)
#4 Software Architect
A B.Tech in not just India but around the world is one of the most pursued courses. Software Engineering has always been considered one of the best paying jobs around the world and for all the right reasons. With everything going online as a result of the Covid-19 Pandemic, Software Architecture has gained tremendous pace in the tech world.
As work from home became the new normal, software engineers enjoyed a great deal. It became one of the most flexible and feasible highest paying jobs around the globe. Software Architects are currently high in demand and this demand is expected to grow further in the days to come.
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Depending upon the level of designation and experience the salary of a Software Architect alters.
Basic Salary– ₹5-12 Lakh Per Annum
Salary after higher experience– ₹35-45 Lakh Per Annum
- data modelling
- understanding of software architecture
- good programming skills
- strong analytical skills
A software architect optimises the development process in an organisation by making design choices and dictating technical standards such as coding, tools, and platforms. Other job responsibilities that fall under the role of a software architect are designing, developing, and implementing software solutions to address complex business issues and providing technical leadership within the IT department of the organisation.
You can find an endless list of recruiters looking for experienced software architects around the globe. Such is the demand of a software architect in the current era. Following are only a few of those giants who are always actively looking for these tech experts:
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#5 Product Manager
Product Management is a fascinating role and career option, especially if you are looking at the next 10 years. People think of project management as a tech role, which is not actually the case. You are the manager of a technical product. Product management is not completely a technical field but a very metric-driven field. It’s not necessary for you to code or has the knowledge of software engineering but you surely need the ability to look at data and to make sense of what’s working and what’s not and then give that feedback to the engineering team so that they can work on it and fix it up. Vision, strategy, and metrics are some of the fundamentals of a Product Manager.
As a Product Manager at a firm, you will be expected to identify and understand the customer as well as the market needs. You should also be skilled in negotiation tactics and collaborative work. You will help the team determine parameters around the product and then the engineering team will lead the development of that product from conception to launch.
Product Managers generally enjoy a lucrative salary package. And again this package completely depends upon the knowledge, skills, and most importantly the experience of the Product Manager.
Basic Salary– ₹7-8 Lakh Per Annum
Salary after higher experience– ₹17-26 Lakh Per Annum
A Product Manager is usually a person with expertise in a multitude of niches. There are tons of skills that a Product Manager needs to master to enjoy better job opportunities. Experience in the field of Product Management is also considered a skill. There is immense value of experience in Product Management be it sales, brand management, marketing, or advertising. Some of the other skills required are:
- strong understanding of Product Lifecycle Management (PLM)
- knowledge of product management tools like Pivotal Tracker, JIRA, Asana
- strong analytical and time management skills
People with under graduation in Marketing in Business Administration are considered eligible for the post of a Product Manager. However, most recruiters and employers prefer candidates with a master’s degree in Management. Product Management is a versatile job that requires the person to be dynamic in all its aspects.
Hence, candidates with certifications, training, and experience along with the degree of course are considered the most eligible for the post. Therefore, to be able to land a job with big name firms, you must not just follow the traditional path of education, but must go out of the way to gain expertise and experience in the field.
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A Product Manager is responsible for delivering an operating plan that can help the organisation achieve strategic and tactical goals and objectives. Building a product portfolio, managing and implementing marketing activities, and contributing to the product strategy and its vision are some other responsibilities that are a part of the work delivered by a Product Manager.
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Product Managers are steadily and subtly gaining pace in the tech world. Big tech firms have been constantly hiring product managers for better management and marketing of their products which was earlier taken care of by the engineers. Following are only a few of the big recruiters actively seeking Product Managers:
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#6 Crypto Or Blockchain Developer
If you are tech-savvy or are generally into Bitcoin or Cryptocurrencies, you must be aware of how big of an impact Crypto has made globally in the past decade. Just like Web2 is the hub of tech giants like Google, Facebook, Microsoft and alike, Web3 is rapidly growing as well and seems to be the tech of the future. Web3 is building a decentralised world that is built on the blockchain.
However, you must not confuse Crypto Development with Crypto Trading. They are two completely different concepts. Crypto Development is about technological development in the crypto world. It is about creating apps, services, and protocols. The world spending on blockchain solutions is expected to reach 15.9 billion US dollars by 2023 which means there will be plenty of demand for crypto and blockchain experts across industries and geographies. Given the fact that cryptocurrencies are surging, blockchain technology has a long way to go.
The niche of Crypto development is a young entry into the vast already established tech world. The salaries offered currently might hike miraculously depending upon the surge and usage of Crypto currencies and blockchain in the near future.
Basic Salary– ₹6-8 Lakh Per Annum
Salary after higher experience– ₹10-15 Lakh Per Annum or even more
Blockchain development is a completely skill-based job. There are certain skills that a crypto developer or a blockchain developer must necessarily master to flourish. Also, mere knowledge of the subject is not enough. The experience in the subject is also extremely evident. Some of the important skills are:
- Solid programming skills
- thorough understanding of the technologies behind Ripple
- Bitcoin as well as consensus methodologies and
- security protocol stacks
- crypto libraries and functions
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Blockchain engineer specialises in developing and implementing architecture and solutions using blockchain technology. The job responsibilities might differ depending on the company provisions, rules, and regulations. A crypto or blockchain developer might work in both backend or full-stack posts based on the type of work offered by the organisation.
Some of the giants in the industry who recruit Blockchain Developers are:
- Tech Mahindra
#7 UX/UI Design
UX stands for User Experience, while UI stands for User Interface. Since the market and its products are mostly about the user, many companies are trying to enhance their user experience to retain customers. A UX/UI Designer sees to it that the product is equitable, accessible as well as profitable for the user as well as the stakeholders.
The demand for UX Designers has seen a sudden growth in the past few years. There is immense scope in UX/UI Design because of the growing awareness of the marginal user base. User experience is the core value behind UX/UI Design. The entire concept is user-centric and aims at inclusivity of those users which are otherwise left estranged.
The tremendous growth in the need of UX/UI Designers is bound to increase their value in the market. There might be a decent hike in the salaries of UXers in the next 4-5 years.
Basic Salary– ₹5-7 Lakh Per Annum
Salary after higher experience– ₹10-13 Lakh Per Annum
The most important skill of a UX/UI designer is to know how to empathise with the user and have an innovative and creative bent of mind. However, the user is not the only aspect to consider, the designer should be skilled enough to design a profitable product from the stakeholder’s point of view as well, while of course keeping the user needs in mind. The designer must have knowledge of the following design tools to be able to design:
There are no specific qualifications or minimum eligibility requirements for a career in UX/UI Design. However, a person from a design background (eg- graphic design, animation, etc) is preferred for the job. Students who are not from a designing background can learn the designing tools like Figma and AdobeXD and build their own portfolio to get a job.
UX/UI Designers usually work on web development and what a website or an app looks like. It is not just how it looks, but the designer has to make sure that it is easy to understand and use for the users. You might work in a specific role under a UX Designer as well. For example, you can be a UX Researcher or a UX Writer as well.
Some of the big recruiters of UX/UI Designers are:
- Tech Mahindra
This is all about the top highest paying jobs in the world, now it is your turn to build a career in one of them. Hope you were able to get a decent understanding of the jobs and the specifics and characteristics related to those jobs. It is a myth that only CEOs, Actors, and Directors of big firms and companies are the ones having the highest paying jobs. With a bit of research and hard work, you too can land one of these highest-paying jobs. So do not just work hard but work smart as well and escalate your career to greater heights!
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⭐Which is the highest paying job in the world?
There are a few jobs that are the highest paying in their specific industries. The pay however also heavily depends on the experience. Keeping these in mind, Chartered Accountants, Data Scientists, CEOs of MNCs, and Surgeons earn the highest salary.
⭐What is the salary of a data scientist?
The average base salary of a data scientist is around INR 8 lac per annum. However, with a higher experience, they can earn up to ₹60-70 Lakh Per Annum.
⭐Is digital marketing a well-paying job?
Depending upon your experience and the organization you work for, a digital marketing job can be one of the highest-paying jobs in the world.
⭐What is the scope of blockchain development?
The world spending on blockchain solutions is expected to reach 15.9 billion US dollars by 2023 which means there will be plenty of demand for crypto and blockchain experts across industries and geographies.
⭐What is the eligibility to become a data scientist?
To be eligible to be a Data Scientist you must have any one of the following:-
- Bachelor of Engineering (BE) degree
- Bachelor of Technology (B.Tech) degree
- A recognised course in Data Science.