5 Most Lucrative Careers for Entrepreneurship Majors
- Internal Auditing
- Venture Capital
- Real Estate
- Business Information System Specialists
Since the number of careers in entrepreneurship is quite high, narrowing the options down can be somewhat tedious. Fortunately, there is no shortage of market resources that can educate people on some of the most lucrative alternatives.
1. Internal Auditing
Internal auditors are required to obtain either a bachelor or master degree in accounting before entering the industry. Whilst they operate outside of the public sector, which is where most other accountants go to, their salaries are still very competitive. According to the Bureau of Labor Statistics, the annual average for the entire United States market in this area is a little under $78,000. When compared to the median earnings for the nation, internal auditors can expect to make about $15,000 more. Not to mention that they will avoid the extremely long hours are often associated with public sectors.
Although personal investing is much riskier than internal auditing, those who do it successfully will make the auditors’ salaries look laughable. The reason why is the fact that lucrative investors who leverage their passive income correctly will be on a quick route to becoming millionaires. The only downside, however, is the long learning curve that accompanies this career choice. After all, if anyone could simply choose to invest and become rich, everyone would probably do so. In order to reach such outcomes, people first need to spend a fair amount of time learning about the market and analyzing the trends.
3. Venture Capital
Venture capital is a sub-area of investing where entrepreneurs purchase actual ownership in companies. They do not use securities such as stocks, bonds, options, or anything similar to diversify their portfolio. Instead, all of their holdings rest with new start-ups that seem promising. By purchasing ownership, they become entitled to future earnings as well as liquidation proceedings when they sell their portions of the business. As with the previous option, going into venture capital is quite risky because it requires an outstanding familiarity with various business models and market needs.
4. Real Estate
Real estate has slowly become one of the most popular careers in entrepreneurship over the past years. It first came to spotlight under unfortunate circumstances when the housing market collapsed and caused a recession in 2008. Since then, however, the interest rates that have been slowly decreasing and countless spikes in the economy allowed millions of real-estate-based entrepreneurs to become rich. Jobs within this area include everything from buying and renting properties for long-term gains to rapidly flipping them for short-term income. One can even look into the realtor route that comes with hefty pay for agents who can facilitate pricey purchases that carry substantial commissions.
5. Business Information System Specialists
In the end, lists related to top-paying careers in practically any field should include information systems. The same applies to entrepreneurship where technology developments over the past years have been unprecedented. Nearly every major company has slowly integrated things like Big Data, automation, and even artificial intelligence. Well, becoming one of the few students who hold a business degree with a focus in information technology (IT) will open countless doors to high-paying positions. Not to mention the outstanding upward mobility proven by constant promotions.
Related Resource: 50 Most Entrepreneurial Schools in America
People who may want to combine some of the aforementioned choices can certainly do so. For instance, it is not uncommon that real estate investors also have stock and venture capital portfolios. That way, they are diversifying and reducing risk by entering into multiple careers in entrepreneurship simultaneously.