Since one can remember, the United Kingdom has been a leading player on the world economic stage. With its rich history, advancements, culture and increasing diversity-the United Kingdom has not only preserved yet has strengthened its position of power over the duration of time. Today, it is considered one of the top nations to inhabit and work in.
With the average annual salary exceeding £27,000, it is no wonder that individuals aspire to become part of the work force that reside within this great land. Not only that, the National Minimum Wage has increased by four percent from £7.20 an hour to £7.50 instead.
These figures were released in May 2017 and leaves open the question, who has the most to gain? In order words, which discipline allows the widest scope for fiscal compensation?
To truly comprehend which work avenues demonstrate the most potential for financial growth, the Office of National Statistics published its Annual Survey of Hours and Earnings in 2016. The institution took on a sample size of one percent of all working professions and utilized the 2015/16 (PAYE) tax records to obtain a real, verified record size.
Time to change your field and consider being a stockbroker! In order to do that, you do not require a technical degree as training is usually provided in house. It is one of the top paid disciplines in the United Kingdom. Now, you must be wondering what does a broker do?
Well, a broker is responsible for the procurement and sales of goods and assets that are owned by his customers. These can include insurance brokers, foreign exchange dealers, stockbrokers and stock exchange traders who use the Elliott Wave Theory. Conventionally, a broker can be found at a brokerage firm. His role ranges from managing his clients’ investment assets such as securities, trading stocks and other tools that offer the most profitable return.
Insurance brokers deal in the commercial or retail field and strive to create the best possible insurance policy for their clients. The latter includes insurance for houses and pets whilst the former (commercial insurance) provides cover to industries such as oil, gas and aviation. This particular form of brokerage requires a certification from the Chartered Insurance Institute and admission is possible via an internship or an apprenticeship.
It is no surprise that medical specialists are part of the highest paid group of occupations in the United Kingdom. All those hours spent pouring over those thick medical textbooks must reap some form of reward. This vast field includes hospital administrators, consultants, nurses, doctors, anaesthetists, radiologists, surgeons and many more.
Considering that they are equipped with the knowledge and competency to save lives, it makes sense that they earn between £76,000 and £102,500 (as per 2016 data). Of course, each different medical arena comes with its own set of specific requirements and criteria that has to be fulfilled before admission is granted.
Telecommunication and IT Directors
It is no surprise that technological advancements have made our lives easier. With devices such as laptops, computers, cell phones and tablets in high use across the UK, it is no wonder that there is a plethora of information. These stormy waters have to be steered by someone who is technically savvy and has great natural instincts that he relies upon.
Telecommunication and IT directors are constantly in demand across variant industry verticals. An IT director is ultimately accountable for matching an organization’s information technology needs with the right solutions. He is responsible for the management and development of its internal and external IT systems. The IT Director designs the structural framework for all IT requirements and executes all projects as required.
The norm is to hold an accredited degree in its discipline: ranging from bachelor’s to postgraduate. A professional qualification is key to getting your foot in to the right company’s doorway and to building a strong economic future. Once adequate experience and expertise has been gained, an IT Director can go on to earn as much as £140,000 a year.
In House Legal Practitioners
Whether a corporate lawyer, in-house counsel or a legal advisor on retainer, individuals from this field have the potential to earn a decent living. It is their duty to act as a guiding beacon for clients, partners and all associated stakeholders in the world of law.
To become a lawyer, you need a degree in law or an equivalent postgraduate certification. Also, you have to undergo a training program that is spread over two years and you have to complete a legal course. Traditionally, budding lawyers undertake an apprenticeship which allows them to earn whilst learning.
Initial salaries range from £25,000-40,000 a year and go up to £100,000 once an expert in the field. It is significant to note that the United Kingdom was identified as one of the top ten nations with the greatest salaries for lawyers in the year 2016.
If you can become a master of the skies, then you will be able to earn as much as £140,000 annually. Of course, you have to jack up those flying hours to become part of this elite earning bracket.
To qualify as an airline pilot in the United Kingdom, you will have to obtain an Airline Transport Pilot’s License (ATPL), pass a background security analysis, a medical certificate and complete a course. It is a challenging and expensive opportunity as the qualification can cost between £60,000- £90,000 and take up to eighteen months.
Your journey in the skies will commence as a co-pilot with a salary scale varying from £20,000- £30,000. You will have to log in fifteen hundred hours and apply for a “full” ATPL. Once you have these number of hours on your flying record, then the sky is the limit!
Then, you will go on to maximize your earning potential to £140,000 annually. You can retain your set of skills by becoming a flight instructor or an operations manager later in your career.