The thought of becoming a billionaire is tempting for many. However, becoming a billionaire takes hard work and dedication. Only a select few people have what it takes to become a billionaire, and your career choice is the first step.
Let’s look deeper at these careers to discover how they might help you achieve a billionaire dream.
What Industries Can Make You a Billionaire?
While some people are born into wealth, most billionaires have built their fortunes through years of hard work and determination. If you’re thinking of becoming a billionaire, remember that it takes more than just money to make it to the top.
The industries that have created the most billionaires in recent years include technology, finance, retail, and fashion, among others. These professions have the most potential to make you rich.
While many careers can make you a billionaire, it’s certainly not going to come easy. However, if you have the tenacity and capability to be super wealthy, then make sure you get started and choose the right career.
Once you’ve done this, all that’s left is to work hard, be innovative, and most importantly, be consistent, as these traits will help propel you to success in any of these careers.
In the next segment, I’ll discuss in detail these career paths that lead to wealth, and plenty of it at that. Read on.
9 Jobs And Careers That Can Make You a Billionaire
Most people are attracted to the idea of being able to buy anything, go anywhere, and live however they wish. This wonderful life can only be there for you if you have the money.
Here is a list of jobs that can enable you to have that kind of lifestyle.
1. Software Engineer
- Average Salary: $120,000 a year.
- Workload: 93% of positions are full-time.
- Low Demand: 4,288 software engineering jobs are available on
Software engineers plan, make, and test computer programs and software. A software engineer's primary responsibilities include leading and taking part in programming tasks, monitoring and evaluating system performance, design and implementing new programs and features.
In order to become a billionaire as a software engineer, you would need to acquire a significant share of equity. This can be done by being one of the first employee of a tech giant or by founding your own company.
The software engineering field is vast. Some programmers design, develop, and maintain the hardware and software that power electronic gadgets and computer networks. Others create software that enables users to execute specific functions on their computers, smartphones, or other electronic devices.
Requirements
The Bureau of Labor Statistics anticipates a 22 percent rise in software developer jobs in the following years. Aspiring developers can start by acquiring a bachelor's degree in computer science or software engineering.
Differential equations, calculus, and linear algebra are all parts of the math requirements for these majors. These skills and tools will help when maintaining and creating software.
Software engineering is about building, analyzing, and maintaining software programs. Some of these programs are essential in running an operating system and a network.
People who want to become software developers would have to develop a program or project that uses the ideas they've learned and turn them into something new.
2. Professional Athlete
- Average Salary: from $51,000 a year to millions per month.
- Workload: 88% of positions are full-time.
- Medium Demand: 9,074 sports jobs are available on
Professional athletes are those who play in organized sports competitions for money. Athletes can be found at all levels of the sport, from youth leagues to the professional level. Some professional athletes make millions of dollars annually, while others may only earn enough to cover expenses.
Becoming a professional athlete requires discipline and dedication, but it also requires talent and luck. It is even more difficult to become a billionaire, only a few athletes have ever achieved this impressive feat.
Athletes usually earn money from endorsement deals and advertisements from companies who want them to promote their products and services through commercials and posters. In addition, many athletes also endorse brands on social media platforms like Facebook and Twitter, adding more money to their pockets yearly.
Requirements
Maintaining overall fitness and participating on teams at various levels, such as community, school, and club teams, are all parts of training for sports. Most sports require good vision, making wearing glasses or contact lenses problematic. Professional athletes also need to be able to compete under extreme pressure.
Professional athletes are highly skilled and sometimes paid a lot for their services to the team or company. The salaries of professional athletes can vary depending on the sport, player's career, and market demand. Overall, their pay is $48,310 per year on average but the best athletes in each sport can earn hundreds of millions each year.
3. Investment Banker
- Average Salary: $150,000 a year (without bonuses).
- Workload: 100% of positions are full-time.
- Low Demand: 12 investment banker jobs are available on
A career as an investment banker is one of the most lucrative careers in the world today. Investment bankers are essential in helping companies raise capital through stock offerings, bond issues, and mergers.
They also help businesses grow by advising on strategic financial decisions such as raising money, selling or buying other companies, or forming joint ventures with other firms.
An investment banker works with many different companies at once, so they need to be skilled at multitasking and communicating well with others. They must also have strong analytical skills and manage complex financial transactions successfully. Note that only a few investment bankers who have funded their own edge funds became billionaires.
Requirements
A career in investment banking involves a lot of hard work, but it can be gratifying. Most people who enter this field have a bachelor's degree in finance or economics. However, some have master's degrees in business administration.
Additionally, to become a successful investment banker, you must have exceptional research skills, strong communication skills, and excellent critical thinking abilities. You also need a good amount of mathematical knowledge since much of your job will involve crunching numbers and analyzing data.
The top 5 percent of investment bankers earn more than $200,000 annually, and many earn over $500,000 annually. However, salaries vary greatly depending on experience level, location and industry served.
Investment bankers earn good salaries and bonuses but also have high-stress levels. They are under constant pressure to perform well and ensure their clients are happy with their services.
4. Jobs In Medicine And Life Sciences
- Average Salary: $242,000 a year (on average).
- Workload: 100% of positions are full-time.
- Low Demand: 9 medicine life science jobs are available on
Doctors, physicians, and life science researchers have duties ranging from treating patients to conducting research, performing surgery, prescribing medication, managing public health issues, and much more.
Wherever there are opportunities for scientific research in the medical field, there are opportunities to become a billionaire. However, medical research is a high-risk endeavor.
Requirements
You must earn a doctorate in medicine to practice medicine. Additionally, you will require a medical license. Most medical professionals complete at least a three-year residency. If you want to focus on medical research, you can also get a degree in life sciences.
Doctors must be compassionate toward their patients and provide them with the utmost care and attention. They must also be well-versed with a wide range of medicines, treatments, and surgeries to treat their patients effectively.
The ability to pay attention to detail, critical thinking, empathy, communications skills, physical stamina, knowledge of medical and accounting software, and the capacity to use various diagnostic and medical tools like ophthalmoscopes are all required to become a medical doctor.
5. Data Scientist
- Average Salary: from $114K to $175K.
- Workload: 93% of positions are full-time.
- Medium Demand: 5,207 data scientist jobs are available on
Data scientists are in high demand because of the skills they bring to the table. This is especially true in Silicon Valley, where companies like Facebook and Google hire thousands of data scientists yearly. They use computer programming skills to analyze large amounts of digital information to help companies make better business decisions.
Data scientists are often employed by companies that need to make decisions based on existing data, such as banks or insurance companies. They can also be found in marketing firms and research organizations.
As a data scientist, you can become a billionaire by funding a company in the field of Artificial Intelligence, finance, or business software.
Requirements
A computer science or mathematics bachelor's degree is required to become a data scientist. Computer science majors should take algorithms, computer architecture, and operating systems courses, while mathematicians should take advanced calculus courses such as differential equations and linear algebra.
Data scientists are often hired based on their experience with programming languages such as C++ or Python.
A master's degree in statistics can lead to higher salaries for data scientists and give them more advanced skills for analyzing data sets. A Ph.D. in statistics or computer science can also prepare someone for this career path.
Still, it's not a requirement for most positions - very few data scientists actually hold doctorate degrees.
6. Finance Trader
- Average Salary: varies widely.
- Workload: 100% of positions are full-time.
- Low Demand: 39 finance trader jobs are available on
Although finance trading covers multiple categories, one of the most popular of the lot is day trading. Day trading is a short-term strategy where you buy and sell securities (stocks, futures contracts, or currency) within one day.
Often, a day trader executes trades four or more times in five days. Day traders typically use technical analysis and charting software to identify price patterns that you can exploit for profit.
Since day trading involves high risk, you should be able to tolerate large swings in value and losses without incurring emotional stress that could adversely affect your decision-making process. Successful traders often have a high-risk tolerance and an uncanny ability to control their emotions during volatile market conditions.
Requirements
To succeed as a day trader, you need a combination of the following skills:
- Strong analytical skills: Being able to assess information quickly and accurately.
- Sound judgment: Knowing what kind of trades are likely to bring good returns.
- Be a master of the art of patience: The ability to wait for opportunities.
- Discipline: Knowing how much money you can risk, when to take profits and when to cut your losses.
- Knowledge: You must know your product (stock, currency pair) inside out.
- Focus: Concentrate 100% on what you're doing at any given moment.
The average annual return of an excellent day trader is between 5% and 10%, which is considerably higher than that of an investor who does not trade actively. The main drawback of being a day trader is its risk, as losses can be substantial in cases of incorrect trade analysis or bad luck.
7. Engineer
- Average Salary: $91,000 a year (on average).
- Workload: 93% of positions are full-time.
- High Demand: 51,805 engineering jobs are available on
Engineers are people who design and build things. They use their science, mathematics, and technology knowledge to create new products or improve existing ones. They also may research to invent new materials or products. There are many different types of engineers, including civil, electrical, mechanical, and software engineers.
A good engineer can earn a decent salary with additional benefits. Many engineers start their own businesses and turn their ideas into reality, which can be very lucrative if done successfully. However, only a handful of engineers became billionaires from their ideas.
Requirements
Engineering qualifications are based on the type of engineering you want to pursue. They generally include a bachelor's degree in engineering or science plus several years of experience in your field.
You will also have to pass state exams before you can become licensed as an engineer by taking the Fundamentals of Engineering (FE) exam, which tests basic knowledge in mathematics, science, reading comprehension, and writing skills.
There are additional requirements if you want to become licensed as a professional engineer (PE), which allows you to supervise projects and sign off on projects that affect public safety or health. You will need at least four years of supervised work experience under the supervision of a PE. Also, you’re required to take the Professional Engineering exam (PE).
8. Actuary
- Average Salary: $111,000 per year.
- Workload: 93% of positions are full-time.
- Low Demand: 154 actuary jobs are available on
Actuaries are financial professionals who use mathematical models to calculate and predict the risk of future events. They help companies set prices for insurance policies, manage investments, and make decisions about new products or services.
The profession requires a lot of education, but the pay is good, and you can work anywhere in the world. You can work in the insurance, finance, healthcare, and government sectors.
The job requires a lot of hard work and determination, but if you're willing to go the extra mile, you can climb the corporate ladder and earn a decent salary. Some actuaries are COOs or CEOs of their own companies and have earned a large fortune.
Requirements
These professionals must be well versed in mathematics and statistics as well as finance and business management. Actuaries must have a bachelor's degree in actuarial science, mathematics, statistics, economics, or another business-related field.
Moreover, you have to pass an exam to become certified. Actuary jobs usually require at least five years of experience in the field before an applicant can take the exam. The exam consists of four parts: general principles, financial engineering; life contingencies; and mortality/survivorship. It takes about two years to study for each part of the test.
9. Chief Financial Officer
- Average Salary: ranges from $200,000 to $550,000 per year.
- Workload: 93% of positions are full-time.
- Low Demand: 130 chief financial officer jobs are available on
If you love working with numbers and money, then being a Chief Financial Officer (CFO) is your best career option. You will be responsible for building up a company's finances and managing them effectively.
CFOs are involved in all aspects of the business, including investment decisions and planning for the company's future growth.
Chief financial officers are responsible for managing a corporation's financial assets and liabilities. They are also responsible for developing budgets, managing investments, and keeping track of the company's cash flows. If you can work your way up your career and get equity of the company, your earnings will only be limited by the growth of the company.
Requirements
To become a financial manager or a CFO, you need at least an associate's degree in business administration or finance from an accredited college or university. The position requires a person with strong leadership skills and a strong knowledge of finance.
Furthermore, you need to understand accounting and financial principles, as well as have the ability to analyze data and make decisions based on that analysis.