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To print article, click Print on your browser's File menu. Go back Posted 3/25/2004 |
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Extra The hottest -- and best-paying -- careers Big opportunities still exist, despite the headlines. The health-care industry dominates both job growth and pay. And computers still pay. By Kim Khan If you listen to the daily news, it's easy to believe the entire job market has ground to a stubborn halt. The truth is not nearly so simple -- or bleak. Yes, large numbers of workers are rightfully frustrated with their circumstances, as millions of positions have vanished in recent years. But even as certain U.S. employment categories (especially manufacturing) are shrinking, plenty of others are growing. And for job-seekers who are young enough or flexible enough to acquire specialized training or education, the opportunities can be dynamic. So where are these wonderful opportunities? According to Bureau of Labor Statistics (BLS) projections, based on data and mathematical models released in February, the simplest, most direct answer is this: health care. (The Labor Department started these projections after World War II to assist veterans in getting jobs and in choosing good careers, and in general, the annual report has been fairly accurate.)
Of the top 10 occupations expected to post the strongest growth in employment by 2012, eight are health-care related. As Federal Reserve Chairman Alan Greenspan recently noted, the baby boom generation (which starts hitting retirement age in 2008) will start straining Social Security and Medicare as demand for health-care services rises dramatically. For that reason, occupations ranging from medical assistant to physical therapist to home health aide rank high on the job-growth list for the current decade.
A call for assistance Medical assistants are expected to see the biggest increase in jobs from 2002 to 2012, growing 59%, according to the BLS. Medical assistants perform a range of clinical duties for doctors and other health professionals, from updating charts, drawing blood and answering phones to taking blood pressure -- virtually everything short of examining and diagnosing patients. On average, they earn $24,810 a year, according to the BLS. Importantly, it's not a dead-end occupation, as medical assistants can move into higher-level medical administration -- or use the experience as a stepping stone for further training in nursing or other medical professions. Related news and commentary on MSN Money
The BLS growth projections are borne out by the number of medical assistant schools popping up across the country, according to the American Association of Medical Assistants. The group is seeing more and more post-secondary programs apply for accreditation, according to its executive director and legal counsel, Donald A. Balasa. Why the surge? It's mainly because medical assistants are versatile, able to manage a wide range of work in today's managed-care environment; they're also able to deliver care in ambulatory or outpatient settings, where there is increasing demand for services these days. The American Academy of Physician Assistants (AAPA), representing the No. 3 occupation on the list, also is seeing evidence of the BLS projections. We are seeing students coming out of programs and quickly finding jobs, said AAPA spokeswoman Nancy Hughes. Most graduates are still in practice today, and the increase in salary is faster than inflation, telling us there is demand out there. Unlike medical assistants, physician assistants actually examine, diagnose and treat patients, under the supervision of a physician. All physician assistants must complete an accredited course of training, and most have at least a bachelors degree, according to the BLS. Some specialize in areas such as emergency medicine, and all PAs must also pass a national exam. Helping to make up for all the cost of education is a very impressive average annual salary of $63,490. But since PAs must always be supervised by physicians, the opportunity for advancement can be limited. In 2003, there were 57,879 physicians assistants qualified to practice in the United States, up from 26,660 in 1996, according to the AAPA census. The aging population is chief biggest driver of demand, Hughes said. But she also noted that the occupation is becoming better known in the health-care community, And with a large number of Americans uninsured, there is a big need to find ways of expanding access to medical care. Two winning technology careers In terms of job creation, second only to the care of people's health will be the care of people's computers. One key cog in this arena is the systems analyst, a computer-data specialist who's able to find or design technology solutions for a wide range of business needs -- analyzing sales or inventory trends, for instance, or improving the flow of raw materials to manufacturing facilities. The number of systems analysts will jump an impressive 57% from 2002 to 2012, the BLS says. These jobs will surface in virtually all major industries, though the broadest swath of opportunity for systems analysts is expected to come in the technology industry itself. Within the tech field beyond systems analysts, programmers are also expected to see big job gains. The category occupies the No. 8 and No. 9 spots on the job-growth list. The projected increase in demand for software engineers only slightly trails that of systems analysts, and there are a lot of them. Numbering 2.1 million, programmers are the largest job category in the IT field, according to Bob Cohen, spokesman for the Information Technology Association of America. Notably, the education requirements for programmers have been growing nearly as fast as the numbers of jobs, the BLS said. In 2002, more than 65% of programmers had at least a bachelors degree. That said, less-time-consuming associates degrees are gaining popularity as a way of gaining entry-level positions. Finding the green Health care may be where the jobs of the future are, but is it also where the money is? You bet. Medical professions dominate the list of top-paying occupations, representing nine of the top 10. Only chief executive officers prevented a health-care sweep in the top 10. The surgeon's skills are still reaping the biggest bucks. The average annual salary for a surgeon in 2002 was $189,590, according to the latest statistics available from the Labor Department. They are closely followed by anesthesiologists, obstetricians and gynecologists. Internists, pediatricians, family practitioners, psychiatrists and dentists also crack the top 10.
Part of the reason these professions pay so well is the skill level needed and the costly training required. On average, graduates emerge from four years in medical school with $110,000 in student loan debt, according to the American Medical Association. Then there are the hours. Medical school is followed by at least a three-year residency program, which can be grueling. Last year, the Accreditation Council for Graduate Medical Education approved limits on residents' work: an average of 80 hours per week over a four-week period. And the overtime doesnt stop once the physician is licensed. Nearly all the top-paying medical professions worked much more than a 40-hour week. Only dentists slipped by with less, making six figures and working 37.6 hours per week. Doctors also have high medical insurance costs to contend with. While cost varies by specialty and state, insurance can run as high as $210,000 per year for an obstetrician/gynecologist in Dade County, Fla., AMA spokesman Robert Mills said. I got a McJob, but it doesn't pay At the other end of the spectrum, flipping burgers still pays poorly. McDonalds
Food preparation, cafeteria attendants, counter attendants, hosts and hostesses and dishwashers were other food-related occupations among the lowest-paying jobs in the nation. Casino jobs also got poor marks on the pay scale. While communities ranging from Tunica, Miss., to Atlantic City, N.J., have proclaimed the economic benefits of allowing gambling, most employed in the industry aren't exactly making the big bucks. Card dealers, for example, take home about $7.82 an hour on average. |
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