Graduating from college in a few weeks, and looking to start a career
where the most growth is? Research firm IbisWorld recently delved into
its database of more than 700 industries and came up with a list of the
fields most likely to show strong revenue and employment growth, along
with above-average salaries, for at least the next five years. Here are
the top six businesses for new grads now:
1. Hospitals/health care.
Projected
to grow by 19.5% between now and 2020, the medical industry will
benefit partly from an aging population that will need more health
services in the years ahead. Current average industry salary: $66,567.
2. Engineering services.
The
industry “is expected to hire thousands of new graduates over the next
five years as business confidence increases,” along with higher
government spending on infrastructure, the Ibis study says, for a growth
rate of 19%. Average industry salary this year: $87,246.
3. Management consulting.
With
an 18% growth rate from now until 2020, profitability — and demand for
new hires — has been climbing as the economy recovers and companies
invest more in strategy, Ibis reports. Average 2015 industry salary:
$58,702.
4. Accounting.
The industry, projected to grow
17%, benefits from the recent rise in financial regulation, which keeps
auditors busier than ever. More globalization will also “lead to more
cross-border corporate deals that require expertise in U.S. accounting
standards.” Current average salary: $67,474.
5. Semiconductors and circuits.
Demand
for “advanced wireless consumer electronics, such as smartphones,”
including new chip technology that can integrate existing WiFi and
mobile networks, will generate 16% growth by 2020, with electrical
engineers in especially big demand. Average salary now: $93,167.
6. Software development.
The
job market for software engineers, developers, and programmers has been
rosy for years, but the Ibis study projects that demand for smartphone
app developers in particular will soar at an annual rate of 37.6%, far
outpacing the projected 15.5% growth rate of the software business as a
whole. The industry’s voracious appetite for talent shows in the average
annual 2015 salary: $147,274
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