Advantages of High Paying jobs:

1. Salary: The most attractive word in a professional life is “Salary”.

Moreover when this salary is high it gives a great motivation to the
one who is drawing it after a laborious work and hard study. A high
paid job gives the mental satisfaction of the full utilization of one’s
studies and the cost engaged behind the study from schooling till
college. Good mind reflects a good human being.

2. Respect comes with money & position: When one draws a

high salary, the job is ought to be a very respectable one. A doctor is
always respected for his service towards the community where an
engineer who serves the community with his work is also respected
from heart. The high position they hold in the society gives them the
power & prestige to serve the community unbiased. And also hard
earned money brings respect of friends, relatives & family as well.

3. Security in Job: The jobs are such that their demand curve is
never downward. A doctor’s demand is ever- rising, wherein a well
experienced engineer is a treasure to a company. Again a company
would always prefer to retain a good management employee who is
dedicated towards his work and is worth a high pay. A high paid job
for a suitable candidate can never bring a threat towards job
stability.

4. Satisfied mind brings happiness: When ones hard work and

laborious study pays in terms of high pay, he/she is satisfied to the
full. He/ She utilize the money to the fulfilment of his/her dreams
and responsibilities, which in turn makes the one happy and
contended. His mind states in a purest form and the person
becomes happy from within. His/ Her mind body reflects a happy
being that stands as an example in front of many in the same path.

4. Money flow in the economy increases: With a high paid job

the money flow in the economy increases in a variety of ways. Firstly
the company hiring a person on a high pay will always try to utilize
the intellect in the most possible way. One who is highly qualified
can engage his ideas in getting business and provide service in a
wide field and also from abroad as well. This would lead a rise in the
GDP. Gross Domestic production is the result of the summation of
the total production that took place in the economy. GDP denotes
that Income= expenditure = production. GDP is a very crucial
indicator of an economy’s progress. A rise in GDP denotes a rise in
the standard of living of its citizens.

5. Expenditure towards healthcare & education increases: A

society prospers when it’s free from diseases & ailments and is
educated up to the mark. When one is able to fulfil his/her basic
needs like shelter, food & clothing easily, the next basic need comes
for proper healthcare & education. When one gives the family proper
health protection and education, then it directly counts to the
wellbeing of the society.

6. Healthy work environment: When one enters a high paid job,

it’s obvious that the job will be respectable and of high status. This
gives opportunity to the worker to work in a healthy working
environment which in turn nurtures his knowledge and skill to the
fullest. It becomes easier for the employee to give his fullest output
which in turn gives benefit to the company as a whole.
Disadvantages of High Paying Jobs:
1. Late starting of Career: To get a high paid job one has to
qualify oneself to that mark by completing several courses, cracking
various competitive examinations. This process of getting into a
well-paid job in turn increases the study period thus resulting into
late start of the career. When a person starts his/her career late, the
time span of the career eventually gets shortened which in turn
lowers the opportunity to earn over a long period of time.

2. Increase in Working Hours: A high pay along with it brings a

demand from higher working hours. Whenever a company invest
good money behind one, then it becomes obvious that they would
demand and squeeze out the maximum from him/her. They would
like to extract more and more from the one they are paying so high.
They would give assignments beyond their working hours to finish.
Sometimes such high paid jobs does not bear any working hours
mentioned as such, which easily gives the opportunity to the
company to engage their employees to work beyond time or extra
time mostly.

3. Increase in work pressure: A high paid job is directly

proportional to higher work pressure. When your company pays you
well you are bound to abide by what they say and direct you. It is
very likely that such jobs will bring untimely assignments, with tight
deadlines and merciless work pressure. Most of such jobs buy your
will and you are bound to say yes to such work pressure as you
might be scared of the consequences of attrition from such a pay.

4. High pay buys rest: Most highly paid jobs comes with packages
of high end Laptops with unlimited internet facilities, cell phones
and many more, But these are actually ways of the company to buy
your personal time as well. The employer easily gives you
assignments to finish within a time span though you have left office.
He bounds you to work from home though you are beyond your
working hours. One can hardly find rest though being at home
comfort. His/her brain works being away from office under
tremendous pressure.

5. Family life ruins: A high paid job buys your family life as well. A
day cannot be more than 24 hours. When you are running after
money and more money it’s obvious that you will have enough time
neither for yourself nor for your family. And when you are employed
by somebody you are bound to follow the instructions and complete
the task within a stipulated time span which obstructs you to spend
time with your family. It would happen that you could not turn up to
commitments to your family just because of your boss’s assignment
need to be met. Once engaged into such high paid assignments one
would have to forget vacations, occasions and all which in turn will
turn a human into a machine thus cutting all bonds of relations,
destroying family peace and harmony.

6. Health ruins: As a high pay promises you a dearth of time,

running behind work deadlines, it ruins your health as well. You
would not get time at all. Daily stress, tension and restless hours,
sleepless nights will result in degradation of health without doubts.

7. Education cost: To get a high paid job the kind of education

needs to be gained is very costly and not everybody can afford it. To
become a doctor or an engineer is very costly and it always needs to
be kept in mind that the job is worth the study. Education loan to
pursue such hefty courses are available, but not many meritorious
students can be eligible to apply for the same. There occurs a
compromise between merit and money also.

8. Fear of attrition: Associated with a high paid job is the risk of

getting jobless. When one climbs too high the risk of falling and
breaking bones increases proportionately. Same is the condition with
a highly paid job. Getting jobless and the fear of it is higher here
than a low paid job. For example, if we take the case of commercial
pilots in USA, they face continuous uncertainty in their career
because of the condition of the airline industry and constant
competition from low cost airlines.

9. Fear of fall in lifestyle: High salary brings with it the

achievement of better and best lifestyle with high end and luxurious
items for living. In such high paid jobs as there is opportunity to buy
high lifestyle there always remains a risk of falling jobless resulting
to diminishing of the standard of living.

10. Stressful: Some of the highly paid jobs are associated with
maximum stress and tension. Some of them are the jobs of air traffic
controllers and surgeons whose decisions always matter for lives. In
their work there remain zero margins for error. Stress related to job
result to be more taxing than anything else resulting to physical &
mental illness.

11. Fear of not performing: A fear of not performing to the mark

always haunts the mind of a person engaged in a high paid job.
There prevails high competition level in such offices. So if anyone
fails to perform well to the boss’s expectations he/she might be
demoted or be losing his/her job.
12. Compromise towards dream job: Sometimes people go for a
wrong job just in lust of higher salary. We in this world run after
money, sometimes forgetting our passion and will. What we want to
do in life most of the time gets suppressed for lust of money and we
accept those high paid job offers which we were never ready to or
very less interested to do.

13. Limiting the Growth opportunity: In a highly paid job there

remains very less opportunity to grow. The career becomes stagnant
in one point. If one gets every satisfaction in a go, he/she finishes
his/her erg to eat more, the same happens when one gets every
requirement from a single job, his erg to grow stops and where
growth stops we know life ends.

14. Risk oriented jobs: Most of the highly paid jobs associate high
degrees of risk with it. For example an air traffic controller has to be
highly alert in his job else will be responsible for lives, on the other
hand a small mistake in a doctors diagnosis or surgery may cause a
loss of life.

15. Choice for options gets restricted: An alluring salary and

perks is always responsible in blocking career options and choices.
Choices become less and options sink with a high paid job. One feels
insecure in leaving a job which is highly paid and pursuing a career
in a trait which one dreamt of.

16. Makes Workaholic: High paid job pertaining to higher work

hours and pressure makes a man workaholic. Always work and no
play make jack a dull boy. No time for oneself, any recreation or
recess will bring boredom in life resulting to ageing before time.
There would be fatigue in work thus resulting to less efficiency in
assignments.

It’s true that money does matter the most in today’s world, but still
when it comes to choose a career for a long run a critical analysis of
oneself is highly recommended to judge if the job is going to add
stars for the future development of self. It’s only you who has to
decide before accepting a high paying job offer, whether to think for
future and long run benefits or to live in present with a job that pays
you well with stress , tension, long working hours, no or less
weekends, no family life, degrading health with increasing pressure.
However person who want to balance personal life with a sober
income prefer not to accept a high pay package.

Certain careers, such as those in the medical and legal professions, are generally considered to be
prestigious and lucrative. But there are costs – both tangible and intangible – involved in
pursuing careers in these and other well-paying professions. Do the benefits outweigh the costs?
Read on to find out.

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Dream jobs vs. lucrative professions

Let's first distinguish between an individual's dream job and a lucrative profession. A dream job
is often a matter of personal preference, and is one that is particularly well-suited to an
individual's personal situation. Thus, a working mother's dream job may be one that allows her
flexibility and permits her to work from home when required. But flexibility and telecommuting
options may hardly be desirable job attributes for a hard-charging executive who is intent on
climbing up the corporate ladder.

The focus of this article is on the best-paying professions. Rather than using subjective criteria to
define such professions, we rely on the annual data from the Occupational Employment Statistics
(OES) survey produced by the U.S. Bureau of Labor Statistics, which produces employment and
wage estimates for more than 800 professions.

Highest-paying professions

The popular perception that jobs in the medical field are among the best-paying ones is based on
fact. Since 1999, when the OES survey began using a new occupational classification system, the
highest-paying jobs in the U.S. have been dominated by the medical profession. Surgeons top the
survey from 1999, with an average annual income of $135,660, which had risen by more than 50
per cent to $206,770 in 2008. Other medical careers that are among the best-paying are
anesthesiologists and obstetricians/gynecologists, which have ranked among the top five since
1999.

In addition, a number of other medical careers such as internists, orthodontists and dentists, and
family and general practitioners, have consistently ranked among highest-paying professions
since 1999. Although pursuing a medical career is an almost certain way of attaining a top-tier
income, other professions such as computer and information marketing managers, financial
managers, physicists, marketing managers, petroleum engineers and chief executive officers, air
traffic controllers, airline pilots and lawyers are also among the highest paid.

The Costs

There are obvious costs involved in pursuing the best-paying professions. These costs range from
the tangible ones such as the monetary cost of education, to intangible costs such as stress and
long hours. Each of these costs is discussed below.
Cost of education: Most of the best-paying professions require many years of intensive study,
which often leads to a massive debt load by the time one commences work. For instance,
consider the medical field, which as we have seen, has some of the best-paying careers.
According to the Association of American Medical Colleges (AAMC), annual tuition and fees at
state medical schools in 2008-09 averaged about $23,500 for state residents and about $43,500
for non-residents; the corresponding numbers at private medical schools were $41,300 and
$42,500 respectively. These figures exclude housing and living expenses. The AAMC also states
that about 87 per cent of medical students graduate with some educational debt, with the median
debt at graduation amounting to $155,000 in 2008.

Students who are pursuing careers in other well-paying fields that require years of study also
have a substantial debt load upon graduation. For example, the average law school student is
estimated to be about $100,000 in debt by the time of graduation. The only exception to this rule
may be chief executives, although many obtain expensive MBAs from top schools, others rise to
that position after starting successful businesses as entrepreneurs or obtain required designations.
In the field of entrepreneurship, a lengthy period of time in the pursuit of higher education is not
necessarily a prerequisite.

Opportunity cost: Apart from the direct cost of education, one also has to consider the forgone
opportunity cost of not being a member of the workforce. Students who are pursuing a degree in
a high-paying profession are often unable to work due to the rigorous academic schedule, and
may lose many years of income as a result. For example, to become a doctor takes anywhere
from 11 to 16 years to complete the education requirements. This includes four years of
undergraduate school, four years of medical school, and three to eight years of residency training
in a specialty. Assuming one could earn, say, an annual average of $50,000 during that period,
the opportunity cost of not working exceeds $500,000.

Cost of long hours: Long hours and the demands of the job can exact a considerable toll on
family life and personal relationships. Airline pilots and other flight crew, for example, are
typically away from home for five days at a time during a normal work schedule. Exceedingly
long hours are generally the norm in the early stages of careers in the medical and legal
professions, with 80+ hour workweeks common for medical interns and junior lawyers.

Stress: Some of the best-paying professions such as air traffic controllers and surgeons often
rank as being among the most stressful jobs. Part of the stress for an air traffic controller may be
attributed to the huge responsibilities of the job, where lives depend on correct decisions being
made at all times and there is zero margin for error. Job-related stress can take a huge toll on
one's physical and mental health, and can sometimes result in premature burnout.

Cost of uncertainty: People in the best-paying jobs still have to contend with some degree of
uncertainty about their career like everyone else. For example, commercial pilots in the U.S. face
ongoing uncertainty about their job prospects because of the state of the airline industry and the
competition from low-cost carriers. Physicians and other medical specialists have to contend
with malpractice lawsuits that can wreck their finances and reputation, not to mention the
challenges stemming from dealing with an inefficient and overburdened healthcare system.
Costs Vs. Benefits

Dissatisfaction with one's job or career is not restricted only to people with mundane, low-paying
jobs. Even well-paid professionals express dissatisfaction with their jobs, although it may be
logical to expect that the prevalence is less than in low-paid workers.

A survey of primary care physicians (a group that includes general practitioners and
pediatricians) by the Physicians Foundation in 2008 found that 60 per cent of the respondents
would not recommend medicine as a career. Furthermore, almost half said that over the next
three years, they planned to reduce the number of patients they see or stop practicing medicine
entirely.

Nevertheless, there are some obvious benefits of high-paying professions, including:

 Greater job security - It is widely recognized that education pays. Workers without a
college education are generally among the most vulnerable to job loss.

 Money on education is well-spent - From a monetary viewpoint, the extra years spent in
college seem to be worth it. For example, the average annual salary of the top 10
professions was $181,500 in 2008, or 10 times the average annual salary of the 10
lowest-paying professions. Granted that many are even unable to find work without some
sort of education.

 Affordable luxuries – High-paying professions can enable one to pursue a lifestyle that
may not be possible for the average worker. Indulgences such as luxury automobiles,
frequent overseas vacations, and cosmetic procedures that are commonplace for high-
income earners may be unaffordable for those with lower incomes.

The bottom line

Ultimately, whether the benefits of a high-paying profession outweigh the costs, or vice versa, is
a matter of personal choice and preference. However, for those who want to balance personal life
with a decent income, consider careers that require fewer years of college education and that are
not as stressful. Most importantly, choose a career where you like what you do. After all, as
Confucius said, choose a job you love and you will never have to work a day in your life.