If you made half a million dollars per annum would you consider it enormous or just average? Well, the answer depends on what you use the money for. There is no doubt that the economy of the United States of America is characterized by taxes and bills. If you include all of these would you still have a substantial amount from the 500 thousand dollars?
Have you ever thought of getting a job that would pay over 500 thousand dollars per annum? Have you questioned yourself if it is possible? Well, is it possible to get a job without the possibility of being an entrepreneur? It is very possible, some jobs pay 500k a year, and they are professional job that pays well. Now, the question that arises is what job can fetch you 500 thousand dollars per annum?
According to the bureau of labor, an average American earns at least 50,000 dollars per annum. However, after excluding taxes and other bills you may not have much left. So, it is vivid enough that 500k per annum is mammoth and is enough for a lot of things.
Jobs that pay 500k dollars per annum.
There are several jobs available in the United States but not all jobs will fetch you 500 thousand dollars in a year. Despite paying taxes, people still boast of making over 500k dollars a year. Well, these people are unknown. There is no information about their names, address, or telephone number but there is a piece of information that can make you be like them. This information is the job they do.
Here are some jobs that can fetch you 500 thousand dollars annually;
1. Professional athlete.
There are numerous sports in the world and most people will gladly pay to see their favorite team or player on the pitch. Being an athlete has distinct categories. You can be a sprinter, high jumper, soccer player, basketballer, and so on. Most of these athletes get paid weekly and still receive bonuses per game.
For instance, a soccer player gets paid with or without playing a match and they receive bonuses when they play a match or the team wins a competition. This is a good way of making cool cash without having to do extra work. Today, sportsmen and women are on the list of most paid people in the world.
Apart from getting paid for your performance on the pitch, sportsmen get sponsorship and endorsement deals. In the NBA, a newbie in the sport earns at least 700k dollars per annum while experienced players earn over a million dollars per annum.
2. Film actor.
The movie industry is an accumulating business and this is because the demand for new movies is great and the necessity for more actors is imminent. The entertainment industry is known to most people and the domain for creating popular figures who make enormous cash from their handiwork.
Film actors portray characters of a movie or story. If you have a fictional work, they are made up of characters. These characters are then portrayed in a film. You wouldn’t act a movie for free, so the actors get paid for portraying these characters.
The USA has to be the country that is super active in the production of modern movies. Most people in the world enjoy American movies and they do not mind going to the cinema to see a new movie. Thus, the movie industry is making a lot of money and in return, they can conscript more actors to create new projects. A consistent actor can make more than 500k dollars in a year.
The medical field is important in all aspects. In the United States of America, the employment rate of skilled Doctors is high and this is because health is essential in all ramifications. Can you imagine going to a clinic for treatment but you didn’t get attended to because there are no doctors to treat you? Doctors are needed for the well-being of citizens in the country, but they wouldn’t be doing it for free.
You must be thinking about how you can make 500k a year by becoming a doctor. Although, as a new graduate of medicine, you can’t start making 500k a year immediately. It is an incremental process. You’ll have to amass further experience and heighten your work level to start earning enormous payments.
There are different kinds of doctors, right? Yes, so the amount they make differs. In the United States, a neurosurgeon makes at least 600k per annum. Enormous right? Yes! You can even make more as an orthopedic surgeon. Settling to be a doctor is a good choice.
4. Investment Banking.
An investment banker has to help stimulate capital allocation by financing in either firms or government institutions. They empower these organizations with monetary consultation and give good advice on the kinds of insurances, such as bonds and stocks, to issue, how and when to issue them, and the price of each security. Both private and public owned companies need the services of an investment banker and this makes the need for one necessary.
As an Investment banker, there is a compensation criterion that encompasses a salary and some additional compensation in cash. It includes commission, bonus, and profit-sharing. Before you can earn over $500k a year as an investment banker, you would have to clinch a lucrative role in a large investment company.
Becoming an engineer can fetch you up to 500k dollars in a year. However, there is different kind of engineers and they specialize in different fields such as electrical, chemical, aerospace, biomedical, and nuclear engineering among others. Engineers are conferred with the primary duties of finding principles to design a product, unraveling technical problems for some industries.
Who do you think is in charge of constructing roads, bridges, and other enormous buildings? They are Engineers of course. As an Engineer taking part in a big project, you are expected to make a lot from it.
Not all Engineers make a huge amount from their job and this is because there are levels to it. You cannot expect an engineer with ten years of experience to receive the same remuneration as a fresh engineering graduate. With time, an experienced engineer can spout 500k or even more per annum.
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What can 500k dollars buy?
If you earn 500k per annum then you can still accomplish incredible things. You can drive your favorite kind of car and still have enough in your account. You can get an extremely nice house for yourself and you can still use the remains to start up a mini-business. Nonetheless, not everyone likes the idea of creating a business. There are other things you can do with it to increase its value.
You can live a good life with 500k dollars. You can purchase anything you want when important. However, you wouldn’t be getting the whole 500 thousand dollars at once. It is the total of what you’ll get in a year. It also indicates the stipend per month is satisfying and you can save from it to buy whatever you need.
Can you consider a person making 500k per annum rich?
The answer to this hinges on what you call rich. Some people assume that if a person isn’t making up to 50 million dollars and above, then the person is not affluent. If you pertain to this group then you’ve answered your question. On the other hand, a lot of people see 500 thousand dollars as a tremendous amount of money. Hence, to them, anyone who makes 500k is considered rich.
In determining whether the person reaches or not it depends on what you classify as being rich. For an average American, making such an amount of money per annum is encouraging and such a person is living a good life. With 500k, you can purchase a lot of things. You can stock up your kitchen with just a quarter of a month’s salary.
According to the internal revenue service, any family or person that makes more than 470,000 dollars per annum in 2021 can be classified as a top income earner. With such an amount, the family can afford their daily needs and wants. Hence, the answer is a big, Yes! However, you can do better if you’re already making 500k and you are yet to, you can always improve and aim higher.
In conclusion, these are the Jobs you can venture into to start making 500k per annum. Would you be an actor? Or you’ll rather try to be an engineer or go into sports instead. The choice is yours. All jobs are legit and they pay more than you can imagine.