Study Reveals Which Top Paying Careers Earn The Most

Taking into account the personal costs of training, education and licence fees, Standout CV can reveal the roles that will earn workers the most in the first 20 years of their careers

  • Financial managers and PR directors reach 6 figure salaries the fastest, taking the average worker just 18 years to £100,000 or more

  • Prior to COVID, new pilots would earn a total of £1,132,500 within 20 years of starting, this is now estimated to have dropped to £924,500

  • Police officers earn more than any other role for the first 15 years of their service

  • CEOs have the second-highest average salary but debts and other costs see them earn the 4th most of the jobs analysed

  • See which roles earn the most in the first 20 years here

Taking into account the impact of COVID on the airline industry, the table below shows the average earnings for each of the top-paying roles analysed over a 20-year career, less training and education costs.

Career

5 Years

10 Years

15 Years

20 Years

Pilot

-£70,000.00

£146,500.00

£478,500.00

£924,500.00

Financial Manager

£99,000.00

£277,000.00

£587,000.00

£1,087,000.00

PR Director

£1,722.00

£159,722.00

£439,722.00

£939,722.00

Senior Police Officer

£130,794.00

£339,121.00

£598,576.00

£916,279.00

CEO

-£2,278.00

£183,722.00

£447,722.00

£807,722.00

Marketing Director

£3,722.00

£153,722.00

£348,722.00

£798,722.00

IT Director

-£2,278.00

£137,722.00

£353,722.00

£728,722.00

GP

-£67,130.00

£46,807.00

£282,705.00

£636,615.00

Legal

-£34,286.00

£195,706.00

£575,706.00

£627,706.00

Hospital Doctor

-£67,130.00

£46,807.00

£275,770.00

£592,105.00

 

 

The roles that pay the most in the first 20 years

According to the latest ONS data, the 10 highest paying roles in the UK earn an average of £71,000 per year, with pilots reporting an average salary of £92,330 and CEOs £85,239.

Taking into account the personal costs of training, education and licence fees, Standout CV can reveal the roles that will earn workers the most in the first 20 years of their careers.

Over the course of 20 years, pilots were found to accumulate the most earnings of the top-paying roles, cashing a total of £1.13 million. However, within the first 5 years of their career, the average pilot makes a net loss of £70,000 due to the cost of qualifications and other fees.

The second-highest earning role over the course of 20 years is financial manager, earning those that follow it as a career choice as much as £1.1 million; with a net gain of £99,000 within the first 5 years. This is due to a degree not being required to start a finance career and many top firms moving away from this as a requirement and, instead, offering vocational training.

Rounding off the top 5 earning careers, Standout CV’s analysis found that PR directors amass £939,722 of earnings, over 20 years, senior police officers will earn £916,279, and CEOs £807,722.

It might seem surprising to see CEOs earning less than senior police officers and other top-paying careers. However, the study found most CEOs start their career within graduate sales positions, with varying degrees of student debt and volatility of earnings through their career paths. 

For medical professionals, the choice can be whether to work in a community setting or a hospital environment. According to Standout CV’s analysis, those who become GPs will earn more over 20 years than those who work in a hospital environment, with GPs earning an average of £636,615 across 20 years whilst hospital doctors earn £592,105 across the same period.

However, this disparity between the GPs and hospital doctors reverses by the 24th year in the profession, with those working in hospitals earning more than their GP counterparts. 

 Training and qualification costs for the top 10 paying careers

Standout CVs analysis into the training and qualification fees for the top paying careers found pilots to have the largest outlay of any analysed. Spending an average of £95,000 to earn their badges, pilots spend almost £15,000 more than any other career in fees and qualifications.

The career with the second-highest costs is doctoring. Both general practitioners and hospital-based doctors have an average qualification cost of £80,556. However, as already mentioned, their levels of earnings do diverge over the course of 20 years.

Careers

Cost of training and other fees

Pilot

£95,000

CEO

£40,278

Marketing Director

£40,278

IT Director

£40,278

Legal

£54,278

Financial Manager

£2,250

PR Director

£40,278

GP

£80,556

Hospital Doctor

£80,556

Senior Police Officer

£0

 

With internal training provided by the police force, and a degree not needed, the career path of a senior police officer was found to have no entry or training costs. This lack of costs helping make it the highest paying career for the first 10 years, as other careers pay off and accrue training costs.

Andrew Fennell, director and careers expert at Standout CV comments:

“According to the latest ONS data used in our study, the 10 highest paying roles in the UK pay an average of £71,000. However, as our study also shows the career path is never simple when it comes to earnings.”

“If you’re just starting or thinking about a new career, it’s important to consider the costs that could be involved in breaking into a new job market and career; be that through educational courses, professional training, or even licence fees, there are plenty of commitments you must understand before starting a new career.”

“As our study shows, many of the top-paying roles in the UK require high fees to be paid to get a foot in the door, which for many could be both a deterrent and worry for those from less privileged backgrounds. It’s positive to see that such a key service like the police force provides free training and a salary that competes with other high-paid careers like CEOs and financial managers.”

You may also be interested in these articles:

Sponsored Video

Register, Login or Login with your Social Media account:


Advertisers

Upcoming FE Events

Advertiser Skyscrapers

Newsroom Activity

FE News: The Future of Education News Channel had a status update on Twitter 6 hours 26 minutes ago

RT @FENews: Education Secretary speech to FED National Education Summit: @GavinWilliamson addresses the Foundation for Education Developmen…
View Original Tweet

Latest Education News

Further Education News

The FE News Channel gives you the latest education news and updates on emerging education strategies and the #FutureofEducation and the #FutureofWork.

Providing trustworthy and positive Further Education news and views since 2003, we are a digital news channel with a mixture of written word articles, podcasts and videos. Our specialisation is providing you with a mixture of the latest education news, our stance is always positive, sector building and sharing different perspectives and views from thought leaders, to provide you with a think tank of new ideas and solutions to bring the education sector together and come up with new innovative solutions and ideas.

FE News publish exclusive peer to peer thought leadership articles from our feature writers, as well as user generated content across our network of over 3000 Newsrooms, offering multiple sources of the latest education news across the Education and Employability sectors.

FE News also broadcast live events, podcasts with leading experts and thought leaders, webinars, video interviews and Further Education news bulletins so you receive the latest developments in Skills News and across the Apprenticeship, Further Education and Employability sectors.

Every week FE News has over 200 articles and new pieces of content per week. We are a news channel providing the latest Further Education News, giving insight from multiple sources on the latest education policy developments, latest strategies, through to our thought leaders who provide blue sky thinking strategy, best practice and innovation to help look into the future developments for education and the future of work.

In May 2020, FE News had over 120,000 unique visitors according to Google Analytics and over 200 new pieces of news content every week, from thought leadership articles, to the latest education news via written word, podcasts, video to press releases from across the sector.

We thought it would be helpful to explain how we tier our latest education news content and how you can get involved and understand how you can read the latest daily Further Education news and how we structure our FE Week of content:

Main Features

Our main features are exclusive and are thought leadership articles and blue sky thinking with experts writing peer to peer news articles about the future of education and the future of work. The focus is solution led thought leadership, sharing best practice, innovation and emerging strategy. These are often articles about the future of education and the future of work, they often then create future education news articles. We limit our main features to a maximum of 20 per week, as they are often about new concepts and new thought processes. Our main features are also exclusive articles responding to the latest education news, maybe an insight from an expert into a policy announcement or response to an education think tank report or a white paper.

FE Voices

FE Voices was originally set up as a section on FE News to give a voice back to the sector. As we now have over 3,000 newsrooms and contributors, FE Voices are usually thought leadership articles, they don’t necessarily have to be exclusive, but usually are, they are slightly shorter than Main Features. FE Voices can include more mixed media with the Further Education News articles, such as embedded podcasts and videos. Our sector response articles asking for different comments and opinions to education policy announcements or responding to a report of white paper are usually held in the FE Voices section. If we have a live podcast in an evening or a radio show such as SkillsWorldLive radio show, the next morning we place the FE podcast recording in the FE Voices section.

Sector News

In sector news we have a blend of content from Press Releases, education resources, reports, education research, white papers from a range of contributors. We have a lot of positive education news articles from colleges, awarding organisations and Apprenticeship Training Providers, press releases from DfE to Think Tanks giving the overview of a report, through to helpful resources to help you with delivering education strategies to your learners and students.

Podcasts

We have a range of education podcasts on FE News, from hour long full production FE podcasts such as SkillsWorldLive in conjunction with the Federation of Awarding Bodies, to weekly podcasts from experts and thought leaders, providing advice and guidance to leaders. FE News also record podcasts at conferences and events, giving you one on one podcasts with education and skills experts on the latest strategies and developments.

We have over 150 education podcasts on FE News, ranging from EdTech podcasts with experts discussing Education 4.0 and how technology is complimenting and transforming education, to podcasts with experts discussing education research, the future of work, how to develop skills systems for jobs of the future to interviews with the Apprenticeship and Skills Minister.

We record our own exclusive FE News podcasts, work in conjunction with sector partners such as FAB to create weekly podcasts and daily education podcasts, through to working with sector leaders creating exclusive education news podcasts.

Education Video Interviews

FE News have over 700 FE Video interviews and have been recording education video interviews with experts for over 12 years. These are usually vox pop video interviews with experts across education and work, discussing blue sky thinking ideas and views about the future of education and work.

Events

FE News has a free events calendar to check out the latest conferences, webinars and events to keep up to date with the latest education news and strategies.

FE Newsrooms

The FE Newsroom is home to your content if you are a FE News contributor. It also help the audience develop relationship with either you as an individual or your organisation as they can click through and ‘box set’ consume all of your previous thought leadership articles, latest education news press releases, videos and education podcasts.

Do you want to contribute, share your ideas or vision or share a press release?

If you want to write a thought leadership article, share your ideas and vision for the future of education or the future of work, write a press release sharing the latest education news or contribute to a podcast, first of all you need to set up a FE Newsroom login (which is free): once the team have approved your newsroom (all content, newsrooms are all approved by a member of the FE News team- no robots are used in this process!), you can then start adding content (again all articles, videos and podcasts are all approved by the FE News editorial team before they go live on FE News). As all newsrooms and content are approved by the FE News team, there will be a slight delay on the team being able to review and approve content.

 RSS IconRSS Feed Selection Page