What Are High Income Skills?
High income skills are the professional abilities and knowledge that could earn you a six-figure annual salary. The definition of high-income varies from location to location due to differences in living expenses, but a six-figure annual paycheck is a good benchmark for defining high income skills.
And if you want to break down the definition of high income further, the Pew Research Center has calculated that around 19% of Americans are in upper income households.
Here are the high income skills to learn if you want to join the top fifth of earners.
Each skill you’ll see is also in high-demand and set to remain so for the foreseeable future. So let’s make a start and see what you should learn if you want to earn.
1. Software Development
It was hard to know where to start, but software development is certainly a worthy choice for our number one spot. Software is essentially the programs and other operating information used by a computer or electronic device. And with so many aspects of life being computerized there’s a strong demand for people who can create the code that runs it all.
What’s more it doesn’t even necessarily require a university degree to get coding. Online coding bootcamps from the likes of EdX and Udemy can get you up to speed in months, rather than years.
And what’s the pay-off? The median salary for a software developer currently stands at $107,510 per annum, with top-ranking professionals earning upwards of twice that. A very lucrative skill indeed.
2. UX Design
UX designers ensure products, services and devices offer a seamless and pleasant user experience. They focus on the experience of the end user and their work is critical to a product or device’s commercial success.
UX design incorporates aspects of psychology and design, bound together with commercial awareness and market research. Good UX designers are easily earning in excess of $100k per annum and there’s a great choice of training available online.
SEO or search engine optimization is another incredibly valuable technical skill. So what is SEO exactly? Search engine optimization is the practice of ensuring a company’s website appears as high up as possible in search engine results, usually Google. The higher up in the search results a web page is, the more visitors it gets, which translates into more business.
As you can imagine, every business with an online presence wants a piece of the action so professionals with SEO skills are in high demand.
4. Video Production
Video content is king. Just witness the explosive growth of YouTube and TikTok. It’s more engaging, richer in information and more compelling than plain written content. Businesses are increasingly looking for skilled video production professionals to strengthen their marketing output.
As with the other skills we’ve discussed there are plenty of options available for learning about video production and editing. An investment in the right knowledge and good equipment will pay off nicely.
Copywriting is a specialized form of writing skill focusing on creating promotional and marketing materials with the intention of selling a product or service. It’s a high income skill that is valued in pretty much every industry and is particularly well suited for freelance work.
The best copywriters can earn significant sums by negotiating to be paid a percentage of the sales that their copy generates so it can be very profitable indeed if you’re successful.
Perhaps you’d prefer to strike it out on your own rather than put your skills to use for someone else? In that case you’ll need to develop entrepreneurial skills. They’re tough to define because they cover everything from interpersonal skills to leadership and management skills, marketing skills and more.
Entrepreneurship combines creativity, innovation and taking risks. It’s about turning ideas into reality and building new business opportunities. And there are plenty of resources available for the entrepreneurial-minded person to hone their abilities. Look for training in business management and entrepreneurial advice from other successful innovators. There’s a high risk in
7. Digital Marketing
Digital marketing refers to advertising delivered through digital channels such as search engines, apps, social media and email. Even if you’re not a marketing professional you’ll know these channels are becoming the most important way to market products and services. And traditional media based marketing continues to fall out of favor.
Digital marketing is therefore a smart choice to develop as a high income skill. It also has plenty of niche areas to specialize in such as content marketing, social media marketing and online advertising.
8. Audio Engineering
We’ve already discussed video production, but audio production is also in high demand. The podcast business is booming and the big players in the corporate world want in on the action. Then there are the traditional sectors for audio engineers such as radio and the music business.
You might be thinking radio is a dying form of media, but it’s not. In fact, radio has actually increased in popularity due to the COVID-19 pandemic. So demand for audio engineering professionals in the radio business is set to stay strong.