The UK is a great place to do business. There are many amazing industries offering hard-working people career satisfaction and the opportunity to make some serious money. But what are some of the highest paid jobs in the UK? And how easy is it to enter those fields?
In this article, we will look at 12 of the most lucrative careers in the country and tell you what they involve, how much they earn and the pros and cons of each job.
1. Chief Executive
Chief Executives are at the top of most organisations and are responsible for making sure the company is profitable. They typically earn between £100,000 and £200,000 per year.
To become a Chief Executive, you will usually need to have many years of experience in a senior management position. You will also need to have excellent people skills and be able to make difficult decisions.
The major advantages of being a Chief Executive include the high salary, the challenge and the opportunity to make a difference in an organisation with the main downsides being a lot of stress and very long hours.
Being a doctor is one of the most highly respected professions in the world. In the UK, doctors earn an average of £50,000 per year but have the potential to earn much more if they work in private practice or become a specialist.
To become a doctor in the UK, you will need to complete a medical degree which takes five to six years. You will then need to complete two years of foundation training followed by three or more years of speciality training.
The pros of being a doctor include the high salary, the satisfaction of helping people and the opportunity to save lives. The main downside is the long hours and the amount of study required to become a doctor. For NHS doctors, there is the added pressure of targets and budget cuts which mean doctors often end up working far more hours than they are contracted or paid for.
Judges are responsible for presiding over legal cases and ensuring that the law is followed. This is obviously a very important job so they typically earn between £100,000 and £200,000 per year depending on their experience.
To become a judge, you will need to be a qualified lawyer. You will then need to have at least ten years of experience as a barrister or solicitor. Once you have been appointed as a judge, you will undergo training on how to preside over cases.
The main advantages of being a judge include the high salary, the prestige and the opportunity to make a difference in people’s lives. The main downside is the pressure of the job, the long hours and the mental and emotional strain of dealing with difficult cases. High-profile judges also have to deal with the possibility of making unpopular decisions which can lead to public criticism.
There are many different types of lawyers and their earning potential depends on a number of factors such as their area of speciality, their experience and the size of the firm they work for.
To become a lawyer in the UK, you will need to complete a law degree which takes three years and then complete the Legal Practice Course which takes a further year. Once you have completed your training, you will need to find a job with a law firm or an organisation that deals with legal matters
The most common type of lawyer is a solicitor. To become a solicitor, you will need to complete a law degree and then do a two-year training contract with a law firm. Once you have qualified as a solicitor, you can expect to earn an average of £40,000 per year.
If you want to become a barrister, you will need to pass the Bar. This is a one-year postgraduate course which is followed by a period of pupillage. Once you have qualified as a barrister, you can expect to earn an average of £60,000 per year.
Major companies and important individuals often have lawyers on retainer who are paid a fixed amount per year to be on call when they are needed. There is no ceiling to what these lawyers can earn with the most sought after making millions a year.
The advantages of being a lawyer include the salary, the status and the opportunity to help people. The main downsides are the long hours, the pressure and the amount of paperwork. As with judges, high profile lawyers may also be on the wrong side of public opinion, particularly if they are representing unpopular clients.
5. Risk Manager
Risk Managers are responsible for identifying and assessing risks to an organisation. They typically work in banks, insurance companies or other financial institutions and earn an average of £50,000 per year.
To become a Risk Manager, you will need a degree in risk management, economics or finance. You will also need experience working in a more junior risk management role to gain the skills and knowledge necessary for the job.
The pros of being a Risk Manager include the salary, the challenge of the job and the opportunity to make a difference in an organisation. The main downsides are the hours, intensity and a large amount of responsibility because the decisions you make can have a big impact on the organisation.
Risk Managers also need to be able to deal with stress and pressure as they often have to work under tight deadlines with huge amounts of money potentially on the line.
6. Marketing Expert
Marketing experts are responsible for creating and implementing marketing campaigns. They typically work in advertising agencies, PR firms or large organisations and earn an average of £40,000 per year. The most successful marketing experts are highly sought after and are able to charge high rates for their services either as a member of an agency or as a freelancer.
To become a marketing expert, you will usually need a degree in marketing or a related field such as business or communications. You will also need experience working in marketing, either in an agency or in-house. Many of the most successful marketing experts have completed postgraduate qualifications in marketing or have an MBA.
There is no guarantee of making it in the marketing industry as it is highly competitive and it sometimes comes down to who you know rather than what you know. However, if you are able to make a name for yourself, the rewards can be significant.
The main advantages of being a marketing expert include the salary, the creative freedom and the opportunity to work on interesting projects. The main downside is the long hours, the pressure and the uncertainty of freelance work.
7. University Professor
University professors typically earn between £30,000 and £50,000 per year but the most successful professors are often able to command high salaries due to their experience and expertise. These professors usually work in the most prestigious British universities or have international positions.
To become a university professor, you will usually need to complete a PhD in your chosen field. You will also need to have several years of experience working as a researcher or lecturer. Once you have been appointed as a professor, you can expect to spend most of your time teaching and conducting research.
The main advantages of being a university professor include the salary, the opportunity to conduct research and the possibility of tenure. The main downside is the amount of paperwork and the pressure to publish your research.
8. Commercial Pilot
Commercial pilots typically earn between £40,000 and £60,000 per year but the most experienced pilots can earn much more than this as it is a highly competitive industry. British Airways and other major airlines compete for the best pilots and often offer salaries of over £100,000 per year to attract them.
To become a commercial pilot, you will need to have a Private Pilot’s Licence which requires at least 45 hours of flight time. You will also need to have a Commercial Pilot’s Licence which requires at least 250 hours of flight time. Once you have qualified as a commercial pilot, you can apply for jobs with airlines or private companies.
The main advantages of being a commercial pilot include the salary, the opportunity to travel and the lifestyle. The main downside is the long hours, the danger and the responsibility.
Pilots are also able to work as flight instructors which can be a more relaxed and less demanding job. Flight instructors typically earn between £20,000 and £30,000 per year and many former pilots do it part-time after retirement.
As with other medical practitioners, a dentist’s earning potential depends a lot on whether they work in the public or private sector. Dentists working in the NHS can expect to earn between £30,000 and £50,000 on average per year while those working in private practices can earn much more than this. In fact, the most successful dentists and those with their own surgeries are often able to command salaries well in excess of £100,000 per year.
To become a dentist, you will need to complete a five-year degree in dental surgery. You will also need to be registered with the General Dental Council. Once you have qualified, you can either work in the NHS or set up your own private practice.
The main advantages of being a dentist include the salary, the status and the possibility of owning your own practice. The main downside is the long hours and the pressure of being responsible for people’s teeth.
10. Website Developer
A career in website development can be very rewarding both financially and in terms of job satisfaction. Website developers typically earn between £30,000 and £50,000 per year but the most experienced developers can earn far more, particularly if they work for a large company or have their own consultancy.
To become a website developer, you will need to have a good understanding of computer programming and web design. You will also need to be familiar with the latest software development tools. Once you have qualified, you can apply for jobs with companies that develop websites or go it alone.
The main advantages of being a website developer include the salary, the opportunity to work from home and the possibility of setting your own hours. The main downside is the need to keep up with new technology and the pressure of meeting deadlines.
11. Investment Banker
Investment bankers typically earn very high salaries, often in excess of £100,000 per year. They also tend to have very demanding jobs which often involve working long hours during which they are responsible for huge amounts of money.
To become an investment banker, you will need to have a degree in economics or finance. You will also need to have some experience working in the financial industry as a stockbroker or in a similar role. Once you have qualified, you can apply for jobs with investment banks or other financial institutions.
The main advantages of being an investment banker include the salary, the status and the possibility of working in different countries. The main downside is the long hours, the pressure and the risk of losing your job if there is a financial crash.
12. Cosmetic Surgeon
Cosmetic surgery is a very lucrative industry because people are often willing to pay large sums of money to improve their appearance. Cosmetic surgeons typically earn between £50,000 and £100,000 per year but the most successful surgeons can earn much more than this, particularly if they become famous or cater for the rich and famous.
To become a cosmetic surgeon, you will need to have a degree in medicine or dentistry. You will also need to complete a specialisation in cosmetic surgery. Once you have qualified, you can set up your own practice or work for a clinic.
The main advantages of being a cosmetic surgeon include the salary, the status and the possibility of helping people to feel more confident. The main downsides are the long hours and the pressure of being responsible for people’s appearance.
So there you have it, our rundown of 12 of the highest paid jobs in the UK. One thing you will notice is that they all have one thing in common: long hours! But if you are willing to put in the hard work, then a career in one of these industries could be very rewarding indeed.