Jobs That Pay Over 500k a Year


500000 dollars

Have you ever thought of finding a job that can fetch you a cool $500k annual paycheck? In fact, is that even possible without venturing into entrepreneurship? Of course, it is! Earning $500k is a huge possibility, provided you have the work that can bring in such a huge amount of money. But, wait a minute. What sort of job can pay an individual over $500k annually?

There are a few jobs that pay over $500k annually, these jobs include: doctors, athletes, software developers and Investment bankers.

Based on statistics by the Bureau of Labor, the average salary for a worker in the U.S is in the region of $49k per year. If you factor in the cost of paying a few bills, there wouldn’t be much left. $500k is a huge amount of money to earn annually, and the path to making such an amount of money is paved with long years of determination, hard work, connection, and perseverance. Below I have highlighted a few jobs that can help you earn $500k upwards annually.

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Jobs That Pay Over 500k a Year:

At a time the world is recovering from the effects of the novel coronavirus, it would surprise you to find out that some earn in the region of half a million dollars and upwards annually. Who are these people? Well, I can’t tell you that (you know some of them). However, I can tell you the jobs they do.

Here are a few jobs that pay over $500k annually:

  1. Doctor:

If you are a fresh med school graduate, you’ll have to wait for a while to earn $500k yearly. But, such a feat is possible. This doesn’t mean that doctors are underpaid in the U.S. (a big no). According to Nomad health on Medium, the mean salary of a doctor in the U.S is around $294k per year, which isn’t bad. But, that is not all. Here is where it gets interesting.

You see, a Neurosurgeon, on average, earns over $600k annually, the same with a thoracic surgeon and some other specialties like orthopedic surgery. These doctors can earn more than I mentioned, depending on their employer’s professionalism and value.

If you are thinking of embracing this field because of the passion or mouth-watering salary, you should understand that it takes around eight years of studying to become a professional in a field like neurosurgery, which remains one of the highest paying niches in the medical sphere.

  1. Software Developers:

We live in the digital age, an age where most of our activities are linked to the internet one way or another. You make an online payment via the internet, read articles (like this) via the internet, and perform other daily activities with the help of the internet and software.

The people who create the software you use daily and ensure that they operate smoothly are called the software developers, engineers, and programmers. From Netflix to Google to Amazon, these companies leverage the services of several tech geniuses to ensure smooth operations.

Of course, the software development realm is very technical, thus demands a high level of skill, commitment, and talent to work in the companies I mentioned. An entry level developer can earn around $60-$90k as an average salary. However, a senior software developer earns more than that. This is mainly based on the experience level and work background.

To earn $500k as a software developer, you’ll have to work at a top tech company, like Google, where they pay their L6 level developer in cash and stocks, which amount to over $500k.

  1. Professional Athletes:

It is no secret that sportspeople are deemed one of the biggest earners in the world. Soccer players are paid weekly, including bonuses; this sometimes adds up to over $500k monthly, and over $5m per year.

With its predominance in the world and the fact that it remains one of the most-watched sports globally, you expect a professional player to earn more in the coming years. Mind you, those plying their trade in other sports industries earn huge amounts of money.

Aside from their typical salary, most basketball players earn from sponsorships from corporate brands and companies. This influx of huge revenue, the sales of merchandise, and the popularity of its players have put the NBA on the list of the most lucrative sport worldwide. Based on statistics by sportcasting.com, a novice basketballer in the NBA rakes in around $800k, while big names like LeBron James, Steph Curry, and co take home millions of dollars annually.

  1. Investment Banking:

Investment bankers remain one of the hardest workers in the financial realm (funny enough, they often don’t get much credit). These professionals work long and pretty hard on financial models, and transactions in a very volatile marketplace. Starting at anything close to $100k annually, that figure rises slowly as the banker move up the ranks.

To earn over $500k a year as an investment banker, you would have to make a partner or hold a lucrative position in a big investment company; that is where and when your earning increases, including bonuses from successfully closed deals and allowances.

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How Many People Make Over $500k per Year?

There is the stat that lots of people earn over $500k per year. But how many people are we talking about here? Well, it is said that 6% of workers, or around 10, 535 29 people In the U.S., made $500k or more in income in 2020.

Is $500k a Year Considered Rich?

Do you want to know if earning $500k annually makes you rich? Well, the answer is a big yes. Why? Because according to the Internal Revenue Service, any household that makes more than $470,000 annually in 2021 is deemed a top 1% income earner.

So if you rake in $500k this year, you ought to be proud of yourself. However, if you don’t, you should make it a priority next year and work harder.

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