18 Best Jobs That Pay Over $1 Million a Year & Tips to Help You

Yes, there are jobs that pay over a million dollars a year and you can get your hands on one of such jobs.

Thankfully reading this article shows as many as 18 such jobs that really do pay over a million dollars yearly and tips to help you.

 

Importance

Would you like to earn a million dollars?

Your logical response would probably be absolutely but immediately after your response would be what do I need to do?

You then would be told that in order to earn $1,000,000 just continue to do what you are doing.

In fact, if you followed that advice you would have close to $3,000,000.

It is at that point you may lose interest in the possibility of earning $1,000,000 but the reality is, according to World Data, the average yearly salary of an American is $74,738.

If you multiply that figure times the number of possible years worked (40) the calculations come out to $2,989.520.

Now, if you were to earn $83,333.55 a month that would be a different story.

The calculations of earning that monthly wage would put you at an annual salary of $1,000,000.

However, the average wage earner would most likely lose hope and possibly mutter the question “who earns that kind of money?”

The reality is that there are occupations that do and so we will look at the payroll stubs of some of those employment positions.

 

18 Best Jobs that Pay Over 1 Million a Year

 

1. Professional Athlete

One of the highly lucrative employment positions that earn significant annual dollars is in the world of the professional athlete.

Those athletes can compete in sporting events such as:

• Baseball
• Basketball
• Hockey
• Tennis
• And so forth

To be a player requires that you have natural athletic skills and that you build on those skills to become a quality and professional athlete.

In addition to money earned through payment by the owners of the teams, athletes can also earn money through endorsements and when achieving certain levels of performance and being paid bonuses.

 

2. Investment Banker

An investment banker is an individual who is employed by a financial institution and who provides sound financial advice to other individuals and companies about investment strategies.

The investment strategies could include the purchasing of stocks, bonds, etc.

An investment banker is not only paid an annual salary but also the possibility of receiving bonuses, and commissions and being part of any profit-sharing.

An investment banker may earn $100,000 on bonuses alone.

An investment banker will have an educational background of at least a bachelor’s degree and, preferably, have earned a master’s degree in sales and finance.

 

3. Entrepreneur

An entrepreneur will start a business and takes a risk in putting their business ideas into practice.

An entrepreneur when successful will then sell the business at a profit and then repeat the process.

 

4. Lawyer

As a law firm partner, it is well within your financial reach to achieve a six-figure annual salary.

However, an added dimension of being a lawyer would be to realize the position of partnership within a law firm.

Achieving this level of success would bring you to a higher level and close to that $1 million a year.

Being a lawyer takes a special type of person and requires significant dedication and hard work in order to achieve the partnership level.

 

5. Football Coach

A high-paying position in the sports world apart from actually playing the game is by providing leadership as a coach within a particular sports venue.

The annual salary of coaches in professional league sports is well over $1 million a year.

The requirements to be a successful sporting coach could include actually having played the game at one time, having an understanding of team dynamics, providing quality leadership, being inspirational, etc.

 

6. CEO

The role and position of a CEO or a Chief Executive Officer are these individuals provide direction, leadership, experience, etc. to possibly turn a company around towards profitability or head into a new business direction.

Through their leadership and experience, the successful actions taken by CEOs can translate into new energy in the company and an increase in profits which all translate into making shareholders and team members happy.

A CEO can command a quality salary plus there may be incentives and bonuses when certain levels or achievements of his or her success has been realized.

The CEO requires at a minimum a degree in business, or economics plus a master’s in that particular acumen as well.

Also See: Sources for Jobs Paying More Than 500k a Year & Jobs Paying Over 300k a Year.

 

7. Writer

If you have a writing skill coupled with a creative imagination then the possibility of an occupation that can earn you $1 million a year is by being a writer.

A writer will create a narrative that may possibly resonate with a reading audience and revenue will be realized through lucrative contracts from publishers.

Also, the contract may call for a portion of the book sales to be provided to you as a writer plus any speaking engagements that you may be able to participate in.

Also, a strong possibility is if that the book is a best seller it can be turned into further profit by

becoming a movie.

 

8. Consulting

As a consultant, your expertise can be in great demand due to the reality that your experience and advice can increase the profits of a business.

To be a consultant that is successful you will not only need a degree in interpersonal skills but an experience that demonstrates your success in working with other companies as a consultant.

The fields of demand look to consultants to increase the business processes and profitability including areas of technology, human resources, sales, etc.

 

9. Entertainer

Two of the most popular outlets for the general public today include entertainment and sports.

Therefore, by being a successful entertainment artist you can command a significant salary on a yearly basis.

An entertainer can be an individual who is involved with television, movies, doing daily shows at various venues, etc.

To be an entertainer requires a skill set and artistic talent and ability, perhaps attending acting school, and a significant amount of good breaks overlook.

Often an entertainer with a successful show will be in great demand, will continually get offers for various roles, and if on television, may be provided the opportunity for the show to be syndicated.

 

 

10. Banker

Although the average banker does not make a seven-figure salary annually, it is possible in certain instances for this one-million-dollar annual salary to be achieved.

With the combination of living in a certain geographical area (New York, San Francisco, etc.) plus being employed by a major financial institution (open Sachs, Morgan Stanley, etc.) you could make a one-million-dollar annual salary.

The combination of where and who you work for coupled with any potential bonuses could easily help you to surpass that one-million-dollar annual salary each year.

 

11. Screenwriter 

A screenwriter is an individual with an artistic talent for writing scripts that are used by Hollywood or movie production studios.

In addition, a quality screenwriter can earn half $1 million for rewriters or provide touchups as it relates to the script that is already written.

 

12. Partner – Private Equity

The salaried position of a general partner involved with private equity is a quality career move for investment bankers.

The perks involved with being a general partner with private are the hours are significantly better and the pay is robust.

A general equity general partner with private equity can earn their base salary along with a variety of bonuses depending upon their success.

An average salary of $1 million can be achieved after the individual has been involved in this career with five years of experience.

 

13. Portfolio Manager – Hedge Fund

A hedge fund manager is an individual that is employed with a financial company that manages the portfolio of investors to obtain a good return on their financial portfolio.

A hedge fund is a financial investment fund that is and consists of liquid assets.

This allows for the creation of portfolios, involvement in complex trading, utilizing risk management techniques, and utilizing investment options such as short selling, derivatives, leverage, etc.

A financial hedge fund manager can anticipate earning anywhere from $300-$500,000 during their first year of employment and then based on the number of employees with the financial firm, the success of their investment strategies, etc. the possibilities of significantly moving towards that 1 million digital dollar mark is a strong possibility.

 

14. Real Estate

In the world of real estate, there are a variety of ways in which your salary can be can attain a level of hovering around $1 billion a year.

The various ways that real estate pays dividends are through:

• Direct ownership
• Real estate investing
• Fixing and flipping properties
• Being part of a national syndicator
• And so forth

 

15. Doctor 

Another profession that has the potential of earning an annual salary of $1 million is the area of medicine and specifically doctor.

In order to achieve this level of income, the doctor would need to be involved in private practice or involved with partners in private practice.

Also, an important part of a doctor achieving this level of income would be the area in which they practice their specialty.

Also, there are aspects of the medical profession that can command a higher salary.

Specifically, one of those areas of medicine in which a doctor can maximize their earnings is the area of plastic surgery, which has a clientele base that is affluent.

 

17. Venture Capital Partners

The venture capital process involves the buying and selling of investments or businesses.

A venture capitalist focuses on investing or supporting a startup portfolio Manager.  

That has potential long-range income possibilities.

The fee assessed by venture capitalists can range anywhere from 25 to 30% of profits that are invested in a startup business.

Consequently, as a partner in a venture capitalist firm, the possibility of making a $1 million salary is not outside the realm of possibility.

 

17. Managing Director

Managing directors have the career responsibility for obtaining money through negotiation of winning deals.

Typically a managing director is involved with meeting face-to-face with clients.

The process of getting to the point of obtaining a $1 million salary per year is a process of promotions based upon performance and going through the upper echelon of managerial positions.

 

18. Private Equity Partner

Private equity partners are also involved with investing and have come through a career path in consulting and investment banking.

Private equity is investing but at a significantly higher level that involves billions of dollars from people and corporations that have that money to invest.

Typically a process could include the purchase of a company at a reduced price, investing in the company which raises their indebtedness but also the revenue, and then turning around and selling the company at a significantly higher profit.

A private equity partner will typically charge 2% as part of their management fee which can earn them a significant salary.

 

8 Tips to Help You Get Jobs Paying 1 Million a Year

 

1. Ask the Question – Why

One of the key questions as to why we do anything in life is to answer the question of why.

Why is it that you want to achieve $1 million a year or what is driving you towards achieving that goal?

It is important to answer this question so as to help you understand what is your motivation and your goal in trying to achieve this amount of money per year.

Possible reasons could include:

• Wanting to live a certain level of lifestyle
• Prestige
• Helping others
• And so forth

 

2. Select

Once you have determined what is your motivation to earn this type of money on a yearly basis it is important to do your research and select the occupation or employment position that will facilitate this goal.

In doing your research it is important that you understand what are all of the requirements to be successful, what it takes, and whether you have the skill set, drive, and determination, to see this entire process through.

 

3. Count the Cost

As part of the process of earning a million dollars annually, it is important to be reminded that anything worthwhile and meaningful to achieve is going to require some element of sacrifice.

Therefore, when thinking about working in an occupation that earns $1 million a year you count the cost.

There will be:

• Sacrifices
• Investment of time
• Relationship disruption
• Investment of dollars
• Possibility of added stress
• And so forth

 

4. Education

Another important component towards the achievement of this type of salary on an annual basis is to understand what the educational requirements will be.

In many instances, a college degree with perhaps advanced educational training will be required in order to command this type of salary.

The reality of earning a salary is the expectation that that type of money is a return on the investment of the company or your employer.

Therefore, a significant investment of your time, energy, and money will be needed as it relates to education.

Often, the reality of economics is that you have to spend money to make money.

 

5. Skills

When focusing on the various occupations that possibly pay a $1 million annual salary it is important to evaluate yourself and your skills as it relates to these positions.

In other words, you need to be realistic as to what you can and cannot do.

For example, if you wish to be an anesthesiologist but can’t stand the sight of blood or being around sick people then perhaps that particular career path needs to be reevaluated.

 

6. Build a Better Mousetrap

One of the best ways to earn significant money, perhaps a $1 million salary a year, is to provide a product that addresses a problem or a situation that is experienced by a majority of people.

This product that you produce or invent can be manufactured and sold to individuals as a must-have item for this common challenge that is being faced.

If you do the math on this strategy and produce a product that can be sold for $20 and you sell 50,000 of those items you will have made $1 million.

 

7. Be Aggressive

The other important factor in achieving your goal of earning this type of annual salary is to be aggressive.

Once you have taken everything into consideration and have planned out a path to success then it is important to work on that plan and be aggressive in its achievement.

 

8. Place of Residency

A major contributing factor as it relates to earning $1 million or more a year as your salary is geography.

Specifically, where you live is a significant component of the $1 million salary.

For example, in order to achieve that level of financial success, you would need to live in a geographical area or market that can bear that type of salary.

Examples of those types of location markets could include:

• New York
• Silicon Valley
• Boston
• Miami
• Los Angeles
• Washington C.

 

Personal Story

I have never earned a million dollars a year but the closest that I could come to think about how that would feel is through an experience where the term “I feel like a million bucks” comes to mind.

I had been without a job for 4 months, to make ends meet my wife had to take on a job, and I felt like a failure.

Out of the clear blue, I received an email from an individual that I knew from my previous job asking if I was still looking for work.

I told him that I was and within a month after that initial email, I found myself in West Texas sitting in his office and hammering out the details of a 6 months consulting contract.

I had a job doing something that I loved, back in my hometown, and my wife would not have to work if she didn’t want to.

I was on top of the world and I felt great.

In fact, I felt like a million bucks.

 

Best Jobs Paying 1 Million Dollars Year FAQs

 

What Percentage of the American Population Earns $1 Million a Year?

The actual percentage of Americans making over $1 million a year is .1% of the population. This according to Financial Samurai.

 

What Profession Has the Most Millionaires?

Answer The professions that have the most millionaires include:

• Those in the entertainment business
• Teachers
• Entrepreneurs
• Lawyers
• Drs.
• Software entrepreneurs
• Movie actors
• Sports

 

You Can Do It

Your career goal is to be involved with a dynamic and exciting occupation that matches your skills, talents, etc.

In addition to your focus on your vocation that will challenge and excite you is a salary to match what you believe your skill set, experience, and education will bring.

With a clear strategy and plan of action, you are well on your way to earning that first million dollars.

 

Conclusion

If you’re going to dream, you might as well dream big and have complete confidence in yourself as it relates to your earning potential.

There are a variety of occupations that can help you to achieve your financial goal of obtaining a significant annual salary.

With a proper attitude, following a strategy of marching towards that goal, possible relocation, and a few “lucky” breaks along the way, a $1 million salary may be achieved by many and certainly is in the realm of achievement.