Jobs

20 Best Jobs That Pay Over 500k a Year & Tips to Help

Brian Aird

October 12, 2022

There are certainly jobs that pay over $500k a year!

Yes, that’s half a million dollars every single year!

This article reveals up to 20 of such jobs that you can earn $500,000 from and some tips to help you.

Importance

Does the shirt or blouse that you wear to work have a collar?

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If so, what color is it?

Not the same color as that blouse or shirt but a color that represents your line of work and the income that you earn.

For example, there are:

White Collar – desk jobs
Blue collar – skilled labor jobs
Gray collar – aged Workforce
Pink collar – done mainly by women
Chrome collar – technology jobs

Another important color that is perhaps the most beneficial as it relates to money earned is the gold collar.

As one can deduce from this color it represents individuals who are highly skilled and top-tier professionals.

Their color represents a significant amount of money that is earned over the course of a year.

Let us switch out colors for a moment, attach a gold color and look at professionals that wear this glistening collar as they go to work.

20 Best Jobs that Pay Over $500,000 a Year

1. Consultant

A consultant is an individual that is able to go into a place of business, observe all of the processes taking place, listen to what is being said and not said, analyze the relationships in the business (leaders and team members) and make recommendations to enhance the activities of the business.

The consultant is experienced and educated and when invited in goes to work to begin the analysis.

Many companies will pay significant dollars for this to occur.

If the working environment or the processes or the leadership can be modified it possibly can be translated into profitability and profitability is worth something to the company and they will pay the consultant accordingly.

2. Venture Capitalist Partner

A venture capitalist partner is an investor that provides investment dollars for startup companies.

The payoff or the investment is realized when the money is provided and the partner will then own a portion of the company and receive a specific percentage of the annual income.

This can be a lucrative process especially when millions of dollars are invested in a startup company that may prove to be successful.

3. Plastic Surgeon

A plastic surgeon is a doctor that specializes in the cosmetic process of restoring an individual’s outward features or making adjustments to turn back the hands of the aging clock.

This can be a highly profitable business as many individuals, especially those who depend upon their appearance to be successful, will pay significant dollars for a quality plastic surgery process.

This can benefit the plastic surgeon if they can obtain a number of affluent customers and the work of the plastic surgeon is on display for others to see.

4. Actor

Many think that an actor or actress just happens to be in the right spot at the right time and are discovered to be involved in a successful acting career.

This may happen occasionally but to be an actor requires a basic skill or talent and then develop this talent by going on to some sort of acting school or art academy to improve their acting craft.

An actor or actress then needs to be aggressive, often through a manager, to endeavor to obtain various parts on the big screen or on television.

The money comes into realization as the particular movie or show becomes a “hit” and they are paid by advertising dollars.

Another way to realize significant dollars by being an actor is if the particular show that is aired on TV goes into syndication.

5. 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 an eye-popping $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.

6. Entrepreneur

An entrepreneur starts a business through risk-taking and putting their business ideas into practice.

An entrepreneur can earn significant dollars when they sell their successful business and earn a profit and then start the process again.

Also See: Best Jobs That Pay Over $300,000 a Year.

7. 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 $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.

8. Football Coaches

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.

9. CEO

The role and position of a CEO or a Chief Executive Officer are that 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 success have been realized.

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

10. Writer

If you have a writing skill coupled with a creative imagination, then the possibility of an occupation that can earn you $500,000 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.

17. 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 business degree but have interpersonal skills and experience that demonstrate your success in working with other companies as a consultant.

The business that looks to consultants to increase business processes and profitability includes areas of technology, human resources, sales, etc.

11. Entertainers

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

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 number of good breaks.

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 with the opportunity for the show to be syndicated.

12. Banker

Although the average banker does not make a seven-figure salary annually, it is possible in certain instances for this $500,000 to be your annual salary.

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

The combination of where and who you work for coupled with any potential bonuses could easily help you to surpass that $500,000 goal.

13. Partner – Private Equity

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

Again, this company has paid $25+ million to members:

The perks involved with being a general partner with private equity are that 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 $500,000 can be achieved after the individual has been involved in this career with five years of experience.

14. 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 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 one half of a million dollar mark is a strong possibility.

15. 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 million 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

16. Doctor

Another profession that has the potential of earning an annual salary of $500,000 is in 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 in or supporting a startup that has the potential for 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 $500,000 annually is not outside the realm of possibility.

18. Athlete

Being an athlete and participating in professional sports can be a significant way of earning considerable amounts of money a year.

An athlete is generally offered a contract by a professional team based on their skill set and the need of the team for what that athlete can bring.

Added to the contract, are various bonuses or incentives if an individual achieves certain levels of play.

For example, a quarterback may receive a monetary incentive if:

They have a certain passer rating average
Make the playoffs
Touchdown passes
And so forth

Also for an athlete that distinguishes their play on the field, there can be advertisement endorsements, clothing contracts, etc. to add to their annual salary.

19. Private Equity Partners

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.

20. Author

Being an author can definitely be a big money earner, especially if or when you have books that become best sellers.

In fact, authors can even make millions every year from the sale of their books and the best part is that this can even be passive income.

And the more authors write, the more money they can make.

Check out the following Job related articles for more ideas on high paying jobs:

Tips to Help You Get Such Jobs

1. Have a Purpose

For those who wish to earn $500,000 or more or for those who do earn this kind of money one of the motivating factors was or is their purpose.

Some of the reasons or the purposes of an individual wishing to earn $500,000 or more can include wanting to

Live an affluent lifestyle
Earn prestige
Enjoy the power that comes with having an abundance of money
To be able to help others with that wealth
Etc.

2. Sacrifice

When it comes to earning this type of money on an annual basis it takes considerable hard work.

Earning half a million dollars a year does not come easily.

Consequently, there is a lot of sacrifice on the part of the individual who is driven to obtain this kind of salary annually.

That sacrifice is in their own monetary investment, a sacrifice of time away from loved ones, etc.

3. Get the Right Education

Coupled with hard work and sacrifice are the education and resulting experience that is needed to command this kind of salary.

In order to be paid this sort of money, there needs to be something of greater value that is provided so that there is a return on the investment.

Often individuals that earn this kind of money are highly educated and are able to leverage that education coupled with their experience to position themselves in the salary range.

4. Have the Right Skills

Another important factor that combines together so that an individual can earn $500,000 a year is their skill set.

For example, a well-paid athlete will have a natural skill set but they have practiced and practiced to perfect that skill set.

5. Residency

Another important component to earning close to half a million dollars or more a year is the geographical area in which you reside.

It is not impossible to earn $500,000 while living in the countryside or in a small town.

However, it is more likely that one’s opportunities of earning more money by living in an urban area will increase their chances.

6. Be Aggressive

One other personality trait that is most likely needed to earn $500,000 or more a year is for individual to be aggressive.

Being aggressive means that they put themselves out there, take risks, position themselves for success, etc.

Personal Story

Working within the not-for-profit sector I had the opportunity to be involved with a number of individuals who would give to our charity and who represented a variety of income levels.

Of course, we were always appreciative of any donation that we received be it at a small amount of a dollar or less on up to five or six figures.

What was always moving, time after time were those individuals who would give a modest amount of money but it seemed to be such a sacrifice for them based on how they came across financially.

I always felt like sharing with them that they should keep their money and use it for themselves.

However, to have refused their money would have caused them to miss out on the blessing of giving rather than receiving.

The most rewarding donations were from those individuals who couldn’t afford it and gave out of their meagerness rather than their abundance.

Jobs Paying Over 500k Yearly FAQs

What is the Tax Bracket for an Individual Who Earns $500,000 Per Year?

The tax bracket for an individual that earns $500,000 per year is 35% as a single filer.

What Do People Do With $5000 Per Year.

Typically individuals enjoy their earnings by living an appropriate live style that matches their personality and philosophy of spending money.

They may:

Driving expensive cars
Living in expensive homes
Enjoy vacations
Invest their money

Whereas Warren Buffet drives a old car, eats at modest restaurants, and lives a average type of lifestyle.

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 $500,000.

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 significant salary may be achieved by many and certainly is in the realm of achievement.

Again, this company has paid $25+ million to members: