Average civil engineer salary: $84,770
Average mechanical or industrial engineer salary: $85,880
“We surveyed over 10,000 millionaires all across the country for the researching finding in my new book Everyday Millionaires: How Ordinary People Built Extraordinary Wealth—and How You Can Too,” says author Chris Hogan.
“The things that we found was that these were regular, everyday people working regular, everyday jobs.”
Hogan and his research team asked for the millionaires’ professions to learn more about how these people became net worth millionaires—which includes how much money they have when they factor in what they own minus what they owe.
“The number one profession amongst these millionaires was engineers,” says Hogan. “That doesn’t surprise me; they’re good at planning.”
It’s also among the 100 best jobs in this 2019 U.S. News and World Report Survey.
In this feature, we included median 2017 salaries from the US Bureau of Labor Statistics website but it’s important to have conversations with people in your profession and region, advises Vicki Salemi, career expert at US-based jobs platform Monster.
“Salaries for one position in a major metro area like New York City can be vastly different to another in a rural part of the country as well as levels comparing a new manager to a manager who has seven to ten years of experience,” she says.
You can also take into consideration competition for jobs.
Scoring your dream position or securing a juicy promotion can happen with the right strategies. We’ve asked career experts how to hone your job skills and forge alliances to keep your paycheque steady.
Average certified public accountant salary: $69,350
“The second most common profession amongst the millionaires we surveyed were accountants,” says Hogan.
“That doesn’t surprise me either because they’re good at counting.”
There’s a high potential for upward mobility in this career as well, according to the U.S. News and World Report survey.
The number one thing that millionaires across the country said contributed to their millionaire status was utilising company-sponsored retirement plans, says Hogan.
“You’ve got two best friends with your money: time and compound interest.”
When you think “millionaire”, what image comes to mind? For many of us, it’s a flashy 1980s entrepreneur who flies a private jet, and lives the kind of decadent lifestyle that most of us can only dream about.
But many modern millionaires live in middle-class neighbourhoods, go to work and shop in discount stores like the rest of us. What motivates them isn’t material possessions but the choices that money can bring.
Average high school teacher salary: $67,000
Average middle school teacher salary: $72,000
Average kindergarten and elementary teacher salary: $56,900
Average special education teacher salary: $61,000
Depending on your state, most teaching positions require a bachelor’s degree, though some require a master’s degree.
“Teachers were the third most common profession among our everyday millionaires surveyed,” says Hogan.
“That blew me away. This is a profession that I know is undervalued, [often] underpaid. So how did these teachers reach millionaire status when they retired? This shows that reaching millionaire status has nothing to do about your job, your income, or even where you went to school. It’s about having a plan for your money.”
Planning for your money takes, well, planning. Best start with an emergency fund. Here’s how much you should be saving and how to get started.