Data has been Gathered from BLS. Original post –
Home Health Aide / Personal Care
Data shows that home health aides and personal care aides are 2 professions that will grow 36% or so next year. 3,253,000 jobs will be available for these professionals,. But the devil is in details. This job will pay about $25KK a year and you would need to get a high school diploma which is usually for 2 years and, in a public school (university), the cost might be around $8K
ROI = LOW (BUT Stable)
You would have to invest $8K to get a diploma and that would get you a job that pays $25K per annum. You could get benefits on top of this salary but at the rate which this is growing, you would definitely have a job.
Solar Photovoltaic Installers
Another fast-growing occupation as per BLS is solar photovoltaic installers. There could be about 9,700 jobs (not as many as compared to the above as this is a growing niche, and to be qualified you would also need a high school diploma) and the salary could be $43K so for the same investment, you could earn double the salary if you are mechanical or trade savvy.
ROI = HIGH (Growing and could be a good Career Path)
Another similar job is Wind Turbine Technicians
The Highest ROI is software developers and information systems analysts. Salary is around $100K requiring a Bachelor’s Degree which could cost you $30K at a public school (university). Growth for software developers is around 26% but the jobs are in the millions.
ROI – HIGH (Low Risk, High Reward, but it could be a bit difficult from studies per se)
Physical Therapy Assistants
Finally, physical therapy assistants and medical assistants are also in the list. They require an associate degree. There are 150,000 job openings for physical therapy assistants and about 65,000 jobs available for medical assistants. Physical therapy assistants get paid a lot more, around $58K while medical assistants get paid about $35K.
ROI – Good. (Low Risk, stable, Faster job)
Specialty teachers require a Doctoral degree. This would require more investment when you consider the cost of a Bachelor’s degree plus Master’s plus PHD. This adds up to quite a bit. But the salary is $100K.
It would take longer but possibly might get long term benefits,. but in the short run it looks like you will be paying off quite a bit of the loan.
ROI – Low (High in long term)
Abhijeet Narvekar – Abhi has his Masters in Industrial Engineering & Management. He has 20 years of experience in Leadership roles and currently is the CEO of The FerVID Group and Co-Founder of CareerUnleashed