Now is not the time to stand still in your career journey. The business landscape is transforming itself in the face of new challenges. In the words of motivational speaker Brian Tracy, “In times of turbulence and rapid change, you must constantly be re-evaluating yourself relative to the new realities.”
Where do you fit into this evolving business environment? It’s impossible to predict with certainty what might happen in the future, but here are four professional career paths expected to grow at a fast pace over the next decade.
Health Services Administrator
As the U.S. population grows and ages, demand for healthcare services has skyrocketed. The Centers for Medicaid & Medicare Services, part of the U.S. Department of Health & Human Services, predicts Americans will spend $4.0 trillion on healthcare in 2020, an increase from $3.2 trillion in 2015. And there are no signs of slowing down: The centers predict $6.2 trillion in healthcare expenditures in 2028.
Experts predict this strong demand will drive a staggering increase in opportunities for healthcare workers like home health care aides, lab technicians and nurses. But it will also require tens of thousands of new professionals to manage the business and operational side of healthcare, helping ensure organizations can provide high-quality care.
The U.S. Bureau of Labor Statistics (BLS) predicts the healthcare industry will add 133,200 medical and health services managers from 2019 to 2029. That figure represents an increase of 32%, which means the career field is growing much faster than the average for all careers. The annual median pay for medical and health services managers in 2019 was $100,980.*
The BLS says that bachelor’s degrees are typically required to become a medical and health service manager, and that master’s degrees are common. Matthew Donlan, who earned an MBA with a specialization in Healthcare Management from Florida Tech, said, “In the healthcare field, experience does not speak as loud as credentials.”
Florida Tech offers associate, bachelor’s and master’s degrees in healthcare administration.
Information Security Analyst
Few things keep business leaders up at night as much as cybercrime. Accenture said in 2019 that computer-related crime is on the rise across the globe, and as much as $5.2 trillion in value is at stake over the next five years. Major computer breaches are highly publicized, which leads to negative publicity and a loss of public trust. Accenture also says companies victimized by cybercrime can also experience business disruption, theft of valuable information, loss of revenue and even equipment damage.
It’s the role of information security analysts to reduce the risk of cybercrime. To achieve this goal, professionals harden and monitor their organization’s information technology networks, investigating any possible breaches when they happen. They might also attempt to hack into their organizations’ own networks, looking to discover and fix vulnerabilities before cybercriminals find and exploit them.
The BLS expects the number of information security analysts to grow 31% from 2019 to 2029, much faster than the average for all career fields. The annual median pay for an information security analyst in 2019 was $99,730.
The BLS says entry-level information security analyst positions typically require a bachelor’s degree, and some employers prefer applicants with MBAs. Florida Tech’s information technology programs include:
Tejashiee Patil, who earned her MBA with a specialization in IT Management from Florida Tech, said she wanted to combine business knowledge with her existing IT skills. “I have completed my master’s in computers from India, and I started working for a manufacturing automobile company. Fortunately, I got the chance to work in the management field, and from there I got more interested in the management. It was my dream to get an MBA degree.”
Financial Managers
Today, companies need to make fast, timely and informed decisions to keep up with customers’ needs and stay one step ahead of the competition. Business leaders trust financial managers to provide the relevant, useful data critical for making those decisions.
Using a variety of analytical techniques, financial managers help companies:
- Determine which investment opportunities have the highest payoffs
- Design financial strategies that align with long-term growth goals
- Understand their current financial situation through detailed reporting
The BLS expects the job outlook for financial managers to grow 15% from 2019 to 2029, and the annual median pay in 2019 was $129,890.
Employers typically expect financial manager applicants to have a bachelor’s degree and several years of experience. Employers might also prefer to hire people with professional certification, such as a Chartered Financial Analyst (CFA) or Certified Public Accountant (CPA).
Florida Tech offers an MBA with a specialization in Finance, as well as an MBA with a specialization in Finance & Accounting.
Calvin Amos, who earned his MBA with a specialization in Finance from Florida Tech, said the master’s degree allowed him to learn not just about finance, but the role it plays in the operations of the entire organization. “I would say it exceeded my expectations,” he said.
*A note on all U.S. Bureau of Labor Statistics data cited in this article: Data is from the BLS Occupational Outlook Handbook (https://www.bls.gov/ooh), visited on the internet Oct. 19, 2020. National long-term projections may not reflect local and/or short-term economic or job conditions, and do not guarantee actual job growth. Degree program options do not guarantee career or salary outcomes. Information provided is not intended to represent a complete list of hiring companies or job titles, and program options do not guarantee career or salary outcomes. Students should conduct independent research for specific employment information.