High-earning careers for risk averse people?

[Anonymous]

What types of career paths would you recommend for a kid who is very intelligent, conscientious, gets good grades, but does not like the idea of taking risks or being overly competitive? My son is quiet, introverted, works hard, gets straight As and is very concerned about financial stability. He is planning to attend UMD next year, in-state and with some scholarships but still will take out some loans but will avoid massive debt. He's undecided but wants to plan a "safe" major. His interests gravitate toward the sciences and has considered medicine, but is put off by the idea of medical school debt. Going off the experience of his millennial cousins, he is extremely risk-averse and prioritizes financial security over everything and does not want to live the horror stories of graduating in huge debt and not having enough marketable skills and/or dealing with tough job markets subject to recessions. He is uninterested in anything like business and finance because he feels it is too risky and cutthroat. What types of careers provide the safest paths to the upper middle class, for people that just like to just focus deeply into their work without having to take too many risks or taking on too much debt for advanced degrees?

[Anonymous]

Accounting

[Anonymous]

Anonymous wrote:Accounting

This

[Anonymous]

There is a huge shortage of accountants. He could start out working for a firm and then eventually build his own firm.

[Anonymous]

If he’s genuinely interested in medicine join he military and have them pay for med school. “Retire” after 20 years with a pension and go into private practice.

[Anonymous]

Data science, computer science, tax.

[Anonymous]

Video production

He could start his own agency or work for the federal government.

[Anonymous]

What does your son consider high quality income? DH and I are both gs 15 lawyers, making $200,000 a year including bonus and have a pretty decent pension and lifetime healthcare if we retire from the government. Both DH and I worked at firms for a few years where we paid off our loans, but now many junior attorneys in our office qualify for public service loan forgiveness so no debt.

[Anonymous]

I would pick a career that is in demand. Accounting, nursing (if really likes science) or PA or physical therapist (less money and time than medicine), teaching (but more middle class).

[Anonymous]

Accounting or engineering.

[Anonymous]

Anonymous wrote:What types of career paths would you recommend for a kid who is very intelligent, conscientious, gets good grades, but does not like the idea of taking risks or being overly competitive? My son is quiet, introverted, works hard, gets straight As and is very concerned about financial stability. He is planning to attend UMD next year, in-state and with some scholarships but still will take out some loans but will avoid massive debt. He's undecided but wants to plan a "safe" major. His interests gravitate toward the sciences and has considered medicine, but is put off by the idea of medical school debt. Going off the experience of his millennial cousins, he is extremely risk-averse and prioritizes financial security over everything and does not want to live the horror stories of graduating in huge debt and not having enough marketable skills and/or dealing with tough job markets subject to recessions. He is uninterested in anything like business and finance because he feels it is too risky and cutthroat. What types of careers provide the safest paths to the upper middle class, for people that just like to just focus deeply into their work without having to take too many risks or taking on too much debt for advanced degrees?

If he doesn't like risk and competition, medicine is not for him. I teach med students, and med school and training are quite competitive environments. Medical education is also expensive, and not every specialty pays highly enough for a really good living on top of all those loans. Sure you can aim for a highly paid specialty, but if you don't have the test scores (all med students take boards -- they are called Step exams) you aren't going to place into a highly coveted training program in one of the higher paid specialties. Lots of them start out wanting to be surgeons, and most of them don't end up being able to apply for that match.

[Anonymous]

Data science, software development, coding type jobs. UMD is great for this.

[Anonymous]

Everyone saying data science and software engineering needs to look at the current market, demand is dipping partially due to oversupply. You will always here of the top students in these fields finding success, but if you are risk adverse you need to see where average and below average students (and early career workers) are getting jobs.

I would say government is really the only place to avoid risk. But you need to make sure you are okay with the pay or getting paid after your pension starts laying out in the private sector.

[Anonymous]

Anonymous wrote:Accounting

Accounting is one, also math/statistics, and comp sci. starting with classes in these areas allows pivoting to other fields as interest allows: data science, GIS, biochemistry, artificial intelligence, etc. Graduate CS work at UMD generally comes with lab work/stipends, so students are not taking on grad school debt.

[Anonymous]

Anonymous wrote:Accounting

My DH majored in accounting at VT because he didn't like the competitive environment with the engineering students. It's worked out well for him. He's now a tax atty (and so am I, that's how we met), but could have done just as well if he'd stayed at the accounting firm.