RSS

Best Jobs:

17 Jan

Just this past week, US News posted an article with their list of 25 best jobs for 2015 (their full list actually has 100 jobs listed). As I’ve previously said on several occasions, these lists are often problematic…but, hey, they’re still fun and interesting to look at.

They are, of course, very subjective. And obviously some of these jobs will be very appealing to some individuals while not at all to others. But, in an effort to create some objective measures to rank different jobs, they use a weighted scale across seven different metrics to get an overall score for each occupation. See the ranking metrics below:

The overall score is calculated from seven component measures, and for each measure, jobs receive a score between 0 and 10. Here are the component measures and their weights in computing the overall score:

● 10-Year Growth Volume (10 percent)

● 10-Year Growth Percentage (10 percent)

● Median Salary (30 percent)

● Job Prospects (20 percent)

● Employment Rate (20 percent)

● Stress Level (5 percent)

● Work-Life Balance (5 percent)

So they do give their metrics, some of which are more objective than others. For example, stress level and work-life balance seem to be pretty subjective, though they are gIven less weight in the rankings.  Median salary and employment rate, on the other hand, are pretty objective measures and make up a large percentage of the rankings.

image

 

image

 

What immediately jumps out to me on this list is the overwhelming dominance of healthcare professions. Of the top 10 ranked jobs above, 7 are in the field of healthcare. And it’s not top heavy just in those first ten… 13 (possibly 15-16 depending on what you include) of the top 30 ranked jobs are in the healthcare field.

So healthcare may be a good field to get into when thinking about jobs.

However, it’s also good to take a close look at the metrics they are using to rank these best jobs. Looking at their measures above, 60% of the score each job receives seems to be closely associated to the job growth and employment rate. I’m wondering if they are, in a sense, “double counting” jobs that are growing. That is, it seems very likely to me that a job with a high growth rate will also have a low unemployment rate and also have high job prospects. If you are a growing profession, you essentially win their ranking war. If you couple that growth with a good salary, then you really win their ranking war, as that those two measures account for 90% of your ranking score.

Even if the measures above are “double counted” in some way, I would still make the argument that those two measures are good to use.  Can I get a job? How much will I make? Those are two very important questions to consider when thinking about jobs. Of course, people will – and should! – consider and weigh their own interests in the equation, but that is something specific to the individual and thus too subjective to try and fit into a list such as this.

 

 

 

Advertisements
 
4 Comments

Posted by on January 17, 2015 in Advice, Budget/$$, Projects/Activities, sociology

 

Tags: , ,

4 responses to “Best Jobs:

  1. B

    January 17, 2015 at 1:26 PM

    I am glad my occupation isn’t on the list. It has in the past. This list promotes new, less competitive schools and larger class sizes for the occupations, which will lead to saturation.

    Like

     
    • trokspot

      January 17, 2015 at 1:54 PM

      I do remember seeing yours on here in years past. I wonder if these lists do have enough impact to get enough people moving in that direction that it alone would cause any kind of over saturation problem..

      Like

       
      • b

        January 17, 2015 at 4:57 PM

        Not alone, but all the schools advertise for the lists. Professional school is a very lucrative business, which also contributes.

        I think your next blog should research my hypothesis. I will be waiting.

        Like

         
      • trokspot

        January 18, 2015 at 6:36 PM

        Yeah, that is true that many professional schools do a lot of advertising and self promo if they are ranked high in lists like this one.

        Like

         

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: