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How to Transition from College to a Career in a Top Business Industry | XL Financial Blog

How to Transition from College to a Career in a Top Business Industry

Posted on 30. Nov, 2015 by in Business

College graduates starting their careers may be wondering which business industries are the fastest growing. They are wise to focus on the top business industries that show substantial revenue and employment growth along with above-average salaries. Here are the top five business industries for graduates to focus their transition from college to a career.

  1. Engineering services. The profession is anticipating hiring thousands of new graduates over the next decade years as business confidence improvements. That, coupled with higher government spending on infrastructure, produces a growth rate of 19 percent. The average salary in the engineering industry is about $87,000.
  2. Accounting. The field of accounting is projecting a growth of 17 percent, resulting from the growth in financial regulation. The current average salary for accountants, CPAs, and auditors is $67,500.
  3. Software development. The job market for software developers, programmers, and engineers has been excellent for years, and the prediction for smartphone app developers is an annual increase of nearly 38 percent. The industry’s insatiable desire for expertise is apparent in the average annual salary of approximately $148,000.
  4. Hospitals and healthcare. Projected to grow by almost 20 percent by 2020, the medical care field will benefit partially from the aging population requiring extra health services in the near future. Currently, the average industry salary is close to $67,000.
  5. Management consulting. Demand for new hires and profitability have been soaring as companies feel comfortable investing more in management strategies during the current economic recovery period. Management consulting is projecting an 18 percent growth rate through 2020. The average industry salary is close to 60,000.

Not all of the industries on the fastest growing watch list are service based. For instance, the residential housing market has just begun to recover, and that growth is supporting businesses related to the construction industry. Many industries were shrinking throughout the pitfalls of the recession. Now, virtually all industries are seeing upward growth.

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