#YourCareer : 5 Recession Proof Jobs Revealed (And The List Might Surprise You). Great REad!
American families are struggling with inflation. As three-quarters of middle-income Americans struggle to support their cost of living, 78% are worried about losing their jobs, while 25% say they’ve been laid off or know someone who has been. Crippling recession and job uncertainty have forced Americans to act, with 40% actively planning a career change, seeking more security and a higher salary.
“Today, the job market moves faster than a Tesla in a ludicrous mode, leaving many bystanders gasping for air,” according to Roman Peskin, co-founder and CEO of ELVTR, an online education platform.
The team at ELVTR surveyed 21,500 Americans looking to change or enhance their careers to discover the top five recession-proof professions, helping workers recession-proof their careers and add value to their job search.
Top 5 Recession-Proof Professions
Here are the top 5 professions that, according to ELVTR, are in high demand—each paying up to around $100,000 a year. This list might surprise you:
1. Product Management
In a world driven by technology, there’s no shortage of innovation or demand for talent in the IT sector, but companies aren’t just seeking technologists. They also require those with product management skills to ensure the success of their products. According to Glassdoor, there are 17,725 current openings in the product management field. IT product managers can expect a respectable salary and opportunities to progress. Offering a pathway into the lucrative tech industry that doesn’t require the ability to code. Average salary, Glassdoor: $96,496 per year
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2. DEI (Diversity, Equity, and Inclusion) Management
According to LinkedIn, the number of ‘head of diversity’ professionals has more than doubled since 2015 with companies such as Electronic Arts, Deloitte and Amazon among those hiring. Shown to boost productivity, employee retention and morale, and with 75% of job seekers evaluating a company’s diversity when considering a job offer, investment in DEI management positions will only increase. By mastering skills such as communication, issue identification and conflict management, candidates can secure a career in this growing field. Besides offering a lucrative career choice, such roles are perfect for those hoping to leave a positive mark on our workplaces and society. Average salary, Glassdoor: $89,804 per year
3. Game Production
The gaming industry grew by 26% between 2019 and 2021 and will continue on this trajectory despite the recession, according to PwC, as consumers seek low-cost entertainment. With gaming a favorite hobby among young consumers, this ranks as the most desirable industry among job-seekers as new professionals seek a career doing what they love most. To beat the competition, candidates will need to master scarcely available skills. This is not just an opportunity for those with coding knowledge and experience. To meet demand, the industry will need to recruit a diverse range of skills—from UX/UI to sound engineering, programming to script writing. Average salary, Glassdoor: $87,024 per year
4. Creative Direction
With sector job prospects projected to grow 11% this decade, faster than the U.S. job market average, there is an evident need for art direction skills. A decline is unlikely despite the economic situation as people continue to seek entertainment during tough times and businesses increase their advertising efforts to maintain recognition and loyalty. Opposing the ‘starving artist’ stereotype, art direction roles enable creative types to showcase their creativity with the guarantee of reward. Average salary, Glassdoor: $72,694 per year
5. Data Analysis
With an ever-growing amount of data available to businesses, professionals with analysis skills to transform this into valuable insight are in high demand. According to LinkedIn, data science vacancies have been growing by 37% annually in the U.S. With roles spread across almost all industries, those competent in data analysis have the freedom to pick a role and sector that appeals to them such as banking, healthcare, retail or tech. Also requiring above-average computer literacy and mathematical skills, this is by no means an easy profession, but the rewards are equal to the requirements with even entry-level analysts commanding above-average salaries. Average salary, Glassdoor: $63,731 per year
A Final Word On The Future Of Work
After decades of wage stagnation, the workforce is finally seeking more, Peskin told me. He explained that close to a quarter of employees are considering their options and scrambling to expand their expertise, but so too are thousands of others. “‘Skills inflation’ hits, the supply of candidates increases, and the number of available roles plummets,” he said. “Ultimately, mastering mass market skills are unlikely to improve a job seeker’s prospects. Instead, employees should focus on acquiring skills that are less common among today’s workforce, yet no less valuable and desirable to employers.”
Most of the jobs from the list above didn’t exist 20 years ago, according to Peskin, yet today they enjoy a steady demand despite a slowdown in the economy. “According to our recent research, 40% of people with a college degree don’t believe their profession will be in demand ten years from now,” he concluded. “Lifetime learning is no longer a fancy concept but quite literally a survival mechanism. Learn new skills or get eaten. That’s the deal.”
Forbes.com | October 26, 2022 | Bryan Robinson, Ph.D.
