Sunday, April 18, 2010

Tell me how to make money (legal or illegal)

What are the highest paying professions?

Like ones that pull in over $1 million per year?
  • 2 weeks ago
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Best Answer - Chosen by Asker

If you're self-employed and a good businessperson, it's possible to build a business to the point where you see over $1 million in income per year. That isn't very common, however.

Partners at big-name management consulting firms (e.g. McKinsey, Bain, BCG) can pull in more than a million dollars per year. It can take many years to make it to partner, however, and only about 1 in 5 of entering associates make it that high.

Some smaller consulting firms have partners who pull in seven figures, and I know at least two solo consultants who make that much. Check out Alan Weiss's book "Million Dollar Consulting" for information about how to start a solo practice that can be built to that level.

The most reliable source of big money that I know of is working in finance. Investment bankers and traders who are good can often see very high paychecks very early in their careers. The competition is intense for those jobs, however, especially since hundreds of them got laid off in the market collapse of 2008.

Any sort of broker job where you get paid as a percentage of the value someone else has created has the potential to make big money with relatively little work. Just find ways to get yourself attached to large transactions. Sales, real estate brokers, and securities trading all fit this bill. I once met a man who decided to retire early. He was a great salesman, he looked around and decided that the biggest ticket item he could sell was an airplane. He sold one, pocketed the commission (well over a million dollars) and retired.

Source(s):

http://www.summitconsulting.com - Alan Weiss's web site
  • 2 weeks ago

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