Which jobs will pay most in 2040?

Australians eyeing a post-pandemic career change and pay boost should consider training in jobs that will secure their income for decades to come.

The rise of automation and technology is set to disrupt many industries — not even doctors and nurses are safe — with some experts believing even complex tasks like surgery could eventually be performed by robots.

Professionals in traditionally lucrative careers in law have already been put on notice, with analysis done by Deloitte in 2016 estimating that 114,000 jobs in the legal sector in the United Kingdom were likely to be automated in the next 20 years, most of them junior jobs including legal secretarial roles.

The legal industry, like many others, will increasingly need to embrace innovations such as “big data” in how they work, and experts in areas including technology development and data analysis will increasingly be hired.

Australia’s National Skills Commission has identified four important skills expected to be in demand in the future: care, computing, cognitive ability and communications skills.

The skills reflect the fact that human centric roles, such as those in the care sector, are very hard to automate. Non-routine, non-repetitive roles that require cognitive ability will also remain in high demand.

But it also highlights that many jobs will be created in the technology space and demand for digital skills will be higher than ever.

Communication will also continue to be important and analysis by the commission has found that employability skills like communication, problem solving, digital engagement, initiative and teamwork will be in demand.

“Jobs requiring very high-level oral communication and writing skills are the least likely to be automated,” the commission states.

“This finding – and the importance of communication skills to a range of jobs – sits behind the NSC’s view that communication will be a core skill of the future.”

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Carolyn Parry, founder of career coaching company Career Alchemy in the United Kingdom, believes people need to tap into their creativity to succeed.

“What parents can help their kids with is to get them to think originally – and I’m not just talking about drawing and design here, I’m talking about original thinking,” she told The Telegraph London.

“New developments will come at the intersection of so many different disciplines. So if you think about a Venn diagram, you take three different disciplines and you overlap them – that’s where the opportunity is. This is where the cure for cancer will come from.

“Anything related to STEM [science, technology, engineering and mathematics] is good – if it interests them. But if it doesn’t, don’t push your youngster down a route they don’t want to follow. It’s a recipe for a disastrous start in life.”

Futurist Nikolas Badminton has also identified several future jobs, including the roles he believes will be the best paid in the coming decades.

Human-centred designers and ethicists

Mr Badminton believes designers with a progressive outlook will become more important as technology creeps into every part of people’s lives.

The rise of companies like Twitter or Facebook has illustrated the ethical questions that are raised with new technology, including issues around how people’s data is used.

This will create demand for those trained in ethics, philosophy and design to help guide the operations of companies and create products with humans in mind.

“Also, major parts of government, especially municipal and provincial, will be redesigned around citizen empowerment and transparency,” Mr Badminton suggests.

Artificial intelligence psychologists

It may seem like a strange idea but robots may eventually need therapists too.

Mr Badminton believes smart devices and robotics will become so common that they will become “sentient”, making them able to perceive and experience feelings.

Psychologists will need to upskill to understand artificial intelligence and how machines learn.

“Our toasters may need help, and we’ll be there for them,” he adds.

Metaverse architects

The metaverse is not just a catchphrase thrown around by Facebook founder Mark Zuckerberg, Mr Badminton believes visionaries will be needed to rethink how humans connect and how virtual versions of themselves called “avatars” can live in mixed reality environments.

This will see those who’ve traditionally trained as architects, video game designers, sound engineers and retail experts, in demand at large tech companies, government organisations, tech platforms and advertising agencies.

Activist artists and creators

In bad news for those working in the television industry, Mr Badminton believes traditional viewing platforms will be “dead”.

Instead “art plus content plus experience” will be everything.

Entertainment will become more collaborative and artists who build ecosystems of video and content creators who spark activist movements, will be the new leaders.

Interestingly, Mr Badminton believes offline entertainment like theatre, dance, street art, fine artists and live music will enjoy a renaissance.

“It will bind together society and create purpose behind life in an ever-increasingly connected world and take on governments and big business alike.”

Data economy coaches

Data has become a hot commodity and in the future Mr Badminton believes people will begin to take more control of their own data.

We will get serious about our online identities and the data we generate, including choosing whether to make money from it.

In order to help people navigate this, experts will emerge to help people and companies with their “personal data brokerages”.

Online and local entrepreneurs

The internet has made it possible for entrepreneurs to reach a global audience and this will continue to provide valuable opportunities.

Many people will start businesses and use local and international freelancers to help them to deliver their products around the world.

But there will still be a place for those who want to remain local and don’t want to shift completely online, as people will still be attracted to personal interactions.

Data scientists

The world is producing a staggering amount of data — by 2040 there will be 200 petabytes generated every year — and more than 8000 digital data interactions per person.

“Every company will need teams of high trained data scientists to help them explore opportunities in the data they have and empower their employees and customers,” Mr Badminton said.

Cybersecurity and misinformation mavens

In a hyperconnected world, cyberattacks become more of a risk.

Teams of cybersecurity experts will work with “misinformation scholars” to ensure privacy, security and safety for all.

“These will be the best paid jobs in organisations in the late-2030s and throughout the 2040s,” Mr Badminton believes.

We can already see this happening. The Morrison Government announced this week it would double its spending on cybersecurity over the next 10 years, providing a $10 billion boost and 1900 jobs.

You’ll need training in computer science and information theory.

Healthcare professionals for biohackers

Mr Badminton believes longevity will become a top concern for the ultra-wealthy as the average age of those with over $10m in earnings skyrockets to 130 years old.

Specialist hospitals will emerge to help people maintain their health, with those trained in medicine and other specialities including nutrition and technology able to benefit.

Facilities will look at everything from implantable tech and cybernetics, to psychedelics and diet, to ensure a longer life for those that can afford it.

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