How to be a highly skilled individual and Earn Top Money

According to an article, “Study: US Wealth Gap Is ‘Unsustainable’",

A truly competitive U.S. economy would lift both firms and citizens. But our survey findings and other evidence reveal that that is not happening today in America. Instead, our “recovering” economy is doing just half its job: The typical large or midsized firm in America is rallying or even prospering, as are highly skilled individuals. But many middle- and working-class citizens and small businesses are struggling.

As an individual what can you do to be highly skilled?

Technological skills involving science, technology, engineering, and math (STEM) are highly sought after by employers. According to LinkedIn 20 of the top 25 skills most in-demand by employers in 2013 involved technology. Companies are interested in collecting data and making sense of it, therefore skills in information related areas are in demand:

• Statistical analysis and data mining
• Retail payment and information systems
• Business intelligence
• Data engineering and data warehousing
• Database management and software
• Information security
• Strategy and strategic planning

Accordingly, STEM education is now a top priority for many of the world's governments. Aim for a degree course because a degree holder will command a higher starting salary than a diploma holder as reported in an article, Grads’ starting pay up to 46% higher than diploma holders, 

 

A survey conducted by management consultancy Hay Group of 95 organisations here found that employers are likely to pay up to 46 percent more in starting salaries for degree holders than for diploma holders. The respondents comprised largely multinational corporations and local companies, as well as about a dozen government organisations.

The average monthly starting salary for degree holders without honours is S$2,741, about 2 percent higher than the S$2,683 last year. Diploma holders can expect an increase of a similar proportion, with average monthly starting salary going up to S$1,878 from S$1,840 last year.

The difference in starting salaries between the two groups was about S$1,000 across various industries.

It is worth mentioning here that a diploma holder’s salary will most likely be stagnant in the long run. 

Apart from acquiring hard skills, you need the following soft skills to complement and sustain your career:·    

    Able to work as a team

·        Effective communication skills

·        Solve problem creatively

·        Be confident

·        Flexible and adaptable 

·        Positive attitude

·        Effective time management to meet deadlines

Get the right skills and be one of the top earners.