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Show Me the Money: High-Paying Careers in Business and Management

By Francine L. Huff
Learning & Life Columnist
December 18, 2006

One of your primary motivations for changing careers may be to earn a higher salary. Generally, the more education you have, the higher your earning potential will be. However, not all industries determine pay the same way, and it's important to understand how different companies create pay packages before you accept a job.

Bonuses and Commissions

Finance jobs often have a base salary plus bonuses and commissions. Under this pay structure, the harder you work and the more business you bring in, the more you'll probably get paid. Some companies may place more emphasis on the bonus part of the equation, and offer a smaller salary to start. When looking for a new job, it's important to decide how crucial it is for you to receive a higher base salary from the start.

Stock Options

In some industries, stock options are another incentive used in pay packages. Stock options allow you to buy a certain number of shares of your company's stock at a price and time your employer specifies. If you take a management job at a firm, you may be offered stock options as part of your pay package. Although stock options can be a great benefit, you'll have to wait for them to vest in order to cash them in. If the company's stock doesn't do well, those stock options could end up being worthless.

Make sure you ask about all the benefits and perks that go with a job before you accept it. If you want to enter a degree program or take evening courses, then a job with tuition reimbursement may be an important benefit. Getting the scoop on the type of compensation a company offers will help you determine if a job is the right fit for your life.

Sources

• Monster
• Salary.com

About the Author
Francine L. Huff is a freelance journalist and the author of The 25-Day Financial Makeover: A Practical Guide for Women. She has appeared on a variety of TV and radio shows.

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