The contest does not always go to the strong, nor the race to the swift, but that’s the way to place your bet.
Q. Bryan, what industry will pay me the most over the next 10 years?
A. I know how you can find out what industries are hot today. I am not that good at predicting the distant future.
What is hot today? Follow the money. To which industries is money flowing the most heavily? What are people investing in? Where is the greatest potential for growth? Where will it be the easiest to get hired and promoted?
If you really want to know, you need to go to your local newsstand. Ask for a copy of Investor’s Business Daily. Hidden on page B-4 is a chart that will tell you what you need to know. It is called, “IBD’s 197 Industry Group Rankings”. You can also subscribe to www.investors.com , but the paper is cheaper.
The chart lists all the major industry sectors in the USA. Then it ranks them according to how well stocks have performed in the last 6 months. The industries at the top of the chart are the ones everyone is investing in. The ones at the end are the ones being abandoned.
Just because money is flowing out of an industry does not mean it is doomed. It does mean that it will be hard to find a new job in that industry. It means that you have to show a strong ability to save big money or make big profits to get hired.
I always try to fish where the fish are abundant. I hunt where the animals I seek are the thickest. I job search where the jobs and promotions are plentiful. Time to do a little research to make sure you are looking where the jobs are plentiful.
Something To Do Today
Buy a copy of Investor’s Business Daily. Cut out the Industry Group Rankings chart and pin it to your wall. Study it so that you understand each column. Compare what is hot today to what was hot a year ago. Are you hunting where the jobs are thickest?