Is Professional Services A Good Career Path? | 2022

Is Professional Services A Good Career Path
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The Professional services career path constantly expands, offering various job options. This is because, many businesses are increasingly using the expertise of professional services while focusing on their core business function.

According to the Bureau of Labor Statistics, the sector alone added approximately 95,000 jobs in February 2022.

In addition, the average yearly salary for a worker in professional services is around $84,889 in July 2022, according to the job review website Glassdoor.

So this is a good career path that is very lucrative.

Ready to learn more? Let’s dive in!

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What are Professional Services?

Professional services is a broad term that covers nonphysical products or services that individuals or companies provide to customers to help them manage or improve their businesses or homes. Attorney, accountant, bookkeeper, architect, real estate appraiser, civil engineer, project manager, digital marketer, and consultant are some of the professional services.

Professional services consultants certainly focus more on the selling of their services than on the promotion of manufactured goods.

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What Are the Two Types of Professional Services Organizations?

The professional services organization should have a clear charter. These charters can be divided into two groups:

1. Professional Services Revenue/Profit Charters:

The professional services organization was formed primarily to promote basic, direct financial performance and success in an organization with a professional services revenue/profit charter.

As a result, the use goals, supporting systems, and pay scheme of the professional services company are designed to promote revenue and profits.

2. Product/sales support charters:

The product/sales support charter, on the other hand, creates a professional services organization whose main purpose is to assist and advance the company’s primary product business.

However, billable usage hours won’t be as important to organizations created under the product/sales support charter.

They will instead devote more time to non-billable tasks like pre-sales assistance and client adoption.

Examples of Professional Service

Professional services offer a wide range of job opportunities, such as:

  • Digital marketer
  • Bookkeeper
  • Advertising executive
  • Architect
  • Attorney
  • Consultant
  • Content marketer
  • Real estate appraiser
  • Engineer
  • Financial planner
  • Graphic designer
  • IT analyst
  • Project manager

Is Professional Services A Good Career Path?

Definitely! This is an in-demand industry with growing opportunities for job seekers. There is an increasing solid demand for professional services by small and large scale businesses. This industry also gives you the opportunity to earn high on your expertise and enjoy work flexibility.

Professional services have a lot of lucrative occupations with promising employment possibilities, so it is a good career choice.

Solutions from professional services are highly sought after since they are applicable in several sectors.

As an illustration, a technology consultant in an accounting business can develop the accounting software required to increase staff efficiency and client satisfaction.

In order to manage IT systems, architectural companies also require technology consultants.

Although a bachelor’s degree may be sufficient for many professional service occupations, you will need the appropriate training to specialize in your chosen professional service.

To rise fast from entry-level employment to a higher and more fulfilling role, you could also need years of work experience and advanced credentials.

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What are the Benefits of Professional Service Career Path?

Here are some benefits you can get from working in Professional services:

Great Potential For Pay Gains

As a professional improves, they can always charge by the hour, especially if they have gained a strong clientele and a solid track record.

Therefore, the benefit of providing professional services is that much of your success will depend on your knowledge and customer service skills. People typically pay for what you do if you’re the greatest at it.

Solid Demand For Professional Services

According to the BLS, hiring in professional services has increased steadily since the peak of the COVID-19 outbreak.

Job security in professional services is typically favorable since “there are few individuals an employer can replace you with” if you become a subject matter expert in your sector.

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Considerable Flexibility

After a given level of experience, a worker has many career choices in professional services.

For example, they may be able to go it alone and start their own business, such as a legal firm, accounting firm, or financial planning firm.

In addition, if they enter the consulting sector of professional services, they can chart their own path, such as working in-house at a big corporation or as an independent contractor

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What are the Roles in the Professional Services Sector?

There are many different aspects of helping customers manage, develop, and grow their businesses. The following are some essential elements of professional services:

  • Audit – examining a company’s or organization’s accounts to confirm the accuracy and legality of its financial records
  • Tax – providing guidance to companies on how to reduce their tax burden or preparing tax returns
  • Actuarial: the process of forecasting future financial hazards using models and statistics.
  • Financial Advisory – providing guidance to firms on investments and effective money management.
  • Consulting – helping companies restructure for optimal efficiency or cut expenses

What is the Prospect of Professional Services Career Path?

The need for professional services provides a positive job outlook for these occupations year after year.

In addition, the BLS estimates that from February 2020, employment in professional and business services has increased by 880,000 jobs, including the creation of 74,000 new positions in June 2022.

Additionally, employees generally work from home while providing professional services.

There are many employment prospects for professional experts because many businesses are prepared to hire outside of their locations.

So, the career is expected to expand by 9% between 2018 and 2028, creating 56,000 new work opportunities nationwide.

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How Much Can you Make From the Field of Professional Services Career Path?

According to Zippia, in America, the average yearly wage for professional services consultants is $101,205, or $49 per hour. The lowest 10% earn less than $73,000 annually, while the richest 10% earn over $138,000 annually.

Entry-Level Jobs in the Professional Services Career Path

Fortunately, firms in the professional services sector also have openings for entry-level candidates. Professional services entry-level jobs include:

  • Accounting assistant
  • Junior financial planner
  • Budget analyst
  • Business analyst
  • Junior account executive
  • Junior architect
  • Digital marketing associate
  • Junior engineer
  • Law firm associate
  • Junior financial planner

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7 High Paying Jobs in Professional Services Career Path

Professional Service CareersProfessional Service Salaries (per year)Job OutlookMinimum Education
Physicians and Surgeons$208,0003%Medical, doctorate’s degree
Computer and Information System Managers$151,15011%Bachelor’s degree
Financial Managers$134,18017%Bachelor’s degree
Airline and Commercial Pilots$130,44013%High school diploma, bachelor’s degree (usually), flight training, FAA license
Lawyers$126,9309%Law degree, bar certification
Actuaries$111,03024%Bachelor’s degree
Software Developers$110,14022%Bachelor’s degree
High Paying Jobs in Professional Services Career Path

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#1. Physicians and Surgeons in Professional Service Career Path

Average Salary: $208,000

Healthcare workers who check and treat diseases and other medical issues, including doctors and surgeons, earn highly paid salaries.

They are also employed by clinics, hospitals, and public and private organizations.

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#2. Computer and Information Systems Managers

Average Salary: $151,150

All computer-related operations for a company are organized, enabled, and managed by computer and information systems managers.

Therefore, consider enrolling in a Bootcamp and earning an IT certification to launch your tech career.

To become an IT systems manager, you must have a bachelor’s degree and at least five years of experience.

#3. Financial Managers

Average Salary: $134,180

By creating reports, and investing in the appropriate resources. However, by creating financial strategies, financial managers assist businesses in the financial services sector in setting and achieving their financial goals.

They also provide business financial guidance.

You need a bachelor’s degree in an area linked to finance and at least five years of relevant professional experience in order to become a financial manager.

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#4. Airline and Commercial Pilots

Average Salary: $130,440

For airlines, businesses, or governments, certified pilots are in charge of flying helicopters or other aircraft. Indeed, the safe takeoff, flying, and landing of aircraft are the duties of the pilots.

After finishing a flight training program, you must have a high school diploma or the equivalent, as well as a license from the Federal Aviation Administration, in order to become a pilot.

A bachelor’s degree is typically required by airline firms in addition to certification and training.

#5. Lawyers

Average Salary: $126,930

A lawyer is a professional who represents clients, practices law, and provides legal counsel.

They operate in a range of legal contexts, including companies, courts, and government bodies as well as law firms.

To practice law, you must first graduate from a school with American Bar Association accreditation and get a law degree, as well as pass the necessary bar exams.

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#6. Actuaries

Average Salary: $111,030

Business specialists known as actuaries are experts in the mathematical study of risk and uncertainty.

They employ their expertise to evaluate risk’s financial ramifications and aid both organizations and people in making wise financial decisions.

Certainly, actuaries are most regularly employed by the insurance sector.

However, to work in this industry, you must possess a bachelor’s degree in mathematics, statistics, actuarial science, or a closely related subject.

#7. Software Developers or Engineers

Average Salary: $110,140

Certainly, Software developers provide technical services through the development, design, and maintenance of software programs.

So, they test the apps to make sure they are operating properly.

Therefore, depending on your learning path, the length of your software development training might vary. Also, the top coding boot camps are a perfect process to fast advance your technical knowledge.

However, to fill this position, most people need a bachelor’s or master’s degree in computer science or a closely related discipline.

Frequently Asked Questions (FAQs)

What is an example of a professional service?

Numerous sectors have professional services businesses. They include, among others, attorneys, public relations specialists, architects, accountants, financial advisors, engineers, and consultants.

What is the function of professional services?

Professional services firms specialize in a particular skill or area, and their work enables business owners to concentrate on their primary operations.

What counts as professional services?

Basically, professional services include a variety of jobs that help firms by giving advice or carrying out tertiary duties.

What is a professional career path?

A human management tool for evenly distributing jobs and responsibilities within an organization is the professional career path.

Conclusion

Professional services consultants are paid a surprising $50 per hour or nearly $103,902 per year.

Also, Professional services, customer service, architecture, cloud computing, business process are among the trending job roles in this sector.

In addition, accounting, computer science, or bachelor’s degree in business is the most typical minimal educational need.

Reference

  • zippia.com– Average Salary for a Professional Services Consultant
  • wrike.com– What are examples of professional services?
  • tsia.com– What is Professional Services: A Quick Guide

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