Editor’s Note: This story originally appeared on HireAHelper.
Self-employment has proven to be an increasingly popular choice for many workers.
Self-employment often offers more of the qualities that workers want, like more flexibility in schedule or location, and less of the ones they don’t, like feelings of disrespect or lack of opportunity for advancement.
As a result, the ranks of the self-employed have grown over the last two and a half years.
Self-employment also has the potential to boost workers’ earnings. The median earnings for workers who are self-employed in their own incorporated business over the last 12 months exceed earnings for every other category of workers, except federal government employees.
Job outlooks and earning potential vary by industry, however, so some workers will find conditions for self-employment more favorable than others.
Here are the best occupations for being self-employed.
15. Meeting, convention, and event planners
- Composite score: 62.2
- Median annual wage: $49,470
- Projected employment growth: +17.8%
- Unemployment rate: 9.7%
- Typical education needed for entry: Bachelor’s degree
14. Electricians
- Composite score: 62.8
- Median annual wage: $60,040
- Projected employment growth: +7.1%
- Unemployment rate: 6.4%
- Typical education needed for entry: High school diploma or equivalent
13. First-line supervisors of construction trades and extraction workers
- Composite score: 63.1
- Median annual wage: $72,010
- Projected employment growth: +4.1%
- Unemployment rate: 3.7%
- Typical education needed for entry: High school diploma or equivalent
12. Private detectives and investigators
- Composite score: 64.0
- Median annual wage: $59,380
- Projected employment growth: +5.6%
- Unemployment rate: 4.0%
- Typical education needed for entry: High school diploma or equivalent
11. Insurance sales agents
- Composite score: 64.3
- Median annual wage: $49,840
- Projected employment growth: +6.3%
- Unemployment rate: 3.2%
- Typical education needed for entry: High school diploma or equivalent
10. Travel agents
- Composite score: 64.9
- Median annual wage: $43,810
- Projected employment growth: +19.7%
- Unemployment rate: 4.4%
- Typical education needed for entry: High school diploma or equivalent
9. Food service managers
- Composite score: 66.8
- Median annual wage: $59,440
- Projected employment growth: +9.8%
- Unemployment rate: 5.9%
- Typical education needed for entry: High school diploma or equivalent
8. Producers and directors
- Composite score: 69.9
- Median annual wage: $79,000
- Projected employment growth: +7.7%
- Unemployment rate: 5.0%
- Typical education needed for entry: Bachelor’s degree
7. Lodging managers
- Composite score: 70.2
- Median annual wage: $59,430
- Projected employment growth: +18.0%
- Unemployment rate: 8.4%
- Typical education needed for entry: High school diploma or equivalent
6. Interpreters and translators
- Composite score: 74.2
- Median annual wage: $49,110
- Projected employment growth: +20.2%
- Unemployment rate: 4.8%
- Typical education needed for entry: Bachelor’s degree
5. Construction managers
- Composite score: 77.6
- Median annual wage: $98,890
- Projected employment growth: +7.6%
- Unemployment rate: 3.4%
- Typical education needed for entry: Bachelor’s degree
4. Marketing managers
- Composite score: 78.2
- Median annual wage: $135,030
- Projected employment growth: +9.9%
- Unemployment rate: 5.0%
- Typical education needed for entry: Bachelor’s degree
3. Management analysts
- Composite score: 81.5
- Median annual wage: $93,000
- Projected employment growth: +11.4%
- Unemployment rate: 3.4%
- Typical education needed for entry: Bachelor’s degree
2. Personal financial advisers
- Composite score: 85.5
- Median annual wage: $94,170
- Projected employment growth: +15.4%
- Unemployment rate: 3.2%
- Typical education needed for entry: Bachelor’s degree
1. Medical and health services managers
- Composite score: 97.2
- Median annual wage: $101,340
- Projected employment growth: +28.3%
- Unemployment rate: 1.8%
- Typical education needed for entry: Bachelor’s degree
Detailed Findings & Methodology
The data used in this analysis is from the U.S. Bureau of Labor Statistics’ 2021 Occupational Employment and Wage Statistics and the U.S. Census Bureau’s Annual Social and Economic Supplement of the Current Population Survey.
To determine the best occupations for being self-employed, researchers at HireAHelper calculated a composite score based on median annual wage in 2021, projected employment growth from 2021 to 2031, and the average unemployment rate from 2020 and 2021.
In the event of a tie, the occupation with the higher median annual wage was ranked higher. Only occupations with at least 30,000 employees in the U.S. and a self-employment rate greater than the national average were considered in this analysis.
