Public utilities overview

Public utilities are organizations that provide essential services to the public, such as electricity, water, and sewer. They are typically owned and operated by government entities, although there are some privately-owned utilities. Utility companies are regulated by state and federal agencies to ensure that they provide safe, reliable, and affordable service to their customers.

utilities careers often involve working in the field to maintain and repair equipment, as well as working in customer service or administration. There is a wide range of job titles within public utilities, from entry-level positions to management roles. Some examples of careers in public utilities include:

• Field technician
• Customer service representative
• Engineer
• Project manager
• Director of operations

The benefits of a career in public utilities

A career in public utilities can be both rewarding and challenging. There are a number of benefits to working in this field, including the potential to make a difference in your community, the opportunity to work with cutting-edge technology, and the chance to earn a good salary.

In addition to these benefits, working in public utilities can also offer job security and the chance to advance your career. Utilities is a vital part of our economy and society, and there will always be a need for experienced and qualified workers in this field. If you are looking for a stable and rewarding career, public utilities may be the perfect choice for you.

The drawbacks of a career in public utilities

Public utilities provide many essential services to communities, but a career in this field comes with a few drawbacks. First, the work can be physically demanding. Workers may have to climb poles or enter manholes to inspect or repair equipment. Second, the job can be stressful because workers must respond to emergencies, such as power outages. Third, public utilities workers may be exposed to hazardous materials, such as asbestos, lead, and chemicals. Finally, the work hours can be irregular, and workers may have to be on call 24 hours a day.

The job market for public utilities

The job market for public utilities is expected to grow by 6 percent from 2018 to 2028, according to the U.S. Bureau of Labor Statistics. This is about average for all occupations.

There are a variety of jobs in the public utilities field, from entry-level positions to management and executive roles. The most common entry-level positions are in customer service, operations, and maintenance. Jobs in customer service involve interacting with customers and providing them with information about services and billing. Operations jobs involve working on the systems that deliver utility services, such as water treatment plants and power plants. Maintenance jobs involve repairing and servicing equipment.

Public utilities jobs can be found in both the public and private sector. Many utility companies are owned by state or local governments, while others are investor-owned corporations. Jobs in the public sector are typically government jobs, which come with benefits such as job security and good retirement plans. Jobs in the private sector tend to be more competitive and often pay more than government jobs.

Utility companies are generally large employers, so there are many opportunities for advancement within a company. Many utility companies offer training programs to help employees develop new skills and advance in their careers.

The future of public utilities

Public utilities careers may not be at the top of mind for many job seekers, but it’s a great industry to consider if you’re looking for stability, good pay and benefits, and a path to retirement. The future of public utilities is bright, with companies investing in their workforce and capitalizing on the growth of clean energy. Here’s a look at the future of public utilities and why it could be a great career path for you.

The public utility industry is made up of electric, gas, water, and wastewater companies that provide critical services to millions of households and businesses across the United States. The industry employs more than 2 million people and has an annual economic impact of $1 trillion.

Public utilities are essential to the economy and quality of life in the United States, but they face significant challenges in the years ahead. Infrastructure is aging, funding is constrained, and the effects of climate change are becoming more apparent. Despite these challenges, the future of public utilities is bright.

Companies in the public utility industry are investing in their workforce and capitalizing on the growth of clean energy. These investments will help ensure that public utilities can continue to provide safe, reliable, and affordable service to customers while also reducing their environmental impact.

How to get started in a career in public utilities

A career in public utilities can be a great choice for those interested in an exciting and rewarding line of work. There are many different positions available in this field, and the skills required can vary depending on the specific job. However, there are some basic steps that everyone interested in a career in public utilities should follow.

1. Research the different types of positions available. There are many different jobs that fall under the umbrella of public utilities, so it’s important to do your research and find the one that’s right for you. Some positions may require specific education or training, so be sure to factor that into your decision-making process.
2. Get the education and/or training required for your chosen position. Once you’ve decided on the type of job you’d like to pursue, it’s time to get the necessary education and/or training. This step may involve completing a degree program, taking part in on-the-job training, or both.
3. Start your job search. Once you have the education and/or training required for your chosen career, you can start your job search. There are many different ways to search for jobs, so choose the method that makes the most sense for you. You can search online, talk to people you know who work in public utilities, or look through job postings in your local newspaper or on job boards.
4. Apply for positions and go through the interview process. Once you find a few potential jobs that interest you, it’s time to submit your application and go through the interview process. This step will vary depending on the employer, but be prepared to answer questions about your experience, education, and why you’re interested in the position.
5. Start your new career! After you’ve gone through all of the steps above, you’re finally ready to start your new career in public utilities!

The best public utilities to work for

The best public utilities to work for have been ranked by Forbes. The rankings are based on a variety of factors, including job satisfaction, salary, and work-life balance.

The top five public utilities on the list are:

1. Xcel Energy
2. Consolidated Edison
3. American Electric Power
4. Southern Company
5. Duke Energy

These five utilities are consistently ranked among the best in the country for their employee satisfaction and compensation. If you’re looking for a stable career with good pay and benefits, a public utility might be the right choice for you.

The worst public utilities to work for

There are a number of different public utilities that you can work for, but not all of them are created equal. In fact, some of them are downright terrible to work for. If you’re considering a career in public utilities, here are the worst ones to avoid:

1. American Electric Power
2. Duke Energy
3. Southern Company
4. Consolidated Edison
5. FirstEnergy Corp.

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Firstly, here are some of the reasons why energy a good career path.

Why is energy a good career path?

Now, the reasons why a person chooses a certain career path vary greatly from one individual to another. While one might go behind fat paychecks and other monetary benefits, another might be looking for job satisfaction, a feeling that whatever they’re doing is genuinely contributing to making the world a better place. So, it’s important that you decide on which of these matters to you the most while picking a career path.

But, in broader terms, let’s try to answer the question, “Is Energy a good career path?”. The reasons for us wholeheartedly saying yes are multifold. Some of the major reasons for the energy sector being a good career path are:

1) Diverse career paths

2) Opportunities to work in other countries

3) Dynamic work culture

4) A chance to actually make a difference

Diverse career paths

The good thing about a career in energy is that there’s a number of sub-industries to choose from. From the oil and gas industry to renewable energy like solar, wind, and geothermal, the possibilities are endless. This diversity spills over to the employment opportunities for prospective students.

While there are a couple of big names in the industry like Alinta Energy, a lot of startups are starting to pop up. The Energy sector sees various small-scale and large-scale industries working together seamlessly. This is yet another factor that needs to be considered while making a life-changing decision like picking a career path.

Opportunities to work in other countries

It’s a continuing trend that youngsters today like to work in different countries. If you’re looking for a job that lets you travel the world, then the Energy sector might be the right fit for you. Since energy is omnipresent and every country across the globe has industries of its own, there’s bound to be a chance for you to work on a project involving an international client.

Surveys have also discovered that this sector is popular among those interested in an active lifestyle. The jobs in this sector will include you getting down and dirty.

Dynamic work culture

Across the globe, the work culture is changing for the better. Today, there are more discussions regarding diversity and inclusion. With a job in the Energy sector, you get to be at the forefront of this change. While there’s still room for improvement, this sector is significantly better than other industries when it comes to embracing this change. So, if you’re someone who values these traits, then this career path might be the right pick for you.

A chance to actually make a difference

With the ever-changing geopolitical landscape, a large number of degree holders are looking for an employment opportunity that allows them to make a difference in how the world functions. This is the section of people that prioritize job satisfaction over hefty paychecks.

 With the population climbing steadily, we run into the risk of exhausting the available energy reserves. So, the Energy sector is in need of a workforce that can think of new innovations to ensure that our future generations get to enjoy the luxuries we take for granted today. If you’re someone who’s fiercely committed to the fight against global warming and climate change, then there’s no denying that this is the perfect career path for you.

Career Opportunites in the Energy industry: List of high-paying jobs

According to the Statista Energy report, employees in the oil and gas sector are the highest-paid employees in the energy industry. In 2020, employees of the oil and gas sector in the North American region got an average annual salary of $98,614 and $59,916 in the Middle East. Renewable energy sector employees turned out to be the lowest-paid with an average annual salary of $74,708 in North America and $48,225 in the Middle East.

If the question “Is Energy a good career path?” is still ringing around in your ears, this comprehensive list should help you conclusively answer that question. It covers all the highest paying jobs within the Energy sector. So, without further ado, let’s get started.

1) Drilling supervisor

The first job on the list is that of a drilling supervisor. A drilling supervisor overlooks the operations of oil rigs in drill operations. They ensure that operations run smoothly and there don’t run into any unforeseen difficulties. A drilling supervisor is an essential cog in the wheel as they ensure that projects get completed on time.

Unlike other ones on this list, a bachelor’s degree is not mandatory. However, a basic degree in mechanical engineering can still come in handy. Ultimately though, it’s the experience and the ability to lead a crew that becomes the differentiating factor. Drilling supervisors earn up to $148,500 on average every year in the States. Do remember these figures may be subject to change and varies from one country to another.

2) Wind Farm Site Manager

We switch over to renewable sources sub-industry for this entry. Contrary to popular belief, it takes a lot of manpower to manage a wind farm. This necessitates the presence of a manager to oversee operations. Fortunately, this is where Wind Farm Site Managers come into the picture. They’re expected to look into the daily workings of the farm and ensure that there are no shortcomings with regard to the functioning of the wind farm. 

Wind Farm Site Managers are usually graduates who hold a Bachelor’s degree. Managerial skills and prior experience are appreciated.  They’re usually paid a sum of $ 105,000 on an average in the States and £76,725 in the UK. Are you still asking yourself the question “Is Energy a good career path?”

3) Wind Turbine Service Technician

With the number of wind farms growing, there’s naturally a requirement for qualified technicians for the regular upkeep of wind turbines. This job will need one to have an extensive background in construction, installation, and servicing of wind turbines. Their salaries are around $54,250 in the US and £39,750 in the UK. 

4) Green Construction Manager

Sticking with alternate sources of energy, this job requires an individual to plan construction projects and coordinate with the respective firms to ensure that they proceed to completion without any difficulties. The projects offered to them may include either constructing green offices buildings from scratch or retrofitting older buildings to today’s standards. Educational qualifications aren’t really of much value here. Managerial skills and work experience take precedence. Green Construction Managers end up earning $91,500 on average in the States and £67,250 in the UK.

5) Geoscientists

 The search for alternate forms of energy is intensifying, and the geothermal energy sector is experiencing a surge in interest; geoscientists are currently in a lot of demand. They constitute one of the most highly sought-after sections of academics today. A bachelor’s or a master’s degree should suffice in most cases. Geoscientists are paid up to $91,000 in the States. 

 This would be a great opportunity for anyone interested in the field and is dedicated to the cause of protecting the environment from imminent destruction caused by the extensive use of non-renewable sources of energy like oil and gas.

6) Civil engineers

With the demand for power increasing every day, there’s a need to build more and more energy plants. This means the demand for quality civil engineers to oversee their construction is increasing dramatically. The only prerequisites required for this job include a bachelor’s degree in civil engineering and prior experience of working on mega construction projects. Their salaries are in the ballpark of $86,500 in the States and £63,000 in the United Kingdom.

7) Solar Project Developers

We go back to the alternate energy sub-industry for this entry. A number of small, medium and large-scale industries are starting to get involved in this space. So naturally, there’s a growing need for Solar Project Developers who work on developing a plan for solar power plants. The construction of a new power plant requires the effort of individuals spread across different sectors like law, engineering, and finance. Solar Project Developers run point on this operation and are constantly in touch with all the stakeholders. They end up earning a sum of $84,00 in the States and £61,500 in the UK. 

8) Solar Power Plant Operator

Thanks to the concerted efforts of the developer and their team of workers, a solar power plant has been successfully constructed. But, it will need someone for its regular maintenance and to ensure that it is working optimally. This is where a solar power plant operator will come in handy. Sometimes, larger plants may need multiple operators to be working together simultaneously to keep it running the way it is intended to. Operators are ideally expected to have a background in mechanical or electrical engineering. They’re paid a sum of $83,000 on an average in the US and £60,500 in the UK.

9) Solar Energy Software Developer

We may have a solar power plant on our hands, but it needs to run on some sort of precise software. It’s this software that would help monitor the working of the plant and make fine adjustments when the need arises. Software engineers with a bachelor’s degree in computer sciences who’ve previously worked with industrial systems are preferred for this job. Their salary is generally around $73,000 in the States. The same job description would fetch you around £53,250 in the UK.

10) Solar Energy Technician

Regular maintenance is key to ensuring the functioning of a newly built power plant. It’s the responsibility of these technicians to monitor if everything’s in order. Other than working on larger power plants, Solar Energy Technicians also end up working on projects of a smaller scale like residential homes. More than educational qualifications, it’s the work experience that matters in a profession like this. Background in Heating, Ventilation, and Air Conditioning (HVAC) is a must for this job. It’s one of the highest-paying jobs that you can apply for without possessing a bachelor’s degree. Salaries vary from $72,000 in the States to £52,500 in the UK.

11) Solar PV Installer

Installing solar panels in your home might sound like a simple task, but in reality, it’s more complicated than it looks. So, a resident who’d like to switch to solar energy will need to hire the services of a Solar PV Installer. This job seems to be experiencing a surge in demand as more and more houses are shifting to alternate forms of energy. The tax rebates offered by certain governments are likely to have led to this trend. Applicants will need to have experience with HVAC installations. They might also additionally go through training programs before starting work. Solar PV installers earn $42,750 on average in the US and £31,500 in the UK. 

12) Roofers

 Roofers, more or less do the same work as a Solar PV Installer but tend to stick to projects of a smaller scale, like the installation of solar panels on a rooftop of residential homes. A basic degree isn’t really a necessity for this job. Firms do look for work experience before hiring.  Their salary is generally lesser than that of a Solar PV Installer. The figure’s $40,000 as opposed to $42,500 in the earlier case. 

14) Service Unit Operator

Service Operators, by definition, don’t really continue to work anymore. This change is largely due to the oil and gas industry becoming obsolete. But, to their merit, these professionals can quickly adapt to work in the alternate energy field as well. They can put their experience working in the oil industry to good use and contribute to making the world a better place to live in. They are paid a sum of $46,250 on average in the States. 

15) Site Assessors

The work of a Site Assessor comes prior to the beginning of the construction of a power plant of any sort. They are tasked with the crucial responsibility of identifying the proper site for the construction of a new plant by analyzing the scale of the project and estimating the cost of systems. Site Assessors tend to have a background in electrical engineering or construction. On average, they end up earning $40,000 in the States and £29,500 in the UK.

16) Chemists

While it might sound like a weird proposition, the oil and gas industry does employ chemists. They use their background in chemical and material sciences to come up with lubricants and fuels. Nowadays, they are being roped in by the alternate energy sector to aid in the development of highly efficient biofuels. Only those individuals with an advanced degree in chemical sciences can apply. Chemists are paid up to $70,000 on average.

17) Sales representatives

Like every other business out there, the Energy sector will need to have a dedicated Sales team as well. But, unlike in other sectors, sales representatives will need to be highly informed and knowledgeable about the sub-industry they’re working in. This knowledge is mandatory since they’re the only link between the company and its customers.

A sales representative will need to be quick on their feet as they only get minutes to analyze the needs of the customers and recommend the right services accordingly. Past experience of working in a similar firm can prove to be extremely useful. Sales reps usually end up earning $53,750 on average.

18) Scientific Researcher

There’s a lot of advancement happening in the field of renewable energy, particularly solar energy. Scientific researchers are the ones that have played a major role in this positive trend. This might be the job for you if you hold a Master’s degree in advanced sciences are committed to the cause of fighting against global warming and climate change. $77,000 is the average salary of Scientific Researchers. On average, they’re paid a sum of $77,000.

19) Renewable Energy Consultant

Renewable Energy Consultants are responsible for identifying the demands of prospective clients and suggesting the most viable source of energy to satisfy their demands. Candidates well-versed in renewable energy management are preferred for this job. Excellent communication skills are also a must. They’re paid an average salary of $82,500 in the US and £60,250 in the UK.

20) Environmental Science and Protection Technician

These technicians are an essential cog in the wheel as they monitor the effects of the construction and installation of newer power plants on the environment. They keep an eye on the pollution levels in the workplace and the possible detrimental effects it could have on workers. It’s a meaningful job to have as they’re single-handedly responsible for the welfare of the workforce. Candidates will need to possess a degree in environmental engineering. Environmental Science and Protection Technicians are paid an average salary of $46,250 in the US and £33,750 in the UK. 

21) Financial Analysts

The entirety of the renewable energy sub-industry is still trying to find its footing. Since there’s no blueprint to go by and that it’s a relatively new business, management personnel may struggle to make some important financial decisions.

To lessen their burden and to improve the quality of their decision-making, a number of startups end up hiring financial analysts. They’re able to use their expertise to calculate the return of investment on a new offering, estimate the cost of running a power plant, and market the services offered by the firm to improve their brand awareness. Financial analysts are required to possess a bachelor’s or master’s degree along with prior experience of working in a similar firm. Their salaries tend to be in the ballpark of $85,000 on an average.

Conclusion

We hope that we’ve answered the question “Is Energy a good career path” sufficiently. The Energy sector is currently booming, and as shown on the list listed above, the employment opportunities are endless. There are additional benefits in the form of chances to work abroad, an opportunity to be at the forefront of conversations regarding diversity in the workplace, and the chance to leave a lasting impact on the planet we live in when you choose energy a good career path.

But, do remember to take your time when picking a possible career path. This isn’t a regular job we’re talking about, it’s an actual career path. You’re likely to be spending a considerable amount of your adult life working in the field you choose to work in. Your skills and interests should ideally take precedence over the number of high-paying jobs within that field. Set your priorities right and decide for yourself if you value job satisfaction over hefty paychecks. Once you’ve done enough introspecting, list down the pros and cons and make an informed choice regarding the career you want to take up in your life. 

Read also:

• Is basic industries a good career path?
• Is real estate investment trusts a good career path?

The post Is energy a good career path? – Best Paying Jobs with Stats [Guide] appeared first on Platform to Showcase Innovative Startups and Tech News.

That, however, does not mean that you cannot choose to work here. Basic industries are those which supply raw materials to the other industries. Their jobs are different but immensely fulfilling. Here we will tell you all about basic industries and whether you ought to work here.

Before you ask “Is basic industries a good career path“, do you even know what it is?

Basic industries are those industries that actually supply raw materials to other industries. These raw materials are used to create products. If you want to know how many jobs are available in basic industries, then let us tell you there is no shortage. Some examples of such industries are Iron and steel, metallurgical, milling, paper, wood, etc.

Common categories of basic industries

Here are the main categories of basic industries:

Agriculture

Agriculture is a prime industry in some developed and underdeveloped countries. It is pretty essential and thus employs many people in various roles. Plus, it is a primary source of many raw materials. A considerable portion of a nation’s exports and imports come from Agriculture itself.

Some jobs in this sector are:

• Agronomist
• Animal scientist
• Food scientist 
• Plant scientist

Mining

A mineral is an essential raw material that all industries need. The mining industry involves two phases. One is the exploration stage, where minerals are found.

Then there is the construction and planning aspect. This involves at obtaining permits and making plans for mining.

• Purchase Officer
• Geotechnical Engineer
• Mining Engineer

Oil and Gas industry

This remains one of the largest industries worldwide. It comprises of three segments, i.e., upstream, midstream, and downstream. The upstream companies work on discovering or producing oil and gas. At the same time, the midstream companies work on its transportation and storage. The downstream companies comprise the companies that purify the oil and run refineries. You can decide which kind of business you would want to join. Jobs here are:

• Geoscientist
• Oil rig worker
• Oil field worker
• Petroleum geological engineer
• Offshore worker

Paper and Pulp

The paper industry consists of several small domains like packaging, hygiene products, and tissues. Pulp, on the other hand, is used in the textile industry. Jobs here can be:

• Logger
• Sawyer
• Woodworker
• Pulp or paper mill operator

Chemical industry

This industry involves transforming the raw materials into chemical solutions or gases. These are then easily used by the other industries. Some jobs include:

• Chemical engineer
• Chemical technician
• Plant operator
• Materials scientist
• Chemist

Steel and metal

We cannot ignore the role of steel in the construction industry. Various constructions and real estate projects like railroad tracks, beams, and pipelines require steel; hence its demand never reduces. Common jobs are:

• Iron worker
• Machinist
• Metal fabricator
• Tool and die technician
• Sheet metal worker

Utilities

Utilities like electricity, water, and heating, etc., are profitable industries too. Plus, they are very much in demand as most industries require the same. Some of the prominent jobs here are:

• Field installers
• Plant operators
• Utility engineer
• Utility Inspector
• Wastewater treatment technician

Every year Pharma industry employs a large number of people. But this field requires only highly trained and professional people.

The risk of any mistake remains very high. Plus you can even apply for management-related jobs like account managers, sales, and production managers. Post the pandemic the job demand in the industry continues to soar.

Why is basic industries a good career path? – Statistics

People who want to get some stability in their careers can choose a basic industry job. According to the U.S. Department of Agriculture, 19.7 Million full- and part-time jobs were related to the agricultural and food sectors in 2020 i.e. 10.3 % of total U.S. employment. 2021 reports show 601,149 people are dependent on the Mining Industry in the US and 8 Million jobs i.e. 9. 5.6% of total U.S. employment depends on the Oil and Gas Industry. As you can see there is a growing need for professionals in this field, that is why basic industries is a good career path.

As per the U.S. Bureau of Labor Statistics report, employment in the construction industry increased by 31,000 in November 2021. Heavy and civil engineering construction rose by 8,000. In the US, it is seen that gain occurred in miscellaneous durable goods manufacturing by 10,000 and fabricated metal products by 8,000.

Another factor that works in favor is that here you can get a high-paying and satisfying job. These industries directly impact an ordinary person’s life. Numerous job options depend on the interest of the applicant.

Apart from that, the people who work in Basic industries get to experience various situations. Thus their exposure and expertise level remains top-notch. This may be appealing to applicants who want a job that challenges them every day. The demand for raw materials never dies down. Hence the scope of your job will always show an uptrend.

Though here we would like to say that the jobs in basic industries are not easy. They involve hands-on experience and are strenuous. Yet, they are a good choice for those who are looking for something steady. The plethora of jobs means your job remains with no fears of downsizing.

What should you expect while working for basic industries?

We do not want you to feel everything is rosy in the basic industry’s job. Instead, it is better that you know some of the reality that you would have to face. The jobs in this industry tend to be strenuous. Here are some aspects you should expect if you decide to work there.

Highly trained

Choosing basic industries as a career option is not a bad idea. But remember that here only people with high skills are considered. You have to be exceptionally well trained to make a breakthrough. Plus, some of the jobs are hazardous. You must know how to tackle such a situation without any fear.

Physical nature of the job

Whichever job you choose, you will be required to do some running around. That is a basic premise that you must think of. If wondering Is basic industries a good career path, you should be open to this prospect. There is standing, carrying weights, running around, bending, and stretching tasks waiting for you. People who want desk jobs cannot do well in the basic industries.

Hazardous

Basic industries release many harmful by-products. These affect the environment too. Sometimes the health of the employees suffers. You must keep this in mind while looking for a job there. In fact, the people living around the complex remain at risk too. If you do not have a problem with this, you may look for a job in basic industries.

Which are the best paying jobs in the Basic industries to make a good career path?

There is no dearth of jobs in the Basic industries. You might wonder what do basic industries jobs pay. Some jobs pay better than the rest. Here are some high-paying profiles, along with the expected annual pay.

• Petroleum Geologists- 100,000$ 
• Drilling engineer- 100,000$
• Metallurgists- 100,000$ +
• Pipefitter- 90,000$
• Synthetic chemist- 80,000$ 
• Health and safety officer-77,000$
• Forensic scientist-60,000$
• Truck driver-64,000$
• Agronomist-60,000$
• Steel fabricator-40,000$
• Electrician-48,000$

Characteristics of a good employee in the basic industry

Are you considering a job in the basic industry? If yes, then let us tell you that most employers look for certain attributes in the employees. 

Adaptable

Basic industries are the first ones to get affected when any significant economic change happens. Hence the person who seeks employment here must adapt to any situation. Plus they should understand the technology and its use and change their working as per the trends.

Productivity

Employees are also expected to be excellent at time managing. There must be a flair for learning. The desire to excel makes it easier for anyone to break through. Once you get the job, you must have the potential to add value to the tasks assigned.

Attitude towards job

Even though the jobs are plentiful in the basic industries getting through is tough. Yet once you enter, you have to make sure you are there to stay. A positive go-getter kind of attitude always works. Employers appreciate an individual who is willing to accommodate. A desire to take up jobs is mandatory as mostly the jobs remain hectic. 

Teamwork

Basic industries have a huge employee count. Each task involves a huge team collaborating together. This task cannot be accomplished if someone is lacking behind. Naturally then, as a worker, you must be a good team player. Adapting to what your teammates say shows your sense of discipline. It also showcases and increases the chances of your team succeeding at the task. 

Proactive

Irrespective of the industry, a proactive person is an asset. You have to make decisions after considering all the aspects. The demands of basic industries keep changing with time. Only an aggressive person knows how to rise up to the occasion. If you cannot charge ahead, the career prospects for you in the basic industries remain bleak.

Conclusion

Hopefully, after reading this, you will have no doubts on whether is basic industries a good career path or not. The jobs here will never die as the demand for raw materials never ends. Once you enter the sector, your options to grow are multifold. Yet the job will not be easy either. You will get all the benefits coming with a steady job. But the expectations from you are high too. Get into the basic industries field only if you are passionate and hard-working. Every year the industry churns out loads of jobs. If you are experienced enough, you might land with a prime package too.

Read also:

• Is energy a good career path?

The post Is Basic Industries a Good Career Path?- [Detailed Analysis with Stats] appeared first on Platform to Showcase Innovative Startups and Tech News.

Humanity is gifted with a need to always build on what was previously built. This is what we call progress. We began with stones and sticks. We tamed the environment and shaped it to our needs. We found ways to live together and called it religion along with ever-evolving ideologies. We learned to trade in barter and then replaced that with a fiction called money. We came up with monarchy and then evolved into a democracy. We keep evolving. So does everything around us. Who would have thought that you can trade the gold with a bunch of paper a thousand years ago? Just like that, you can be a real estate success without ever owning a property. 

A Real estate investment trust is another example of how we keep on evolving and how it evolves everything around us. Now you want to build a career in real estate without the hassle and responsibility of a physical property. 

Before you ask “is real estate investment trusts a good career path?”, do you even know what it is?

Real Estate Investment Trusts (REITs) are companies that own, handle or operate real estate properties. REITs is a mutual fund that holds income-generating properties. These properties can be anything from hospitals to malls or schools and colleges.

People can purchase shares or real estate stocks from publicly-traded REITs. The REITs then use that money to finance or acquire assets and securities. REITs then generate revenue either by rental income or interest payment. The revenue gets distributed among the many shareholders and investors. This becomes a source of passive income for investors where they don’t have to get involved physically.

REITs are already a vital part of the economy in countries like the United States of America. According to reports, the market size by revenue in 2021, of the REITs industry, stands at $214.4bn. REITs are certainly the future of the real estate business. The major advantage of REITs is that people can benefit from real estate with minimal knowledge about the subject.

Types of real estate investment trusts

When one buys real estate stocks or invests in REITs, they invest in a liquid asset. Contrary to buying a property and being stuck with it. One can buy stocks of multiple properties and resell them in the real estate market. Once can diversify the risks by doing so. Diversifying risks is investment 101. There are a few types of REITs one can invest in. Here we are going to talk about two main types of REITs: Equity and Debt.

Equity real estate investment trust

This is one of the traditional approaches to investment. One can invest in a company that manages or owns properties. For example, a shopping mall. The investors or stakeholders get regular dividends from the rental income or profit made after selling a property. Here, one can take the role of a developer without ever taking the responsibility of buying or managing a property. REITs do that on the investor’s behalf.

Mortgage or debt REITs

Here one invests in REITs that finance the property using the pooled funds. Investors buy real estate stocks for REITs, and those pooled funds are used to provide loans. Naturally, the dividends are distributed from the interest earned on those loans. The operations here are the opposite of equity REITs.

This one is a great option for those looking to add another layer to their diversification of risks. There is a mix of equity and debt REITs. One gets regular dividends from the interest on loans, rental income, and capital gains. 

Pros of REITs

1. Anyone can invest without having extensive knowledge of how real estate works.
2. It requires less capital.
3. High liquidity – One can easily sell off shares or stocks. Whereas, it becomes excruciatingly hard to sell off a physical property.
4. Opportunities to add many layers to the diversification of risks.
5. The properties are fully vetted. REITs do not invest in bad properties. In short, they vet the properties on your behalf.
6. It is transparent and with 90% profit being distributed among the shareholders.
7. Tax advantages over owning a property.

Cons of REITs

1. The stocks are dependent on the economy. So, there is always a stock market risk exposure. However, real estate value fluctuates even when one owns a property.
2. Trust issues – you have to rely on someone else to manage properties.
3. One has to pay management fees since somebody else is handling the properties for them

Real estate investment trusts career choices and statistics

Now that you know REITs, you are one step closer to making an informed decision. “Is real estate investment trusts a good career path?” is as legitimate a question as a good REITs. As said previously, humans always look for progress. REITs are an inevitable future and a career opportunity. Yes, it comes with its own risks, but all changes do. If humans were afraid of changes, we would never progress to the age of the internet and nuclear energy.

Yes, real estate investment trusts is a good career path as the current trends show that this sector has great opportunities. In 2019, Over 274,000 people were employed full-time by a REIT. By a short survey it was found out that on LinkedIn, around 1000 jobs are posted on daily basis. And it will only become better in the future.

The government pays more respect to real estate development when it comes to building an economy. And the investors consider REITs as a safe and reliable source of income. This trust brings in a lot of investors’ money. So naturally, there are too many job opportunities in this sector. And this overall makes real estate investment trusts a good career choice. Another case in point is the amount of money people are making who are involved in REIT. Just look at the numbers below.

The types of jobs in this sector are property managers, development executives, acquisitions managers, operation managers, data analytics, and many more. Best paying jobs in REIT are Real Estate Investor, REIT Analyst, Real Estate Agent, Real Estate Property Appraiser, etc. The highest-paid makes an average of $124k annually.

Frequently Asked Questions:

Let’s look at a few questions for certain types of jobs in this sector:

Is real estate acquisitions a good career path?

A REITs firm has to vet each and every property before investing in it. Investors and the company can lose a lot of money if they invest in a bad property. The Acquisitions team looks for new investment opportunities. They map the possibility of funds and investment opportunities. If you want a career where you come up with better investment strategies, then this is the pathway for you.

Is real estate development a good career?

These are the eyes and ears on the ground for any firm. The development team is the core of any REITs firm. Developers work with the contractors on-field and finance the development of a property. You can say that without developers, there wouldn’t be any property. If you are someone who can’t sit in one place and loves working in the field, then this is a great pathway for you.

Is property management in REITs a good career?

Property managers are responsible operations of properties under their onus. They are in charge of how property functions and generates revenue. You can make the most money in this. If you are somebody who becomes a default logician in all family functions, then this might prove to be a great pathway for you.

Is investor relations in REITs a good career?

If one invests money in REITs, then they will have a lot of questions. Investor relations is responsible for maintaining good relations with investors. Investors are naturally cynical, with a lot of money on the line.  REITs firms can lose their trust based on a single bad experience. This is a great pathway if you like dealing with people, answering their questions, and calming them.

Final words

So, is real estate investment trusts a good career path? Short answer, YES!

There are risks associated with every career pathway. In the end, what matters is whether you are honest with yourself or not? Before choosing any career, reflect. Reflect on what skills you have and what skills you want to build? What are the resources available for you to upskill yourself? And most importantly, would you enjoy acquiring said skills?

There are many pathways to choose from when it comes to picking the right choice of REITs career. The right choice is where you align, not where you earn the most money. For example, one might focus on the best paying jobs in real estate investment trusts and go for property management. But they might be the kind of people who can’t sit at one place the whole day.

In the end, the decision is yours. Research more. Read case studies. Connect with old and new people in the industry. Reflect on your finding and make an informed decision.

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