Thursday, March 26, 2015

Professions and remunerations

Venture Capitalists would like to bet on people who change the future. What are the professions that are most likely to cause the biggest changes in our lives in the next fifty years? Shouldn't these be the professions that are valued the most and remunerated accordingly?

Until as recently as the 1990s, the best paid professions were in engineering and medicine. The world used to value the services of people who created things and saved lives, and the best paying jobs were in Computer Science, Medicine and Genetics. Today the highest paying jobs are in financial services, legal services and management. Are these professions really the creators of value or are they specialists in redistribution of wealth created by others? We have all shaken our heads at the 2008 financial crisis and the bizarre fact that the people who caused the crash with their warped mathematics and logic got paid millions in bonuses while the creators of wealth lost their jobs in the aftermath.

What profession should we remunerate the most generously?
What profession builds the people who will make tomorrow a better place?
My top pick for such a profession: Teaching.

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