Earlier this week, Standard & Poors downgraded the U.S. credit rating from AAA to AA+. This, combined with worries about lingering unemployment and European financial instability, precipitated a massive stock selloff that caused the Dow Jones Industrial Average to lose 635 points in one day. It’s the kind of situation that gets people talking about a double-dip recession.
If the country were to again experience the sort of economic turmoil we saw in 2007-2008, it could put many jobs at risk. Fortunately, certain careers have proven to be safe havens during a recession, remaining stable or even growing while most others decline. But which ones are they? And perhaps more importantly, how can you prepare for them without quitting your current job?
The right education can help you weather any economic storm.
Here are three recession-resistant fields that you can train for online:
1. Financial Examiner. One of the responses to the economic crisis has been greater regulation of financial and securities institutions. Financial examiners are the people responsible for making sure those institutions comply with the new laws. Entering this field requires a Bachelor of Science (BS) in Business Administration – Finance or equivalent degree. Online programs in this specialty are available at many accredited, reputable colleges and universities.
The U.S. Bureau of Labor Statistics’ (BLS) Occupational Outlook Handbook, 2010-2011 projects that the growth rate for financial examiners will be 41% through 2018, and their median annual salary is $71,750.*
[Search for accredited online finance degree programs now!]
2. Network Administrator. Computers are now a vital part of almost every company, institution and organization in the western world. Network administrators evaluate and maintain the intranets, local area networks (LANs), wide area networks (WANs) and other data communications systems that link them together. A Bachelor of Science (BS) in Computer Networking or equivalent degree is the starting point for professional practice in this field. Many accredited colleges and universities offer excellent online network administration programs.
According to the 2010-2011 edition of the Occupational Outlook Handbook, the median annual salary for network systems and data communications analysts is $71,100 and the profession is expected to grow by 53% through 2018.*
[Search for accredited online network administration degree programs now!]
3. Registered Nurse. Advancing medical technology and a growing elderly population has led to increased demand for trained healthcare professionals, especially nurses. Registered nurses (RNs) perform the bulk of day-to-day nursing duties, from evaluating patients to providing front-line care. To become an RN you must earn at least an Associate’s degree in Nursing and pass the National Council Licensure Examination (NCLEX). A Bachelor of Science in Nursing (BSN) degree is often required to advance in the field. Online RN programs are available at many accredited, reputable colleges and universities.
The Occupational Outlook Handbook, 2010-2011 projects that the growth rate for RNs will be 22% through 2018, and their median annual salary is $62,450.*
[Search for accredited online nursing degree programs now!]
*BLS salary and job growth statistics reflect national trends and may vary between states.