Sunday, November 04, 2012

The Career Crystal Ball: Which Careers Will Win After the Election?

If you have been following the Presidential candidates' campaigns, you're probably familiar with their goals to bolster the economic recovery and to bolster programs, both public and private, to help create jobs and develop a robust position in the world.

But, how do their views translate to careers?  Which sectors of the economy will benefit once their policies are implemented?

It's a tough question because we know that Presidents are not all-powerful, and they have to work with the legislative and judicial branch of the government as well. 

But, let's imagine for a moment that it's each candidate's perfect world. Which careers will thrive?  Let's take a look:

President Obama

The big winners here will most likely be the following:

Health care:  Obama's health reforms are restructuring the medical world, with expanded opportunities for nurses, physicians assistants, and health care administrators.

Education:  Continued expansion of grants for tuition, coupled with more controls on loans and education providers (in order to shut down diploma mills), could mean growth in higher education, especially at the community college level, where tuition is low.

Environmental protection / Green energy: Despite the setbacks in some alternative energy programs, there will still continue to be incentives for processes that monitor and protect the environment. Count on more vigilant monitoring of "fracking" and disposal wells that may cause induced seismicity.

Auto Industry:  Obama's support of the auto industry is likely to continue, resulting in high-tech jobs and also financial sectors.

Natural Resources Management and Technology: In this case, water is perhaps the biggest target, not only of conservation but also of management. Water trading during droughts and times of very thirsty cities has opened a new desire for new water purification, devices that conserve water, and those that protect the aquifer.

Governor Romney

Military: The military may reverse the current reduction in forces and start to ramp back up. Weapons purchases will expand as well. Careers in the military, as well as in military support industries will expand.

Investment Banking: Banking will most likely recover, with new investment funds, and potential sources of capital for small business, housing, and resource ventures. Companies specializing in M&A (mergers and acquisitions) will do well, along with those that "right size" and broker divestitures. Overseas investment in U.S. assets is likely to continue to occur, so a knowledge of international relations is critical. MBAs and international business majors may find themselves to be in particular demand. Learn Mandarin and Portuguese.

OIl and Gas Industry:  The shale boom will likely slow down if the price of natural gas stays low, and consolidations of companies accelerate. However, the expanded supply of natural gas must go somewhere, and we don't have the pipelines to transport it. The same applies to oil from North Dakota / Montana's Bakken, and Texas's Eagle Ford. Jobs for engineers, geoscientists, support techs, geographical information specialists, and pipeline construction will continue to grow. Demand for truckers, welders, and IT technicians (who deal with automated operations) will expand.

Attorneys and Paralegals: Corporate and administrative law could be the big winners, with a focus on bankrupcy, mergers, acquisitions, and patent law.

Possible Future Career Winners, Either Way:

Real Estate:  Recovery will continue to take place, regardless of the winner. Individuals in all phases of real estate could prosper.

Communications / Communications Networks:  Technology will continue to drive growth in smartphones, tablets, computer networks (cloud), as well as in solutions for standards-driven websites.

Genetics Specialists:  People who understand genes and can design medications and new varieties of plants will be in demand, both in the medical and agricultural fields. Bioengineering pets is also continuing to grow.

Event Planning:  As the economy recovers, so do events. Social media is making the "spectacle event" more popular than ever. Planners who can pull it off will be in demand.

Organic / Whole Foods:  Careers for those who produce, process, market, and distribute organic and whole foods will continue to thrive as the population continues to wrestle with staggering levels of obesity, often blamed on hormone-laced foods and hyper-processed foods.

Hospitality industry:  Tied to the overall health of the economy, the hospitality industry will thrive as the economy recovers.  Careers include culinary skills, restaurant management, hotel management, social media marketing for all travel / entertainment.

Robotics and Remote Operations:  Engineers, technicians, and computer specialists who can develop the platforms and equipment to expand the use of robotic and remote operations will thrive. Individuals who can work with the computer interfaces to analyze the information that comes from the remote information will also do quite well.

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