These are challenging times for young people trying to make a career choice, or anyone thinking of striking out on their own.
However your economic future plays out, there are pros and cons to being self-employed. You might like the idea of being the one to call the shots, choosing who to work with, and not having to rely on an employer. You might be entrepreneurial, and brave enough to shoulder your own health insurance and self-employment taxes.
But not all occupations are suited to self-employment. To find the best occupations for people who want to be self-employed, personal finance site MagnifyMoney crunched the data on 579 occupations from the Bureau of Labor Statistics, including:
However your economic future plays out, there are pros and cons to being self-employed. You might like the idea of being the one to call the shots, choosing who to work with, and not having to rely on an employer. You might be entrepreneurial, and brave enough to shoulder your own health insurance and self-employment taxes.
But not all occupations are suited to self-employment. To find the best occupations for people who want to be self-employed, personal finance site MagnifyMoney crunched the data on 579 occupations from the Bureau of Labor Statistics, including:
- Percent of workers who are self-employed
- Estimated new jobs added 2018 to 2028
- Estimated employment change 2018 to 2028 ( how fast an occupation is growing or contracting)
- 2018 median earnings
- Percent change in earnings 2017 to 2018
MagnifyMoney scored each metric, giving double weight to the self-employment rate, and ranked the occupations. Based on their study, these are the best careers if you want to be your own boss.
1. Food service managers
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- Percent self-employed: 37.6%
- Projected employment increase over 10 years: 10.8%
- Annual job openings: 46,900
- 2017-18 median earnings growth: 4.2%
- 2018 wage: $54,240
2. Construction managers
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- Percent self-employed: 39.8%
- Projected employment increase over 10 years: 9.8%
- Annual job openings: 40,200
- 2017-18 median earnings growth: 2.2%
- 2018 wage: $93,370
3. Real estate sales agents
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- Percent self-employed: 56.4%
- Projected employment increase over 10 years: 6.9%
- Annual job openings: 38,900
- 2017-18 median earnings growth: 5.9%
- 2018 wage: $48,690
4. Managers, all other
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- Percent self-employed: 54.5%
- Projected employment increase over 10 years: 6.3%
- Annual job openings: 91,300
- 2017-18 median earnings growth: 1.8%
- 2018 wage: $107,480
5. Massage therapists
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- Percent self-employed: 33.0%
- Projected employment increase over 10 years: 22.2%
- Annual job openings: 24,200
- 2017-18 median earnings growth: 3.6%
- 2018 wage: $41,420
6. Clinical, counseling and school psychologists
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- Percent self-employed: 30.0%
- Projected employment increase over 10 years: 14.7%
- Annual job openings: 14,600
- 2017-18 median earnings growth: 2.5%
- 2018 wage: $76,990
7. Taxi drivers and chauffeurs
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- Percent self-employed: 42.8%
- Projected employment increase over 10 years: 19.5%
- Annual job openings: 51,300
- 2017-18 median earnings growth: 4.4%
- 2018 wage: $25,980
8. Construction laborers
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- Percent self-employed: 27.6%
- Projected employment increase over 10 years: 10.5%
- Annual job openings: 179,300
- 2017-18 median earnings growth: 3.7%
- 2018 wage: $35,800
9. Management analysts
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- Percent self-employed: 17.8%
- Projected employment increase over 10 years: 13.5%
- Annual job openings: 99,900
- 2017-18 median earnings growth: 1.4%
- 2018 wage: $83,610
10. Carpenters
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- Percent self-employed: 27.0%
- Projected employment increase over 10 years: 8%
- Annual job openings: 116,300
- 2017-18 median earnings growth: 3.1%
- 2018 wage: $46,590
11. Interpreters and translators
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- Percent self-employed: 22.1%
- Projected employment increase over 10 years: 19.2%
- Annual job openings: 9,800
- 2017-18 median earnings growth: 5.8%
- 2018 wage: $49,930
12. Landscaping and groundskeeping workers
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- Percent self-employed: 22.0%
- Projected employment increase over 10 years: 8.8%
- Annual job openings: 173,600
- 2017-18 median earnings growth: 4.8%
- 2018 wage: $29,000
13. Veterinarians
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- Percent self-employed: 13.8%
- Projected employment increase over 10 years: 18.4%
- Annual job openings: 5,100
- 2017-18 median earnings growth: 3.8%
- 2018 wage: $93,830
14. Plumbers, pipefitters and steamfitters
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- Percent self-employed: 9.4%
- Projected employment increase over 10 years: 13.6%
- Annual job openings: 66,100
- 2017-18 median earnings growth: 2.5%
- 2018 wage: $53,910
15. Substance abuse, behavioral disorder and mental health counselors
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- Percent self-employed: 8.7%
- Projected employment increase over 10 years: 22.5%
- Annual job openings: 41,500
- 2017-18 median earnings growth: 3.1%
- 2018 wage: $44,630
16. First-line supervisors of landscaping and groundskeeping workers
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- Percent self-employed: 46.7%
- Projected employment increase over 10 years: 8.7%
- Annual job openings: 24,300
- 2017-18 median earnings growth: 2.5%
- 2018 wage: $48,220
17. Nonfarm animal caretakers
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- Percent self-employed: 26.6%
- Projected employment increase over 10 years: 16%
- Annual job openings: 54,500
- 2017-18 median earnings growth: 3.5%
- 2018 wage: $23,760
18. Lawyers
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- Percent self-employed: 20%
- Projected employment increase over 10 years: 6.1%
- Annual job openings: 45,700
- 2017-18 median earnings growth: 1.4%
- 2018 wage: $120,910
19. Web developers
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- Percent self-employed: 15.8%
- Projected employment increase over 10 years: 13%
- Annual job openings: 15,100
- 2017-18 median earnings growth: 2.1%
- 2018 wage: $69,430
20. First-line supervisors of construction trades and extraction workers
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- Percent self-employed: 7.8%
- Projected employment increase over 10 years: 10.4%
- Annual job openings: 79,400
- 2017-18 median earnings growth: 1.8%
- 2018 wage: $65,230
21. Coaches and scouts
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- Percent self-employed: 10.7%
- Projected employment increase over 10 years: 10.5%
- Annual job openings: 47,600
- 2017-18 median earnings growth: 4.7%
- 2018 wage: $33,780
22. Medical and health services managers
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- Percent self-employed: 4.8%
- Projected employment increase over 10 years: 17.6%
- Annual job openings: 42,200
- 2017-18 median earnings growth: 1.4%
- 2018 wage: $99,730
23. First-line supervisors of personal service workers
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- Percent self-employed: 21.5%
- Projected employment increase over 10 years: 11.4%
- Annual job openings: 34,400
- 2017-18 median earnings growth: 2.5%
- 2018 wage: $38,400
24. Financial managers
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- Percent self-employed: 2%
- Projected employment increase over 10 years: 16.0%
- Annual job openings: 64,900
- 2017-18 median earnings growth: 2.3%
- 2018 wage: $127,990
25. Manicurists and pedicurists
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- Percent self-employed: 28.4%
- Projected employment increase over 10 years: 10.1%
- Annual job openings: 20,300
- 2017-18 median earnings growth: 4.7%
- 2018 wage: $24,330
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