If you ever wondered what is the best industry to be in, our list of most profitable industries in the world will give you the answer. Maybe it isn’t too late to change your career choice after all.
Industry in its most plain definition is the production of goods or services within the economy. There are many classifications of industries, but the three-sector theory is the most common one. This theory divides industry branches into three sectors: primary, secondary and tertiary. To the primary sector belong all the industries that directly make use of natural goods like agriculture, mining, fishing, etc. Manufacturing industries belong to the secondary sector and providing services make the tertiary sector. In the recent years, some authors are claiming that there are two more sectors: quaternary belonging to knowledge and quinary sector for culture and research.
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Industries are integral parts of most countries and societies and employ the majority of the population. Depending on the country’s development, differences between percentages of the workforce in each industry sector can be major. In developed countries, most people work in the tertiary sector. In the USA for example, 70% of the working population works in the service sector, making them the most profitable ones, which you may have noticed in our list of most profitable industries in America. This high rate of the workforce in service sector enabled the USA to be the second largest industry force by industrial output in 2015 in the world. China ranks first with industrial output in 2015 being 4,922 billion USD.
All these information have shown us how important industry is for the economy of a certain country. Now let us see in our list of most profitable industries in the world below, which of the industries are paying off the most. To find out, we used the report made by Sageworks, a financial information company, who ranked all industries by net profit margin in 2015. Net profit margin is “the percentage of revenue remaining after all operating expenses, interest, taxes and preferred stock dividends (but not common stock dividends) have been deducted from a company’s total revenue.”
11. Outpatient Care Centers
Net Profit Margin: 11.7%
These centers are usually managed by the private practice and thus the great net profit margin. In certain countries, they have better equipment than public hospitals and that accounts for their popularity.
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10. Management of Companies and Enterprises
Net Profit Margin: 12.6%
Management brings a load of cash to ones who do it, only if they do it properly. Although one would expect that the net profit margin is higher, there are many factors that can lower it.
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9. Offices of Other Health Practitioners
Net Profit Margin: 12.6%
Health is a lucrative business, and a high percentage of health-related services on our list shows that. People have started to put their trust in private practice because they think paying more will get them a better service, which doesn’t have to always be true.
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8. Offices of Real Estate Agents and Brokers
Net Profit Margin: 14.1%
Remember when you looked for a house, and real estate agent was really nice, did all he could to help you? Well, don’t take us the wrong way, but he probably did all that to get his paycheck boasted.
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7. Offices of Physicians
Net Profit Margin: 14.1%
More of health industry on this list of most profitable industries in the world. I bet you feel deep regret for not listening to your parents when they begged you to pursue a medical diploma.
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6. Lessors of Real Estate
Net Profit Margin: 14.1%
Being a landlord always seemed like a good career choice. You are virtually doing nothing and getting the money. Although, one little thing that you need is real estate to lease.
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5. Offices of Dentists
Net Profit Margin: 14.9%
It is a tricky, sometimes smelly business, but someone has to do it. Dentists are often teased that they are not real doctors, but we guess they have the last laugh now.
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4. Equipment Rental and Leasing
Net Profit Margin: 16.4%
All people want to be landlords, and all landlords want to be equipment lessors. Or something like that. High – tech equipment is very expensive, and if you will use it once or twice, it is better to rent it, and equipment lessors know that very well.
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3. Oil and Gas Extraction
Net Profit Margin: 16.4%
This is often a very dangerous job, but lucrative and very rewarding. It is the only industry from the primary sector that managed to find its way on the list.
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2. Legal Services
Net Profit Margin: 17.8%
Lawyers may have sold their soul to the devil, but at least, they didn’t do it for cheap. The legal industry is widespread, and it has its fingers in almost everything. This fact is well used by legal industry and legal services always have a hefty price tag attached to it.
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1. Accounting Services
Net Profit Margin: 19.8%
A whole range of accounting services has made accounting services become the most profitable industry in the world. Accounting, tax preparation, bookkeeping and payroll services are the things to pursue if you have a fresh career start. It is simple; you work with the money, and you get the money. One other appealing part of this industry is the fact that there is always a demand for the workforce, and you won’t spend much time waiting for the job interview.
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