At some point of time or the other, we all sit down and try to evaluate where it is we are headed in life professionally. Making a choice about one’s career is perhaps one of the most crucial decisions an individual takes in his life. The options in front of you are virtually endless – you could be a banker, Wall Street broker, lawyer, educator, news reporter, beautician, hair stylist, fashion designer or an independent entrepreneur.
When making a decision, some are guided by what they enjoy doing most and others by how much money you can mint in a particular job. If your concern is the latter, you cannot ignore the advice given by Jim Rogers, bestselling author and one of the most influential personalities on Wall Street – consider farming as a profession.
Your astonishment and skepticism over this remark is understandable. With the world running behind finance, service and technology jobs, why would anyone want to consider backtracking to a rural life that America has left so far behind? The reasoning behind this career choice is rock solid – if current trends are to be believed, farming incomes are slated to increase exponentially in few decades; faster, in fact, than other industries, including Wall Street.
In the last few years, agriculture has become a choice profession owing to the spotlight on bio-fuels and the ever-ballooning middle class that has an equally increasing appetite along with the money to spend. Roger argues that in these times people do not need bankers; rather farming professionals who will meet the hunger problem of the world.
It is perhaps for this reason that where the overall economy is showing a doddering growth rate of less than 2%, net income from the agricultural sector was up by more than 25%. In addition, the price of farming real estate has gone up by 100% in the past six years, while general real estate prices are falling alarmingly.
In spite of these optimistic figures, agriculture makes up just 1% of the nation’s GDP. When you throw in other farming related activities – such as fertilizers, seeds, and tractors – the number jumps up to only 4%. However, experts are confident in their opinion that agriculture can do its fair bit to boost job growth. With incomes on the rise, farmers are going to look for suitable places to invest their money and they will be more inclined to put their money into new enterprises that will work as consumers for their crops – such as new biofuels or biodegradable plastics.
Finally, technological advancements in this field have led to innovations that have made farming a lot more productive than it was a couple of decades ago. Computer-monitored planting aided by GPS makes it possible to grow more crops in limited space while bioengineered seeds require lesser water and pesticides. The average acre that would yield about 91 bushels of corn back in 1980 can now produce more than 152 bushels. Higher produced when coupled with higher prices translate into higher profits and a richer and more content farmer. Do you really need more convincing to switch jobs?