Money Management
November 11, 2024
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This year has been challenging. The shilling has been declining in value throughout the year. This has made doing business in the country difficult, resulting in people losing jobs and a reduction in the number of new jobs being created.
As we head into 2024, we should look into how the job market has been this year. By studying 2023, you can go into 2024 more informed and equipped to make the right career decisions.
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As we head into the new year, here are the jobs with the highest demand in 2023.
Information technology (IT) is a diverse field that involves different technologies to manage and process information. There are many jobs in this field. Working in this field consists of developing, maintaining, and using computer systems, software, and networks. One can specialise and work in any of the following aspects of the industry:
The industry has good earning prospects. According to KNBS, in the 2023 economic survey, people working in the information and communication industry, on average, earn a cumulative salary shy of a million shillings every year.
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Finance and business management is another field that has experienced significant demand in 2023. Admittedly, it is a broad industry with many jobs and careers. Any career that is concerned with business finances and the management of the business falls in this bracket. Some of the careers include,
Cashiers, clerks, insurance brokers and agents, and business service agents were the most popular career options in the finance and business management industry. Nevertheless, the average earnings for individuals working in the sector averaged about Ksh 1.5 to Ksh1.7 million annually.
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Engineering uses natural science, mathematics, and the engineering design process to solve technical problems, increase efficiency and productivity, and improve systems. It is a multidisciplinary field that involves the application of scientific, mathematical, and practical knowledge to design, create, build, and maintain structures, machines, devices, systems, and processes.
These are some of the types of engineering where one can build a career:
While engineering is an elite career with a lot of demand, some fields have more demand than others. The top fields in terms of demand in Kenya in 2023 are civil, mechanical, electrical, and electronics engineering.
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The transport, distribution, and logistics industry is an essential one that encompasses a myriad of careers and jobs. This industry ensures we get access to all the necessities and niceties of life. Careers in this industry include:
Jobs in this industry must be listed in a variety of ways. However, the most in-demand jobs in the industry include truck drivers, clerks, and business agents. The average person working in the industry will likely take home about Ksh1.3 million annually.
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The legal industry is quite a robust industry. Many people know of lawyers and judges. However, there are a multitude of careers one can have in the legal sector. These include:
Working in the legal industry, you get to work with many other industries, as your work will be representing other individuals and companies in legal matters. Hence, the demand for the industry is still high.
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We have highlighted just a few industries that have experienced significant demand in 2023. That means that there are other industries you can benefit from. Therefore, do not be discouraged if your industry has not been mentioned.
What is important is that there is still an opportunity for you to earn handsomely in any industry. Here are a few tips to earn robustly while working in your industry.
Study your industry to identify the skills that are in high demand within the industry, and start equipping yourself. With the rate at which technology is growing, you can project the skills that will be in high demand in the next one, three, or five years and start learning today. With more advanced skills, you deliver more value and consequently earn more.
It is excellent that you have a job in a given industry, but do you have networks in the industry? It is through networks that you will learn industry trends, industry politics, and industry insights. Once you network, you become plugged into the industry, people get to know you, and you know people, too. It is through networking that you can hear of new opportunities that you can take advantage of and earn more from them.
There is a Swahili proverb that says, “Chema cha jiuza, kibaya cha jitembeza,” losely translated to something good sells itself while something bad disqualifies itself. This means that if you are competent at what you do and you perform at the highest level, there is a high likelihood that you will increase your income either by being hired by an employer who is willing to pay more or being promoted within your company.
Sometimes, what you need is to present your case better. Most people get paid whatever the contract says, and they get comfortable. However, it is good practice to find ways to renegotiate your income depending on your performance at work.
Furthering your education, either by advancing education or taking professional courses, will help you unlock new earning levels in your industry.
As we head into 2024, thinking about your earning capacity is commendable. Whereas there are industries that are experiencing significant demand, that should not limit you from working on yourself and your career to generate significant demand for yourself.
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