These Jobs Are the Best To Keep Up With Inflation
Written by
Jordan Rosenfeld
Edited by
Molly Sullivan
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As the cost of living continues to rise, finding a job that keeps pace with inflation is more important than ever.
While some careers struggle to keep up with soaring prices, others offer better stability, higher wages and growth potential that can help protect your financial future. If you want to stay ahead of rising costs, choosing the right job can make all the difference — here’s where you should look.
Financial Advisors and Other Finance Jobs
If there’s one part of life people always need support with, it’s managing their finances, according to Spencer Montgomery, CFP, managing director and wealth management advisor at Northwestern Mutual.
“During times of inflation and economic uncertainty, people are very likely to seek financial advice from a professional,” he said.
Indeed, according to the Bureau of Labor Statistics (BLS), among the jobs expected to have the most growth by 2033, financial manager jobs are projected to grow by 16.5% and accountants and auditors by 5.8% in the same period.
What Montgomery likes so much about finance is that you don’t necessarily need a finance background to become a financial advisor, for example. His degree is in organizational communication.
“I just knew I really liked people and being around people and building relationships. And so when I came into this career, it was more about the right training and development for me to be successful.”
He knows other advisors who’ve come from “diverse background careers” such as construction, the nonprofit sector and even a former baseball player.
“Being able to run your own business and organize your own schedule can be really attractive to some people. And I tell everyone, I don’t think the career is for everyone, but for the right people, I think it could be a rewarding experience that has high impact and high income and it’s not very common in the job landscape that you see today.”
Lawyers and Legal Careers
Montgomery also has seen a lot of his clients doing very well in the legal field — particularly lawyers, but there are plenty of law-adjacent careers such as legal aide, law clerks and court reporters that are also needed in the judicial system.
“I think the society that we live in, the litigious nature is not going away from what I’ve seen. I’m not an expert in law by any means, but they seem to be doing fine.”
BLS projects jobs for lawyers will grow 5% by 2033, and paralegals and legal assistants by 1% in the same time frame. While the latter may not take home the big salaries of lawyers, these jobs don’t typically require a college degree, and the income range can run from around $60,970 to $98,830.
Healthcare Jobs
Another industry that remains in demand is healthcare, Montgomery said. “I was actually just reading an article the other day about healthcare roles being recession proof because we’re always going to need it.”
Indeed, medical and health services manager jobs are among those with the highest growth potential by 2033, projected to rise by 28.5%. Home health and personal care aids are projected to grow by 20.7%, and registered nurses are expected to grow by 6%, according to the BLS.
In general, he said, the jobs most likely to beat inflation are those in areas where people’s need for those services rarely declines.
Assess What Inflation Means to You
If you’re not sure if you’re in a job that is keeping up with inflation, Montgomery suggested educating yourself on what inflation means to you and your job or industry. That means looking at economic signals, assessing your own skills — and improving them if need be — and trying to determine how well situated your industry is to economic hardships.
Inquire, but Don’t Count On Raises
Additionally, it’s worth trying to find out before taking a job if your company offers cost-of-living raises, regardless of raises or bonuses, which is one way to keep up with inflation, Montgomery said.
Montgomery has noticed “a lot of the cost of living increase actually comes from more public entities, like universities or government organizations and agencies. The private sector doesn’t really keep up with cost of living as much.”
While no one can fully predict the economic impact of decisions, choosing from jobs in these fields and building in safety nets like emergency funds and diversified income streams can help you stay ahead of rising costs.
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