Some of the jobs that pay $5 million dollars a year aren’t white-collar jobs, and they’re right on this page. These jobs can even generate much more than $5 million every single year. However, you’d need an enormous amount of money to even get started with them. If you’ve got the money to scale them, the better too. But then, it’ll take some time for them to grow naturally. It also largely depends on how much time you’re willing to put aside to develop them. Five million dollars a year means a monthly income of $416k dollars.
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And while this is a lot of money for a single month, launching any of these self-employed jobs which would later transition into full-time businesses can generate this much money. Without further ado, here are 7 top self-employed jobs that pay $5 million dollars a year.
7 Best Jobs that Pay $5 Million Dollars a Year in the Real World.
E-commerce is very lucrative, and you can definitely generate $5 million with an e-commerce business of your own. It’s realistic, but it’ll cost an enormous amount of money for you to start up an e-commerce business that generates a lot of money. Looking at the likes of Amazon and eBay, it’s easier said than done. This is because there are multiple other ecommerce businesses out there in the competition you may need to really think smart to outwit. However, if you’re looking to make about $50k/month or $1 million dollars a year, you can grow gradually with an e-commerce business. It’ll take time. It’ll take years.
So the first thing you want to do is to pick a niche for your ecommerce business. This would mean determining what you’d want to do with the store, what you plan to see, and to choose between launching an ecommerce website for virtual products, physical products, or both.
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2. Social media software/app.
Launch a social media software of your own. And while it may not be the next big thing, it’ll definitely generate tons of money for you. Tiktok, Twitter, Instagram, Facebook, there’s Telegram, and there could be more. Just know you’d be spending a boatload of money on marketing to make your social media app or software go viral. If you want to beat the big dogs, then you’ve gotta think outside the box. People will generally love your social media platform if it’s easy to use and has a database of seemingly interesting content.
You’ll integrate a lot of algorithms here and there to determine local content and serve content based on what people like to watch (just like YouTube), and focus primarily on influencer marketing to push your social network to the world. There’s gotta be essence for it. Much more than communication, what’s the core use? Creatively stitch up answers to these questions.
3. Online publishing.
Online publishing can generate $5 million dollars for you in a year. But then, it’s going to be a business like NerdWallet or Bloomberg. It’s still publishing where you’d need an enormous amount of content uploaded daily to drive monetizable traffic. It’s lucrative, and doable. First off, you’ll need to start a blog and have your writers ready to crank out an insane amount of content every single day for the first 1 year. So, if you’re launching your blog, you’ve gotta make it the right name and something that’s not extremely long. The blog name has to be short and memorable. Since you’re starting out early, you’d want to make sure you’re not taking the early days for granted. Pick a niche, and stick to “content manufacturing”. This would be publishing content aggressively. You could publish a total of 300 blog posts every single day. And to get the best results, these articles would need to be of top quality.
Talking about 2,000+ words with at least an image (even if I’m not a big fan of blog post images). 300+ blog posts in a day equates to 9,000+ blog posts in a month. And by the end of one year, you already have 108,000 articles. Like it or not, you’d be getting close to 1 million unique visitors every single day. Or a minimum of 15 million visits per month. Now, that’s some crazy traffic. Going by ad monetization alone and with an EPMV of $5, that’s $300k every single month. Remember, it’s just the first year. And if you keep at this, you can expect to get 2× your monthly traffic in the second year.
This is easier said than done. And you’ll need to have some skilled writers to hit 300 posts per day. With 30 writers, that’s 10 articles per writer. And with 60 writers, that’s 5 articles per writer. The more writers you have, the more quickly you’d be able to produce content, and more traffic you’ll be able to magnet, and the more money you’d essentially be able to generate.
4. Gaming app.
Launch a gaming app, and you won’t regret it. Honestly, it’s one of many things that can make you a millionaire. Or a billionaire. A gaming app is not the easiest thing to build. You just need to have an idea for a game and there’s someone out there to help you build it already. The work? Get the idea and make a brief about it. Plus, the game’s gotta be addictive. If it’s not addictive, then a lot of people won’t become really fond of it. Games are developed online to fuel addiction.
And the more addictive people get to your stuff, the more money you’re going to make. Once you’ve got a game that’s super cool and addictive, then you can market it everywhere on the web. From PlayStore to Apple Store, there’s a long list of places to list your game on. Plus, the monetization techniques aren’t narrow too. You can choose to monetize your game in the most effective way.
5. Crypto exchange.
If you’re able to build a crypto exchange like Binance or Coinbase, or Blockchain, then you can make yourself super rich. These apps generate over $5 million in a single month. And some top dogs in the crypto space generate $5m in a couple of days. It’s a lot of money and work to get something like this. And when you’re not spending a shit load of money to make the app work, there’s the need to market it stupendously.
One thing comes first when talking about starting a crypto exchange. And that is your knowledge of how crypto works. If you’re completely naive about crypto, and it still sounds like a mysterious word to you, then you’ve got some learning to do. Fully understand how the crypto world works, and then you can capitalize on that knowledge to build an exchange, a wallet, or even a coin of your own to serve a use case.
6. Ride-sharing app.
Uber is the perfect example here, and if you’ve got money, then you can make something else to conquer Uber. It’s a billion dollar company already, and it’s making much more than $5 million, not every year, but every single month. And you can’t tell, but there’s no way Uber makes $5m/year. It’s way above that. Maybe 5×, or 50×. I’m not saying you’ve gotta mimic Uber. Create your ride-sharing app and excel. So, maybe you want to play with your colors, make your ride-sharing app more user-friendly, and make it more profitable.
If it’s still a ride-sharing app, it’ll stand out if drivers can make more money and if users can pay less for trips. It’s a puzzle here. This is because, if drivers earn higher, it’s only because users are paying more. But if users pay less, they’ll like it even more, and then the drivers would earn less. Stick up an idea to make both parties benefit evenly.
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7. Real estate software/app.
There’s a ton of softwares on the web, but with real estate softwares like Airbnb, you can make $5 million dollars a year. Developing something like this will cost money and time. And even more money to get users, and make business happen on it. Airbnb has tons of users, and they make money passively from every single booking that happens on the site.
From research, Airbnb generated more than $5.9 billion dollars in service fees alone. That’s just one company, and you can do the same if you’ve got the money to not just launch a simple apartment booking/leasing app/software like Airbnb, but the money and resources to promote it to the ends of the earth.
7 Best Jobs that Pay $5 Million Dollars a Year in the Real World – Final Words.
In summary, the realistic self-employed jobs that pay $5 million dollars a year include ride-sharing app development, real estate software solutions, crypto exchange development, e-commerce development, social media software development, and building a gaming app. And while there are other self-employed jobs or businesses that can generate upwards of $5m every single year, these definitely join in on the big list. Just a hint here, don’t expect to become a millionaire with a white-collar job. Maybe you can get some really high paying white-collar job, but don’t expect them to pay you life-changing money.
Unless you’re a hedge fund manager or some stockbroker, the odds of building wealth with a white-collar job are pretty low. Even with juicy white-collar jobs, the odds of generating $5 million a year or getting paid this amount is unrealistic.
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