Six-Figure Jobs You Don't Have To Go To College For

Looking for a six-figure job without a four-year degree? These six lines of work boast potentially hefty paychecks without a traditional diploma. The data below is provided by payscale.com and represents the benchmark cash earnings for high-earners (75th percentile), as well as the 90th percentile within the field for the year 2008.

1. Air Traffic Controller
75th percentile: $156,000
90th percentile: $186,000

Air traffic controllers monitor and direct air traffic to ensure the safety of all parties involved in private and commercial flights. Their direction keeps planes from colliding and can also lead to more efficient flights and fewer delays. In some countries, air traffic controllers are also used for defense purposes. The high salary of an air traffic controller comes with a huge amount of responsibility.

Prospective air traffic controllers must have four years of college or at least three years of full-time employment. Education and work experience can be combined to meet the requirement. Completion of the Federal Aviation Authority's Air Traffic-Collegiate Training Initiative (AT-CTI) program can also be used in place of college. AT-CTI schools offer two or four year programs.

2. Real Estate Broker
75th percentile: $151,000
90th percentile: $187,000

Real estate brokers bring together buyers and sellers in order to complete property transactions. They differ from real estate agents in that brokers are allowed to manage or own their own firms.

In order to become a broker, a college degree is not required. However, each state requires a specific number of hours of course work in order to obtain a real estate agent's license. Agents can typically obtain a brokerage license after three years of industry experience. (There's no guarantee that realtors will act in your best interest, but it may be worth hiring one anyway. Find out more in Do You Need A Real Estate Agent?)

3. Plumber or Pipefitter
75th percentile: $94,500
90th percentile: $130,000

Plumbers and pipefitters assemble, install and make changes in pipe systems used to carry water, steam, air, and other liquids and gases. They may also install bathtubs, toilets, heating and refrigerating units.

Although these lines of work have many similarities and workers skilled in one area are often skilled in the other, the trades are often identified as separate. Either way, high earnings potential exists without a college degree. Even though a four-year degree is not required, an apprenticeship may take just as much time to complete. The typical apprenticeship lasts four to five years.

4. Construction Superintendent
75th percentile: $97,400
90th percentile: $116,000

Construction superintendents are involved in multiple phases of construction projects. They participate in the planning process, as well as scheduling, budgeting and implementation. Construction superintendents rely on supervisors to keep them informed of a project's progress. (Want to learn more? Check out 10 Careers With Great Job Prospects.)

No degree is required, but years of construction work are necessary in order to rise to the level of manager or superintendent. More than half of the construction superintendents in the United States are self-employed. Although formal education may not be required for a supervisory role, coursework in construction science, civil engineering or building science can be a plus.

5. Radiation Therapist
75th percentile: $95,100
90th percentile: $116,000

Radiation therapy is a method of treating cancer. Radiation therapists record, interpret and administer the prescribed course of treatment. Their job responsibilities include using x-ray technology to locate tumors, using radiation technology to administer treatment and monitoring a patient's response to treatment. The work of a radiation therapist involves heavy interaction with oncologists and patients.

In lieu of a four-year degree, employers typically require applicants to complete an associate's degree program and/or certification in radiation therapy. Requirements vary depending on your location, but most radiation therapists are required to become certified by the American Registry of Radiologic Technologists (ARRT) and licensed at the state level in order to practice.

6. Ultrasound Technologist
75th percentile: $82,500
90th percentile: $110,000

Ultrasound technologists operate machinery which uses sound waves to produce images of a patient's internal organs and tissues. The images are ultimately viewed and analyzed by physicians for diagnosis of possible medical problems. Ultrasound technologists work primarily in hospitals or diagnostic imaging centers and their job involves interaction with patients and doctors.

A typical ultrasound technologist program is a two-year course of study. In addition to completing the program, registering with the American Registry of Diagnostic Medical Ultrasound Technologists (ARDMS) can improve chances of employment, as well as advancement in level and pay.

The Bottom Line
The path to a six-figure salary does not necessarily have to include a traditional degree, but it will more than likely include some form of education, whether it means obtaining industry specific certifications or adhering to continuing education requirements. Regardless, it will involve hard work and hands-on experience, and in some instances, a substantial amount of overtime. (Keep an eye on jobs on the way out. Don't miss The 9 Worst Career Choices Right Now.)

Should your 401(k) be in an annuity

Statistics indicate that a growing number of 401(k) plans in America are either housed entirely inside a variable annuity contract or else offer this as one of the chief investment alternatives. However, this practice has been the source of debate among both professionals and regulators for many years. There are many pros and cons for employers to consider when deciding whether or not to offer, or invest in, a group annuity contract inside a retirement plan. (For a review on variable annuities, read Getting the Whole Story on Variable Annuities.)

Advantages of Annuities in 401(k) Plans

Insurance
Financial planners and investment professionals who espouse the use of variable annuity contracts inside 401(k) and other tax-deferred retirement plans usually base their argument on safety. After all, the two largest assets of most middle-class households are the house and the 401(k) or other employer-sponsored plan. But homeowners are required to carry insurance on their houses by most mortgage lenders, if not state law. Therefore, why not insure their future retirement security as well?

Variable annuity contracts can provide this protection inside any type of defined-contribution retirement plan through income and death benefit riders that can guarantee a minimum payout or contract value under certain conditions. This can be a huge advantage to a worker who has accumulated substantial assets and is retiring in a down market.

Market Protection
Someone who purchased an income benefit rider inside the annuity contract in their retirement plan could enjoy an income stream based on a guaranteed rate, even if this payout far exceeds that which could be generated from the actual balance in the plan. Recent market turbulence has only served to strengthen this argument; millions of workers nearing retirement nationwide have discovered that their plan balances are now too low to provide them the income they need when they stop working. Furthermore, in addition to providing protection to your beneficiaries, the variable income stream provides an inflationary hedge.

Portfolio Rebalancing
Most variable contracts now offer dollar-cost averaging programs that place the initial balance of the contract inside a fixed account that pays a high rate of guaranteed interest. The assets are then reallocated inside a preselected mix of mutual fund subaccounts and moved into these funds on a systematic basis, such as in equal portions over six or 12 months.

Another common feature is portfolio rebalancing, which starts with a set allocation of assets among the various subaccounts of the contract according to the investor's objectives and risk tolerance. Then the portfolio is periodically reset on a regular basis, for example every month or quarter. Shares of better performing subaccounts are automatically sold and the proceeds used to purchase shares of underperforming funds, thus preserving the investor's original asset allocation.

Comparable services by professional money management firms can cost up to a percent or two of assets, while these features are included in the costs inside most variable contracts offered by major carriers today. (Variable annuities can be helpful no matter how old an investor happens to be. Learn how best to use them at each stage of your life. Read Variable Annuities: They're Not Just For Seniors.)

Disadvantages of Annuities in 401(k) Plans

Cost
Detractors of using variable annuity contracts inside retirement plans usually cite cost as the main detriment to this strategy. Although the income and death benefit riders can provide important protection to plan participants, these measures of security come at a cost that can substantially reduce the investment gains in the plans.

Guaranteed riders can cost over 1% of assets per year, and variable annuity contracts contain other fees and charges as well. Most contracts also charge an annual maintenance fee if the contract balance becomes less than specified limits All variable contracts also charge a mortality and expense fee of up to 1.6% that covers the general insurance protection in the contract, such as the guaranteed lifetime payout provided the retiree annuitizes the contract. Annuity contracts also usually contain a back-end surrender charge schedule that can last for several years and charge as much as 7-10% in the first year, although they may allow for limited withdrawals in the first years without penalty.

Tax Deferral
Another common complaint is that the tax-deferred status inherently accorded to all annuity contracts fails to provide any additional benefit, since all defined-contribution plans are already tax-deferred by nature. Annuity contracts can also pose limitations on the investment choices available to plan participants, as only the subaccounts that exist within the contract can be used. Retirement plans that do not use annuities may have a much wider range of alternatives in some cases, depending on the platform and custodian that they use. (For more information about the costs associated with variable annuities, refer to The Cost Of Variable Annuity Guarantees.)

When Should an Annuity Contract Be Used?
Annuities may be particularly useful for older employees who are nearing retirement and need to think about protecting their assets more than making them grow. Younger employees who have more than 10 years to go before retirement may find the additional costs of the insurance riders to be a real drag on their portfolio performance.

Contracts can also vary substantially in terms of costs and fees, as well as the selection of investment subaccounts and their performance over time. Employers should weigh the costs and fees against the historical performance of the subaccounts in a given contract, and also take into account the demographics of their employees. Companies with a large percentage of older workers may be more attracted to a plan that provides some insurance protection against market downturns, while firms with younger employees may consider this unnecessary.

The Bottom Line
There are many factors to consider when evaluating the effectiveness of variable annuity contracts inside 401(k) and other tax-deferred retirement plans. However, the real issue that must be resolved is whether the cost of the features and services provided by a given contract are justified by the benefits received. A comprehensive analysis of contracts and plans available from several different carriers, as well as a comparison of other non-annuity plans may be necessary in order accurately determine the best course of action for a given company.

Employees who are not sure of what features and riders they should employ in their plans should consult their financial planner or human resources advisor. (401(k) plans managed by the wrong people can be hazardous to your future! Fore more information read Is Your 401(k) Being Mismanaged?)

The food industry has been criticised for being secretive about its use of nanotechnology by the UK's House of Lords Science and Technology Committee.

Lord Krebs, chairman of the inquiry, said the industry "wants to keep a low profile" to avoid controversy.

While there were no clear dangers, he said, there were "gaps in knowledge".

In its report Nanotechnologies and Food, the committee suggests a public register of foods or packaging that make use of nanotechnology.

Nanotechnology is the use of very small particles - measured in the billionths of a metre. At these sizes, particles have novel properties and there is active investigation into how those properties arise.

While nanotechnology is already widely employed - in applications ranging from odour-free socks to novel cancer therapeutic methods - they have long been regarded as a subject requiring further study to ensure their safety.

In the food sector, nanotechnology can be employed to enhance flavour and even to make processed foods healthier by reducing the amount of fat and salt needed in production.

Open standards

Peers said in the report that they found it "regrettable that the food industry was refusing to talk about its work in the area".

“ We are not clear what is out there in use at the moment ”
Lord Krebs

They added that it was exactly this behaviour that could prompt public backlash against the use of a technology that could bring many benefits to the public.

Lord Krebs said that the industry was "very reluctant to put its head above the parapet and be open about research on nanotechnology".

"They got their fingers burnt over the use of GM crops and so they want to keep a low profile on this issue. We believe that they should adopt exactly the opposite approach. If you want to build confidence you should be open rather than secretive."

As part of this process, the committee recommends that the Food Standards Agency should have a publicly available register listing food and packaging that use nano-materials.

Julian Hunt, director of communications for the Food and Drink Federation, said he was "surprised" by the criticism.

"Understandably, there are many questions and unknowns about the potential future uses of nanotechnologies in our sector, and there is much work still to be done, by scientists, governments and regulators, as well as the food and drink industry," Mr Hunt said.

"We support the report's recommendation for the formation of an open discussion group to bring more transparency that we know is important to consumers, and indeed we are already engaged in such initiatives, both at UK and EU level."

The Project on Emerging Nanotechnologies, run by the Washington-based Woodrow Wilson International Center for Scholars, has found that there are currently 84 foods or food-related products that use nanotechnology.

The Food and Drink Federation says that none are currently manufactured in the UK.

'No clear danger'

However, Lord Krebs says he and his colleagues are concerned that because of industry secrecy, it is hard to really know the true extent of the use of nanotechnology in food.

"We are not clear what is out there in use at the moment," he said.

The report says that there is likely to be an "explosive growth" in the use of the technology.

Currently the market is valued at $410m (£260m), but the report estimates it will increase more than ten-fold in the next two years.

The report also says insufficient research has been carried out into the safety of the use of nanotechnology in foods. It urges the government to commission more research on the behaviour of nanomaterials, particularly in the gut.

"There is currently no clear and present danger from nanotechnology," according to Lord Krebs.

"But there are significant gaps in our knowledge for regulators to adequately assess the risk of nanomaterials in food."