Ah, the proverbial question that is asked almost automatically when meeting a new person. More often than not, they’re simply asking so they make assumptions about you.
Oh, he’s in finance so he must make good money, be good with numbers and…boring, maybe even a bit nerdy. She’s a sculptor so she must be poor, but interesting and creative. In reality, putting people in clear-cut boxes never seems to work.
My answer, “I’m in IT consulting” draws a combination of blank stares, yawns and incorrect assumptions. I’ve actually had people react by saying something to the effect of, “but you don’t look like you’re in IT”. Right. I’m intentionally vague because I used to be specific, but got tired of explaining my specialization.
Artists and other “creatives” are often the first ones to dismiss my job as boring. Sure, I may not have this guys job, but my work offers several benefits that I’m thankful for (freedom and flexibility being two that immediately come to mind).
Next time someone asks me what I do, I’m going to politely tell them I’m an adult entertainer. End of conversation.

You know, the entire reason I went back to grad school is so that, some day, I’ll be at a cocktail party and somebody will say, ‘What do you do?’ and I’ll say, with suave assuredness, ‘I’m a Professor of Archaeology’, and the 10 years of school will have paid off when they assume I spend my days stealing golden idols from tombs and fighting the forces of darkness. Preconceived notions work in some people’s favor… just not responsible people’s.
Sadly, my notion of any type of professor is writing a lot of boring research papers and teaching lower level 101 courses they’d rather not teach.