SoFi

Clothing is an often overlooked expense when planning a budget, but pretty much everyone has to spend some money on clothes for work, off hours, and social occasions. Whether you are a trial attorney who needs a wardrobe full of quality suits or a landscaper who gets good and muddy, there are ways to buy clothing without spending a fortune.

Here, learn what factors go into retail pricing, where to buy quality clothes, and how to snag some bargains.

Understand What Goes Into Retail Pricing

Fashion brands establish pricing on a cost-per-unit basis. The final retail price is set by factoring in various expenses and business strategies, such as manufacturing and material costs and marketing and branding expenses.

Manufacturing Costs

The cost of raw materials, labor, packaging, and shipping are obvious factors that determine the price of clothing. But pricing is more nuanced than that. Popular brands or high-end brand names will set higher prices for their products on the assumption that they offer higher quality and better designs. There are also marketing costs to consider.

Brand Reputation

Whether a brand is perceived as a luxury brand, like Versace, or a value brand, like those sold at big box stores, will play a large part in pricing. For example, LuluLemon is a popular, in-demand brand that can price its clothing at the higher end of the scale. Sometimes a popular in-demand brand will have to slash its prices because it no longer holds the prestige it once did.

Supply and Demand

Supply and demand is a huge factor affecting the final price of a product. If a style, product, or brand is in demand, retailers can mark up the prices substantially. The fact that there is not enough to go around means people will likely pay more. (Inflation can be part of this equation, too.)

However, if the supply exceeds demand, retailers will have to drop the price to try to encourage sales so they are not left with inventory they cannot sell.

The Distribution Chain

Another factor in the price of clothing is the distribution chain. Some brands manufacture their own clothing and sell exclusively through their own retail outlets, which can help them keep the price lower. Warby Parker is an example of a retail brand that sells exclusively through their own retail outlets and website.

This business model means fewer add-on costs for the consumer. However, most brands sell through selected independent retailers who add on their own margin. Retailers set the final price by implementing their own desired markups, as well as any subsequent promotions and discounts to ensure they aren’t left with inventory.


💡 Quick Tip: Online tools make tracking your spending a breeze: You can easily set up budgets, then get instant updates on your progress, spot upcoming bills, analyze your spending habits, and more.

Seasonality

Some fashions are in demand for a season only and can be priced high until they lose their popularity. At that point, the price will drop or clothes are sold in a clearance sale as retailers try to get rid of old inventory.

You can save money by buying clothes in the off-season or when they are sold on clearance. There are also other ways to make sure you’re not blowing all of your budget on clothes.

Make Use of Coupons

Coupons are a sales strategy for retailers, but they also benefit the consumer. Consumers can shop online for less using coupons and other sales discounts. The buyer inputs a coupon code when they check out, and that code initiates a discount on the price.

Coupons can be found on many websites such as Saving Says, RetailMeNot, and SlickDeals. Also, many brands offer a discount if you sign up for their email list.

Buy Clothing from Consignment Stores and Thrift Shops

Buying second-hand clothes is one way to find quality clothes while sticking to a budget. Thrift shops and websites that sell pre-owned clothing are growing in popularity, particularly because of consumer interest in sustainable practices and brands that support the environment.

ThredUp is a popular online consignment and thrift store where consumers can buy and sell high-quality secondhand clothes. Other ideas for where to buy good quality clothes for less include ASOS Marketplace, Buffalo Exchange, Depop, Etsy, Poshmark, and Vinted.

Recommended: Guide to Selling Used Items

Buy During the Off-Season

Avoid buying on impulse by purchasing clothing in the off-season when you can find quality items on sale. Retailers want to get rid of stock when products are not in season. For example, few people are looking to buy ski gear in the height of spring or summer. Because there may be more supply than demand for ski gear at that time, retailers will reduce the price and sell the clothing at a discount.


💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.

Look for Clearance Sales

Fashion trends typically last one season, and then new styles and products appear on the market. Retailers may find themselves with too much inventory going into a new season. To sell the inventory and not lose too much money, they will sell items in clearance sales, often with slashed prices.

Also, certain retailers are known for having regular sales cycles, such as the Gap and Old Navy. These can be good resources for where to buy good quality clothes on sale.

Consider Alternative Fabrics and Materials

Why does one t-shirt cost $50 and another $15? It could be because the $50 t-shirt has better quality fabric. Similarly, a pair of boots made of leather will be more expensive than a pair made of synthetic leather. In some cases, you might pay more for an item of clothing made of more durable or breathable materials. Investment pieces may be made of finer materials and crafted with more care to last longer.

However, if an item is serving a short-term fashion need, the quality of materials may be less important.

Also, less pricey synthetic materials may get a bad rap. For example, faux leather may be considered an unsuitable material for a shoe because it is unbreathable and less durable. Polyester is often compared to silk and is lambasted for not being “natural.” However, faux leather footwear may appeal to vegans, and polyester blouses last a lot longer than their silk counterparts. So, don’t discount alternatives.

Recommended: High-Paying Vocational Trade Jobs

See Before You Buy

If you do opt for the less expensive option, you might want to see the item before you buy it. If the item is too cheap and flimsy, it won’t last long. Check the seams and the hems to see if the stitching is acceptable, and check that the zip works. Buying a reasonably priced item of clothing is one thing, but there is such a thing as too cheap.”

Buy Less, Buy Better

Buying fewer clothes will save you money, so you might think about items to save up for, perhaps one or two quality pieces that will last the test of time. You can pair those quality and timeless pieces with other less expensive items. For example, a couple of quality suits for work can be paired with a number of blouses or shirts that come from a mid-range retailer. You can also build a wardrobe based on a basic color, like black or blue, so that all of your clothes can be mixed and matched.

Note: Also remember to note care labels when purchasing clothes. Those that say “Dry clean only” mean they will cost you more over their life in cleaning than those that can go in the washer or be hand-laundered at home.

Recommended Brands

Some mid-price quality fashion brands recommended by experts are COS, Everlane, H&M, Land’s End, LL Bean, and Uniqlo.

The Takeaway

Dressing well does not have to be a wallet-busting affair if you know where to buy quality clothes and which strategies to follow. In some cases, it is better to pay more for an item that will be durable and serve its purpose rather than to buy something cheap and experience frustration when it doesn’t wear well. However, even then, you can find discounts by using coupons, searching for clearance sales, buying second hand, or buying off season.

Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.

See exactly how your money comes and goes at a glance.

FAQ

Where to buy cheap good quality clothes?

Consignment stores and thrift stores are good places to buy good quality clothes for cheap. If you want to buy new, popular mid-range fashion brands are COS, Everlane, H&M, Land’s End, LL Bean, and Uniqlo.

How do I not spend all my money on clothes?

Avoid spending too much money on clothes by setting a budget and sticking to it. Also, don’t buy on impulse and focus on buying a few classic, high-quality pieces to match with less expensive tops and accessories. Build your wardrobe around a color so that you can mix and match and get more wear out of your clothes.

How can I be fashionable on a low budget?

The trick to being fashionable on a low budget is to choose a few quality items that you can pair with inexpensive, trendier items.

---

Photo credit: iStock/pixelfit

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

SORL0324012

Read more

The average barber’s salary is $52,123 a year, according to the latest data from ZipRecruiter. But barber salaries can range from about $17,500 to more than $86,000.

How much money you can make as a barber may depend on several factors, including education, certifications, experience, and where you’re located. Here’s a look at what barbers do and how they get paid.

What Are Barbers?

A barber’s main job is to cut and style hair, usually for male clients. Barbers also may trim or shave facial hair, fit hairpieces, and provide hair-coloring services.

To become a barber, you must obtain a license in the state where you plan to work. Licensing qualifications can vary, but you’ll likely have to meet a minimum age requirement, have a high school diploma or equivalent, and have graduated from a state-licensed barber program. You may also have to pass a state licensing exam.

A barbershop often doubles as a social hub where men can go to swap stories and catch up on the latest news while they enjoy a little personal care. If mingling with clients all day isn’t your thing, you may want to check out jobs with less human interaction.


💡 Quick Tip: Online tools make tracking your spending a breeze: You can easily set up budgets, then get instant updates on your progress, spot upcoming bills, analyze your spending habits, and more.

How Much Do Starting Barbers Make?

An entry-level salary for a barber can range from $8.41 to $41.35 or more an hour, according to ZipRecruiter. Brand-new barbers tend to earn the highest hourly wages in New Jersey, Wyoming, and Wisconsin.

Recommended: What Trade Jobs Make the Most Money?

What Salary Can a Barber Expect to Make?

Barber jobs in the U.S. can pay anywhere from $17,500 to $86,000 or more, according to ZipRecruiter data. How much you can expect to make may depend on several factors, including how many hours you work and how many clients you serve; if you live in a region with more competitive pay; and if you work on commission, rent a chair at a shop, or own your own barbershop.

Here’s a look at the average barber’s income by state.

State	Average Salary for a Barber
Alabama	$49,572
Alaska	$53,033
Arizona	$50,968
Arkansas	$40,073
California	$46,632
Colorado	$50,860
Connecticut	$47,890
Delaware	$48,177
Florida	$40,869
Georgia	$46,181
Hawaii	$51,460
Idaho	$44,515
Illinois	$46,962
Indiana	$52,044
Iowa	$47,980
Kansas	$44,493
Kentucky	$42,214
Louisiana	$44,134
Maine	$45,672
Maryland	$46,693
Massachusetts	$53,224
Michigan	$42,137
Minnesota	$50,551
Mississippi	$47,266
Missouri	$45,239
Montana	$50,200
Nebraska	$45,804
Nevada	$50,144
New Hampshire	$54,449
New Jersey	$53,861
New Mexico	$50,829
New York	$60,841
North Carolina	$43,866
North Dakota	$52,473
Ohio	$49,290
Oklahoma	$44,358
Oregon	$52,559
Pennsylvania	$55,714
Rhode Island	$48,681
South Carolina	$44,791
South Dakota	$49,593
Tennessee	$47,059
Texas	$44,130
Utah	$46,849
Vermont	$60,007
Virginia	$47,628
Washington	$53,744
West Virginia	$43,029
Wisconsin	$52,882
Wyoming	$53,101

Source: ZipRecruiter

Recommended: Highest Paying Jobs by State

Barber Job Considerations for Pay and Benefits

A barber’s compensation is traditionally set up in one of two ways:

•   Renting a chair or booth: Barbers who rent a chair at a barbershop pay the owner or franchise a fee for the space where they work, but they keep the rest of what they earn. This can give barbers more control over their work schedule and the services they choose to offer.

•   Earning a commission: Barbers who work on commission are paid a percentage of what they earn (typically between 40% to 70%). Or they could receive a predetermined hourly wage or salary plus a bonus commission. New barbers may choose to work a few years on commission to gain knowledge of how the business works and build a clientele, and then switch to renting a chair.

In addition, barbers can earn tips, usually about 15% to 20% of the price of a haircut or other service provided. Online tools like a money tracker app can help you keep track of your spending and saving from month to month.

Pros and Cons of a Barber’s Salary

As with any job, there are pros and cons to working as a barber, including:

Pros

•   Attending a barber school can take less time (usually a year or less) and is far less expensive than getting a college degree. Tuition is about $14,000 on average (not including books and supplies), but costs can range from about $4,000 to $25,000, depending on the program. Financial assistance may be available through federal or private student loans, grants, and scholarships.

•   Job prospects for barbers are good. According to the U.S. Bureau of Labor Statistics, employment for barbers is projected to grow by 7% over the next decade, which is faster than the average for all occupations.

•   Popular barbers often can work the hours they choose while serving clients who appreciate their creativity — and reward them with their loyalty and generous tips. If you like the idea of becoming an entrepreneur, you may even decide to start your own business someday.

Cons

•   It can take time to build a reputation and a reliable list of repeat customers. In the meantime, you may experience some income instability, and tips may vary from one client to the next. This could make budgeting and spending difficult at times.

•   As a barber, you may not receive the same employee benefits that other careers generally offer, including health insurance, a 401(k) or similar retirement plan, paid sick leave, or vacation pay. You might have to work nights, weekends, or a fluctuating schedule that makes it hard to plan your social life. And you may have to pay for your own work tools.

•   You might also want to consider how long your career as a barber might last. Though it can be a fulfilling job, the work can be hard on your neck, back, hands, and feet.


💡 Quick Tip: We love a good spreadsheet, but not everyone feels the same. An online budget planner can give you the same insight into your budgeting and spending at a glance, without the extra effort.

The Takeaway

Your income potential as a barber will likely depend on where you work and the loyalty of your clientele. If you’re a creative and skilled stylist who likes keeping up with the latest trends, and you have good social skills, being a barber could be a great career choice. It also can help to have some business skills, as you may face unique challenges when it comes to managing your income, tracking your cash flow, planning for retirement, and paying taxes.

FAQ

Can you make $100,000 a year as a barber?

Once you establish yourself and build a solid clientele, you may be able to earn six figures as a barber. Your success, though, will likely depend on how in demand you are, how willing you are to travel or work long hours, the clientele you cater to, and if you own your own shop.

Do people like being a barber?

Though barbering can be hard work, barbers on Payscale.com gave their job an average of 4.2 stars out of 5. If cutting hair and providing other personal care services is your passion — and you’d enjoy building a bond with your clients — you could find a career as a barber is right for you.

Is it hard to get hired as a barber?

According to the U.S. Bureau of Labor Statistics, the job outlook for barbers should be solid for at least the next decade. If you get the proper training, become a licensed barber, and can demonstrate that you have the skills and demeanor for the job, it shouldn’t be too hard to find work.

---

Photo credit: iStock/dusanpetkovic

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

SORL0124043

Read more

The median annual salary for pediatricians is $198,420, according to the most recent data from the Bureau of Labor Statistics. There are many different paths a doctor can take when it comes to choosing their medical specialty. Doctors who enjoy helping children feel their best and live healthy lives will likely find a lot of fulfillment in their jobs.

To learn more about how much a pediatrician makes a year, keep reading.

What Are Pediatricians?

A pediatrician is a type of doctor who provides medical care to children ranging from infancy to adolescence. They specialize in diagnosing and treating injuries, developmental issues, and illnesses children commonly experience. From routine exams to issuing vaccines to providing medicine to sick children, pediatricians can help.

The path to becoming a pediatrician can be a long and expensive one. Typically, that means college, medical school, a residency, and possibly a fellowship. Medical school can easily cost $250,000 in tuition. It’s wise to consider this investment when pursuing a career as a pediatrician. Many doctors have a high amount of medical school debt when starting out.

Also, keep in mind that being a pediatrician involves interacting with children and their families all day. This may not therefore be the best job for introverts.


💡 Quick Tip: When you have questions about what you can and can’t afford, a spending tracker app can show you the answer. With no guilt trip or hourly fee.

How Much Do Starting Pediatricians Make a Year?

While pediatricians can eventually earn very competitive salaries, like any job, they tend to earn less when they are entry-level. The lowest 10% of earners in this role make just $75,670, which is significantly lower than the median annual salary for all physicians of $198,420.

What is the Average Salary for a Pediatrician?

On average, a pediatrician can make a salary that is considerably higher than the American average for all jobs. Where a pediatrician chooses to work can greatly impact how much a pediatrician earns. This is a quick glance at the annual mean wage for a variety of workplaces where a pediatrician may be employed:

•   Offices of physicians: $203,690

•   General medical and surgical hospitals: $180,790

•   Outpatient care centers: $232,420

•   Colleges, universities, and professional schools: $84,810

•   Specialty (except psychiatric and substance abuse) hospitals: $201,100.

Another factor that also affects pediatrician earning potential is the state the doctor works in. This table below highlights how average pediatrician salaries vary by state, with typical pay arranged from highest to lowest by location.

In addition, it shares how much a pediatrician’s hourly pay vs, salary is.

What is the Average Pediatrician Salary by State for 2023

State	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
Oregon	$222,171	$18,514	$4,272	$106.81
Alaska	$221,079	$18,423	$4,251	$106.29
North Dakota	$221,044	$18,420	$4,250	$106.27
Massachusetts	$218,405	$18,200	$4,200	$105.00
Hawaii	$216,375	$18,031	$4,161	$104.03
Washington	$211,404	$17,617	$4,065	$101.64
Nevada	$209,030	$17,419	$4,019	$100.50
South Dakota	$208,910	$17,409	$4,017	$100.44
Colorado	$206,290	$17,190	$3,967	$99.18
Rhode Island	$205,782	$17,148	$3,957	$98.93
New York	$196,083	$16,340	$3,770	$94.27
Delaware	$193,921	$16,160	$3,729	$93.23
Vermont	$191,477	$15,956	$3,682	$92.06
Virginia	$191,115	$15,926	$3,675	$91.88
Illinois	$191,057	$15,921	$3,674	$91.85
Maryland	$187,806	$15,650	$3,611	$90.29
Nebraska	$183,797	$15,316	$3,534	$88.36
Missouri	$182,659	$15,221	$3,512	$87.82
California	$182,152	$15,179	$3,502	$87.57
South Carolina	$181,082	$15,090	$3,482	$87.06
Pennsylvania	$179,627	$14,968	$3,454	$86.36
New Jersey	$179,258	$14,938	$3,447	$86.18
Oklahoma	$177,994	$14,832	$3,422	$85.57
Maine	$177,900	$14,825	$3,421	$85.53
Wisconsin	$177,526	$14,793	$3,413	$85.35
North Carolina	$177,345	$14,778	$3,410	$85.26
New Hampshire	$174,681	$14,556	$3,359	$83.98
Idaho	$174,250	$14,520	$3,350	$83.77
Texas	$173,077	$14,423	$3,328	$83.21
Kentucky	$172,518	$14,376	$3,317	$82.94
Wyoming	$171,910	$14,325	$3,305	$82.65
Minnesota	$171,467	$14,288	$3,297	$82.44
Michigan	$170,777	$14,231	$3,284	$82.10
New Mexico	$170,501	$14,208	$3,278	$81.97
Indiana	$169,638	$14,136	$3,262	$81.56
Ohio	$166,670	$13,889	$3,205	$80.13
Arizona	$166,130	$13,844	$3,194	$79.87
Connecticut	$165,286	$13,773	$3,178	$79.46
Mississippi	$164,126	$13,677	$3,156	$78.91
Iowa	$163,921	$13,660	$3,152	$78.81
Montana	$163,627	$13,635	$3,146	$78.67
Arkansas	$163,030	$13,585	$3,135	$78.38
Alabama	$161,584	$13,465	$3,107	$77.68
Utah	$159,236	$13,269	$3,062	$76.56
Tennessee	$159,121	$13,260	$3,060	$76.50
Kansas	$154,538	$12,878	$2,971	$74.30
Georgia	$150,529	$12,544	$2,894	$72.37
Louisiana	$149,706	$12,475	$2,878	$71.97
West Virginia	$138,728	$11,560	$2,667	$66.70
Florida	$133,219	$11,101	$2,561	$64.05

Source: ZipRecruiter

Pediatrician Job Considerations for Pay & Benefits

Alongside earning a $100,000 salary or more, most pediatricians also receive superior employee benefits. If a pediatrician runs their own practice, they will need to supply themselves and their employees with these benefits.

Those who are employed by employers like hospitals or medical groups can expect to gain access to benefits like paid time off, health insurance, and retirement accounts. They may also have unique benefits like continuing education allowances and malpractice insurance coverage.


💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.

Pros and Cons of Pediatrician Salary

The main advantage associated with competitive pay for pediatricians is that they are quite high. With a median salary of $198,420, pediatricians are greatly rewarded for their hard work.

However, they must pursue many years of higher education to earn that salary. Many young doctors struggle under the weight of their student loan payments. So, while this salary may seem high at first glance, much of it can go towards student loan debt initially.

It’s also worthwhile to consider work-life balance. Being a pediatrician and improving the health of children can be a very rewarding career, but it can also involve long, tiring hours and being on call for patients on nights and weekends. Medical problems and emergencies crop up all the time, so this is a factor to acknowledge.

Recommended: How Much House Can I Afford?

The Takeaway

Pediatricians can earn very high pay while making a big difference in the lives of their patients and their families. They do have to commit to many years of schooling and education to become a pediatrician, but once they do, they can earn a great living.

SoFi helps you stay on top of your finances.

FAQ

Can you make 100k a year as a pediatrician?

Most pediatricians make $100,000 a year or more, especially after gaining a few years of work experience. The median annual salary for a pediatrician is $198,420.

Do people like being a pediatrician?

Pursuing a career in pediatric medicine is a major commitment and those who are passionate about this field and patient care are likely to really enjoy their work. However, this role requires many hours of patient interaction a day, so even if someone finds the work fascinating, it won’t be a good fit for them if they are antisocial.

Is it hard to get hired as a pediatrician?

The main challenge in getting hired as a pediatrician surrounds not having the right credentials. Potential pediatricians must pursue medical school and any required medical licenses in order to find a job in this field, which is no easy feat.

---

Photo credit: iStock/alvarez

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

SORL0124039

Read more

The median annual pay for a sonographer is $78,210 annually for the most recent year studied, according to the Bureau of Labor Statistics. Working as a sonographer is a great way to enter the medical field without having to pursue an expensive advanced degree. Typically, only an associate’s degree is needed to work as a sonographer, which can be obtained quickly and affordably.

Read on to learn more about how much a sonographer can earn and what it’s like to work as this kind of professional.

What Are Sonographers?

A sonographer — also known as a diagnostic medical sonographer — uses sonography technology and tools to create images typically known as ultrasounds or sonograms. These images can give us a detailed look at organs and tissues within the body or of embryos and fetuses. There are many different types of sonographers who specialize in distinct areas of medicine, such as:

•   Abdominal sonographers

•   Breast sonographers

•   Cardiac sonographers (echocardiographers)

•   Musculoskeletal sonographers

•   Pediatric sonographers

•   Obstetric and gynecologic sonographers

•   Vascular technologists (vascular sonographers).

As briefly mentioned above, training for this career usually doesn’t involve medical school and its cost. Instead, diagnostic medical sonographers may obtain a bachelor’s degree, an associate’s degree, or perhaps a vocational school degree or hospital training program certificate. Some may be trained in the Armed Forces.

It’s also worth noting that working as a sonographer will likely involve a high degree of patient interaction. For this reason, it may not be a good job for introverts.


💡 Quick Tip: Online tools make tracking your spending a breeze: You can easily set up budgets, then get instant updates on your progress, spot upcoming bills, analyze your spending habits, and more.

How Much Do Starting Sonographers Make a Year?

Entry-level sonographers should expect their salary to be on the lower side until they gain more experience. The lowest 10% of earners make less than $61,430 per year.

However, the top 10% of earners working as sonographers make more than $107,730, meaning this is a career path that can lead to a job that pays $100,000 a year.

In addition to experience level, other aspects that can lead to competitive pay is your geographical location (big city vs. rural community) and whether the employer is a major hospital network, say, or a small, independent medical office.

Recommended: What Trade Earns the Most Money?

What is the Average Salary for a Sonographer?

Those who work full-time as a sonographer can expect to earn a median annual salary of $78,210. However, some sonographers choose to work part-time and are paid by the hour. In terms of how much a sonographer makes an hour, the median hourly pay for sonography work is $37.60 per hour.

Many factors can influence how much a sonographer earns and the state they work in is a major one. The following table illustrates how average sonographer salaries can vary significantly by state, with earnings shown from highest to lowest.

What is the Average Sonographer Salary by State for 2023

State	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
New York	$130,753	$10,896	$2,514	$62.86
Pennsylvania	$119,728	$9,977	$2,302	$57.56
New Hampshire	$117,077	$9,756	$2,251	$56.29
New Jersey	$115,302	$9,608	$2,217	$55.43
Wyoming	$114,058	$9,504	$2,193	$54.84
Washington	$113,902	$9,491	$2,190	$54.76
Wisconsin	$113,086	$9,423	$2,174	$54.37
Massachusetts	$113,082	$9,423	$2,174	$54.37
Alaska	$112,787	$9,398	$2,168	$54.22
Oregon	$111,873	$9,322	$2,151	$53.79
Indiana	$111,695	$9,307	$2,147	$53.70
North Dakota	$111,668	$9,305	$2,147	$53.69
Hawaii	$109,499	$9,124	$2,105	$52.64
Arizona	$109,385	$9,115	$2,103	$52.59
New Mexico	$108,705	$9,058	$2,090	$52.26
Colorado	$107,986	$8,998	$2,076	$51.92
Minnesota	$107,959	$8,996	$2,076	$51.90
Montana	$107,737	$8,978	$2,071	$51.80
Nevada	$106,643	$8,886	$2,050	$51.27
Alabama	$106,391	$8,865	$2,045	$51.15
South Dakota	$105,538	$8,794	$2,029	$50.74
Vermont	$105,369	$8,780	$2,026	$50.66
Ohio	$105,308	$8,775	$2,025	$50.63
Rhode Island	$103,621	$8,635	$1,992	$49.82
Iowa	$102,378	$8,531	$1,968	$49.22
Delaware	$102,241	$8,520	$1,966	$49.15
Connecticut	$102,051	$8,504	$1,962	$49.06
Virginia	$101,059	$8,421	$1,943	$48.59
Mississippi	$100,644	$8,387	$1,935	$48.39
Tennessee	$100,545	$8,378	$1,933	$48.34
Utah	$100,028	$8,335	$1,923	$48.09
Illinois	$99,727	$8,310	$1,917	$47.95
Georgia	$99,110	$8,259	$1,905	$47.65
Maryland	$99,089	$8,257	$1,905	$47.64
California	$98,791	$8,232	$1,899	$47.50
Nebraska	$97,188	$8,099	$1,869	$46.73
Maine	$96,740	$8,061	$1,860	$46.51
Missouri	$96,025	$8,002	$1,846	$46.17
South Carolina	$95,081	$7,923	$1,828	$45.71
Kansas	$94,735	$7,894	$1,821	$45.55
Idaho	$94,316	$7,859	$1,813	$45.34
Louisiana	$94,256	$7,854	$1,812	$45.32
Oklahoma	$94,119	$7,843	$1,809	$45.25
Texas	$93,511	$7,792	$1,798	$44.96
North Carolina	$93,119	$7,759	$1,790	$44.77
West Virginia	$92,468	$7,705	$1,778	$44.46
Kentucky	$89,668	$7,472	$1,724	$43.11
Michigan	$89,461	$7,455	$1,720	$43.01
Florida	$87,711	$7,309	$1,686	$42.17
Arkansas	$85,099	$7,091	$1,636	$40.91

Source: ZipRecruiter

Sonographer Job Considerations for Pay & Benefits

If a sonographer chooses to work part-time, they may not gain access to the same suite of valuable employee benefits that full-time sonographers typically earn. While employee benefits can vary by employer, full-time sonographers can generally expect to receive healthcare coverage, paid time off, and retirement plans as a part of their overall compensation package.


💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.

Pros and Cons of Sonographer Salary

One of the biggest pros associated with a sonographer’s salary is that they don’t have to take on expensive medical school debt — which can really eat into a worker’s monthly budget. An associate’s degree or a postsecondary certificate may be required but will cost less than pursuing other degree requirements commonly found in the medical field.

Regarding cons, some may find the salary doesn’t outweigh the hardships of the job. Many sonographers work nights and weekends and are on their feet for long periods of time.

Recommended: Pros and Cons of Minimum Wage

The Takeaway

Sonographers currently earn an average of $78,210 per year. They have a very valuable medical-service skill set, and demand for that skill is growing. It’s anticipated that job openings for this role will grow by 10% from 2022 to 2032, which is above the national average rate. As they navigate their careers, sonographers will likely want to make progress in their financial lives, with smart budgeting and saving.

SoFi helps you stay on top of your finances.

FAQ

Can you make 100k a year as a sonographer?

It is possible to earn $100,000 or more each year as a sonographer. On average, sonographers in the state of New York earn $130,753 per year. Where someone lives, how many years of experience they have, and their specialty can all impact how much they earn.

Do people like being a sonographer?

Working as a sonographer is a great fit for anyone who finds the work interesting and who enjoys patient interaction. Because this role requires so much patient care throughout the day, it’s not the best fit for those who are antisocial.

Is it hard to get hired as a sonographer?

Around 9,600 openings for diagnostic medical sonographers are anticipated to be available each year. Because of this high demand, if someone has the right education and qualifications, they should be able to find work as a sonographer.

---

Photo credit: iStock/dusanpetkovic

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

SORL0124038

Read more

The median annual pay for cosmetologists is $33,400 a year, according to the Bureau of Labor Statistics data for the most recent year studied. Helping people feel their best can be a rewarding way to spend one’s workdays, and cosmetologists get to do just that. From hair to skincare to makeup to nails, there are a lot of different niches a cosmetologist can master, all of which can be really fun and rewarding career paths to take.

That said, the average pay for cosmetologists is significantly lower than the average income for all jobs in America, which, again according to the Bureau of Labor Statistics, is just below $60,000 for the fourth quarter of 2023.

Keep reading to learn more about what it’s like to work as a cosmetologist and what the earning potential could be.

What Are Cosmetologists?

Cosmetologists can specialize in one type of personal grooming service, such as haircuts or manicures and pedicures. Others may offer skincare services like facials, hair removal (waxing), or applying makeup for special occasions. Many cosmetologists offer a variety of these services, whereas others have a specific niche, like hairstyling.

During cosmetology school, it’s common to take lessons in a handful of different specialties. That way, students can gain better insight into which areas of cosmetology they are most passionate about and most skilled at.

In terms of training, states often require a certain number of hours of training and passing written and practical examinations. For instance, in New York, you need 1,000 hours of training. You might study at a private cosmetology school (cosmetology school loans may be available) or find an associate’s degree program.

Also, it’s a good idea to note that your area of specialization can impact your earning potential as a cosmetologist, as can your location. In New York City, with its high cost of living and pay grade, one study found the average salary to be more than $70,000 per year. That could mean that those in major cities, with superior skills and experience and a loyal following, could even earn $100,000 per year.

Lastly, it’s important to recognize that cosmetology typically involves lots of interaction with clients. For this reason, it may not be the best job for antisocial people.


💡 Quick Tip: We love a good spreadsheet, but not everyone feels the same. An online budget planner can give you the same insight into your budgeting and spending at a glance, without the extra effort.

How Much Do Starting Cosmetologists Make a Year?

When they are working with entry-level experience, cosmetologists can expect to earn less than those with many years of fieldwork under their belt.

When it comes to starting wages, cosmetologists can expect to earn a median hourly wage of $10.48 (this is the lowest 10% of earners) but may see that amount rise significantly over time. The top 10% of earners in this field make more than $28.88 per hour.

For example, a celebrity makeup artist can make very competitive pay, but they also tend to be extremely skilled and experienced.

What is the Average Salary for a Cosmetologist?

The amount of money someone stands to earn as a cosmetologist can vary significantly depending on the services they offer, their experience level, and where they live. How much money does a cosmetologist make per year? The median annual salary is $33,400.

It’s important to note that an annual salary is not a guarantee as a cosmetologist as many work part-time. In terms of how much a cosmetologist makes an hour, the median hourly wage for a cosmetologist is $16.06.

These medians give prospective cosmetologists an idea of how much they stand to make if they choose to pursue this career path, but they can get an even clearer picture once they learn what the average salary by state is for their location. Here, you’ll find these figures arranged from highest to lowest.

What is the Average Cosmetologist Salary by State for 2023

State	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
New York	$48,025	$4,002	$923	$23.09
Vermont	$47,198	$3,933	$907	$22.69
California	$46,356	$3,863	$891	$22.29
Maine	$45,017	$3,751	$865	$21.64
Idaho/td>	$44,534	$3,711	$856	$21.41
Washington	$44,187	$3,682	$849	$21.24
Pennsylvania	$43,983	$3,665	$845	$21.15
Massachusetts	$43,445	$3,620	$835	$20.89
Alaska	$43,170	$3,597	$830	$20.76
New Jersey	$43,011	$3,584	$827	$20.68
New Hampshire	$42,908	$3,575	$825	$20.63
Oregon	$42,677	$3,556	$820	$20.52
North Dakota	$42,635	$3,552	$819	$20.50
Wisconsin	$42,362	$3,530	$814	$20.37
Wyoming	$41,983	$3,498	$807	$20.18
Hawaii	$41,826	$3,485	$804	$20.11
Colorado	$41,600	$3,466	$800	$20.00
Indiana	$41,247	$3,437	$793	$19.83
Nevada	$40,819	$3,401	$784	$19.62
New Mexico	$40,705	$3,392	$782	$19.57
Minnesota	$40,649	$3,387	$781	$19.54
Arizona	$40,394	$3,366	$776	$19.42
South Dakota	$40,294	$3,357	$774	$19.37
Montana	$39,786	$3,315	$765	$19.13
Ohio	$39,590	$3,299	$761	$19.03
Rhode Island	$39,530	$3,294	$760	$19.01
Delaware	$39,456	$3,288	$758	$18.97
Alabama	$39,289	$3,274	$755	$18.89
Virginia	$39,028	$3,252	$750	$18.76
Connecticut	$38,758	$3,229	$745	$18.63
Iowa	$38,685	$3,223	$743	$18.60
Illinois	$38,391	$3,199	$738	$18.46
Mississippi	$38,340	$3,195	$737	$18.43
Maryland	$38,247	$3,187	$735	$18.39
Tennessee	$37,798	$3,149	$726	$18.17
Utah	$37,700	$3,141	$725	$18.13
Nebraska	$37,533	$3,127	$721	$18.04
Missouri	$37,031	$3,085	$712	$17.80
South Carolina	$36,656	$3,054	$704	$17.62
Georgia	$36,600	$3,050	$703	$17.60
Oklahoma	$36,348	$3,029	$699	$17.48
Texas	$36,300	$3,025	$698	$17.45
Kansas	$36,094	$3,007	$694	$17.35
North Carolina	$35,899	$2,991	$690	$17.26
Louisiana	$35,490	$2,957	$682	$17.06
Kentucky	$34,483	$2,873	$663	$16.58
Michigan	$34,470	$2,872	$662	$16.57
West Virginia	$33,968	$2,830	$653	$16.33
Arkansas	$32,760	$2,730	$630	$15.75
Florida	$32,391	$2,699	$622	$15.57

Source: ZipRecruiter

Cosmetologist Job Considerations for Pay & Benefits

Even if they work full-time, many cosmetologists are self-employed and rent a chair or workspace at the salon they work in. Because most cosmetologists are not full-time employees of someone else’s business, they typically don’t receive employer-sponsored benefits like health coverage or a 401(k) match. That means they also won’t receive a paycheck when they take time off. To help offset the loss of benefits, cosmetologists need to set their rates to account for not just the amount of money they need to cover living expenses, but so they earn enough to afford benefits as well.

Some cosmetologists, however, will find full-time work. Examples of these career paths could be working as a cosmetology instructor or being a staffer at a resort’s spa.


💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.

Pros and Cons of Cosmetologist Salary

One of the main benefits of a cosmetologist’s salary is that expensive schooling isn’t required to start this career. While completing a state-approved cosmetology program is typically required, this education path is usually much faster and less expensive than pursuing a four-year degree. This means many cosmetologists can avoid taking out expensive student loans with monthly payments that can eat into their paychecks.

However, there is no denying that the average cosmetologist salary is below the national average for all incomes combined.

The Takeaway

Working as a cosmetologist leads to a median annual salary of $33,400. With hard work and strong skills, cosmetologists can expect to make more money down the road, especially if they work in certain markets. Also, since many cosmetologists work for themselves, they can gradually increase their rates as they build their client base and reputation.

SoFi helps you stay on top of your finances.

FAQ

Can you make 100k a year as a cosmetologist?

It is possible to earn $100,000 or more a year as a cosmetologist. However, it will take time to build up a client base or find a position that will pay high enough rates to build a six-figure salary.

Do people like being a cosmetologist?

It’s very common to pursue cosmetology as a career because of a passion for hair care, skincare, makeup, or nail care. This can be a really fun and rewarding career path for anyone whose passions align with the services they offer. However, if someone is an introvert, even if they love cosmetology, they may find a full day of social interaction to be too draining.

Is it hard to get hired as a cosmetologist?

There are currently 89,400 job openings projected annually for cosmetologists between now and 2032, and there is an anticipated 8% growth of openings during that time, which exceeds the national average.

---

Photo credit: iStock/Renata Angerami

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

SORL0124037

Read more