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An apprenticeship program pairs paid on-the-job training with classroom instruction to produce skilled workers who get a foot in the door in their preferred field without going to college for four years or more.

More than 714,000 apprentices were taking part in nearly 27,000 registered apprenticeship programs in 2026, according to the U.S. Department of Labor’s Office of Apprenticeship.

Here are details about finding an apprenticeship, how much you might earn, the commitment required, and more.

Apprenticeships 101

An apprenticeship is a way to acquire hands-on training, work experience, classroom instruction, and mentorship in a particular trade. Not only is an apprenticeship paid, but it’s also a doorway to a stable and in-demand job.

Most apprentices are promoted or receive a raise during their apprenticeship. The average starting salary is $86,000 after an apprentice completes an apprenticeship program.

Apprentices receive a nationally recognized credential in their industry upon completion of the program and may even earn academic credit toward a college degree. Ninety-three percent who complete a registered apprenticeship program retain employment, according to the Labor Department.

There are several places to look for an apprenticeship. You can use the federal agency’s Apprenticeship Finder to search by keyword and location, contact your state’s apprenticeship agency, check out trade or labor unions in your area, or use traditional job search engines. If you need more guidance, find an American Job Center near you.

Recommended: Why College Isn’t for Everyone

How Does an Apprenticeship Work?

The majority of apprenticeships are registered either with the Department of Labor or a state apprenticeship agency. Upon entering a program, apprentices receive training under the guidance of an experienced mentor. Many are also required to take academic courses related to that career.

The eligible starting age is 16, but some occupations require apprentices to be at least 18 years of age. Some apprentices may also have the option to enter a pre-apprenticeship program, which aims to better prepare workers for the apprenticeship program.

Upon completion of a registered apprenticeship program, individuals receive a nationally recognized Certificate of Completion of Apprenticeship. Some programs may also award associate degrees, certificates, or college credits.

How Long Does an Apprenticeship Last?

An apprenticeship program can take as little as one year, and some take as many as six. Whatever the length, most U.S. registered apprenticeship programs require at least 2,000 hours of on-the-job learning plus 144 hours of classroom work.

How Much Do Apprentices Make?

As of August 2026, the average apprentice salary is $22 per hour, with starting earnings around $15–$20 per hour. Typically, wages increase each year as they gain skills and experience. By the end of their apprenticeship, many earn between $26–$36 per hour. Earnings vary based on the industry, location, and whether the apprenticeship is unionized.

Do You Have to Pay for an Apprenticeship?

Apprenticeship training is typically offered by the employer at no cost to the apprentice, but apprentices may need to cover certain expenses, such as tools or educational materials.

What About College or Trade School?

Alternatives to apprenticeships include attending a four-year college or a trade school. There, you’ll be provided with a broader set of knowledge along with the key skills required for your area of study.

Trade school costs less than college but can still cost thousands of dollars a semester, depending on the program. As an apprentice, you can learn to do something you enjoy while getting paid. What’s the catch? Trade school degrees often take about two years to complete. Many apprenticeships last longer and even getting one can be tough.

Then there’s the traditional college route. But is college worth it?

About half of college students take out federal student loans, and roughly 10% of undergraduates take out private student loans. The average borrower leaves school owing just over $40,467.

However, the return on investment can be huge. The ROI for a bachelor’s degree is 106.99% after 20 years on average, according to the Education Data Initiative.

Major U.S. companies have vowed to change their hiring habits by offering career paths to people without four-year college degrees. About 55% of U.S. workers do not have a bachelor’s degree, and job screening by college degree hits minorities especially hard. But change has been slow in coming. A bachelor’s degree remains the standard in many cases.

Beyond the cost of college tuition, whether you choose an apprenticeship or a degree, you’ll need to evaluate salary and career potential using either path to find the one that’s right for you.

Student Loans, Grants, and Scholarships

Whether you choose trade school, college, or an apprenticeship with a community college component, you might need financial aid in the form of grants, scholarships, federal student loans, Federal Work-Study, or private student loans.

Private student loans can be helpful, but because they lack the benefits and borrower protections available with federal student loans, they are intended to fill in gaps after other funding sources have been spoken for.

Apprentices in a credit-bearing college program who qualify can receive federal Pell Grants.

And yes, it’s possible to take out student loans for community college.

Do hunt for scholarships. Every year scholarship and student grant opportunities go unused because eligible students do not apply, meaning merit- and need-based aid was left on the table.

Recommended: Grants and Scholarships by State

Pros and Cons of an Apprenticeship

Here’s a snapshot of the upsides and potential downsides of apprenticeships.

Apprenticeship vs Internship

Both apprenticeships and internships aim to help you gain expertise with hands-on training in a certain industry, but several differences should be noted. Here are some of the most common ones.

•   Duration: Internships typically last only one to three months, while an apprenticeship can last up to six years.

•   Pay: Apprentices receive at least the minimum wage specified by the Fair Labor Standards Act for hours worked on the job. Wage increases are earned as the apprentice gains and uses skills while working for the employer. Internships are usually unpaid, temporary positions.

•   Structure: Apprenticeships have a structured training plan and prepare an apprentice to fill an occupation within the organization. Internships aren’t always structured and typically provide short-term workplace experience.

•   Mentorship: Apprentices work with an experienced mentor. Internships don’t always include mentorship.

•   Credential: After completing an apprenticeship program, nationally accredited certification is awarded. Interns generally don’t receive any type of credential.

•   Job opportunities: Interns are usually in college and get an opportunity for career exploration and skill development. An apprenticeship provides in-depth training, and apprentices can potentially transition into the same role after completing the program and earn a higher salary.

The Takeaway

An apprenticeship can be an excellent way to gain access to a company or a field you wish to work in without going the traditional college route. They aren’t for everyone, though, nor are they available in every field.

While apprenticeships are typically covered by your employer, you may still find you need funding to cover additional costs or living expenses. In that case, you can rely on cash savings, grants, scholarships, and federal and private student loans.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

FAQ

What is an apprenticeship?

An apprenticeship is a structured program that combines paid on-the-job training with classroom instruction, allowing individuals to gain practical skills and experience in a specific trade or profession. Apprenticeships are often offered in fields such as construction, health care, and IT, providing a pathway to industry-recognized credentials or licensure.

How long do apprenticeships typically last?

The length of an apprenticeship varies by field and program but generally ranges from one to six years. Most programs include a set number of hours for on-the-job training and classroom instruction, ensuring participants gain comprehensive knowledge and practical experience in their chosen industry.

What are the benefits of an apprenticeship?

Apprenticeships provide hands-on training, mentorship, and a salary while learning. They often lead to industry-recognized certifications, higher earning potential, and strong job prospects. Unlike traditional education programs, apprenticeships allow participants to “earn while they learn,” reducing or eliminating student debt.

Photo credit: iStock/JohnnyGreig

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SOISL-Q326-017

Linemen are critical for keeping utility services running smoothly. If you’re interested in this career path, you might be wondering, “How much does a lineman make a year?” The mean annual salary for electrical power line installers and repairers was $91,970 in 2025, according to the Bureau of Labor Statistics (BLS).

It’s possible to make more money (or less) depending on how many years of experience you have and where you’re employed. Looking at hourly and annual wage data can provide a clearer answer to the question of how much money does a lineman make.

What Is a Lineman?

A lineman, or line installer and repairer, is someone who works with electrical power systems and telecommunications systems. The typical duties and responsibilities of a lineman include:

•   Installing, maintaining, and repairing electrical power lines

•   Identifying defective components within electrical systems, such as transformers or voltage regulators

•   Erecting power poles and stringing electrical lines

•   Inspecting and testing power lines and equipment

•   Operating power equipment to complete repairs or installations of electrical system components

Linemen can work in different specialty areas. For example, some linemen exclusively work on electrical power substations, while others may install and repair fiber optic cables. Line repairers may be dispatched to repair electrical lines or telecommunications systems following a natural disaster, such as a hurricane.

A lineman’s work requires being outdoors much of the time. Unlike retail or restaurant workers, they typically have limited interaction with the public, which could make this one of the best jobs for introverts.

However, they still have to communicate with colleagues, so it’s not necessarily one of the best jobs for antisocial people who prefer to work alone.

How Much Does a Starting Lineman Make?

What is a good entry-level salary for a lineman? Entry-level salaries for electrical linemen vary depending on where they’re located, their educational background, and which company they’re employed with. At the low end of the spectrum, lineman jobs pay an annual wage of $51,470, according to the BLS.

How does salary vs. hourly pay compare for linemen? Again at the low end, a starting lineman makes $24.74 an hour, according to BLS data. At the high end of the scale, a lineman earns $61.87 per hour, or $128,690 in annual salary. These estimates assume that a full-time schedule for a lineman works out to 2,080 hours per year.

When discussing how much does a lineman make an hour, it’s important to consider the bigger picture. The actual hourly wage for a lineman can depend on how many hours they work per year and how many of those hours are paid at their regular wage versus overtime pay or time-and-a-half.

Hourly and annual pay for linemen can increase as they gain more experience. For example, if you’re asking, “How much does a journeyman lineman make?” you’re likely to get a different answer compared to someone who’s just starting out. Journeyman linemen are fully trained and can have years of experience, while a regular lineman may still be at the apprentice stage.

As you climb up the ranks of your field, you’ll likely see a bump in pay. An online budget planner can help you create budgets, manage upcoming bills, and monitor your credit score, all for free.

What Is the Average Salary for a Lineman?

The mean annual salary for a lineman is $91,970, according to the BLS, while the median salary is $95,320. The median lineman salary reflects the middle ground between the highest and lowest salaries. Average salaries reflect the mean of all salaries earned by linemen.

The average lineman salary by state may be higher or lower than the national average. Here’s a comparison of the average lineman salary by state, based on BLS data for 2025.

If you’re wondering what trade makes the most money, jobs in the electrical field certainly make the list. When you look at the big picture, lineman positions can be some of the highest-paying jobs by state.

In terms of what is competitive pay for a lineman, it’s easy to see that some states have a much higher average salary than others. The top states for lineman jobs, which include California, pay $100,000 or more a year on average. But is $100,000 a good salary for this kind of work? That’s an important question to ask since this type of job can be more physically intensive — and dangerous — than others.

Whether a six-figure salary is good or not can depend largely on how you use it. If you’re focused on saving, then $100K a year might go pretty far. (A money tracker can help you keep tabs on your finances.) On the other hand, if you’re struggling with debt or don’t keep a regular budget, then you might have a hard time making ends meet, even with six-figure pay.

Lineman Job Considerations for Pay and Benefits

Becoming a lineman may require no more than a high school diploma or equivalent. Instead of earning a bachelor’s or advanced degree, you may learn everything you need to know on the job through hands-on training. Most linemen work regular business hours and schedules, though they may be expected to work weekends or respond to emergency calls for service.

If you’re working full-time, your employer may offer a benefits package that includes health insurance, a retirement plan, and other perks. That, along with a solid annual salary, can make this kind of work appealing.

Again, how much money a lineman makes can depend on what kind of experience they have and where they’re located. Living in California or New York, for example, can help you unlock higher pay. However, that can also mean dealing with a higher cost of living, which can put more of a strain on your paycheck. And, of course, inflation can also affect your hourly wage.

Pros and Cons of Lineman Salary

It’s easy to be persuaded to believe that a career as a lineman could be worthwhile when you’re looking solely at the average annual salary. If you’ve paid attention to any of the recent discussions about raising the minimum wage, you should be aware that linemen make a significantly higher hourly rate.

Making more money can be a good thing if you’re able to reach your financial goals. That might include starting an emergency fund, putting money away for retirement, or paying down debt. As mentioned, lineman jobs can also come with good benefits, depending on where you’re employed.

Now, what about the cons? Lineman work can be stressful and may involve working long hours if you’re repairing power lines after a natural disaster. You may be required to work in less-than-ideal weather conditions, including extreme cold or heat. A lot of driving can be involved if you’re constantly moving from one location to another.

The job itself can be dangerous since linemen routinely climb power poles and deal with high-voltage electricity. Minor or major injuries and even deaths can occur on the job. While linemen are specially trained to deal with different types of emergencies, this is still one of the most hazardous occupations overall.

The Takeaway

Working as a lineman is something you might consider if you’d like to bank a higher salary and you don’t mind physically strenuous work outdoors. Comparing the average lineman salary by state can be helpful when deciding where to apply for a position.

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.

FAQ

What is the highest salary for a lineman?

The highest average salary by state for a lineman is $125,270. That’s what linemen in California earn on average per year. Where you live and work can make a difference in how much money you can make as a lineman, as some states have much higher average pay than others.

Does a lineman make six figures?

There are lineman jobs that pay six figures per year. Whether you can make six figures as a lineman will depend largely on your experience and where you live.

What does a lineman make in Texas?

Texas is one of the lower-paying states for lineman jobs. The average annual salary for a lineman in Texas is $78,670, according to the Bureau of Labor Statistics. Whether that’s a good salary to live on can depend on your expenses and which part of Texas you call home.

Is being a lineman dangerous?

Linemen routinely climb power poles and deal with high-voltage electricity, making this a very hazardous occupation. Although linemen are specially trained to deal with emergencies, they are still at risk of injury or even death.

Can I live comfortably on a lineman’s salary?

Whether you can live comfortably on a lineman’s salary varies from person to person. In the U.S., linemen make an average of $91,970, though the amount may be more or less depending on your location, and how far the salary can go depends on your lifestyle. To determine what salary would be a comfortable amount for you, you can use the 50/30/20 budgeting strategy, where 50% of your income goes to essentials, 30% to day-to-day spending, and 20% to savings.

About the author

Rebecca Lake

Rebecca Lake has been a finance writer for nearly a decade, specializing in personal finance, investing, and small business. She is a contributor at Forbes Advisor, SmartAsset, Investopedia, The Balance, MyBankTracker, MoneyRates and CreditCards.com. Read full bio.

Photo credit: iStock/Prapat Aowsakorn

SoFi Coach 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 must 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.

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

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.

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SORL-Q326-024

The average salary in the U.S. is $69,846.57, according to the latest data from the Social Security Administration. How your salary compares will depend on your industry and skilI set, as you’d expect. What you might not realize is that your salary is also greatly influenced by where you live, since salaries go hand in hand with the cost of living.

Here’s a closer look at the average salary in the U.S. and how income varies from state to state.

What Is the Average US Salary (2026)

The national average salary is $69,846.57. That is the sum of all incomes divided by the number of workers. Where someone lives, their industry, their education level, and the current demand for their job all contribute to how much a worker earns per year.

💡 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.

Average Salary vs Median Salary: What’s the Difference?

The Bureau of Labor Statistics (BLS) provides data on median pay. As of Q2 2026, the median weekly earnings of full-time workers was $1,251, or $65,052 per year. The median is the midpoint in the data set, with 50% of incomes falling above that figure and 50% below.

Why are the average and median income figures different? With averages, unusually high or low numbers can skew the results. For instance, multi-millionaires or billionaires might drive the average higher than what the typical worker actually makes. The median is less affected by outliers.

US Average and Median Salary by State in 2026

The following chart shows both the average and median incomes (in single-income households) in each state, according to data from Forbes and the U.S. Census Bureau.

Recommended: Salary to Hourly Calculator

Why Do States Have Different Average Salaries?

The chart shows that the average salary in some states is quite different from the average salary nationwide. That’s partly because the cost of living, which affects how much a company pays its employees, varies significantly by state.

Also, inflation impacts states to varying degrees.

In addition, industries with a concentrated presence in certain states, such as banking or automobile manufacturing, can affect the overall quality of job opportunities in that area.

Which Regions Pay the Most?

Salaries tend to be higher in some areas of the country. Cities on the West Coast and in the Northeast have some of the highest average salaries:

•   Massachusetts

•   New York

•   Washington

•   California

•   New Jersey

•   Connecticut

•   Maryland

Remember, while these states have higher incomes, they may also have a much higher cost of living and higher housing prices.

Recommended: 25 Highest-Paying Jobs in the US

Which Regions Pay the Least?

The South is home to states that tend to pay the least:

•   South Carolina

•   Kentucky

•   Louisiana

•   Alabama

•   Arkansas

•   West Virginia

•   Mississippi

To determine what your personal cost of living is, try tracking your expenses with a free budget app for a few months.

Recommended: Biweekly Money-Saving Challenge

Should You Move to Make More Money?

It’s important to remember that just because a state has a higher average salary, that doesn’t mean it’s more profitable for workers to live there. Higher salaries tend to correlate with a higher cost of living.

Before making a major move, first try living below your means. One reason that people who make more money still have trouble paying their bills is the phenomenon of lifestyle creep. This is when your so-called needs expand to consume your current salary.

One of the most effective ways to counteract lifestyle creep is to downsize your home. Reducing your housing expenses to less than 30% of your gross income could help you pay down debt, increase savings, and become more conscious of how lifestyle choices affect spending.

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

The Takeaway

The average annual salary in the U.S. is $69,846.57. The median annual salary, which is often less skewed by outlying numbers, is $65,052. It’s worth noting that average and median salaries vary quite a bit by state. States in the Northeast and on the West Coast tend to pay higher salaries, while those in the South often pay less. What’s stopping people from moving to a higher-paying state? Often, it’s housing prices, which rise along with the cost of living in “richer” states.

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.

FAQ

How much do the top 10% of Americans make per year?

The top 10% of Americans earn $128,560 per year. Some top earners live in higher cost of living areas, so it could be more revealing to see how much the top 10% earn in your state.

What percentage of Americans make over $75K?

Only 12% of Americans make in the $75,000-$99,999 range. An additional 16.7% make between $100,000 and $149,999, and 15.1% earn in the $50,000-$74,999 range.

Which US state has the highest salary?

Massachusetts is the state with the highest average annual income of $83,050. This salary is significantly more than the national average salary of $69,846.57.

What is a good salary to have in the US?

What’s considered a good or comfortable salary in the U.S. varies. Cost of living and regional differences affect salary levels, so what is considered a high income in one state may not get you as far in another state. With the national average salary being $69,846.57, being around or above that amount can be a good salary depending on your location.

Which US state has the lowest salary?

Generally, states in the South pay the lowest salaries. According to Forbes’ most recent data, Mississippi has the lowest average salary at $49,740, followed by Arkansas at $53,070 and West Virginia at $54,940.

About the author

Jacqueline DeMarco

Jacqueline DeMarco is a freelance writer who specializes in financial topics. Her first job out of college was in the financial industry, and it was there she gained a passion for helping others understand tricky financial topics. Read full bio.

Photo credit: iStock/artpipi

SoFi Coach 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 must 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.

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.

SORL-Q326-026

Age plays a major role in how much money people make. This is simply because as you get older, you gain career experience and bring more value to companies. Income tends to peak at ages 45-54. But when are a worker’s “peak earning years,” and what happens after they’re past that period?

Keep reading for insight into the average income by age in the United States.

Average Salary by Age in the US

Your education, industry, work experience, negotiation skills, and plain luck can all influence how much money you make. To get an idea of whether you’re earning a competitive salary, it can be helpful to know how much other people in the same age group are making.

Here’s a closer look at the average income by age in the U.S. during the second quarter of 2025, according to the Bureau of Labor Statistics.

Average Salary for Ages 16-19

The early days of your working life usually aren’t the most lucrative: 16- to 19-year-olds who work full-time make $640 a week or $33,280 a year on average.

Average Salary for Ages 20-24

Salaries start to rise as workers gain experience. Those in the 20-24 age group make an average of $782 a week or an annual salary of $40,664.

This is when many financially savvy professionals start building their 401(k) balance. That’s because the earlier you invest for retirement, the less money you’ll typically have to invest over time. Or, as the saying goes, your time in the market is more important than market timing.

Recommended: Average Savings by Age

Average Salary for Ages 25-34

Salaries begin to jump up once workers reach the 25-34 age group, with an average weekly pay of $1,139 or an annual income of $59,228.

Ideally, employees will put much of their raises and bonuses toward savings rather than impulse spending.

Average Salary for Ages 35-44

For 35- to 44-year-olds, annual salaries are still growing: The average pay is $1,351 per week or $70,252 per year. This is the beginning of what’s commonly referred to as “peak earning years.”

Average Salary for Ages 45-54

While many employees enjoy higher wages into their 50s, others find their salary stagnating. Overall, workers in the 45-54 age group actually see salaries go up a little, with a weekly pay of $1,362 on average. The average annual income in middle age is $70,824.

Recommended: Financial Tips for People in Their 40s

Average Salary for Ages 55-64

Salaries start to drop for workers between 55 and 64, whose average weekly salary is $1,296 for an annual salary of $67,392. What happened to paying for experience? Some companies may believe they can pay younger employees less for the same work and see older workers as overpaid. As a result, 55+ workers are no longer offered the same retention incentives, such as pay raises, regardless of performance.

On the other hand, professionals who are satisfied with their retirement savings may choose to work less or retire early instead of waiting until the average retirement age.

Average Salary for Ages 65 and Older

Once workers reach 65, they are likely shifting to part-time work to stay active during retirement and to earn a little extra retirement income. Some people need more retirement income than others, and Social Security benefits and savings aren’t always enough. This may be why salaries drop to an average of $1,198 for an annual salary of $62,296 per year for those 65 or older.

Tips for Maximizing Your Salary

Now that some light has been shed on the average income by age in the U.S., the following section will address some ways workers can maximize their salary. That can mean finding ways to hold on to what you’re earning or to make it grow.

Create a Budget

If you’ve ever created a spending budget, you know how shocking it can be to see all the ways you fritter away your hard-earned salary on unnecessary purchases. By cutting back on items you don’t really need, from bottled water to forgotten subscriptions, you’ll free up more cash for things such as saving and investing.

Pay Down Debt

What’s even more shocking than the amount you spend on little things such as daily snacks and late-night Ubers? The interest charges and fees that come with debt. The faster you pay off high-interest credit cards, the more you can put toward longer-term goals: an emergency fund, travel, or buying a home.

Make Saving Automatic

One easy way to make saving and investing a priority is to automate it: Set up regular, recurring transfers from your paycheck or checking account. That way, big goals such as a dream wedding and retirement are prioritized before there’s even a chance to spend that money.

Take Advantage of Tax Deductions and Credits

Taxes may be an unavoidable part of life, but there are ways to pay less to Uncle Sam. Whether you hire a tax accountant or use software to file your return, look for opportunities to snag a larger tax refund.

Make Retirement Contributions

Contributing to a retirement savings account is a convenient way to save and invest in one fell swoop. As an added benefit, some employers match a portion of employee contributions. That means if someone isn’t contributing to their employer-sponsored 401(k) plan, they’re leaving free money on the table that helps expand an employee’s net worth.

Recommended: Investing 101 Guide

Open a High-Yield Savings Account

A low-risk way to earn money on savings is by opening a high-yield savings account. This type of savings account tends to offer a higher interest rate than normal savings accounts.

The Takeaway

The average income by age in the U.S. tends to rise as workers gain more experience. Eventually salaries plateau and then drop off. Your peak earning years coincide with middle age, meaning you make the most you ever will in your 40s and 50s. The average salary in the U.S. tops out at $70,824 for ages 45-54.

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.

FAQ

What does the average 30-year-old make?

The average 30- to 34-year-old makes $1,139 per week or an annual income of $59,228. Workers ages 35-44 can expect to earn more: The average pay is $1,351 per week or $70,252 per year.

What percentage of Americans earns over $100,000 a year?

Estimates vary about how many Americans earn over $100,000 per year. Some studies say about 18% of the population earns that much, while others say over 40% do.

What salary is middle class?

The salary that places you in the middle class varies depending on where you live and the cost of living there. According to one Pew Research study, the median middle-class household (not individual) makes $106,100. However, if you can afford to pay your bills and have money left over for savings and modest indulgences, you’re likely middle class.

At what age do people typically reach their peak earning years?

Workers typically reach their peak earning years during middle age, with average salaries generally highest among those in the 45-54 age group. Factors such as career experience, industry, and education can all influence when someone reaches their highest earning potential.

How can someone increase their income over time?

There are several ways to increase income over the course of a career. This may include developing new skills, negotiating salary increases, and advancing into higher-paying roles.

About the author

Jacqueline DeMarco

Jacqueline DeMarco is a freelance writer who specializes in financial topics. Her first job out of college was in the financial industry, and it was there she gained a passion for helping others understand tricky financial topics. Read full bio.

Photo credit: iStock/Prostock-Studio

SoFi Coach 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 must confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

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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.

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SORL-Q326-023

If you’re planning to become a nurse, you may be wondering how long it takes to go to nursing school. The answer to that question depends on the degree you’d like to earn and what type of nurse you want to be. For instance, becoming a registered nurse (RN) with a Bachelor of Science in Nursing (BSN) degree takes longer than becoming a licensed practical nurse (LPN).

If you’re wondering, “How long is nursing school?” read on to learn how the type of degree you pursue and the kind of nurse you’d like to become affect how many years of school it takes to become a nurse.

Length of Nursing School by Degree and Program

Nursing school program length varies by the type of degree you’re working toward and the program you choose. Here are some common programs and degrees for students and the nursing school timeline for each.

LPN/LVN Program

An LPN, a licensed practical nurse — referred to as an licensed vocational nurse (LVN), licensed vocational nurse, in California and Texas — is a nurse who performs basic tasks such as checking patients’ vital signs, administering basic comfort care, keeping records, and maintaining communication with patients and their families. LPNs and LVNs work in nursing homes, extended care facilities, hospitals, physicians’ offices, and home health care under the supervision of registered nurses (RNs) and doctors.

To become an LPN or LVN, you must have a high school diploma or General Educational Development (GED) credential and enroll in an accredited practical nursing program at a community college or vocational school.

•   Number of credit hours required: Between 45 and 50

•   Program length: Typically one year if you attend school full-time and up to two years for part-time students

Once a nurse completes an LPN/LVN program, they must apply for testing authorization through their local board of nursing and the National Council of State Boards of Nursing. After receiving authorization, they can take the National Council Licensure Examination for Practical Nurses (NCLEX-PN). A nurse must pass the exam to receive their license to work.

Nursing Diploma

Diplomas or certificate programs were the standard for nursing training until the 1950s. Students can still become RNs by attending a hospital nursing school instead of a college or university, but there are no longer many accredited programs available in the U.S.

These programs typically focus on clinical training rather than general education. You won’t earn a degree with this program, and you’ll have to make sure your academic credits will transfer to a degree program. Instead, you’ll qualify to take the NCLEX-RN exam. If you pass, you’ll become a licensed RN, which qualifies you for entry-level jobs. However, job opportunities for those with a nursing diploma may be limited. This is something to keep in mind when you think about life after school and living on a budget as a nurse.

To get a nursing diploma, you’ll need a high school diploma or GED credential and be enrolled in an accredited hospital nursing school.

•   Number of credit hours required: 42

•   Program length: One year

Associate Degree in Nursing

You might consider an associate degree in nursing (ADN) to become an RN if you want to finish nursing school quickly or if you’re concerned about paying for the cost of nursing school. Plus, you could always go back to school later since an ADN allows you to apply credits toward a future Bachelor of Science in Nursing (BSN) or Master of Science in Nursing (MSN).

However, ADN students may find that their advancement and salary opportunities as a nurse are limited. So think carefully about whether an ADN makes sense for your goals.

To gain admittance to an ADN program, you must have a high school diploma or GED certificate, take math and science courses in high school, and meet GPA requirements to enter a nursing program.

•   Number of credit hours required: About 70

•   Program length: Two to three years

ADN students must also complete a certain number of clinical hours at a health care site. Graduates must pass the NCLEX-RN exam to start working as a nurse.

Bachelor of Science in Nursing

A Bachelor of Science in Nursing (BSN) allows students to become an RN and offers them more career opportunities, including leadership positions. While BSN programs take longer and are more costly to complete than ADN programs, students can earn a combination of credits through online, hybrid, and in-person classes.

To qualify for a BSN program, you need to have taken high school math and science courses and earned a high school diploma or GED certificate. You also must meet a school’s GPA requirements, which is typically at least a 2.75.

•   Number of credit hours required: 120-130

•   Program length: Four years

BSN students must fulfill clinical hour requirements based on their program and state to graduate. They will then need to pass the NCLEX-RN exam to begin working as a nurse. If they choose to, they can enroll in a dual bachelor’s and master’s program.

Master of Science in Nursing

Earning an MSN allows you to work as an advanced practice nurse, such as a nurse practitioner, clinical nurse specialist, certified nurse-midwife, nurse educator, or nurse administrator.

If you’re wondering, “How long is nursing school after undergraduate school?” it typically depends on the type of degree you already have, which dictates the type of MSN program you can take.

•   BSN to MSN: These programs are for those who already have a BSN and at least one year of RN experience. To earn an MSN, you must meet clinical and practice requirements at a health care facility.

◦   Program length: Two to three years

•   MSN bridge program: This option is for RNs with associate degrees. It combines the last two years of a BSN program with an MSN program.

◦   Program length: Two to three years

•   Direct-entry master’s degree: Qualified applicants with a nonnursing bachelor’s or graduate degree may pursue a direct-entry graduate nursing program. It counts existing college credits, especially those earned in STEM courses, toward the MSN. Students must take a condensed BSN curriculum for a year, pass the NCLEX-RN, and earn an RN license before advancing to the MSN part of the program.

◦   Program length: Three to four years

•   Dual master’s degree: RNs pursuing advanced leadership roles, such as nursing administrator or clinical informatics manager, can pursue a dual master’s degree program, such as an MSN/ Master of Business Administration (MBA). The degree combines business, nursing practice, and administration.

◦   Program length: Two to five years

Doctor of Nursing Practice

A Doctor of Nursing Practice (DNP) degree is for nurses who seek the highest level of expertise and leadership in the field. These nurses work to influence health care outcomes through leadership, health policy implementation, and direct patient care. They often work in nurse management, organizational leadership, and health policy or in health informatics systems functioning as nurse-midwives, nurse anesthetists, and nurse practitioners.

To earn a DNP, a nurse must have a license as an RN and an MSN or a more advanced degree. Those with a BSN and a master’s degree in another discipline are evaluated on a case-by-case basis at certain universities.

•   Number of credit hours required: About 36 and at least 1,000 clinical practice hours

•   Program length: Two to six years

Recommended: Ways to Pay for Nursing School

How Long to Become a Registered Nurse?

There are multiple pathways to becoming an RN, and depending on the program you opt for, you could become an RN in one year, two years, or four years.

•   In one year: You could become an RN by earning a nursing diploma from an accredited school.

•   In two years: You could become an RN by earning an ADN.

•   In four years: You could become an RN by earning a BSN degree.

In each case, after earning your degree, you will need to take and pass the NCLEX-RN exam and then obtain a nursing license in your state before you can start working as an RN.

How Long to Become a Nurse Practitioner?

If you’re thinking about a more specialized or advanced degree, you might be interested in becoming a nurse practitioner (NP). NPs have many professional responsibilities, including assessing and diagnosing patients, creating treatment plans, and prescribing medication.

NPs must have either a master’s or doctoral degree in nursing. That means it takes 6-10 years of schooling to become a licensed nurse practitioner.

The Cost of Nursing School

As you’re thinking about a nursing school timeline, you’ll also want to consider the cost of earning your degree. The average cost of nursing school is approximately $22,390-$52,850 annually for a four-year BSN degree, depending on the type of institution you attend.

Fortunately, there are options to help nursing students afford their schooling, including federal student loans, scholarships and grants, and private student loans. Be sure to fill out the Free Application for Federal Student Aid (FAFSA) to see what you qualify for.

Also, keep in mind that there are ways to make paying your student loans more manageable, including income-driven repayment plans for federal student loans, loan repayment assistance programs offered by various states and organizations, and private student loan refinancing options.

When you refinance student loans, you replace your current loans with a new loan from a private lender, such as a bank, credit union, or online lender. Ideally, the new private loan will have a lower interest rate and more favorable loan terms, though you may pay more interest over the life of the loan if you refinance with an extended term. Also be aware that federal student loans come with benefits and protections, such as income-driven repayment plans and deferment, that are forfeited with a refinance.

If you can secure a lower interest rate, refinancing student loans to save money may make sense for you to help pay for nursing school. Be sure to explore all your options.

Using a student loan refinancing calculator can help you see what your monthly payment might be if you choose to refinance.

Recommended: Student Loan Refinancing Guide

The Takeaway

How long nursing school takes to complete depends on your career goals. It generally takes just one year for a nursing diploma, but it can take as long as 10 years for a doctoral degree. Think carefully about the program and career path that makes the most sense for you.

Nursing school can be expensive, and many students use federal student loans to help pay for it. They might also fill any funding gaps with private student loans.

Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.

FAQ

How many years is nursing school?

The nursing school timeline depends on the type of degree you pursue. If you’d like to become a licensed practical nurse (LPN), which is called a licensed vocational nurse (LVN) in some states, it can take just one year to meet all the requirements. However, if you want to earn a Bachelor of Science in Nursing (BSN) degree, it typically takes four years, while a Doctor of Nursing Practice (DNP) degree can take up to 10 years.

What is the shortest schooling for nursing?

The quickest way to become a nurse is to earn a licensed practical nurse (LPN) or licensed vocational nurse (LVN) degree, which generally takes one year to complete. However, the degree doesn’t necessarily offer as many opportunities for career advancement. Typically, the more education you have and the more advanced the degree, the better your chances of moving up in your career and earning a higher salary.

Is nursing school hard?

Nursing school is rigorous and demanding. It requires you to take challenging classes, such as physiology, pharmacology, and ethics, and clinical rotations require working with patients in health care scenarios, where you’ll juggle multiple responsibilities. You’ll also have to take and pass the National Council Licensure Examination (NCLEX) to get your license to practice.

About the author

Melissa Brock

Melissa Brock is a higher education and personal finance expert with more than a decade of experience writing online content. She spent 12 years in college admission prior to switching to full-time freelance writing and editing. Read full bio.

Photo credit: iStock/FatCamera

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