SoFi

A career as a psychiatrist can be highly rewarding, both professionally and financially, with the average annual salary in the U.S. coming in at $259,497, according to ZipRecruiter.

Becoming a psychiatrist requires a lot of dedication and time — 12 years on average. But as the need for mental health services outstrips demand in the U.S., the outlook for a career in psychiatry is strong. Indeed, the U.S. Health Resources & Services Administration predicts a shortage of 39,550 psychiatrists by 2030 if current supply and utilization patterns continue.

Read on to learn more about how much a psychiatrist makes, as well as the job’s requirements, duties, and benefits.

What Are Psychiatrists?

Psychiatrists are medical doctors who specialize in mental health. They are qualified to assess mental health disorders, including depression, anxiety, and substance abuse, and prescribe medication.

The duties of a psychiatrist generally include:

•   Assessing patients’ mental health through interviews, reviewing medical history, and testing

•   Delivering an accurate diagnosis and developing a treatment plan

•   Consulting with other mental health professionals

•   Prescribing medication if needed

•   Following up with patients and making treatment adjustments if necessary

•   Documenting each patient’s diagnosis and progress

•   Offering emotional support and coping mechanisms

•   Staying current on new developments and psychiatric treatment methods

An effective psychiatrist should be able to:

•   Be compassionate and empathetic. These qualities allow a psychiatrist to understand what’s going on with their patients.

•   Establish trust. Patients need to feel safe opening up to their doctors.

•   Be patient. The road to mental wellness can be a long one.

•   Possess strong communication skills. Psychiatry is not a job for introverts. A successful psychiatrist needs to be able to actively listen, provide guidance, and communicate solutions.

•   Maintain flexibility. The job requires flexibility in both your schedule and treatment approaches in order to provide customized help for each patient.

💡 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 Psychiatrists Make a Year?

Professional psychiatrists can make over $100,000, even as a starting salary. Both the bottom 10% of earners and beginning psychiatrists make, on average, $133,000 a year.

What is the Average Salary for a Psychiatrist?

Being a psychiatrist is one of the highest paying jobs in the U.S. The typical salary ranges from $68,500 to $399,000 a year, with the average psychiatrist salary in the U.S. landing at $259,497. However, location makes a significant impact on how much a psychiatrist gets paid, with the average salary in New York City coming in at $283,899.

A psychiatrist can command a yearly salary or an hourly wage in a private practice. As for how much a psychiatrist makes in an hour, the national average is $125.

What is the Average Psychiatrist Salary by State?

Psychiatrists can earn competitive pay no matter where they live and work. However, geographic location does have an influence on how much a psychiatrist makes. Here’s a look at the average psychiatrist annual salary by state.

State	Average Psychiatrist Salary
Alabama	$217,814
Alaska	$298,011
Arizona	$223,941
Arkansas	$219,763
California	$245,539
Colorado	$278,076
Connecticut	$222,803
Delaware	$261,403
Florida	$179,578
Georgia	$202,911
Hawaii	$291,670
Idaho	$234,887
Illinois	$257,543
Indiana	$228,670
Iowa	$220,963
Kansas	$208,315
Kentucky	$232,552
Louisiana	$201,803
Maine	$239,807
Maryland	$253,160
Massachusetts	$294,407
Michigan	$230,206
Minnesota	$231,135
Mississippi	$221,239
Missouri	$246,222
Montana	$220,568
Nebraska	$247,756
Nevada	$281,771
New Hampshire	$235,468
New Jersey	$241,638
New Mexico	$229,833
New York	$264,317
North Carolina	$239,059
North Dakota	$297,964
Ohio	$224,669
Oklahoma	$239,933
Oregon	$299,484
Pennsylvania	$242,134
Rhode Island	$277,392
South Carolina	$244,097
South Dakota	$281,608
Tennessee	$214,493
Texas	$233,306
Utah	$214,648
Vermont	$258,108
Virginia	$257,621
Washington	$284,970
West Virginia	$187,004
Wisconsin	$239,303
Wyoming	$231,732

Recommended: What Is a Good Entry-Level Salary?

Psychiatrist Job Considerations for Pay & Benefits

A professional psychiatrist can earn a high salary while helping to improve the lives of others. But there are a lot of steps you need to take in order to become a licensed psychiatrist. These include:

1.    Earning a bachelor’s degree, preferably in psychology, biology or biochemistry.

2.    Taking the Medical College Admission Test (MCAT). The MCAT is a challenging standardized test used as an admissions requirement when applying for a medical degree program.

3.    Applying to and attending medical school. Medical school typically takes about four years to complete as a full-time student.

4.    Completing a four-year medical residency. This is required to obtain your medical license and involves treating patients in real-world scenarios. It’s generally a good idea to obtain your license in the same state you intend to practice in.

In addition to a strong job prospects and a high salary, psychiatrists who work for a public, private, or government institution may be eligible for the following job benefits:

•   Health insurance — medical, vision, and dental

•   Life and disability insurance

•   Vacation and holiday pay

•   Paid sick leave

•   Retirement plans

•   Malpractice coverage

Of course, if you open your own practice, you’ll have to cover those benefits yourself. But you’ll have the flexibility to set your own schedule and session rates.


💡 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 Being a Psychiatrist

As with any profession, there are positive and negative sides to being a psychiatrist. Here’s a closer look at the jobs pros and cons.

Pros of Being a Psychiatrist

•   Opportunity to help others: One of the reasons people enter the field of psychiatry is to help change people for the better and, in some cases, save their lives.

•   Mix of patients: You’ll be challenged with helping people of all different ages and backgrounds to achieve mental wellness.

•   Work in a variety of places: Psychiatrists can work in private offices, hospitals, schools, mental health clinics, and other institutions.

•   Form relationships: In addition to establishing relationships with their patients, many psychiatrists have the opportunity to work with other professionals, including psychologists and occupational therapists, as part of a holistic treatment plan.

•   Be your own boss: If you decide to form your own practice, you’ll be able to set your own schedule and session rates.

•   Job security: As noted above, psychiatry is one of the types of jobs that are currently in demand.

Cons of Being a Psychiatrist

•   Emotionally draining: Caring for patients, especially those who have dealt with traumatic experiences, can be emotionally exhausting. The stress of responsibility coupled with intense sessions can potentially lead to professional burnout.

•   Substantial educational debt: The 12 years or more of school plus residency required to become a psychiatrist can be costly and leave you a lot of student loans to repay.

•   Irregular hours: Many psychiatrists have to be flexible in order to accommodate working patients and don’t work the traditional nine-to-five hours.

•   Fluctuating income: The goal of any psychiatrist is to help people manage their lives on their own, which means patients (hopefully) come and go. If you have a private practice, you could experience fluctuations in income from year to year.

•   Physical danger: Unfortunately, some more severely mentally ill patients can potentially become physically violent with their doctors.

•   Risk of lawsuits: Patients can sue their psychiatrist for prescription errors, a misdiagnosis, or session misconduct. Your place of work or private practice will have to have malpractice insurance.

Recommended: Best Entry-Level Jobs for Antisocial People

The Takeaway

You can earn a lot of money working as a psychiatrist if you are willing to spend years on your education, with the average psychiatrist salary coming in at $259,497. But helping others is also calling. When you make a difference in a person’s life, the rewards can be more than financial.

Whatever type of job you pursue, you’ll want to make sure your earnings can cover your everyday expenses. To help ensure your monthly inflows always exceed your monthly outflows, try creating a budget and check out financial tools that can help track your income and spending.

SoFi helps you stay on top of your finances.

FAQ

Can you make $100k a year as a psychiatrist?

Yes. The average salary range for a psychiatrist is $68,500 and $399,000 a year.

Do people like being a psychiatrist?

While the job can be emotionally draining at times, many psychiatrists find tremendous satisfaction in helping others.

Is it hard to get hired as a psychiatrist?

No. There is currently a great demand for psychiatrists, and there will likely always be a need to help patients with mental health issues.

---

Photo credit: iStock/SDI Productions

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.

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.

SORL0124032

Read more

The median annual pay for chefs is $56,520 for the most recent year studied, according to the Bureau of Labor Statistics. This can be a great career for foodies and creative types who love being in the kitchen and can deal with pressures of a food service job.

A good meal can really make someone’s day, whether they’re celebrating a special occasion or not. Chefs can work in a variety of settings, from local eateries to cruise ships to corporate dining rooms to test kitchens. Read on to learn more about the kind of salary a chef earns and more.

What Are Chefs?

Professional chefs do so much more than cook food.

•   Many chefs are in charge of other kitchen staff and help guide them to success in their careers. (For this reason, it may not be a good job for introverts.)

•   They may also manage inventory and ordering food and confirm ingredients are fresh and ready to use.

•   They may develop recipes and create menus.

•   Chefs may hire and train other chefs to work below them.

•   If a chef owns their own restaurant, they will also take on all the work associated with running a business.

Chefs don’t exclusively work in restaurants. Some may work for catering companies, in hotels, on cruise ships, or at event spaces. They may even work for large offices that cater food for employees each day or at schools and universities, feeding hungry students. There are also chefs who may run their own business, catering local parties and weddings, or providing baked goods for cafes.

What’s more, chefs don’t necessarily need special training. Some may have degrees in food service or hospitality, and others may have attended culinary school or taken classes in various techniques. But others are simply talented people with great skills and taste to share.

That said, working in food service can require being on your feet for long hours and with significant pressure since there are hungry people waiting to be fed.


💡 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 Chefs Make a Year?

Entry-level chefs can expect to make less than the average salary for a chef, as that figure reflects more years of experience and working one’s way up the pay scale. Instead, a person just starting out might expect to earn more on a par with the lowest 10% of chefs, or less than $33,750.

Worth noting: The top 10% of earners in this role make more than $91,520, indicating that there is the potential to earn $100,000 a year in this career. That is more likely to happen for those who live in major cities or land a job with a big brand or hospitality chain or perhaps find fame as a chef on social media.

What is the Average Salary for a Chef?

In addition to how experienced they are, what state a chef works in can also majorly impact how much money they earn. While the median nationwide salary for chefs is currently $56,520 per year, the following table highlights how much variance chefs can see in pay depending on the state they live and work in.

For example, chefs in New Jersey tend to earn more than the national median ($56,764 on average), whereas Florida chefs earn much less ($34,602 on average).

This table is arranged from highest to lowest salary, and shares hourly pay as well.

What is the Average Chef Salary by State for 2023

State	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
New Jersey	$56,764	$4,730	$1,091	$27.29
Wisconsin	$55,435	$4,619	$1,066	$26.65
Alaska	$54,063	$4,505	$1,039	$25.99
Massachusetts	$53,990	$4,499	$1,038	$25.96
Oregon	$53,816	$4,484	$1,034	$25.87
Washington	$53,813	$4,484	$1,034	$25.87
North Dakota	$53,670	$4,472	$1,032	$25.80
New Mexico	$53,309	$4,442	$1,025	$25.63
Minnesota	$52,646	$4,387	$1,012	$25.31
Hawaii	$52,603	$4,383	$1,011	$25.29
Ohio	$51,434	$4,286	$989	$24.73
Colorado	$51,407	$4,283	$988	$24.71
Nevada	$51,118	$4,259	$983	$24.58
New York	$50,810	$4,234	$977	$24.43
South Dakota	$50,724	$4,227	$975	$24.39
Rhode Island	$49,846	$4,153	$958	$23.96
Iowa	$49,742	$4,145	$956	$23.91
Vermont	$49,511	$4,125	$952	$23.80
Connecticut	$49,322	$4,110	$948	$23.71
Tennessee	$49,110	$4,092	$944	$23.61
Utah	$48,728	$4,060	$937	$23.43
Delaware	$48,579	$4,048	$934	$23.36
Mississippi	$48,486	$4,040	$932	$23.31
Virginia	$47,981	$3,998	$922	$23.07
Illinois	$47,511	$3,959	$913	$22.84
Maryland	$47,073	$3,922	$905	$22.63
California	$46,594	$3,882	$896	$22.40
Pennsylvania	$46,549	$3,879	$895	$22.38
Nebraska	$46,142	$3,845	$887	$22.18
Louisiana	$45,964	$3,830	$883	$22.10
Missouri	$45,660	$3,805	$878	$21.95
Kansas	$45,632	$3,802	$877	$21.94
Maine	$45,596	$3,799	$876	$21.92
South Carolina	$45,226	$3,768	$869	$21.74
New Hampshire	$45,221	$3,768	$869	$21.74
Oklahoma	$44,686	$3,723	$859	$21.48
Wyoming	$44,588	$3,715	$857	$21.44
Idaho	$44,507	$3,708	$855	$21.40
North Carolina	$44,293	$3,691	$851	$21.29
Texas	$44,148	$3,679	$849	$21.23
Indiana	$44,062	$3,671	$847	$21.18
Arizona	$43,151	$3,595	$829	$20.75
Kentucky	$42,767	$3,563	$822	$20.56
Michigan	$42,579	$3,548	$818	$20.47
Montana	$42,501	$3,541	$817	$20.43
Alabama	$41,970	$3,497	$807	$20.18
Arkansas	$40,542	$3,378	$779	$19.49
Georgia	$39,098	$3,258	$751	$18.80
West Virginia	$35,951	$2,995	$691	$17.28
Florida	$34,602	$2,883	$665	$16.64

Source: ZipRecruiter

Recommended: Pros and Cons of Raising Minimum Wage

Chef Job Considerations for Pay & Benefits

It’s hard to pinpoint what potential benefits chefs gain access to in addition to their hourly wage or annual salary.

That being said, many chefs who work full-time will qualify for traditional employer-sponsored benefits like retirement savings accounts, health insurance, and paid time off.

Chefs who work part-time may not qualify for any benefits, and those who own their own businesses will be responsible for securing those benefits.


💡 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 Chef Salary

The main advantage of a chef’s salary is that many years of expensive schooling aren’t required to earn a decent salary. Not having to worry about student loans can help a chef’s salary stretch a lot further. While some chefs may choose to attend culinary programs at a technical school, culinary arts school, community college, or a four-year college, this education can be obtained affordably.

On the flip side, it can be challenging to find a full-time role as a chef that comes with benefits, and the tradeoff for a decent salary is often very long and hard working hours, with a considerable degree of stress.

Recommended: What Does Competitive Pay Mean?

The Takeaway

Working as a chef can be an exciting way to earn a solid living. Those who are passionate about food will likely love going to work every day. This job does come with its challenges—primarily, it is physically demanding and under high pressure—but can be a great way to turn a love of food and cooking into a career.

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

FAQ

Can you make 100k a year as a chef?

While it is possible to earn $100,000 a year as a chef, it isn’t typical to earn that much. The median annual salary for chefs is $56,520. That being said, chefs who work in fine dining or who own their own businesses may be able to earn more competitive pay.

Do people like being a chef?

If someone loves to cook, they will likely enjoy being a chef. However, this job does require a lot of social interaction with other members of the kitchen and wait staff, so it’s not a great fit for anyone who is antisocial.

Is it hard to get hired as a chef?

There are about 22,000 openings annually for chefs and head cooks, and job opportunities are growing faster than average. So if someone has the right skill set and qualifications, they should be able to find a job as a chef. It is important to note that it may be challenging to get hired as a chef if someone lives in an area without a lot of restaurants or lacks industry experience.

---

Photo credit: Dimensions

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.

SORL0124033

Read more

The most recent median annual salary for physician assistants is $126,010 per year, according to the Bureau of Labor Statistics. This is significantly more (about twice) the average pay of all jobs in the US.

Working as a physicians assistant can be a fulfilling way to have a career in the medical industry without having to spend as much time or money on school as a doctor. Like doctors, physician assistants stand to make a lot of money, but can save on tuition costs since they typically only need a master’s degree to work in this role.

Keep reading to learn more about what physician assistants do and how much money they make.

What Are Physician Assistants?

A physician assistant is capable of performing a lot of tasks a medical doctor would perform, such as conducting patient examinations, diagnosing illnesses, and delivering treatments. They complete their work under physician supervision and their day-to-day responsibilities can include tasks like:

•   Obtaining and reviewing medical histories

•   Ordering diagnostic tests

•   Prescribing medications

•   Collaborating with healthcare teams.

A physician assistant can specialize in a specific healthcare field like primary care, emergency medicine, and psychiatry, which can affect their job responsibilities.

As mentioned above, these individuals typically have a master’s degree; this is usually a requirement for licensing. However, you don’t need to go to and pay for medical school.

Job opportunities are likely to be plentiful. The projected growth over 2022 to 2032 is 27%, which is very well above the single-digit average for most professions.


💡 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 Physician Assistants Make a Year?

Like any career, it takes time to earn a high salary when working as a physician assistant. When a physician assistant is entry-level, their salary may compare with the lowest 10% of earners in this role, who make $83,820 or less, but there is a lot of room for improvement here.

The highest 10% of earners make more than $168,120. In other words, it is indeed possible to earn $100,000 a year.

What is the Average Salary for a Physician Assistant?

The answer to the question—how much money does a physician assistant make—can vary depending on where a physician assistant works. Some jobs will pay more due to location. The following table illustrates the average salary for this role in each state and a quick glance makes it clear there is a lot of variance in pay by state. For example, a physician assistant in New York makes $44,095 more on average than someone in this role in Florida, which is quite a gap.

Below, this table shares how much a physician assistant job pays both by state and by different rates, including hourly pay, from highest to lowest.

Recommended: Best Jobs for Extroverts That Pay Well

What Is the Average Physician Assistant Salary by State for 2023

State	Annual Salary	Monthly Pay	Weekly Pay	Hourly
New York	$135,153	$11,262	$2,599	$64.98
Vermont	$132,952	$11,079	$2,556	$63.92
Maine	$127,291	$10,607	$2,447	$61.20
Pennsylvania	$123,776	$10,314	$2,380	$59.51
Washington	$123,029	$10,252	$2,365	$59.15
Massachusetts	$121,192	$10,099	$2,330	$58.27
New Hampshire	$120,808	$10,067	$2,323	$58.08
New Jersey	$120,671	$10,055	$2,320	$58.02
Alaska	$120,511	$10,042	$2,317	$57.94
Oregon	$119,212	$9,934	$2,292	$57.31
North Dakota	$119,074	$9,922	$2,289	$57.25
Wisconsin	$118,753	$9,896	$2,283	$57.09
Wyoming	$118,099	$9,841	$2,271	$56.78
Hawaii	$116,804	$9,733	$2,246	$56.16
Colorado	$115,983	$9,665	$2,230	$55.76
Indiana	$115,955	$9,662	$2,229	$55.75
New Mexico	$114,119	$9,509	$2,194	$54.86
Nevada	$113,947	$9,495	$2,191	$54.78
Minnesota	$113,836	$9,486	$2,189	$54.73
Arizona	$113,557	$9,463	$2,183	$54.59
South Dakota	$112,537	$9,378	$2,164	$54.10
Montana	$111,846	$9,320	$2,150	$53.77
Ohio	$110,903	$9,241	$2,132	$53.32
Alabama	$110,449	$9,204	$2,124	$53.10
Rhode Island	$110,419	$9,201	$2,123	$53.09
Delaware	$109,969	$9,164	$2,114	$52.87
Virginia	$108,760	$9,063	$2,091	$52.29
Connecticut	$108,357	$9,029	$2,083	$52.10
Iowa	$108,260	$9,021	$2,081	$52.05
Mississippi	$107,125	$8,927	$2,060	$51.50
Illinois	$107,052	$8,921	$2,058	$51.47
California	$106,842	$8,903	$2,054	$51.37
Maryland	$106,595	$8,882	$2,049	$51.25
Tennessee	$105,885	$8,823	$2,036	$50.91
Utah	$105,559	$8,796	$2,029	$50.75
Nebraska	$104,594	$8,716	$2,011	$50.29
Missouri	$103,224	$8,602	$1,985	$49.63
Georgia	$102,891	$8,574	$1,978	$49.47
South Carolina	$102,185	$8,515	$1,965	$49.13
1Idaho	$101,964	$8,497	$1,960	$49.02
Oklahoma	$101,291	$8,440	$1,947	$48.70
Texas	$101,057	$8,421	$1,943	$48.59
Kansas	$100,847	$8,403	$1,939	$48.48
North Carolina	$100,075	$8,339	$1,924	$48.11
Louisiana	$99,387	$8,282	$1,911	$47.78
Kentucky	$96,173	$8,014	$1,849	$46.24
Michigan	$96,099	$8,008	$1,848	$46.20
West Virginia	$95,594	$7,966	$1,838	$45.96
Arkansas	$91,350	$7,612	$1,756	$43.92
Florida	$91,058	$7,588	$1,751	$43.78

Source: Ziprecruiter

Physician Assistant Job Considerations for Pay & Benefits

It’s very common to work full-time as a physician assistant, which typically means that in addition to competitive pay, these professionals gain access to employer-sponsored benefits.

These may include:

•   Health insurance

•   Retirement plans

•   Paid sick days

•   Paid vacation

The tradeoff for a great compensation package can be having to work long hours or be on call. In addition, you may be exposed to medical emergencies, which can be stressful, and germs.

In addition, a career as a physician assistant requires much interaction with patients and the other members of the medical team. For this reason, it may not be a top choice as a job for antisocial people.


💡 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 Physician Assistant Salary

The main advantage of a physician assistant salary is that it is well over the national average for all jobs, which is currently $59,384. As you see, a physician assistant can possibly make twice that amount.

This high take-home pay may make it easier to create and stick to a monthly budget.

The only real downside of this salary is that to earn it, a master’s degree is necessary which can lead to student loan debt.

Recommended: How to Calculate Your Net Worth

The Takeaway

Building a career as a physician assistant can lead to making a high salary of $125,000-plus on average, or more than $168,120 for the top 10% of earners in this role. Many find this career path preferable to becoming a doctor as it requires spending a lot less time in school and the degree requirements come with a much lower sticker price. It’s also a fulfilling role for those who enjoy helping others.

SoFi helps you stay on top of your finances.

FAQ

Can you make 100k a year as a physician assistant?

It is very possible to earn $100,000 a year or more as a physician assistant. The median annual salary for this job is $126,010, and only the bottom 10% of earners in this specific role make less than $83,820.

Do people like being a physician assistant?

Those who are passionate about the medical field and who enjoy working with people tend to get a lot of job satisfaction from working as a physician assistant. However, an introvert may dislike how social this job requires them to be.

Is it hard to get hired as a physician assistant?

The good news for prospective physician assistants is that there are plenty of job openings to be found in this field, with a rapid growth of 27% from 2022 to 2032, and there is an average projection of approximately 12,200 job openings annually.

---

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.

SORL0124031

Read more

The most recent mean annual salary for teachers nationwide is $66,450, according to the Bureau of Labor Statistics. However, there can be considerable variation depending on where a person lives, what level of student they teach, how much experience they have, and other factors.

Working as a teacher comes with an equal set of challenges and rewards. Being able to help shape young minds can be very fulfilling as well as challenging.

Want to learn more about how much teachers make and what the role entails? Read on for more insight.

What Are Teachers?

Working as a teacher can look a bit different depending on whether the teacher works in an elementary, middle, or high school setting. That being said, all teachers create lesson plans and deliver those lessons to their students. They often work individually with students who need a bit of extra support and can help foster social and emotional development. Alongside instructing pupils, they grade assignments, write report cards, and meet with parents to help them understand their child’s education progress.

Teaching may not be the right career for those who are introverts. It typically involves interacting with students, their parents, and other faculty members for much of the workday.

Worth noting: Qualifications for teaching can vary. Teachers may be required to have certificates in order to teach, which can mean time, energy, and expense to attain those credentials.


💡 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 Teachers Make a Year?

Like many chosen career paths, working as an entry-level teacher often comes with a lower salary. How much money might a teacher make a year when they are first starting out? The mean salary for the lowest 10% of earners in this role nationwide is $30,230.

Incidentally, some teachers do rise to earn six figures. As teachers gain years of experience, they can increase their salary (the top 10% of earners make $102,800 per year).

What is the Average Salary for a Teacher?

Regarding how much a teacher can expect to earn on average, as briefly noted earlier, the national mean is $66,450. That being said, the state you work in can greatly impact how much they earn. Cost of living and other factors are responsible for the variation in salaries, which can be significant. For example:

•   The average annual salary in Florida is $32,088.

•   In Oregon, the average is $52,816.

Prospective teachers can review the following chart to learn more about what their salary and hourly wage expectations should be in their state.

What is the Average Teacher Salary by State for 2023

State	Annual Salary	Monthly Pay	Weekly Pay	Hourly Wage
Oregon	$52,816	$4,401	$1,015	$25.39
Alaska	$52,647	$4,387	$1,012	$25.31
North Dakota	$52,570	$4,380	$1,010	$25.27
Massachusetts	$52,116	$4,343	$1,002	$25.06
Hawaii	$51,472	$4,289	$989	$24.75
Washington	$50,724	$4,227	$975	$24.39
Nevada	$49,778	$4,148	$957	$23.93
South Dakota	$49,685	$4,140	$955	$23.89
Colorado	$49,299	$4,108	$948	$23.70
Rhode Island	$48,919	$4,076	$940	$23.52
Mississippi	$47,737	$3,978	$918	$22.95
New York	$47,209	$3,934	$907	$22.70
Delaware	$46,389	$3,865	$892	$22.30
Vermont	$46,082	$3,840	$886	$22.15
Virginia	$45,736	$3,811	$879	$21.99
Illinois	$45,640	$3,803	$877	$21.94
Maryland	$44,930	$3,744	$864	$21.60
Kansas	$44,913	$3,742	$863	$21.59
Nebraska	$43,985	$3,665	$845	$21.15
California	$43,746	$3,645	$841	$21.03
Missouri	$43,676	$3,639	$839	$21.00
South Carolina	$43,292	$3,607	$832	$20.81
Pennsylvania	$43,247	$3,603	$831	$20.79
New Jersey	$43,214	$3,601	$831	$20.78
Wisconsin	$42,811	$3,567	$823	$20.58
Maine	$42,741	$3,561	$821	$20.55
Oklahoma	$42,596	$3,549	$819	$20.48
North Carolina	$42,399	$3,533	$815	$20.38
New Hampshire	$42,049	$3,504	$808	$20.22
Idaho	$41,837	$3,486	$804	$20.11
Texas	$41,544	$3,462	$798	$19.97
Wyoming	$41,397	$3,449	$796	$19.90
Minnesota	$41,366	$3,447	$795	$19.89
Kentucky	$41,187	$3,432	$792	$19.80
New Mexico	$41,116	$3,426	$790	$19.77
Indiana	$40,861	$3,405	$785	$19.64
Michigan	$40,815	$3,401	$784	$19.62
Ohio	$40,205	$3,350	$773	$19.33
Arizona	$40,016	$3,334	$769	$19.24
Connecticut	$39,902	$3,325	$767	$19.18
Iowa	$39,557	$3,296	$760	$19.02
Montana	$39,413	$3,284	$757	$18.95
Arkansas	$38,945	$3,245	$748	$18.72
Alabama	$38,921	$3,243	$748	$18.71
Utah	$38,419	$3,201	$738	$18.47
Tennessee	$38,383	$3,198	$738	$18.45
Georgia	$36,258	$3,021	$697	$17.43
Louisiana	$36,117	$3,009	$694	$17.36
West Virginia	$33,400	$2,783	$642	$16.06
Florida	$32,088	$2,674	$617	$15.43

Source: ZipRecruiter

Recommended: What Trade Makes the Most Money?

Teacher Job Considerations for Pay & Benefits

How much a teacher earns and what type of benefits they qualify for can depend on if they choose to work as a full-time teacher or as a substitute teacher. If someone works as a substitute, they are generally paid a day rate only for the days they work and don’t qualify for benefits like health care or retirement plans.

However, working as a substitute teacher can be a great job for retirees looking to earn a bit of extra cash without committing to a consistent part-time work schedule. It might be good for someone who has a side hustle going or can fill in free days with work as, say, a rideshare driver or babysitter.

Full-time teachers generally qualify for those benefits and other traditional employee benefits like paid time off for sick and personal days. Some may even still qualify for pensions, which can be a real plus when it comes to retirement planning.

There’s also the fact that school is out in the summer. Some teachers may love this time off and want that family time. Others may choose to teach summer school or at a camp or otherwise bring in extra income. Still others may use that time for creative or entrepreneurial projects, but it’s important to note whether or not you will receive a paycheck during those months.


💡 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 Teacher Salary

Still on the fence about becoming a teacher? These are some of the common pros and cons associated with the salary.

Pros	Cons
Full-time salaries available	May not receive pay during summer or holiday breaks
Compensation package often includes benefits

Recommended: How to Negotiate for Competitive Pay

The Takeaway

The average teacher salary in the US tops $66,000. If someone has a passion for teaching and likes working with young people, they will likely love their job. There are also valuable benefits that may be available, such as paid vacations and summers off.

SoFi helps you stay on top of your finances.

FAQ

Can you make 100k a year as a teacher?

It is possible to make $100,000 a year as a teacher, which is a good salary. The 90th percentile of earners in this role nationwide brings home $102,800 annually. Teachers tend to see higher salaries as they gain years of work experience.

Do people like being a teacher?

Working as a teacher can be very hard work, but it is often very rewarding. Those who enjoy working with children and helping them learn will find they get a lot out of being a teacher. However, if they consider themselves to be antisocial, they may find this role very draining.

Is it hard to get hired as a teacher?

How challenging it is to get hired as a teacher can vary by location and year. It simply depends on what the current demand for teachers is. It is generally harder to find a role as a public school teacher as those jobs require having specific advanced degrees.

---

Photo credit: iStock/baona

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.

SORL0124023

Read more

While the median annual salary for delivery drivers as of 2022 is $38,220, according to the Bureau of Labor Statistics, data from Zippia suggests that salaries in the $40K to $60K realm are possible. What’s more, UPS reports that the average overall compensation package for a full-time UPS delivery driver is $145,000, which reflects the benefits package that employees can receive.

For those who like working independently and being behind the wheel, a career as a UPS (United Parcel Service) driver could be a good fit. Keep reading for a breakdown of how much UPS drivers can earn and what this role entails.

What Are UPS Drivers?

UPS drivers pick up and deliver packages on a designated driving route for the UPS, a global package delivery and logistics company. They can have routes that include stops at residential and business addresses. You may well be familiar with the brown UPS trucks arriving and departing from your home or workplace.

Being a UPS driver can be a good option for introverted people since much of the day is spent solo, though there can be some social interaction when dropping off packages and getting signatures for them. Also, obviously, a UPS driver will need to be comfortable behind the wheel, in traffic, and ensuring that parcels get from point A to point B.

In terms of qualifications, you will likely need to be at least age 23, have a clean driving record, be trained to drive a truck, and be able to physically move packages of a certain weight (say, up to 70 pounds). If you have these qualifications, being a UPS driver can be a good-paying job without a college degree being required.


💡 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 UPS Drivers Make a Year?

If someone is new to working as a UPS driver, they shouldn’t expect to earn a top salary just yet. If you’re wondering how much a UPS delivery driver makes when they are entry-level, the lowest 10% of earners can expect to earn less than $26,740.

Recommended: Is $100K a Good Salary?

What Is the Average Salary for a UPS Driver?

You’re probably curious about how much a UPS driver can make annually, or on salary vs. hourly.

The answer to that question depends greatly on what state they work in. As the table illustrates below, the average hourly pay for UPS drivers can range from $19.56 to $30.05.

These figures are well above the national minimum wage.

What Is the Average UPS Driver Salary by State for 2023

State	Average UPS Annual Salary	Average UPS Hourly Pay
Washington	$62,505	$30.05
Maryland	$61,709	$29.67
Nebraska	$60,422	$29.05
Virginia	$59,629	$28.67
New York	$59,560	$28.63
Delaware	$57,768	$27.77
New Hampshire	$57,620	$27.70
Oklahoma	$56,158	$27.00
California	$55,951	$26.90
Massachusetts	$55,194	$26.54
Vermont	$54,335	$26.12
Hawaii	$90,774	$81,140
Wyoming	$53,284	$25.62
Idaho	$52,592	$25.28
Connecticut	$51,960	$24.98
Maine	$51,899	$24.95
West Virginia	$51,761	$24.89
Rhode Island	$51,216	$24.62
Texas	$50,950	$24.50
Alaska	$50,914	$24.48
Pennsylvania	$50,885	$24.46
New Jersey	$50,597	$24.33
Montana	$50,538	$24.30
Nevada	$50,513	$24.29
North Dakota	$50,498	$24.28
Arizona	$50,017	$24.05
Indiana	$49,697	$23.89
Minnesota	$49,294	$23.70
Tennessee	$49,247	$23.68
Wisconsin	$49,032	$23.57
South Dakota	$49,023	$23.57
Ohio	$48,890	$23.50
Oregon	$48,264	$23.20
Utah	$48,259	$23.20
Georgia	$48,251	$23.20
Louisiana	$47,806	$22.98
South Carolina	$47,733	$22.95
Colorado	$47,552	$22.86
Kansas	$47,541	$22.86
Alabama	$47,122	$22.65
Iowa	$47,070	$22.63
New Mexico	$46,586	$22.40
Florida	$45,476	$21.86
Kentucky	$45,448	$21.85
Arkansas	$44,646	$21.46
Michigan	$44,626	$21.45
Mississippi	$44,537	$21.41
Illinois	$44,403	$21.35
Missouri	$43,694	$21.01
North Carolina	$40,675	$19.56

Source: Zippia

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

UPS Driver Job Considerations for Pay & Benefits

A job as a UPS driver can appeal to those who have not earned a college degree and those who enjoy driving. However, this can be a physically demanding job, considering you are behind the wheel and carrying packages all day, and it may be stressful to be in traffic or dealing with the pressures of getting packages to their destination. Many workers, however, will enjoy the independence. It can be a good job for antisocial people, too.

Along with receiving a salary, UPS drivers also gain access to valuable employee benefits. This table highlights the current benefits for UPS drivers.

Healthcare	Paid Time Off	Retirement
$0 premiums	Up to seven weeks vacation, 18 holidays, sick leave, and option days	Defined benefit pension plan

Pros and Cons of UPS Driver Salary

There aren’t any notable cons associated with the UPS driver salary. These roles are in high demand and often regarded as having competitive pay and great employee benefits. The real question may be whether the job suits a particular employee’s needs and if they enjoy the challenges of the job, such as driving all day.

Recommended: How Much House Can I Afford?

The Takeaway

The average full-time truck driver in the US makes $38,220 a year, but UPS workers seem to average in the $40k to $60k range. In addition to pay, UPS drivers gain access to valuable employee benefits like employer-sponsored healthcare, paid time off, and a pension plan. These benefits can help people balance their budget and enjoy quality of life, personally and financially.

FAQ

Can you make 100k a year as a UPS driver?

Yes, it may be possible to make $100,000 or more a year as a UPS driver, depending on where you work, how long you have been on the job, and what your specific role is. UPS drivers earn good salaries and on average, full-time drivers earn a compensation package of up to $145,000, according to UPS.

Do people like being a UPS driver?

Many people enjoy being a UPS driver due to the independent and consistent nature of the work. Those who would prefer to spend their days on their own versus working on a team could enjoy this role.

Is it hard to get hired as a UPS driver?

Because UPS drivers earn good salaries and have robust benefits packages, these can be competitive roles to land. That being said, UPS hires drivers all across the country so there are many job opportunities with this company.

---

Photo credit: iStock/sturti

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.

SORL0124019

Read more