How Much Does a Dermatologist Make a Year

According to the Bureau of Labor Statistics, the mean annual wage for a dermatologist as of 2022 is $327,650. This career can be a challenging and rewarding profession, both financially and emotionally. Dermatologists can help their patients look and feel their best. In some cases, they can even save their lives.

Read on to better understand what it’s like to work as a dermatologist, how much they earn, and the benefits and downsides of choosing this line of work.

What Are Dermatologists

Dermatologists are a type of doctors who specialize in the field of dermatology. They manage diagnoses and treatments relating to skin, hair, and nail health. They help patients with issues ranging from eczema and skin infections to acne and skin cancer.

Some dermatologists perform cosmetic procedures like laser treatments, injections, and chemical peels. An important role that dermatologists also take on is educating patients on sun protection to help them avoid running into skin damage and skin cancer.

As you might imagine, considerable training is involved to become a dermatologist. Typically, it can take 12 years of training and education. To complete this, some aspiring dermatologists will take out student loans. The amount of average student loan debt can be similar to the amount any other medical doctor takes on, meaning in the range of $200,000.


💡 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.

Check your score with SoFi

Track your credit score for free. Sign up and get $10.*


How Much Do Starting Dermatologists Make a Year?

It’s important to note that dermatologists will likely see their salaries rise over time. While their entry-level salary may be lower than the average figure, it should rise over time.

That being said, the lowest 10% of earners in this role make an estimated annual wage of $102,010. So even the lowest income is likely around or over the $100,000 a year salary level.

What is the Average Salary for a Dermatologist?

As briefly noted earlier, the average salary or hourly wage for a dermatologist can be affected by where they work.

This applies to the type of medical practice or healthcare setting they work in. Consider the annual mean wage by workplace, all of which can be relatively high-paying jobs:

•   Offices of physicians: $338,810

•   Offices of other health practitioners: $200,900

•   Personal care services: $126,640

Next, take a closer look at how dermatologist salaries vary by the state they work in, arranged from highest annual pay to lowest.


What is the Average Dermatologist Salary by State for 2023

State

Annual Salary

Monthly Pay

Weekly Pay

Hourly Wage

New York $417,984 $34,832 $8,038 $200.95
Vermont $410,790 $34,232 $7,899 $197.50
California $403,464 $33,622 $7,758 $193.97
Maine $391,809 $32,650 $7,534 $188.37
Idaho $387,606 $32,300 $7,453 $186.35
Washington $384,581 $32,048 $7,395 $184.90
Pennsylvania $382,812 $31,901 $7,361 $184.04
Massachusetts $378,130 $31,510 $7,271 $181.79
Alaska $375,736 $31,311 $7,225 $180.64
New Jersey $374,345 $31,195 $7,198 $179.97
New Hampshire $373,458 $31,121 $7,181 $179.55
Oregon $371,445 $30,953 $7,143 $178.58
North Dakota $371,076 $30,923 $7,136 $178.40
Wisconsin $368,704 $30,725 $7,090 $177.26
Wyoming $365,397 $30,449 $7,026 $175.67
Hawaii $364,033 $30,336 $7,000 $175.02
Colorado $362,070 $30,172 $6,962 $174.07
Indiana $358,997 $29,916 $6,903 $172.60
Nevada $355,272 $29,606 $6,832 $170.80
New Mexico $354,287 $29,523 $6,813 $170.33
Minnesota $353,792 $29,482 $6,803 $170.09
Arizona $351,574 $29,297 $6,761 $169.03
South Dakota $350,707 $29,225 $6,744 $168.61
Montana $346,277 $28,856 $6,659 $166.48
Ohio $344,572 $28,714 $6,626 $165.66
Rhode Island $344,050 $28,670 $6,616 $165.41
Delaware $343,410 $28,617 $6,604 $165.10
Alabama $341,952 $28,496 $6,576 $164.40
Virginia $339,682 $28,306 $6,532 $163.31
Connecticut $337,334 $28,111 $6,487 $162.18
Iowa $336,698 $28,058 $6,474 $161.87
Illinois $334,142 $27,845 $6,425 $160.65
Mississippi $333,696 $27,808 $6,417 $160.43
Maryland $332,886 $27,740 $6,401 $160.04
Tennessee $328,977 $27,414 $6,326 $158.16
Utah $328,133 $27,344 $6,310 $157.76
Nebraska $326,672 $27,222 $6,282 $157.05
Missouri $322,302 $26,858 $6,198 $154.95
South Carolina $319,039 $26,586 $6,135 $153.38
Georgia $318,554 $26,546 $6,126 $153.15
Oklahoma $316,356 $26,363 $6,083 $152.09
Texas $315,939 $26,328 $6,075 $151.89
Kansas $314,148 $26,179 $6,041 $151.03
North Carolina $312,455 $26,037 $6,008 $150.22
Louisiana $308,889 $25,740 $5,940 $148.50
Kentucky $300,127 $25,010 $5,771 $144.29
Michigan $300,010 $25,000 $5,769 $144.24
West Virginia $295,651 $24,637 $5,685 $142.14
Arkansas $285,133 $23,761 $5,483 $137.08
Florida $281,918 $23,493 $5,421 $135.54

Source: Ziprecruiter



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

Dermatologist Job Considerations for Pay & Benefits

Alongside receiving competitive pay, many dermatologists work full-time and therefore qualify for employer benefits.

•   If they run their own medical practice, they would need to purchase these benefits for themselves and their employees.

•   If they work for a practice they don’t own, a medical group, or in a hospital setting, they should qualify for valuable employee benefits like paid time off, retirement accounts, and healthcare.

Pros and Cons of Dermatologist Salary

The main advantage of a dermatologist salary is that it is usually quite high. The tradeoff for that high salary may be a lot of student loan debt, as noted above.

To work as a dermatologist in the United States, you need to attend and finance medical school after receiving an undergraduate degree, which can be quite time-consuming and costly.

The Takeaway

Working as a dermatologist makes it possible to help people dealing with skin care and concerns, while earning a good salary. Dermatologists earn a median annual wage of $327,650, which is a salary many people would be happy with. However, obtaining the necessary training can be quite expensive, so dermatologists may start their careers with considerable student loan debt to pay off.

FAQ

Can you make 100k a year as a dermatologist?

It’s very possible to earn $100,000 a year as a dermatologist. Even the 10% of lowest wage earners in this role earn an estimated annual salary of $102,010.

Do people like being a dermatologist?

Many people enjoy working as a dermatologist as this role can be fulfilling. Not only is the work interesting (diagnosing and resolving health concerns), but it involves helping people live healthier and happier lives.

Is it hard to get hired as a dermatologist?

It may not be challenging to find a job as a dermatologist once the applicant has the proper qualifications as the field is growing at a rate that is at least on par with other professions, if not higher.


Photo credit: iStock/stefanamer

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.

SORL0124022

Read more

How Much Does a Surgical Tech Make a Year

The median pay for surgical techs is $56,350 annually, according to the Bureau of Labor Statistics.

Working as a surgical tech can be a great way to build a fulfilling career in the medical field. Read on to learn more about a surgical tech’s role and salary, as well as the pros and cons of this job.

What Are Surgical Techs

The role of a surgical tech can vary greatly but generally involves assisting surgeons with tasks, such as closing surgical sites and making incisions. Other common duties include:

•   Readying supplies for surgery

•   Sterilizing equipment

•   Getting the operating room surgery-ready

•   Physically preparing patients for surgery

•   Assisting surgeons during surgery

•   Maintaining sterile environment

•   Keeping track of supplies during and after surgery.

While some of these tasks are solitary, many involve interacting with patients and other members of the medical team. Given this degree of interaction, this can be a very rewarding career choice, although it may not be a good job for antisocial people.

Surgical techs often complete training at a community college or vocational school, typically requiring nine to 24 months of study. For this reason, being a surgical tech can be a good career without a college degree.


💡 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.

Check your score with SoFi

Track your credit score for free. Sign up and get $10.*


How Much Do Starting Surgical Techs Make a Year?

Here’s information about what a surgical tech can make as an entry-level salary and later on in their career. The lowest 10% of surgical tech earners make less than $35,130 as of 2022.

However, there is a lot of room to move up in this field. The top 10% of earners make on average $95,060, meaning they are very close to making a $100,000 salary per year.

If someone is looking to optimize their earning potential, they should look for a surgical tech role in a high-paying setting. The type of medical office a surgical tech works in can affect how much they earn:

•   Offices of physicians: $62,400

•   Outpatient care centers: $59,740

•   General medical and surgical hospitals; state, local, and private: $58,460

•   Offices of dentists: $48,810.

Recommended: The 50 Highest Paying Jobs in the US

What is the Average Salary for a Surgical Tech?

Those considering training to be a surgical tech may wonder about pay grades. The truth is, that answer depends a lot on the state they end up working in. The median hourly pay rate for this role is $27.09, but as the table illustrates below, can vary greatly by state.

The figures here for average salary and wages are arranged from highest to lowest paying.


What Is the Average Surgical Tech Salary by State for 2023

State

Annual Salary

Monthly Pay

Weekly Pay

Hourly Wage

Oregon $112,962 $9,413 $2,172 $54.31
Alaska $112,406 $9,367 $2,161 $54.04
North Dakota $112,389 $9,365 $2,161 $54.03
Massachusetts $111,047 $9,253 $2,135 $53.39
Hawaii $110,015 $9,167 $2,115 $52.89
Washington $107,487 $8,957 $2,067 $51.68
Nevada $106,280 $8,856 $2,043 $51.10
South Dakota $106,220 $8,851 $2,042 $51.07
Colorado $104,887 $8,740 $2,017 $50.43
Rhode Island $104,629 $8,719 $2,012 $50.30
New York $99,697 $8,308 $1,917 $47.93
Delaware $98,598 $8,216 $1,896 $47.40
Vermont $97,356 $8,113 $1,872 $46.81
Virginia $97,172 $8,097 $1,868 $46.72
Illinois $97,143 $8,095 $1,868 $46.70
Maryland $95,489 $7,957 $1,836 $45.91
Nebraska $93,450 $7,787 $1,797 $44.93
Missouri $92,871 $7,739 $1,785 $44.65
California $92,615 $7,717 $1,781 $44.53
South Carolina $92,071 $7,672 $1,770 $44.26
Pennsylvania $91,330 $7,610 $1,756 $43.91
New Jersey $91,143 $7,595 $1,752 $43.82
Oklahoma $90,500 $7,541 $1,740 $43.51
Maine $90,453 $7,537 $1,739 $43.49
Wisconsin $90,262 $7,521 $1,735 $43.40
North Carolina $90,170 $7,514 $1,734 $43.35
New Hampshire $88,816 $7,401 $1,708 $42.70
Idaho $88,596 $7,383 $1,703 $42.59
Texas $88,000 $7,333 $1,692 $42.31
Kentucky $87,715 $7,309 $1,686 $42.17
Wyoming $87,407 $7,283 $1,680 $42.02
Minnesota $87,181 $7,265 $1,676 $41.91
Michigan $86,830 $7,235 $1,669 $41.75
New Mexico $86,691 $7,224 $1,667 $41.68
Indiana $86,252 $7,187 $1,658 $41.47
Ohio $84,743 $7,061 $1,629 $40.74
Arizona $84,468 $7,039 $1,624 $40.61
Connecticut $84,039 $7,003 $1,616 $40.40
Mississippi $83,449 $6,954 $1,604 $40.12
Iowa $83,345 $6,945 $1,602 $40.07
Montana $83,195 $6,932 $1,599 $40.00
Arkansas $82,892 $6,907 $1,594 $39.85
Alabama $82,157 $6,846 $1,579 $39.50
Utah $80,963 $6,746 $1,556 $38.92
Tennessee $80,904 $6,742 $1,555 $38.90
Kansas $78,574 $6,547 $1,511 $37.78
Georgia $76,536 $6,378 $1,471 $36.80
Louisiana $76,117 $6,343 $1,463 $36.59
West Virginia $70,535 $5,877 $1,356 $33.91
Florida $67,735 $5,644 $1,302 $32.57

Source: Ziprecruiter



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

Surgical Tech Job Considerations for Pay & Benefits

It’s very common for surgical techs to hold full-time positions and as such, they tend to qualify for traditional employee benefits like paid time off, retirement accounts, and healthcare. This can be a very demanding role that may require being on call during weekends, holidays, and nights. Shifts can also be very lengthy and last longer than a typical eight-hour workday.

Pros and Cons of Surgical Tech Salary

Still not sure if working as a surgical tech is the right fit? Here are some pros and cons associated with this role’s salary and job requirements.

Pros

Cons

•   Median annual salary is high ($56,350)

•   May not need a college degree

•   Employment opportunities expected to grow by 5% from 2022 to 2032

•   Around 8,600 openings for this role per year

•   Long shifts that can surpass eight hours

•   Physically demanding work

•   Can be on call during nights, weekends, and holidays

Recommended: High-paying Trade and Vocational Jobs in 2024

The Takeaway

With a solid median annual salary of $56,350 and the top 10% of income earners in the surgical tech field making more than $95,060, there is a lot of earning potential in this role. The job can be demanding and being on call is often part of the job description, but the high pay can be worth the sacrifices.

FAQ

Can you make 100k a year as a surgical tech?

It may be possible to make $100,000 a year as a surgical tech for those with a lot of experience or who work in high-cost-of-living areas where standard pay is higher. The top 10% of surgical tech earners make more than $95,060 annually, so the potential to earn six figures is within reach.

Do people like being a surgical tech?

Many people enjoy working as a surgical tech, especially if they have an interest in the medical field and helping people. However, those who are introverts or who consider themselves antisocial may not enjoy this job.

Is it hard to get hired as a surgical tech?

While you have to meet very specific qualifications to work as a surgical tech, if you do, you can likely find job openings in this field. Between 2022 and 2023, surgical tech employment is projected to grow by 5%. This growth rate is faster than average compared to other occupations.


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.

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

SORL0124021

Read more

How Much Does a News Anchor Make a Year?

News anchors make an average salary of around $48,000 a year, according to ZipRecruiter.

But keep in mind there are many factors taken into account when determining pay, including experience, market size, location, and the size of the employer. For example, news anchors working in locations with larger audience sizes and for bigger networks or cable news will generally make higher salaries.

Let’s take a closer look.

What Are News Anchors?

News anchors are journalists who are responsible for delivering the news to their audience. These professionals can work for a television, radio, cable, or media outlet. Some work in local markets, while others broadcast in national markets or on cable news.

News anchors spend some days in the newsroom and others covering a story out in the field. Many start their careers as reporters, covering a specific beat or coverage area, like state and local government, education, or local businesses.

As a news anchor, it’s important to stay up to date on current events and have strong interview, researching, and writing skills. And since you’ll likely handle breaking news from time to time, it also helps if you’re good at multitasking and staying calm under pressure.

News anchors also have a lot of interaction with other people and work with a team, including producers, reporters, audio engineers, and camera operators. If this much interaction isn’t the right fit for you, you may want to look into jobs for introverts.

Like many journalism roles, a news anchor requires a bachelor’s degree. Internships can be a great way to gain experience in the field, establish contacts, and start building your professional network.



💡 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.

Check your score with SoFi

Track your credit score for free. Sign up and get $10.*


How Much Do Starting News Anchors Make?

An entry-level news reporter makes an average of $42,378 a year, according to ZipRecruiter.

That said, there are many factors that come into play when determining salary, such as location and experience. It’s common for news anchors to start their careers as reporters in small local markets and work their way up to anchor desks in larger news markets. Bigger markets — and more viewers — typically bring higher salaries.

Many considerations should go into what makes a good entry-level salary, including work schedule flexibility, paid time off, and benefits like health insurance and a retirement plan.

Recommended: How to Save for Retirement

What Is the Average Salary for a News Anchor?

As mentioned, the average salary for a news anchor is $48,077 a year, according to ZipRecruiter. If you want to break it down to how much a news anchor makes an hour, the average is roughly $23.

For the top earners, the average salary is around $58,500 a year, and for the bottom 25th percentile the average salary is $40,000. Some news anchors, usually those working at major news networks, can make more than $100,000 a year.

However, no matter how much you earn, it’s a good idea to set short- and long-term financial goals. A money tracker app can help you monitor your spending and saving and also provide useful insights.

What Is the Average News Anchor Salary by State?

While some news anchors take home a hefty salary, journalism roles tend not to be the highest-paying jobs in a state.

Here are the average salaries for broadcasters, which includes news anchors, by state, according to job site Indeed.

State

Average Annual Salary

Alabama $41,440
Alaska $50,158
Arizona $67,395
Arkansas $50,095
California $54,037
Colorado $38,191
Connecticut $35,679
Delaware $48,850
District of Columbia $72,020
Florida $58,604
Georgia $53,861
Hawaii $48,486
Idaho $37,746
Illinois $43,937
Indiana $40,036
Iowa $36,817
Kansas $48,507
Kentucky $73,544
Louisiana $33,166
Maine $48,112
Maryland $82,211
Massachusetts $50,718
Michigan $30,325
Minnesota $37,208
Mississippi $28,231
Missouri $39,389
Montana $26,619
Nebraska $35,524
Nevada $41,694
New Hampshire $39,691
New Jersey $54,005
New Mexico $33,998
New York $68,577
North Carolina $48,594
North Dakota $47,960
Ohio $35,806
Oklahoma $27,667
Oregon $64,004
Pennsylvania $46,982
Rhode Island $49,548
South Carolina $47,231
South Dakota $46,124
Tennessee $38,544
Texas $35,351
Utah $43,523
Vermont $47,257
Virginia $29,835
Washington $97,632
West Virginia $46,234
Wisconsin $57,765
Wyoming $40,005

Recommended: What Is Competitive Pay?

News Anchor Job Considerations for Pay and Benefits

Being in the news industry means covering fresh stories and meeting new people every day, but the pace can be relentless. Breaking news can happen at any time and anywhere, which can mean working beyond a typical 9-5 schedule and having to travel unexpectedly.

News anchor compensations can also include benefits like a retirement savings plan and health insurance. Some roles may also come with added perks like car services and wardrobe stipends. Bonuses can also be common in the industry.

It’s important to note that the journalism industry can be shaky and is expected to shrink in the coming years. The Labor Department forecasts that employment of news analysts, reporters, and journalism will drop 3% from 2022-2032. That means that it expects there to be 56,600 jobs in the industry in 2032 compared to 58,500 in 2022.



💡 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 News Anchor Salary

There are many factors to consider when evaluating a salary, including the local cost of living and your spending and debt levels. Advancing into bigger markets can bring a substantial pay increase for news anchors.

The life of a news anchor can seem glamorous between the wardrobe, hair and makeup, and lights and cameras. But the news cycle can be draining, and there isn’t a lot of flexibility when it comes to the schedule or remote work options.

Morning news anchors will start their days before the sun comes up, preparing for interviews, catching up on news, and reviewing a show’s rundown. If you are looking for roles with more flexibility, you may want to explore work-from-home jobs.

The Takeaway

Becoming a news anchor means taking on the responsibility of delivering news to viewers. A typical news anchor salary is around $48,077 a year, per ZipRecruiter.

But that figure can vary depending on experience, the size of the employer, the size of the market, and other factors. Typically, news anchors start their careers in smaller, local markets. As they gain more experience, they may have opportunities to advance to larger markets, which tend to pay more.

If you’re passionate about the news and want to help keep your community informed, a career as a news anchor may be right for you.

With SoFi, you can keep tabs on how your money comes and goes.

FAQ

What is the highest-paying news anchor job?

Generally speaking, news anchors can make more working in a major, national market. For instance, prime-time television news anchors who work for major media broadcasters can earn millions per year.

Do news anchors make $100k a year?

Anchors who work at a major news network might earn more than $100,000 a year. However, the average salary is closer to $48,077 a year.

How much do news anchors make starting out?

According to ZipRecruiter, an entry-level news reporter earns around $42,378 per year. Location, experience, and the size of the employer can all play a role in a starting salary for a news anchor.


Photo credit: iStock/milanvirijevic

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.

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.

*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.

SORL1023015

Read more

How Much Does a Phlebotomist Make a Year?

Phlebotomists who have a few years of experience under their belt can make around $38,530 per year or $18.53 an hour, according to the latest data from the Bureau of Labor Statistics (BLS).

In addition to a stable salary, the profession offers flexibility, versatility, and opportunities for advancement. However, before you can start work, you’ll need to earn a certificate from a postsecondary phlebotomy program.

Here’s a look at the earning potential of phlebotomists and the pros and cons of this career.

Check your score with SoFi

Track your credit score for free. Sign up and get $10.*


What Are Phlebotomists?

An essential supporting member of the healthcare community, phlebotomists are responsible for drawing blood for donations, medical exams, procedures, or research. They also help support patients who may be anxious about the blood draw or who struggle with an adverse reaction post-draw.

Other job duties often include:

•   Verifying a patient’s identity

•   Collect and labeling blood or other samples

•   Entering sample information into a database

•   Assembling, disposing of, and maintaining medical instruments

•   Cleaning and sanitizing the work area and equipment

•   Shipping or transporting blood or samples

Because phlebotomy requires a good bedside manner, it may not be the best fit for antisocial people.


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

How Much Do Starting Phlebotomists Make?

Those new to the field can expect to earn less than the average — the lowest 10% of phlebotomist earners bring home less than $30,250, according to the BLS.

However, the earning potential of an entry-level phlebotomist typically goes up as they gain work experience and skills. BLS data shows that the top 10% of phlebotomist earners earn more than $51,610.

No matter where you are in your career, having a budget can be an important tool for tracking spending and savings goals. A money tracker app can give you real-time insights so you can continue making progress on your financial goals.

What Is the Average Salary for a Phlebotomist?

Where someone lives can play a role in how much income they earn as a phlebotomist. As the following table shows, phlebotomists in some states earn a much higher salary than others. For example, in Oregon, a typical salary is $45,769 a year; in Florida, it’s $27,444.

What Is the Average Phlebotomist Salary by State?

State

Annual Salary

Alabama $33,287
Alaska $45,543
Arizona $34,224
Arkansas $33,585
California $37,525
Colorado $42,497
Connecticut $34,050
Delaware $39,949
Florida $27,444
Georgia $31,009
Hawaii $44,574
Idaho $35,896
Illinois $39,358
Indiana $34,946
Iowa $33,768
Kansas $31,836
Kentucky $35,539
Louisiana $30,840
Maine $36,649
Maryland $38,689
Massachusetts $44,992
Michigan $35,181
Minnesota $35,323
Mississippi $33,811
Missouri $37,628
Montana $33,708
Nebraska $37,863
Nevada $43,061
New Hampshire $35,986
New Jersey $36,928
New Mexico $35,124
New York $35,124
North Carolina $40,394
North Dakota $45,536
Ohio $34,335
Oklahoma $36,667
Oregon $45,769
Pennsylvania $37,004
Rhode Island $42,392
South Carolina $37,304
South Dakota $43,037
Tennessee $32,780
Texas $35,654
Utah $32,803
Vermont $39,445
Virginia $39,371
Washington $43,550
West Virginia $28,579
Wisconsin $36,571
Wyoming $35,414

Source: ZipRecruiter

Recommended: Is a $100,000 a Year Salary Good?

Phlebotomist Job Considerations for Pay and Benefits

When researching how much money a phlebotomist makes, it’s important to factor in potential benefits.

While the median annual wage for phlebotomists is $38,530, their total compensation package can be much higher if they qualify for benefits like health insurance or a 401(k) match. Because it’s common to hold a full-time role as a phlebotomist at a hospital or lab, it’s possible to find a role that offers a standard suite of employee benefits, like paid vacation and dental coverage.

Looking to get the most competitive pay? Consider focusing your job-search efforts on work settings that tend to pay more. Let’s take a look at the median annual salary for phlebotomists in a few different workplaces:

•   Outpatient care centers: $42,750

•   Medical and diagnostic laboratories: $41,580

•   Hospitals: $37,400

•   Offices of physicians: $36,970

•   All other ambulatory healthcare services: $36,190

Recommended: Salary vs. Hourly Pay

Pros and Cons of Phlebotomist Salary

Like any career path, phlebotomy has its share of advantages and disadvantages.


Pros Cons

•   Employment of phlebotomists is anticipated to grow 8% between now and 2032

•   Around 19,500 openings for phlebotomists are projected each year

•   Essential role in high demand

•   Full-time work available

•   Employee benefits are common

•   Certificate from a postsecondary phlebotomy program often required

•   May have to work nights, weekends, and holidays
On-the-job travel may be required

•   No option to work from home

•   Workers need to stand for long periods of time

•   Potential for injuries and illness when handling medical equipment



💡 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.

The Takeaway

To recap: How much does a phlebotomist make a month? Phlebotomists can expect to earn about $3,211 per month, which translates to $38,530 per year. But their earning potential can rise as they gain experience and skills, or if they work in a more lucrative setting, like an outpatient care center.

If you have a steady hand and a good bedside manner, then a career in phlebotomy may be a good fit for you.

FAQ

What is the highest-paying phlebotomist job?

Typically, phlebotomists who work in outpatient care centers make the most out of their peers. The median salary for phlebotomists in outpatient care centers was $42,750 as of 2022, per the BLS.

Do phlebotomists make $100k a year?

Typically, phlebotomists don’t earn a $100,000 salary. The median annual wage for phlebotomists is $38,530, and only the highest 10% of earners make around $51,610.

How much do phlebotomists make starting out?

When first starting their careers, phlebotomists should expect to make lower than the median annual wage for this role. The lowest 10% of earners in this role earn less than $30,250. However, their income may rise as they gain more experience.


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.

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.

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.

SORL1023008

Read more

How Much Does a Nurse Make a Year?

Nursing can be a well-paying profession. According to the Bureau of Labor Statistics (BLS), the median salary for a registered nurse (RN) is $81,220 per year or $39.05 per hour.

In fact, nursing can be a rewarding career path in more ways than one. Not only can these healthcare professionals provide for themselves financially, they also care for people during times of need.

To better understand what it’s like working as a nurse and what the earning potential is, keep reading.

Check your score with SoFi

Track your credit score for free. Sign up and get $10.*


What Are Nurses?

An RN provides patients with care and support, and they offer education on health issues and conditions. Responsibilities can vary by workplace and specialty. For example, a geriatric nurse works with elderly patients and provides a different type of care than an oncology nurse, who supports patients with cancer.

Generally speaking, an RN’s tasks often include the following:

•   Evaluate the condition of patients.

•   Set up care plans for patients.

•   Consult and collaborate with doctors and other healthcare providers.

•   Operate and monitor medical equipment.

•   Document patients’ medical backgrounds and symptoms.

•   Administer medications and treatments.

•   Assist in conducting diagnostic tests and analyzing the results.

•   Educate patients and their families on managing illnesses or injuries.

•   Provide instructions for post-treatment care at home.

Nurses often work on a team made up of other nurses, physicians, and healthcare specialists. Some nurses may even supervise other RNs, nursing assistants, or home health aids. Because of how much collaboration and patient interaction is involved in nursing, this role may not be a great fit for introverts.


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

How Much Do Starting Nurses Make?

On average, entry-level nurses earn around $80,321 a year or $39 per hour, according to ZipRecruiter. But keep in mind that amount represents a middle ground; incomes for nurses fresh out of school can run the gamut from $36,000 to $136,000.

Recommended: What Is Competitive Pay?

What Is the Average Salary for a Nurse?

Unlike some other healthcare professionals, nurses may be paid hourly or earn an annual salary. They can also make extra by working overtime, overnight, or on holidays. As mentioned, nurses who are paid by the hour earn a median rate of $39.05 or $81,220 per year.

It’s worth noting that where a nurse chooses to work can significantly affect how much they earn. When it comes to settings that pay the most money, the government comes out on top. Let’s take a look at the median annual wage for nurses across a variety of settings, per the BLS:

•   Government: $92,310

•   Hospitals: $82,250

•   Ambulatory healthcare services: $78,670

•   Nursing and residential care facilities: $75,410

•   Educational services: $65,450

Nurses also have the option to take travel assignments, which can be an attractive option for professionals seeking flexibility, short-term assignments, and competitive pay. Travel nurses can expect to earn anywhere from $81,000 to $128,00 a year.

To help manage that high level of income, consider digital tools like a money tracker app. In addition to being convenient, it can help take the guesswork out of budgeting and setting financial goals.

What Is the Average Salary by State for a Nurse?

The state a nurse chooses to work in can greatly influence how much they earn, as illustrated by the following table:

State

Average Annual Salary

Alabama $68,782
Alaska $78,193
Arizona $70,717
Arkansas $71,792
California $78,490
Colorado $90,700
Connecticut $69,698
Delaware $84,924
Florida $56,707
Georgia $64,076
Hawaii $75,614
Idaho $75,172
Illinois $84,135
Indiana $72,210
Iowa $69,236
Kansas $65,099
Kentucky $76,147
Louisiana $63,306
Maine $76,539
Maryland $82,211
Massachusetts $78,960
Michigan $75,056
Minnesota $72,508
Mississippi $69,141
Missouri $80,121
Montana $69,652
Nebraska $80,357
Nevada $73,935
New Hampshire $74,558
New Jersey $76,040
New Mexico $72,231
New York $83,627
North Carolina $77,842
North Dakota $77,045
Ohio $70,515
Oklahoma $77,820
Oregon $77,062
Pennsylvania $76,604
Rhode Island $71,379
South Carolina $79,483
South Dakota $72,815
Tennessee $67,322
Texas $74,746
Utah $67,313
Vermont $81,802
Virginia $83,556
Washington $91,445
West Virginia $59,162
Wisconsin $75,198
Wyoming $73,262

Source: ZipRecruiter

Recommended: Is $100,000 a Good Salary?

Nurse Job Considerations for Pay and Benefits

Whether they’re paid by the hour or per year, a nurse can make a good living. And there are ways to supplement that income or create a flexible working schedule that supports a work-life balance. For instance, nurses can choose to work part-time, as many hospitals are short-staffed and need the extra help and expertise. There’s also travel nursing, which allows these healthcare professionals to pick up short-term assignments.

But if a full-time role with benefits is what you’re after, you may have little trouble finding one that fits. The BLS projects that between now and 2032, the number of RN jobs available in the field will grow 6%. And those on-staff positions can come with benefits like health insurance, retirement contribution matches, and tuition reimbursement.

Pros and Cons of Nurse Salary

Like any career path, working as an RN comes with a unique set of pros and cons that are worth keeping top of mind:


Pros Cons

•   High demand for nurses

•   Full-time work and benefits available

•   Flexible schedule may be an option depending on your employer

•   Physically and emotionally demanding job

•   Potential exposure to illnesses

•   May work nights, weekends, or holidays

•   Limited work-from-home options (aside from telehealth roles)



💡 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

While the hours can be long and the work physically demanding, nurses have the potential to earn a lot of money. As they gain years of experience or enter more lucrative industries, these professionals can potentially earn a six-figure salary. Bottom line: If you’re passionate about health care and helping others, you may find that a career in nursing is professionally and financially rewarding.

FAQ

What is the highest-paid RN job?

The type of nursing role an RN takes can affect how much they earn. Those looking to earn high incomes may want to pursue government nursing, which earns a median salary of $92,310. This is much higher than the $81,220 median salary for all RNs.

How much money does a RN make in California?

In the state of California, an RN can expect to earn an average of $78,490 per year, or an hourly rate of $37.74, per ZipRecruiter.

What state pays nurses the lowest?

Of all the 50 states, Florida pays its nurses the least, according to ZipRecruiter. Nurses there earn an average of $56,707 a year, and their average hourly wage is $27.26.


Photo credit: iStock/FG Trade

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.

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.

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.

SORL1023026

Read more
TLS 1.2 Encrypted
Equal Housing Lender