SoFi

The IRS divides income into taxable and nontaxable categories. In general, income is taxable unless there’s a law exempting it.

As you’d expect, all taxable income must be included on your yearly income tax return. But here’s the twist: Nontaxable income may also need to be listed on your return, too.

Because anything tax-related is complicated, we’ll show you some examples of taxable and nontaxable income.

What Is Nontaxable Income?

You might think that nontaxable income is money that you can plausibly leave off your tax return. However, that’s not the case. Nontaxable income won’t be taxed even if you include it on your tax return. On the flip side, leaving income off your tax return won’t shield you from taxes. It just means you’ll be liable for those taxes, plus late fees and penalties, when the IRS figures it out — and they usually do. For questions about your specific income tax liabilities, consult an accountant or tax advisor.

Nontaxable Income Examples

The IRS provides a chart on nontaxable income limits — or how much you need to earn before you’re required to file an income tax return. For example, a single person age 65 or over can earn up to $15,700 without needing to file a federal tax return. A head of household under age 65, meanwhile, can earn up to $20,800 without needing to file.

There are many other types of income besides what appears on a W-2 or 1099. Here are examples of income that’s nontaxable, even if you might think otherwise.

•   Inheritances and bequests. Money and other assets you inherit are typically exempt from federal income tax. That’s because any taxes are levied before the estate is settled, and the threshold for estate taxes is high: $13.61 million in 2024.

•   Cash gifts. In 2024, gifts up to $18,000 are excluded from taxes. Above that, the gift giver typically pays the tax.

•   Rebates. This refers to cash you receive back from a retailer, manufacturer, or dealer.

•   Life insurance payouts. If cashed in after someone dies.

•   Scholarships. If used to pay school tuition and fees. However, when the funds are used to pay for room and board or personal expenses, they may be taxable.

•   Alimony for divorces finalized after 2018, and child support payments.

•   Welfare payments

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

How Taxable Income Works

All taxable forms of income must be listed on your IRS return and will count toward whatever tax bracket you’re in.

Taxable income can include funds that aren’t yet in your bank account, such as when a check arrives but you don’t cash it during the tax year. The IRS offers examples of this to provide clarity. For instance, if your mail carrier tries to deliver a check to you on the final day of the tax year but you “are not at home to receive it,” that counts as income for the current year. If the check was mailed but couldn’t reach you during the tax year, that money goes toward next year.

Types of Taxable Income

Taxable income comes in three forms: money, property, and services. Money includes wages, salaries, self-employment income, and commissions; royalties, strike pay; rental income; and alimony if the divorce was finalized before 2019. Stock market gains are another example of taxable income.

Fringe benefits are typically taxable. This category could include a company vehicle, holiday gifts from your employer in cash or gift certificate form, an off-site gym membership, or childcare services.

Nontaxable vs Taxable Income

Putting money away for retirement often involves depositing funds into a tax-sheltered account to benefit from the IRA or 401(k) tax deduction. With these accounts, there’s a tax impact when you make your contributions or withdraw your money but not at other times. These retirement accounts come with annual contribution limits, though, so you may decide to invest in taxable accounts when those limits are reached.

When opening a taxable brokerage account, the goal is tax-efficient investing instead of the tax-deferred investing that happens with an IRA or 401(k). This can include investing into long-term stocks or municipal and treasury bonds.

Recommended: What Is a Taxable Account?

Examples of Income That Is Both Taxable and Nontaxable

If your employer pays for your tuition, it can be nontaxable. But if it goes over a certain amount, it can become taxable. The same is true with employer-paid group life insurance. You may also want to take a close look at the category of “unearned income.”

Unearned income is passively earned income that you make without working. This can include retirement distributions, Social Security benefits, interest from bank accounts, stock dividends, and so forth. It also includes debt cancellation or forgiveness, which can be taxable or nontaxable, depending whether it was canceled or forgiven for less than the amount due.

How to Reduce Your Tax Liability

Reducing taxable income makes good sense. Some strategies to consider include:

•   Choosing the right filing status

•   Maxing out your retirement contributions

•   Deducting qualified health care expenses

•   Opening a 529 savings plan if your children may attend private school or college

Another strategy is to reduce or avoid capital gains tax. You can do that a few ways:

•   Donating appreciated shares of stock. This applies when you have held the stock for more than a year.

•   Selling stocks at a loss to offset capital gains, which can reduce your taxable income.

•   Investing in property via a Qualified Opportunity Fund. You can temporarily defer paying taxes on your gains.

Each of these strategies can be complex, and professional help is recommended.


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

The Takeaway

The IRS divides income into taxable and nontaxable categories. With the second, the income may or may not need to be listed on your federal tax return, even though taxes aren’t owed. Some common forms of nontaxable income include inheritances, cash gifts of $18,000 or less, scholarships that cover school tuition and fees, alimony, child support, and welfare payments.

Taxable income can be “earned” on the job, as with wages, salaries, and commissions. Unearned income is the term for passive revenue, such as stock gains in taxable accounts, interest on savings, and benefits you receive from your employer. To prepare for tax time, it can help to have a quality money tracker app that gives you high visibility into what you’ve spent.

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

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

FAQ

What is an example of nontaxable income?

Nontaxable income examples include child support payments and, as of 2019, alimony. Other examples include inheritances (which may be taxed in other ways) and cash gifts from friends or family. Contributions to an IRA may be partially or fully tax deductible, depending on your income and filing status. The funds would be taxed only when you make a withdrawal.

What are some examples of income that is taxable?

Money earned through a salary, wages, and self-employment income are some of the most common types of taxable income. Other types include royalties, commissions, rental income, and strike pay.

What are four items that are taxable income?

Wages, salaries, self-employment income, and commissions are four commonly applicable forms of taxable income.

---

Photo credit: iStock/andresr

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.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

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

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

SORL0124018

Read more

If you’re exploring career options, and the idea of seeing the world and meeting interesting people appeals to you, you may want to consider a career as a flight attendant.

One of your first questions may be, how much does a flight attendant make a year? According to the U.S. Bureau of Labor Statistics, the median annual salary is $63,760. However, that figure can change based on a number of factors, including your experience, skills, and education.

Let’s take a closer look.

What Are Flight Attendants?

If you’ve ever flown, you already have met flight attendants. They’re the people who greet you when you step on the plane, serve you food, and ensure your safety when you fly.

But flight attendants have many responsibilities you don’t see. They have to be well-versed in emergency procedures, should there be an issue on board. They interact with the pilots and create reports for each flight.

Being a flight attendant requires an outgoing personality. If that doesn’t describe you, you may want to explore jobs 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 Flight Attendants Make?

Compared to other jobs, flight attendants can make a good entry-level salary. For a flight attendant with less than one year of experience, the starting salary is about $60,487. This will, of course, depend on the airline that hires you and where you live.

Something else to consider: Compared to other jobs, training to become a flight attendant is relatively quick. Some programs are about six weeks long; after that, you’re ready to take to the skies.

Recommended: What Is Competitive Pay?

What is the Average Salary for a Flight Attendant?

The salary for a flight attendant just starting out is fairly high compared to some other jobs. But how much does a flight attendant make an hour? And just how much more could they earn with more experience under their belt?

It first helps to understand the difference between salary vs. hourly pay. Many flight attendants are paid by the hour, and the clock typically starts when the aircraft door is closed. That means that the period they spend greeting travelers and getting them settled is unpaid work.

While flight attendants don’t generally get overtime pay, they can earn extra money by working more hours or during holidays. Experience can play a role as well. The average hourly salary for a senior flight attendant is around $41 (or $84,637 per year), though some can earn as much as $55 or more per hour (or $115,126 per year).

No matter what your take-home pay is, online tools like a money tracker app can help you create budgets and keep tabs on your finances.

Recommended: Is $100,000 a Good Salary?

TABLE: What Is the Average Flight Attendant Salary by City for 2023
Curious about how much a flight attendant makes per year where you live? Here are average annual salaries in cities around the U.S.

And if you’re interested in exploring other jobs, check out the highest-paying jobs by state.

City	Average Salary
Anchorage, AK	$94,651
Mobile, AL	$78,703
Little Rock, AR	$78,585
Phoenix, AZ	$84,068
San Diego, CA	$91,839
Denver, CO	$86,489
New Haven, CT	$92,225
Delaware City, DE	$89,289
Orlando, FL	$80,839
Atlanta, GA	$83,537
Honolulu, HI	$88,268
Des Moines, IA	$82,185
Boise, ID	$79,253
Chicago, IL	$89,774
Bloomington, IN	$78,391
Kansas City, KS	$83,443
Lexington, KY	$79,800
New Orleans, LA	$83,318
Cambridge, MA	$95,885
Baltimore, MD	$87,485
Bangor, ME	$77,773
Ann Arbor, MI	$87,817
Minneapolis, MN	$90,668
Joplin, MO	$78,873
Jackson, MS	$76,172
Billings, MT	$81,868
Asheville, NC	$78,228
West Fargo, ND	$79,843
Lincoln, NE	$79,748
Concord, NH	$87,332
Atlantic City, NJ	$91,158
Albuquerque, NM	$80,016
Reno, NV	$85,902
New York City, NY	$99,995
Cincinnati, OH	$83,221
Oklahoma City, OK	$77,741
Eugene, OR	$83,758
Pittsburg, PA	$83,826
Providence, RI	$89,612
Charleston, SC	$80,816
Pierre, SD	$71,699
Chattanooga, TN	$76,727
Houston, TX	$86,591
Salt Lake City, UT	$81,639
Alexandria, VA	$94,736
South Burlington, VT	$83,969
Bellevue, WA	$93,902
Madison, WI	$83,387
Charleston, WV	$77,520
Cheyenne, WY	$78,246

Source: Salary.com

Flight Attendant Job Considerations for Pay and Benefits

Before you see these figures and get excited about making lots of money as a flight attendant, understand that these are average salaries. When you’re just starting out, you’ll likely make much less. And depending on where you live and the duties and responsibilities you have as a flight attendant, your salary will vary.

Other factors that will impact how much you make include whether or not you have people who report to you, how long you’ve been working, and where you fly. Working international flights might also pay more than domestic flights.


💡 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 Flight Attendant Salary

Now that you know how much flight attendants make, let’s weigh the potential benefits and drawbacks of the job.

Pros

For many people, the salary a flight attendant can make is impressive. And given that it doesn’t take years of study and hundreds of thousands of dollars of student loans to become a flight attendant, the barrier to entry is lower.

Unless you’re looking for a work-at-home job for retirees, another perk of being a flight attendant is that you’ll get the opportunity to travel around the country or even the world.

Cons

Like any job, there are drawbacks to working as a flight attendant. For starters, you are likely to be paid hourly, and you might not get compensated for any work you do before the doors of the plane close.

While flying around the world sounds glamorous, many flight attendants tire of the long hours in the skies. There are potential health risks of frequent air travel to consider as well. According to the Centers for Disease Control and Prevention (CDC), air travel exposes you to cosmic ionizing radiation, which could impact your reproductive health. Plus, jet lag can make it difficult to keep a regular sleeping schedule.

Recommended: What Trade Makes the Most Money?

The Takeaway

Flight attendants have the opportunity to make good money, see other parts of the country or world, and typically only need a few weeks of training to start working. If you’re outgoing, enjoy working with people, and love to travel, becoming a flight attendant could be a good fit.

FAQ

What is the highest-paying flight attendant job?

How much does a flight attendant make per hour? While salaries vary depending on experience and location, on the high end, flight attendants can earn around $115,126 per year.

Is flight attendant a healthy job?

Constantly being on their feet and being quick to respond to travelers’ requests keeps many flight attendants in good shape. However, there are potential health risks to consider. Jet lag could disrupt your circadian rhythms, and being in the air exposes you to cosmic ionizing radiation, which could impact your reproductive health, according to the CDC.

How much do flight attendants make starting out?

While starting salaries can vary depending on location, airline, and responsibilities, many flight attendants starting out make around $60,487.

---

Photo credit: iStock/Adene Sanchez

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.

SORL1023006

Read more

Commercial airline pilots can expect to earn about $123,250 a year once their career is established or potentially considerably more. This pay reflects their high level of skills and training. It also compensates them for the stressful job of ensuring that their passengers arrive safely at their destination. While a pilot just starting out might earn a salary of around $50,000, with experience and first officer credentials with a large airline, it’s possible to make upwards of $700,000 in some cases.

Here’s a closer look at what pilots earn. Read on for average salaries for commercial airline pilots, the necessary training, whom they can work for, and their typical career progression.

What Is the Job of a Commercial Airline Pilot?

Airline and commercial pilots fly and navigate airplanes, but some also fly helicopters and other aircraft. They work variable schedules with overnight layovers. This is particularly the case for long-haul commercial airline pilots, many of whom fly worldwide and through different time zones. Airline pilots require a bachelor’s degree and experience as a commercial or military pilot. Commercial pilots must adhere to Federal Aviation Administration (FAA) requirements, which include flight training.

According to Inflight Pilot Training, most commercial pilots fly approximately 75 hours a month. They also spend around 150 hours completing flight plans, checking weather conditions, and preparing flight crews. Pilots also sleep overnight at destinations and may take several days off for rest. (After all, they are not immune to that jetlag you get when traveling far afield.)


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

How Much Do Starting Airline Pilots Make?

Airline pilots start as first officers, and how much they make in their early years depends on the airline they fly for. Starting airline pilot pay can range from $56,000 to around a $100,000 a year salary. According to Epic Flight Academy, in year 1, a first officer could earn $56,000 with Air Canada and up to $100,000 with Alaska Airlines.

Wondering “How much does a pilot make an hour?” At $56,000, the per-hour pay would be $26.92 for a typical job. However, it’s worth noting that while pilots may work 50 or more hours per work, they on average only actually fly for 22 or so hours per week. Even the lowest salary mentioned here can be well above the minimum wage in many states, reflecting the level of training and skill pilots must have.

How Much Does a Pilot Make?

How much does a pilot make a year on average? According to the Bureau of Labor Statistics, the median annual wage for commercial pilots was $123,250 in May 2022, which is the most recent data available.

However, according to Epic Flight Academy, pilots’ competitive pay varies widely depending on their years of service, the airline they work for, the routes they fly, and the type of airplane they fly. Epic Flight Academy reports an average pilot salary of over $200,000, with a range from $56,000 all the way to $700,000.


💡 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 Mean Annual Salary by State for Commercial Pilots for 2022

Here’s a list of the mean annual salaries by state for commercial airline pilots in 2022 based on data from the Bureau of Labor Statistics. (This is the most recent year studied, but there is a good chance that salary inflation will increase these figures as time passes.)

State	Annual Mean Wage (US$)
Alabama	103,790
Alaska	133,520
Arizona	96,160
Arkansas	87,430
California	142,350
Colorado	107,640
Connecticut	198,120
Delaware	122,330
Florida	131,610
Georgia	148,280
Hawaii	114,530
Idaho	86,210
Illinois	90,910
Indiana	107,660
Iowa	97,390
Kansas	93,010
Kentucky	131,810
Louisiana	126,890
Maine	98,420
Maryland	131,090
Massachusetts	177,650
Michigan	115,860
Minnesota	131,800
Mississippi	120,870
Missouri	115,920
Montana	100,420
Nebraska	91,830
Nevada	143,520
New Hampshire	94,360
New Jersey	136,120
New Mexico	96,380
New York	195,380
North Carolina	112,900
North Dakota	112,760
Ohio	107,300
Oklahoma	113,170
Oregon	107,230
Pennsylvania	112,000
Puerto Rico	68,960
South Carolina	95,040
South Dakota	70,910
Tennessee	124,960
Texas	124,880
Utah	142,420
Virginia	$52,129
Washington	105,230
West Virginia	95,910
Wisconsin	113,460
Wyoming	99,400*

* Data from Career Explorer

Recommended: Highest Paying Jobs by State

Pilot Job Considerations for Pay and Benefits

Most commercial pilots in the United States and Canada are members of the Airline Pilots Association (ALPA), which means they are unionized. Belonging to a union means pilot groups can negotiate their pay, benefits, work rules, and work conditions. For example, the work of a cargo pilot is different from a commercial pilot, and the pay is negotiated considering the pilot’s working environment.

Some regional carriers offer first officers sign-on first-year bonuses as well as retention bonuses. According to CleartoDream, for example, Air Wisconsin provides a $5,000 sign-on bonus, an $18,0000 retention bonus, and various other bonuses up to $30,000 for pilots that reach certain milestones and qualifications. Many airlines also offer career-progression opportunities.

Using intel from The Pilot Guys and other sources, here is a typical career path for a commercial pilot.

1. Getting a Commercial Pilot’s Certificate

It’s likely to take one to two years to complete the training to become a commercial airline pilot. According to the Pilot Guys website, this can cost around $100,000. Once a pilot has their commercial pilot’s certificate, they complete instructor training and the 1,500 hours of flight time required by the FAA to become an airline pilot.

2. Instructing and Accumulating Flight Hours

Pilots can earn an entry-level salary of around $30 an hour teaching other trainee pilots as part of their instructor training. These hours go towards completing the 1,500 hours of flight time.

3. Flying for a Regional Airline

Newbie pilots typically start flying for a small, regional airline, such as Air Wisconsin or Endeavor. These airlines pay less than the bigger airlines like Delta or American Airlines, probably in the region of $50,000 to $100,000 a year.

4. Flying as a Captain for a Regional Airline

After two or three years and around 1,000 hours of flying, a pilot can work for a regional airline and become a captain. This is a good stepping stone to working for a larger airline, and salaries may reach $200,000. Pilot’s need experience flying larger and more complex aircraft to fly for a large airline.

5. Flying for a Major Airline

After two or three years as a captain for a regional airline, a pilot could join a major airline as a first officer. First officers for large airlines can sometimes earn up to and over $600,000 depending on their experience (sometimes five years or more) and whether they are flying long-haul routes.

Pilots can also fly overtime and earn thousands more. They are limited to 100 hours in a 28-day period and 1,000 hours of overtime a year. However, most pilots fly at least 70 hours a month. The combination of a high salary and overtime pay as well can be a path to building one’s net worth.

Other perks associated with being an airline pilot if you work for a large airline are visiting different parts of the world where hotels and meals are paid for. As a representative of a major airline, pilots receive a per-diem expense allowance when they are working.

Pilots also receive generous benefits. For example, those can include paid time off, health and dental insurance, and a retirement package. Pilots also receive free and discounted air tickets for family and friends.

Recommended: Best Jobs for Antisocial People

Pros and Cons of a Pilot Salary

There are plenty of advantages to earning a living as a pilot. Notably, pilots receive good benefits and discounted flights for friends and family. That said, there is a downside to a career as a pilot. These include long hours away from home and a significant amount of stress. Plus, the FAA mandates that pilots retire at age 65. For some, that’s a benefit, but others might want to find a job as a retiree after their career in the skies.

While you can earn a high hourly rate as a pilot, it’s wise to take a look at the upsides and downsides of this career to get the bird’s-eye view of what it’s like.

Pros of a Career as a Commercial Airline Pilot	Cons of a Career as a Commercial Airline Pilot
Pilots are in demand, so salaries are increasing, and signing bonuses and benefit packages are common.	Long hours; many long-haul flights are over 10 hours.
Generous per-diem allowance when working and free and discounted tickets for family.	For pilots who fly domestically or regionally, multiple short routes in a day can be stressful.
Experience as a pilot opens doors. Pilots are often board members, flight school operators, and airplane brokers.	An erratic schedule that makes life hard to plan.
Retirement is required at age 65 for airline pilots, per the FAA. Some pilots appreciate this clear finish line for their career.	Stress: Pilots are responsible for the lives of their passengers.

Recommended: What Trade Job Makes the Most Money?

The Takeaway

Pilots will be in demand for the foreseeable future, and this profession can be an exciting one, involving the thrill of flying, the opportunity to travel, and the ability to earn a high salary, often in the six figures. The downside to a pilot’s life is a busy and unpredictable schedule, time away from home, and the stress of being responsible for their passengers’ lives.

If you have a passion for flying, this could be your vocation.

FAQ

What is the highest paying pilot job?

The highest paying commercial pilots work for large airlines, such as Southwest Airlines, United Airlines, and Delta. Their salaries average around $200,000, but according to ThePilotGuys.com, some salaries can exceed $700,000 for pilots who fly long-haul flights and have lots of experience flying complex airplanes.

Do pilots make 300k a year?

Most pilots earn around $123,250 on average per year, with some making up to or around $200,000 a year. Some pilots do make $300,000 or more depending on whom they fly for and what experience they have.

How much money does a pilot make starting out?

Most pilots starting out make between $50,000 and $100,000 a year, including benefits. They may also receive signing bonuses if there is high demand for commercial airline pilots.

---

Photo credit: iStock/Portra

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.

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.

SORL1023024

Read more

A chiropractor is a licensed healthcare professional who supports spine and nervous system health, providing care and rehabilitation to patients. Those who work in this role are typically experts on causes and treatments of back, neck, and shoulder pain.

To become a chiropractor, you need to get a Doctor of Chiropractic degree, which is usually a four-year program (on top of three years of undergraduate study). However, the investment of time and money in your education can pay off in a job that offers high satisfaction and a good salary. The average annual salary for a chiropractor in the U.S. as of January 5, 2024 is $85,646, according to ZipRecruter.

If you’re interested in working in the healthcare field and enjoy working with people, a job as a chiropractor may be ideal for you. Read on to learn more about how much money a chiropractor makes, as well as other factors to consider before you decide to jump on this career path.

What Are Chiropractors

A chiropractor is a type of medical professional who specializes in evaluating and treating a patient’s neuromusculoskeletal system. Their primary duty is to help patients reduce pain and gain greater levels of mobility. They may perform treatments like massage therapy, physical rehabilitation strategies, or spinal adjustments and procedures.

Tasks involved in being a chiropractor typically include:

•   Reviewing a patient’s medical history and listening to their concerns

•   Performing physical examinations to analyze posture, spine, and reflexes

•   Advising patients on health and lifestyle issues, such as exercise and nutrition

•   Providing neuromusculoskeletal therapy, which involves adjusting a patient’s spinal column and other joints

•   Giving additional treatments, such as applying heat or cold to a patient’s injured areas

•   Referring patients to other healthcare professionals if necessary

Chiropractors often work in healthcare clinics, physical therapy centers, yoga studios, massage centers, or gyms. Some open their own private practices. Because the majority of a chiropractor’s day is devoted to patient care, this job is always in-person and is not a good fit for anyone looking for a work-from-home job.

If a chiropractor runs their own practice, they may also have to take on additional responsibilities related to accounting, record keeping, hiring, and managing employees.

How Much Do Chiropractors Make When They Are Starting Out?

Starting salaries for chiropractors can range anywhere from $41,000 to $76,500. However, those in this role can generally expect their income to rise significantly over time. The highest-earning chiropractors in the U.S. make $93,500 to $101,000-plus a year, per ZipRecruiter.


💡 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.

What is the Average Salary for a Chiropractor?

How much you can earn as a chiropractor will vary based on your geographical location, company, years of experience, certifications, and other factors. On average, however, a chiropractor earns an hourly rate of $41. This is the equivalent of $1,647 per week or $7,137 per month. The average amount a chiropractor earns per year in the U.S. is $85,646.

The Average Chiropractor Salary by State for 2024

How much money a chiropractor makes can vary by location. What follows is a breakdown of how much a chiropractor makes per year, on average, by state (highest to lowest) based on ZipRecruiter’s data.

State	Annual Salary
Oregon	$98,843
Alaska	$98,357
North Dakota	$98,341
Massachusetts	$97,167
Hawaii	$96,265
Washington	$94,053
Nevada	$92,997
South Dakota	$92,943
Colorado	$91,777
Rhode Island	$91,552
New York	$87,237
Delaware	$86,275
Vermont	$85,187
Virginia	$85,026
Illinois	$85,001
Maryland	$83,554
Nebraska	$81,770
Missouri	$81,264
South Carolina	$80,563
Pennsylvania	$79,915
New Jersey	$79,751
Oklahoma	$79,189
Maine	$79,147
Wisconsin	$78,981
North Carolina	$78,900
New Hampshire	$77,715
Idaho	$77,523
Texas	$77,002
Kentucky	$76,752
Wyoming	$76,482
Minnesota	$76,285
Michigan	$75,978
New Mexico	$75,855
Indiana	$75,472
Ohio	$74,150
Arizona	$73,911
Connecticut	$73,535
Mississippi	$73,019
Iowa	$72,927
Montana	$72,797
Arkansas	$72,531
Alabama	$71,889
Utah	$70,844
Tennessee	$70,793
Kansas	$68,753
Georgia	$66,970
Louisiana	$66,604
West Virginia	$61,719
Florida	$59,269

Chiropractor Job Considerations for Pay & Benefits

On top of their average salary of $85,646, chiropractors earn more once you take their employee benefits into account. Chiropractors who work full-time for an employer can expect to gain access to standard employee benefits like healthcare and paid vacation. However, many chiropractors choose to work part-time or are self-employed. Those who are self-employed and run their own practice will need to provide themselves and their employees with benefits.

Pros and Cons of Chiropractor Salary

Becoming a chiropractor requires pursuing years of higher education. Before making that time and financial commitment, it’s a good idea to carefully evaluate both the pros and cons of working as a chiropractor.

Pros of Being a Chiropractor

Here’s a look at some reasons why you might consider becoming a chiropractor:

•   A positive job outlook According to the U.S. Bureau of Labor Statistics, employment of chiropractors is projected to grow 9% from 2022 to 2032, much faster than the average for all occupations. The government predicts about 2,600 chiropractor job openings a year, on average, over the decade.

•   Ability to help people Chiropractors help people function better, have less pain, and reach their health goals. This type of work generally comes with high job satisfaction because chiropractors know that what they are doing is meaningful.

•   Job flexibility and autonomy Compared to other types of healthcare jobs, chiropractors enjoy a high level of autonomy and independence. Many choose to own and operate their own private practices after they graduate. Becoming an entrepreneur gives you the freedom to make your own schedule and work for yourself.

•   Earn a good salary The national average salary of chiropractors is $85,646 per year, but chiropractors who complete more education and earn special credentials can negotiate for a higher salary, and may earn as much as $100,000 per year. In addition, those in this role may pursue supervisory positions or create their own practice, which can come with higher pay.

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

Cons of Being a Chiropractor

Being a chiropractor also comes with some downsides. Here are some to keep in mind:

•   A long time in school Becoming a chiropractor requires completing extensive schooling. Indeed, it can take up to eight years of school and training to become a chiropractor. However, many chiropractic students find the time and effort worth the reward.

•   Working overtime While some chiropractor positions allow you to work regular, 40-hour weeks, many chiropractors work 50-plus hours per week to see patients, conduct research, and complete paperwork.

•   Risk involved Some chiropractic procedures involve a patient’s spinal cord and nervous system, such as spinal manipulation and decompression, which can cause pain and involve some risk to the patient. That’s why it’s important that chiropractors have extensive training in conducting these procedures.

•   Salary is lower than other types of doctors While chiropractors do practice health care, they typically don’t earn as much money as other kinds of doctors. For example, the average national salary for a general physician is $208,152 per year. Keep in mind, though, that it takes more schooling and training to become a general physician.

Recommended: Best Low-Stress Jobs for Introverts

The Takeaway

Chiropractors specialize in the anatomy and physiology of people’s nervous systems and spine, and their primary duty is to help patients reduce pain and gain greater levels of mobility.

Choosing to pursue a career path as a chiropractor can be stable and lucrative, with annual salaries as high as $110,000.

Before you can make that much money, however, you’ll need to invest in going to chiropractic school. This may require saving money up over time and/or taking out student loans.

Whatever path you choose, learning how to budget and manage your monthly income and expenses can help you reach both your career and your financial goals.

FAQ

What is the highest paying Chiropractor job?

Traveling chiropractors and sports team chiropractors tend to earn higher salaries than other chiropractic roles. You can also earn a higher-than-average income as a chiropractor by owning your own practice and employing professionals from other medical disciplines, such as physical therapy, massage therapy, and acupuncture.

Where you work can also have an impact on how much you earn as a chiropractor. The states with the highest average salaries for chiropractors are Oregon, Alaska, North Dakota, Massachusetts, and Hawaii.

Do chiropractors make 100k a year?

It’s possible for chiropractors to make 100k a year. In fact, annual salaries for chiropractors can be as high as $110,000.

How much do chiropractors make starting out?

Starting salaries for chiropractors can range anywhere from $41,000 to $76,500. However, a chiropractor’s income typically increases over time. The highest-earning chiropractors in the U.S. make $93,500 to $101,000-plus a year.

---

Photo credit: iStock/ljubaphoto

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.

SORL1023017

Read more

Becoming a surgeon requires committing to many years of school and putting in countless clinical hours. The good news is that all the time and hard work can lead to a fulfilling career that pays well. The average annual pay for a general surgeon in the U.S. as of January 2024 is $285,176, according to ZipRecruiter.

It’s important to remember that this is just the average salary. Where a surgeon lives, the type of surgery specialty they take on, and a host of other factors can influence how much they can earn. Keep reading for more insight into how much surgeons make.

What Are Surgeons?

A surgeon is a medical professional who operates on patients to treat injuries (such as broken bones), diseases (like cancerous tumors), and deformities (such as cleft palates). A surgeon can have an M.D. (Medical Doctor) and D.O. (Doctor of Osteopathic Medicine) degree.

A surgeon doesn’t only perform operations, however. These specialists are also responsible for the preoperative diagnosis of the patient and for providing the patient with postoperative surgical care and treatment. The surgeon is also looked upon as the leader of the surgical team.

Surgeons can typically expect to work long days, primarily in person, so this type of job is probably not a good fit for anyone looking for a work-from-home job. However, surgeons can work in a variety of different settings. These include:

•   Private practice

•   Academic medicine

•   Institutional practice

•   Hospitals

•   Ambulatory surgery settings

•   Government service programs

How Much Does a Surgeon Make Starting Out?

General surgeons can earn an impressive entry-level salary, often as much as $250,000. With experience, a surgeon can make upwards of $399,000 a year, per ZipRecruiter.

💡 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.

What is the Average Salary for a Surgeon?

You can measure how much a surgeon makes by looking at both their average hourly rate and annual salary. The national average hourly salary for a surgeon is $137, while the average annual pay for a surgeon in the U.S. is $285,176.

The type of specialty a surgeon chooses to practice can impact how much they earn. What surgical specialty makes the most? Let’s take a quick glance at the average annual wages for surgeons with varying specialties:

•   Orthopedic surgeon: $375,000

•   Oral and maxillofacial surgeon: $368,879

•   International cardiothoracic surgeon:$367,474

•   Plastic surgeon: $356,489

•   Mohs surgeon: $345,926

What Is the Average Surgeon Salary by State for 2024?

How much money a surgeon makes can vary by location. What follows is a breakdown of how much general surgeons make a year, on average, by state (highest to lowest).

State	Annual Salary
Alaska	$307,539
Oregon	$306,905
Massachusetts	$306,253
North Dakota	$305,878
Minnesota	$303,104
Washington	$302,948
Hawaii	$299,696
Ohio	$296,452
Colorado	$290,989
Nevada	$290,784
South Dakota	$289,088
Iowa	$285,657
New York	$284,746
Rhode Island	$284,266
Tennessee	$283,057
Connecticut	$282,197
Utah	$280,344
Vermont	$277,620
Mississippi	$276,794
Delaware	$274,611
Virginia	$271,072
Illinois	$269,084
Maryland	$266,057
Louisiana	$264,627
California	$261,981
New Jersey	$261,615
Pennsylvania	$260,865
Nebraska	$260,692
Kansas	$260,477
Wisconsin	$259,426
Missouri	$258,253
Maine	$256,239
South Carolina	$255,857
New Hampshire	$253,485
Oklahoma	$252,459
North Carolina	$250,576
Idaho	$250,340
Wyoming	$249,821
New Mexico	$249,131
Texas	$248,404
Indiana	$246,782
Kentucky	$242,414
Arizona	$241,680
Michigan	$240,989
Montana	$238,038
Alabama	$235,066
Arkansas	$229,613
Georgia	$218,984
West Virginia	$201,470
Florida	$193,803

Surgeon Job Considerations for Pay & Benefits

Surgeons typically work in clinical settings, such as physicians’ offices and hospitals, including academic hospitals associated with residency programs and medical schools.

The average annual salary for a surgeon is $285,176 but surgeons can actually earn a lot more when you look at their total compensation package including benefits.

Because surgeons often work full-time for a specific hospital, company, or organization, prospective surgeons can expect to find a job that offers them the standard suite of employee benefits, including healthcare, paid vacation, vision and dental insurance, and a retirement plan.

In addition to these benefits, some surgeons also receive life insurance policies, continuing medical education (CME), flexible scheduling, research and academic support, and development programs.

Pros and Cons of a Surgeon’s Salary

Becoming a surgeon takes a lot of hard work and discipline, but surgeons can also change the lives of their patients every single day and earn a substantial income at the same time. Here’s a closer look at the pros and cons of choosing a career as a surgeon.

Pros of Being a Surgeon

Being a surgeon offers potential benefits like:

•   Ability to help people A surgeon can help people experience less discomfort, pain, and stress, and even save their lives. Surgeons also train and mentor junior colleagues.

•   Opportunity to work as part of a team Surgeons typically collaborate with doctors, nurses, and other medical specialists to provide comprehensive care to patients. (Consequently, it may not be the ideal medical specialty for someone who is naturally more of an introvert.)

•   High compensation The national average salary of surgeons is $285,176 per year but can go as high as 375.000-plus, depending on location, years of experience, certifications, and other factors. Surgeons also typically get benefits like health insurance and 401(k) plans.

•   Consistent schedule Depending on their specialty and seniority, some surgeons are able to have a regular work schedule and perform surgeries during certain hours. This can help promote a healthy work-life balance.

•   Chance to work in different environments Surgeons can work in a variety of places, including hospitals, private practices, and other medical centers. Many surgeons also have offices where they consult with patients in addition to the centers where they do surgery.

Recommended: 27 Fulfilling Jobs for Extroverts That Pay Well

Cons of Being a Surgeon

However, surgeons also face the following challenges:

•   Long and rigorous educational requirements To become a surgeon, you typically need to complete a four-year bachelor’s degree program, a four-year degree program from medical school, and a three to seven-year internship or residency program. All told, it can take 11 to 15 years of studying in school to enter the field of surgery.

•   Long hours Depending on your specialty and where you work, you may need to work long hours. Indeed, general surgeons may work 50 to 60 hours per week. In addition, some surgeons need to be on call on evenings and weekends.

•   High-pressure job Surgery generally involves a certain level of risk and surgeons are under pressure to perform procedures with no errors in order to ensure a positive outcome for their patients. Surgeons need to be able to stay calm and focused under pressure.

•   Burnout potential Depending on their specialty, some surgeons may be required to perform the same procedures each day, sometimes more than once per day. This could potentially lead to job burnout over time.

•   High education costs Going to school for all the years required to become a surgeon can be expensive. As a result, surgeons may take on a lot of student loan debt, which they’ll need to repay once they enter the field. This can lessen the average surgeon’s salary.


💡 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

Becoming a surgeon requires years of study and practice, including medical school and residencies. Those who are up for the challenge can earn a high salary, especially if they go into one of the more lucrative specialties. Since surgeons earn such a high income, they need to find a way to manage their money and use it to reach their goals.

FAQ

What is the highest paying surgeon job?

Neurosurgeons, also called neurological surgeons, are the highest-paid surgeons. These doctors specialize in the diagnosis and treatment of conditions of the brain, spine, and nervous system, and can make upwards of $780,000.

Do surgeons make 300k a year?

Many surgeons make $300,000 or more per year. The following specialties all earn an average salary well over $300,000: orthopedic surgery, oral and maxillofacial surgery, plastic surgery, and Mohs surgery.

How much do surgeons make starting out?

General surgeons can earn as much as $250,000 as a starting salary. With experience, a surgeon can make upwards of $399,000 a year.

---

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.

SORL1023018

Read more