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A four-year college degree is a minimum requirement for many jobs, and more education can translate to higher earnings. It’s possible, however, to find jobs that make good money without college.

When comparing good jobs you can get without college experience, it’s helpful to consider earning potential and the skills you might need.

•  Many high-paying jobs don’t require a college degree, offering opportunities in fields like healthcare, transportation, and law enforcement.

•  Technical education, military training, or on-the-job experience can substitute for a degree in some industries.

•  Jobs such as air traffic controller, dental hygienist, and radiation therapist offer solid earning potential without a four-year degree.

•  Some roles, like commercial diver and court reporter, provide flexibility and freelance opportunities.

•  Consider industry demands, skills, and potential trade-offs when seeking good-paying jobs without a college degree.

Definition of a Good-Paying Job

There is no standard benchmark for what constitutes a good-paying job. According to the Bureau of Labor Statistics (BLS), the average annual wage in October 2024 was $60,580. That’s across all occupations, regardless of education level.

Whether that’s a good-paying job for you depends partly on your lifestyle. Some people can live comfortably on $60,000 or less, while others might struggle. A single person living in an area with a low cost of living may feel rich. But someone supporting a spouse and children in a high-rent area could easily disagree.

Jobs that don’t require college can pay more or less than $100,000, depending on the industry. (A spending app can help you stay on top of your financial situation once you the paychecks start rolling in.) But perhaps a better question is what kind of trade-offs are involved in working a good-paying job, in terms of time commitment and flexibility.

Good-Paying Jobs vs Highest-Paying Jobs

The highest-paying jobs have a median pay of around $200,000 a year, according to the BLS. People who work in the highest-paying jobs may require advanced education, certifications, or specific job skills.

Does that mean good-paying jobs aren’t worth considering? Not at all. The highest-paying jobs can also be some of the most stressful jobs. Many of the highest-paying jobs are in the healthcare field, which can require long hours, dealing with emotional or mental stress, and working in potentially hazardous surroundings.

Good-paying jobs can still pay the bills, even if you don’t make a $100,000 salary. And the job itself may be less stressful and allow for more work-life balance, which some people prefer over a bigger paycheck.

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Pros and Cons of Jobs That Don’t Require a College Degree

As with all jobs, better paying ones have advantages and disadvantages. Whether it makes sense for you to consider jobs that make good money without college can depend on your financial and career goals.

Here are some of the main pros and cons to weigh when deciding whether to pursue a good-paying job and forgo college.

 

Pros	Cons
Avoid the potentially high costs associated with a four-year degree	Some employers are reluctant to hire candidates who don’t have a degree
Start off your career without student loan debt	Certain career fields require a college degree for entry
Earn a steady income right out of high school	Good-paying jobs that don’t require college can be hard to find, and hiring may be competitive

 

Why It’s Hard To Find Jobs Without a Degree

Finding good jobs without a college degree is often difficult because many employers have come to expect that job candidates will have a bachelor’s degree at a minimum. Additionally, many professions require four-year college degrees to be considered for entry-level positions.

There are lots of jobs you can get without a degree, or with an associate degree, but they may not pay as well as jobs that do require higher education. A college degree can make you a more attractive candidate for a position because it demonstrates to employers that you’ve taken steps to prepare for a successful career.

Does a four-year college degree or higher guarantee that you’ll be successful or make a lot of money? No, and some industries that require a degree pay very little. That’s another reason to consider good jobs that pay well without college being a requirement.

Tips for Finding Jobs Without a College Degree

If you’re interested in getting good-paying jobs without college, it’s important to do your homework. Specifically, it’s helpful to understand:

•   Which industries or career fields generally require a degree and which ones don’t

•   What skills, experience, or expertise may be substituted for a college degree when searching for good-paying jobs in specific industries

•   Whether it may be to your advantage to get an associate degree or a postsecondary non-degree certification

•   What is competitive pay for any good-paying jobs you’re interested in, based on industry standards and trends

•   The difference between salary vs. hourly pay and why it matters

You should also consider the types of jobs you’re interested in. If you’d like to do something hands-on, for instance, then you may be curious about what trade makes the most money and whether you’ll need an associate degree to enter that field.

Or if you’re the introverted type, you might be focused on finding the best paying jobs for antisocial people that don’t require a degree.

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25 Good-Paying Jobs Without a College Degree

Wondering which jobs pay the most without a college degree? We analyzed BLS data to find good-paying jobs that don’t need a four-year degree and compiled the following list based on:

•   Median annual pay

•   Minimum education level required (high school diploma or equivalent, postsecondary non-degree award, or associate degree)

•   Expected job growth through 2033

Read on for 25 good-paying jobs you can get without college.

1. Makeup Artist, Theatrical and Performance

Median pay: $68,590/year

Job growth outlook: 9%

Job description: Makeup artists apply cosmetic and special-effects makeup to performers in theatrical and other entertainment settings.

Job duties and requirements:

•   Create and apply makeup looks to performers

•   Complete touch-ups as needed to keep makeup looking fresh throughout the performance

•   Postsecondary non-degree award is usually required

How to get started: Makeup artists may attend cosmetology school or earn professional certifications in makeup artistry before applying for jobs. Some artists, however, are self-taught and start their careers by showcasing their makeup skills on TikTok or other social media.

Pros:

•   Makeup artists can make excellent money without a college degree

•   This is a highly creative job that often involves meeting new people

•   Makeup artistry can offer flexible hours and opportunities to travel

Cons:

•   Higher pay isn’t guaranteed

•   Work environments can sometimes be harsh, and artists may be subject to criticism

•   Not ideal for people who aren’t comfortable in a fast-paced work environment

2. Commercial Pilot

Median pay: $171,210/year

Job growth outlook: 5%

Job description: Commercial pilots fly planes and other aircraft, and can work for major airlines, charter companies, or private individuals.

Job duties and requirements:

•   Operate flight equipment to safely transport cargo or passengers

•   Check the condition of the aircraft prior to takeoff

•   Associate degree and on-the-job training may suffice for pilots who don’t plan to fly for major airlines

How to get started: Flight training and FAA certification are essential for commercial pilots. On-the-job training may be substituted for an associate or a bachelor’s degree.

Pros:

•   Commercial pilots can make a lot of money, even without a degree

•   Pilot jobs offer opportunities to travel to new places

•   Work can be flexible

Cons:

•   Requires extensive flight and on-the-job training

•   Flying for a living is generally a higher-risk occupation

•   Private pilots may have to contend with demanding clients

3. Air Traffic Controller

Median pay: $137,380/year

Job growth outlook: 3%

Job description: Air traffic controllers help to guide aircraft from one destination to another. They can work at major airports or smaller airfields.

Job duties and requirements:

•   Monitor the movement of aircraft in the air and on the ground

•   Communicate with pilots during takeoff, while in-flight, and during the landing

•   Sufficient work experience and on-the-job training

How to get started: If you’re interested in becoming an air traffic controller, you’ll need to first meet the minimum requirements. Typically, that means at least three years of work experience, a mix of work experience and education, or training through an FAA-approved program.

Pros:

•   Air traffic control jobs can pay exceptionally well

•   A college degree isn’t always required if you have appropriate work experience or training

•   Job growth is not spectacular but demand is expected to hold steady

Cons:

•   High-pressure job

•   May require working long hours, including weekends and holidays

•   Room for advancement may be limited

4. Nuclear Technician

Median pay: $101,740/year

Job growth outlook: -6%

Job description: Nuclear technicians work in nuclear facilities to assist physicists, engineers, and professionals in maintaining those facilities and conducting nuclear research.

Job duties and requirements:

•   Monitor nuclear facility equipment

•   Measure levels of radiation and collecting air, soil, and water samples to test for contamination

•   Associate degree or equivalent military service

How to get started: Anyone interested in working as a nuclear technician may first want to obtain an associate degree in nuclear science or a related field. Job applicants may be able to substitute military experience for an associate degree if they had nuclear training while enlisted.

Pros:

•   Nuclear technicians can be compensated well for their time and skills

•   An advanced science degree is not necessarily a requirement

•   Nuclear tech jobs may offer opportunities to work independently

Cons:

•   Working in a nuclear facility is generally a high-risk job

•   Job outlook is declining, which means there may be fewer nuclear technician jobs to go around in the future

•   Advancement opportunities may be limited without a higher degree

5. First-Line Supervisor of Police and Detectives

Median pay: $101,750/year

Job growth outlook: 4%

Job description: First-line supervisors are responsible for overseeing the conduct of subordinate officers, managing investigations, and ensuring that all law enforcement protocols are properly applied.

Job duties and requirements:

•   Assist in criminal investigations as needed

•   Manage daily operations of police and detective personnel

•   High school diploma or equivalent

How to get started: Becoming a first-line supervisor begins with completing the necessary training to become a police officer. That usually means attending the police academy. Once hired as a rookie officer, individuals can work their way up the ranks to a supervisory position.

Pros:

•   First-Line supervisors can earn a salary that’s close to six figures

•   High school education may be enough to get started in a law enforcement career

•   Additional room for advancement

Cons:

•   Entry-level salaries may be relatively low

•   It can take years to work your way up to a supervisor position

•   Police work in general tends to be a dangerous profession

6. Transportation, Storage, and Distribution Manager

Median pay: $99,200/year

Job growth outlook: 9%

Job description: Managers are responsible for planning and coordinating transportation, storage, and distribution services or activities. Logistics manager is one job title that can fall under this occupational heading.

Job duties and requirements:

•   Oversee and organize operations related to the transportation, storage, and distribution of movable goods or commodities

•   Ensure that all activities are completed in accordance with local, state, and federal law

•   High school diploma or equivalent, plus relevant work experience

How to get started: Since this is a managerial role, it’s generally necessary to start off in an entry-level position in the transportation, storage, and distribution industry. On-the-job training and experience, as well as time on the job, can be key in earning advancement with this type of job.

Pros:

•   Suitable for organized and detail-oriented individuals

•   Well-above-average earning potential

•   Industry is experiencing above-average job growth

Cons:

•   May require long working hours

•   Can be a high-pressure job

•   Certain aspects may be more challenging, including working with a wide range of customers

7. Elevator and Escalator Installer and Repairer

Median pay: $102,420/year

Job growth outlook: 6%

Job description: Elevator and escalator installers and repairers assist with the installation, maintenance, and repair of elevator and escalator systems in commercial and residential properties.

Job duties and requirements:

•   Develop and implement plans for elevator or escalator installation

•   Maintain, service, and repair elevator and escalator equipment

•   High school diploma or equivalent

How to get started: The typical path to becoming an elevator and escalator installer and repairer begins with completing an apprenticeship. Apprentices may join a program approved by a union or trade industry to learn the necessary skills.

Pros:

•   No advanced degree needed to get started

•   Great earning potential for high school grads who are interested in a hands-on technical job

•   While job growth is slower than for other occupations, there continues to be high demand for workers with these skills

Cons:

•   May need to work on-call, which can complicate work-life balance

•   Elevator installers and repairers generally need to be comfortable working in close or cramped conditions

•   The work can sometimes be hazardous

8. Power Plant Operator, Distributors, and Dispatchers

Median pay: $100,890/year

Job growth outlook: -8%

Job description: Power plant operators, distributors, and dispatchers oversee systems that generate and distribute electric power. Nuclear power reactor workers can also fall within this job category.

Job duties and requirements:

•   Control and maintain equipment that’s used in power generation

•   Routinely conduct safety checks to ensure equipment is functioning properly

•   High school diploma or equivalent and on-the-job work experience

How to get started: A college degree is not required to work as a power plant operator, though it may benefit you to have an educational background in engineering or a related field. This job emphasizes extensive on-the-job training, though it’s possible you may need to obtain certain professional certifications for career advancement.

Pros:

•   No degree is needed to qualify for this job

•   Much of what you need to know can be learned on the job

•   Power plant operators earn a competitive salary

Cons:

•   Can involve hazardous working conditions

•   May require working long hours or on-call

•   Job growth is on the decline as use of renewable energy increases

9. Radiation Therapist

Median pay: $98,300/year

Job growth outlook: 3%

Job description: Radiation therapists administer radiation to people being treated for cancer and may work hand-in-hand with medical dosimetrists, medical physicists, and oncology nurses.

Job duties and requirements:

•   Explain treatments to patients and answer any questions they might have

•   Administer doses of radiation in a safe environment and at the levels specified by the patient’s treatment plan

•   Associate degree or certificate program

How to get started: If you’re interested in a career in radiation therapy, you may need an associate degree in nursing or a certificate in nursing to qualify. State law may also require you to be licensed or certified and complete ongoing education requirements.

Pros:

•   Earning potential is solid, and there may be room for advancement

•   Demand for radiation therapists appears to be holding steady

•   Good for people with strong soft skills

Cons:

•   May require working long hours

•   Can involve a lot of standing

•   Working with people who are severely ill can take a toll emotionally and mentally

10. Subway and Streetcar Operator

Median pay: $84,270/year

Job growth outlook: 4%

Job description: Subway and streetcar operators are responsible for the safe operation of subway trains, streetcars, and similar methods of transportation in compliance with local, state, and federal laws.

Job duties and requirements:

•   Operate subway or elevated trains or streetcars to convey passengers from one location to another

•   Some subway or streetcar operators may be charged with collecting fares

•   High school diploma or equivalent and on-the-job experience

How to get started: You’ll need a high school diploma or GED to apply for subway or streetcar operator jobs. That’s typically sufficient to get most entry-level positions and from that point on, you’ll largely learn what you need to know to do the job through hands-on training and experience.

Pros:

•   Pay scale is great for a job with no degree

•   Not required to sit at a desk all day

•   Working hours may be flexible

Cons:

•   May involve dealing directly with the public

•   There is some risk, as subway and streetcar accidents can happen

•   No hard physical labor but may be mentally and emotionally draining

11. Signal and Track Switch Repairer

Median pay: $82,710/year

Job growth outlook: 2%

Job description: Signal and track switch repairers are responsible for keeping track switch systems used on rail lines functioning properly. They primarily work within the railroad system, though they may also be employed by state and local government agencies.

Job duties and requirements:

•   Install and inspect track switches and signal equipment

•   Test, maintain, and repair gate crossings along railroad lines

•   High school diploma or equivalent and on-the-job training

How to get started: Getting an associate degree in electrical repair could give you an edge if you’re interested in getting hired as a signal and track switch repairer. However, it’s possible to break into this field with just a high school diploma because much of what the job requires is learned in a hands-on way. Completing an apprenticeship with an electrician could also be helpful.

Pros:

•   No degree is required to enter this industry, though it’s something to consider

•   Room for advancement

•   Above-average pay

Cons:

•   Generally requires good communication skills

•   Work has the potential to be hazardous

•   May require working on-call hours or long shifts

12. Postmaster and Mail Superintendent

Median pay: $88,670/year

Job growth outlook: -3%

Job description: Postmasters and mail superintendents oversee the operation of postal service branches and offices. This is technically not a federal job, but postal workers are entitled to the same benefits as federal employees.

Job duties and requirements:

•   Plan, direct, and coordinate administrative, operational, management, and support services at U.S. post office locations

•   Oversee the activities of employees working at post office branches

•   High school diploma or equivalent and on-the-job training

How to get started: If you’re interested in postal service jobs, you can apply for them online through the post office website. You’ll need to complete the Postal Battery Exam, but no degree or prior experience is required in order to get hired. This could be a good way to continue working after retirement.

Pros:

•   Room for advancement

•   Competitive pay and great benefits, including paid leave and health insurance

•   Full-time postmasters generally have weekends off

Cons:

•   Seasonality can make this job more hectic at certain times of the year

•   May involve dealing with the public from time to time

•   Job growth is on a slight decline, though there continues to be demand for postal workers

13. First-Line Supervisor of Firefighting and Prevention Workers

Median pay: $86,220/year

Job growth outlook: 4%

Job description: First-line supervisors oversee the activities of firefighting and prevention workers. They’re responsible for coordinating the operation of fire departments and may be referred to as a fire chief or fire captain.

Job duties and requirements:

•   Respond to fire calls and assign firefighters specific tasks to extinguish fires and rescue persons who may be trapped in affected buildings

•   Assess fire damage and write reports summarizing fire calls

•   Postsecondary non-degree certificate and on-the-job training

How to get started: A high school diploma may be sufficient to apply for a firefighter job, though it may benefit you to earn a degree in fire science if you’re hoping to obtain a managerial or supervisory role. You’ll need to be physically fit, attend fire academy, and complete a written exam as part of the application process.

Pros:

•   Opportunity to give back to your local community and do work that’s rewarding

•   Solid earning potential with room for advancement

•   Firefighting jobs include a solid employee benefits package

Cons:

•   Can involve working long hours and on-call hours, which can make achieving work-life balance difficult

•   Job may be physically demanding

•   Firefighting can also be mentally and emotionally taxing

14. Dental Hygienist

Median pay: $87,530/year

Job growth outlook: 9%

Job description: Dental hygienists typically work in dental offices and perform basic preventative care for patients, including visual exams and cleanings. They may work on a part-time or full-time basis.

Job duties and requirements:

•   Perform dental cleanings and take X-rays

•   Educate patients on proper dental hygiene techniques

•   Associate’s degree and licensing, when required by the state

How to get started: High school graduates who have taken courses in health or science may have a good framework for pursuing an associate degree in dental hygiene or enrolling in a dental hygiene training program. Licensing and certification may be required by the state before you can work in a dentist’s office.

Pros:

•   May offer the flexibility of part-time or full-time work

•   Potentially a great job for people who enjoy interacting with others

•   Dental hygienists typically have nights and weekends off

Cons:

•   Some patients may be more challenging to work with than others

•   May require lots of standing and bending, which can take a toll physically

•   Training and licensing can take time and money to complete

15. Police Officer and Detective

Median pay: $74,910/year

Job growth outlook: 4%

Job description: Police officers enforce the law and protect people and property. Detectives investigate crimes, which can include collecting evidence, interviewing witnesses and potential suspects, and testifying in criminal court cases.

Job duties and requirements:

•   Police officers respond to emergency and non-emergency calls, patrol assigned areas, make arrests, and execute search warrants

•   Detectives investigate crimes in order to identify victims and suspects, and collect evidence for cases that may be referred for prosecution

•   High school diploma or equivalent and on-the-job training

How to get started: A high school diploma may be all you need to apply for police officer training at a local accredited academy. Some departments may require an associate or bachelor’s degree. You’ll need to be physically fit and successfully complete a psychological evaluation.

Pros:

•   Opportunity to serve in your local community and give back

•   Room for advancement, particularly if you’re interested in detective work or a supervisory role

•   Opportunities for specialization if you’re interested in becoming a game warden or eventually pursuing a career in federal law enforcement

Cons:

•   Entry-level pay may be on the lower end

•   While a degree is not necessarily required, getting hired can be a rigorous process

•   Work involved can be mentally, emotionally, and physically taxing, and in some cases dangerous

16. Aircraft and Avionics Equipment Mechanic and Technician

Median pay: $75,400/year

Job growth outlook: 5%

Job description: Aircraft and avionics equipment mechanics and technicians maintain and repair aircraft. They can work at airports, repair stations, or hangars, and some may have previous experience serving planes in the military.

Job duties and requirements:

•   Diagnose mechanical or electrical problems with aircraft and make repairs

•   Test aircraft instruments to ensure that they’re in good working order

•   High school diploma, though an associate’s degree doesn’t hurt

How to get started: People who are interested in working in avionics may be able to enter the field with just a high school diploma, though some employers may look for an associate degree or higher. Technicians may need to complete FAA-approved training.

Pros:

•   The work itself might be interesting to someone who’s fascinated with planes or mechanical engineering

•   Above-average pay

•   Job growth outlook suggests that these jobs will continue to be in demand

Cons:

•   Working around airplanes and other aircraft can lead to hearing loss

•   FAA certification is required, which can take time to complete

•   Work schedules may be less flexible than other jobs

17. Claims Adjuster, Examiner, Appraiser, and Investigator

Median pay: $75,020/year

Job growth outlook: -5%

Job description: Claims adjusters, examiners, appraisers, and investigators handle various aspects of insurance claims filings. They typically work full-time and help insurance companies decide when to pay claims, based on the information they gather.

Job duties and requirements:

•   Investigate, evaluate, and settle insurance claims, including determining how much an insurer should pay

•   Review claims information to look for signs of insurance fraud

•   High school diploma or equivalent

How to get started: If you’re interested in insurance jobs, the path you follow can depend on what type of role you’re interested in. If you’d like to be an appraiser, for instance, you might complete a postsecondary non-degree award program and gain experience by working in an auto body shop.

Pros:

•   While job growth is expected to decline, demand for adjusters and related roles is set to rise as currently employed professionals age into retirement

•   Depending on which role you’re interested in, your work may take you outside the office versus keeping you at a desk all day

•   Work may be interesting for people who have an inquisitive nature

Cons:

•   Gathering information and writing reports can be tedious

•   A bachelor’s degree may be required for certain jobs

•   Work schedules may be less flexible than other jobs

18. Fire Inspector

Median pay: $71,420/year

Job growth outlook: 6%

Job description: Fire inspectors are responsible for visiting commercial and residential buildings and ensuring that they’re observing proper fire safety protocol. They can also specialize in fire prevention education or forest fire management.

Job duties and requirements:

•   Inspect buildings to look for fire hazards and ensure that structures are aligned with local, state, and federal fire codes

•   Review building plans with developers to ensure that new construction meets fire code standards

•   High school diploma or equivalent and previous experience as a firefighter

How to get started: Typically, fire inspectors first work as firefighters, though that isn’t necessarily a requirement for candidates who have other suitable education or training. A high school diploma may be sufficient for the job, though it may benefit you to earn a degree in fire science or attend a fire academy.

Pros:

•   Fire inspection is typically less hazardous than firefighting

•   Above-average pay with room for higher earnings if you decide to complete a degree program

•   Can be a rewarding job for people who want to do work that serves the public good

Cons:

•   Previous experience as a firefighter may be a requirement to get hired

•   Working hours may be long and irregular

•   Fire inspectors may potentially be exposed to hazardous materials or substances during the course of their work

19. Water Transportation Worker

Median pay: $64,930/year

Job growth outlook: 3%

Job description: Water transportation workers operate vessels that transport goods or people over bodies of water. Ferry operators, barge operators, and ship captains are all examples of water transportation workers.

Job duties and requirements:

•   Operate and maintain marine vessels in accordance with local, state, and federal laws

•   Ensure the safety of people or cargo on board marine vessels

•   High school diploma or equivalent and relevant work experience

How to get started: There are different requirements for each type of water transportation role. Sailors, for instance, typically don’t need formal education, but you might need Coast Guard-approved training to captain a ship or helm a barge. Certain water transport workers may need to obtain Merchant Mariner credentials or Transportation Worker Identification credentials.

Pros:

•   Water transport jobs may appeal to people who love being on open water or want to work outdoors

•   A bachelor’s degree isn’t always necessary but it could lead to higher earnings and promotions

•   More new openings are expected over the next decade as existing water transport workers retire

Cons:

•   Work schedule may be highly irregular and require you to spend extended periods of time away from home

•   Work hours may be long, with little time for breaks

•   Operating marine vessels can be a hazardous occupation

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20. Electrical and Electronics Installer and Repairer

Median pay: $67,220/year

Job growth outlook: 1%

Job description: Electrical and electronics installers get paid to install and repair electrical or electronic equipment. They may work in repair shops or factories and usually work on a full-time basis.

Job duties and requirements:

•   Inspect and test equipment to diagnose potential issues

•   Disassemble, reassemble, clean, and repair equipment

•   Training and education at the trade school level

How to get started: Electrical and electronics installers and repairers are typically expected to complete a training program through a trade, vocational, or technical school. Hands-on training, either through a school program or apprenticeship, can also be highly useful when seeking these types of jobs.

Pros:

•   No bachelor’s degree required

•   Could be ideal for people who enjoy hands-on work

•   Licensing and certification may not be required, but it could help to open up opportunities for advancement or higher earnings

Cons:

•   Job growth is stable but not spectacular

•   Working around electricity and electronics is not a risk-free job

•   Can be a physical job that requires lots of standing, squatting, bending, and lifting

21. Occupational Therapy Assistant and Aide

Median pay: $65,450/year

Job growth outlook: 21%

Job description: Occupational therapy assistants and aids work in healthcare settings, including hospitals, doctor’s offices, and nursing care facilities. They help patients to develop necessary skills for daily living and working.

Job duties and requirements:

•   Occupational therapy assistants provide therapy services to patients

•   Occupational therapy aides provide support services to occupational therapy assistants

•   High school diploma for aides; associate degree for assistants

How to get started: If you’re interested in becoming an occupational therapy assistant aide, then a high school diploma may be all you need. You could pursue an associate degree if you’d like to advance into an occupational therapy assistant role. Certifications in CPR and basic life support may also be required for these types of jobs.

Pros:

•   One of the fastest-growing jobs in healthcare with excellent demand for qualified candidates

•   Great earnings potential for people with a high school diploma

•   May allow for travel or flexible work schedules

Cons:

•   Can be a physically demanding job

•   Flexible working hours are not always guaranteed, and you may need to work nights or weekends

•   Certain patients may be more challenging to care for than others

22. Court Reporter and Simultaneous Captioner

Median pay: $63,940/year

Job growth outlook: 2%

Job description: Court reporters transcribe official court proceedings, including trial proceedings, hearings, and depositions. Simultaneous captioners provide transcription services for video recordings that require closed captioning.

Job duties and requirements:

•   Court reporters attend court proceedings and transcribe the details word-for-word

•   Captioners transcribe dialogue for video recordings, including television shows and films, that are used to create captions for viewers

•   Certificate or associate degree

How to get started: Becoming a court reporter or captioner may start with completing a certificate or associate degree program at an accredited trade school. Court reporters may need to complete additional training to learn how to use transcription software. States may require certification or licensing for court reporters and captioners.

Pros:

•   Good-paying job for people without a four-year degree

•   Opportunities exist to do court transcription or captioning work on a freelance basis

•   While job growth is steady, rather than fast, demand is stable overall

Cons:

•   Work may involve sitting for long periods of time

•   Working hours may be long and might necessitate taking work home with you

•   Could be stressful as there’s no room for errors or mistakes

23. Telecommunications Equipment Installer and Repairer

Median pay: $62,350/year

Job growth outlook: -3%

Job description: Telecommunications and equipment installers and repairers are responsible for installing, maintaining, and repairing telecommunications equipment, including phone lines, cable lines, and wireless communication equipment.

Job duties and requirements:

•   Install telecommunications equipment in commercial and residential structures

•   Inspect, service, and repair telecommunications equipment

•   Certificate or associate degree

How to get started: Telecom equipment installation and repair jobs typically require some form of education beyond high school. Depending on the employer, that might mean a certificate or associate degree. Once hired, you can expect to complete on-the-job training.

Pros:

•   May involve travel or working in different settings, which is great for people who get bored easily

•   Salaries are above-average, with room to advance and increase earnings

•   Affords opportunities to meet new people and flex your problem-solving skills

Cons:

•   Average salaries are not as high as what you might get with other good-paying jobs that don’t require college

•   Additional education may be required for certain jobs

•   This kind of work has the potential be dangerous; for example, there is a risk of falls associated with servicing cell phone towers

24. Commercial Diver

Median pay: $61,300/year

Job growth outlook: 8%

Job description: Commercial divers can work in a number of capacities, but generally they’re paid to use their scuba skills. For example, divers employed by the oil and gas industry may be charged with inspecting underwater drilling structures to check for damage or structural issues.

Job duties and requirements:

•   Some commercial divers are paid to inspect and repair underwater structures and equipment

•   Other commercial divers may earn a living by photographing marine life

•   Postsecondary non-degree award and scuba training

How to get started: Becoming a commercial diver starts with deciding what type of work you want to do. For instance, if you want to get paid to photograph marine life, then you may want to complete a photography certificate program at an accredited school. If you’re interested in using your diving skills to repair underwater structures, then you may need to learn a specialized skill like welding.

Pros:

•   Diving for a living can be a fun job for people who like being in the water

•   Advanced education or training may not be a requirement for entry-level jobs

•   Diving jobs can offer flexibility and great earning potential

Cons:

•   Can be physically demanding

•   Work may not always be steady or consistent if you’re hired as a contract worker. Use a money tracker app to manage your income and budgets between paychecks.

•   Diving is an inherently dangerous activity

25. Drafter

Median pay: $62,530/year

Job growth outlook: -1%

Job description: Drafters use software programs to convert engineering and architectural designs into technical drawings. They may work in a variety of fields, including architecture, engineering, manufacturing, and construction. This could be a lucrative work-at-home job for retirees.

Job duties and requirements:

•   Use Computer Aided Design (CAD) software to design plans, working from sketches done by architects or engineers

•   Specify dimensions and materials for new building projects

•   Certificate, diploma, or associate degree

How to get started: Drafters may continue their high school education by attending a trade school to obtain a certificate or associate degree. They may also opt to obtain certifications in their field, though that isn’t always necessary to get hired.

Pros:

•   Drafting may be a good career for someone who’s artistic or creative

•   Getting certification or earning a four-year degree could boost your earning potential

•   Job growth is projected to slow but there will still be demand for drafters as current employees retire

Cons:

•   Requires exceptional attention to detail with no room for error

•   Economic disruptions, such as recessions, may reduce demand for drafters if construction slows

•   Certain aspects of the job can be repetitive or tedious

Recommended: What is The Difference Between Transunion and Equifax?

The Takeaway

Finding a good paying job without college is possible. Some require technical education, military training, or on-the-job experience. Industries that welcome high school grads include transportation, law enforcement, power plants, telecoms, the postal service, and healthcare. Perks can include the opportunity to travel and flexible hours. Some jobs pay more than $100K.

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 good jobs can you get if you don’t go to college?

Some good-paying jobs you can get without college include air traffic controller, law enforcement, and certain healthcare roles. Trade jobs and jobs in transportation can also pay well and don’t necessarily require a college degree.

How can I get 6 figures without going to college?

If you’re interested in making six figures without a college degree, you’ll need to either find a good-paying job or start a successful business. It’s possible to make six figures online as a freelance writer or blogger, if you have good writing skills and are motivated to grow your business.

How do people make a living without a college degree?

Plenty of people make a living without a college degree by using their skills and experience to land good-paying jobs. Others can earn a good living, including making six figures a year, by starting their own business, which doesn’t necessarily require a degree.

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About the author

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Photo credit: iStock/MesquitaFMS

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.

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Ever wondered if location makes a difference in the size of your paycheck? New Yorkers on average earn an annual salary of $74,870, according to a Forbes analysis of data from the Bureau of Labor Statistics (BLS). For perspective, the average annual salary in the U.S. is $63,795 according to the national average wage index.

Here’s a deeper dive into the average salary in New York by age and location.

Average Salary in New York by Age in 2024

The average income by age in New York increases with age until people hit their mid-60s. Adults under 25 earn an average annual salary of $39,366, while those in the 25 to 44-year-old range pull in an average income of $85,570. Workers in the 45- to 64-year-old range earn the most, with average annual pay of $88,827.

That makes sense, given that most people don’t reach their highest-earning years until their 40s. The average salary in New York by age drops to $51,837 for those 65 and older, which can be attributed to more people leaving the workforce to retire or cutting back on the number of hours worked.3

Using a money tracker can help you stay on top of your income and expenses through every stage of your earnings journey.

Recommended: Highest Paying Jobs by State

Average Salary in New York by City in 2024

The average salary in New York is higher than the average pay in the United States but earnings aren’t the same in every city.

If you’re using a budget planner app to keep a close eye on your finances, your choice of hometown can make a difference in how far your money goes. Here’s a comparison of the top 10 highest-earning cities in New York, according to ZipRecruiter.

City	Annual Salary
Queens	$103,148
Islip	$101,069
Albany	$99,106
Monroe	$98,563
Bronx	$96,858
Brooklyn	$96,659
Deer Park	$95,266
Vernon	$94,513
Oyster Bay	$93,458
Borough of Queens	$92,914

In these cities, the average monthly salary in New York ranges from $8,595 at the high end to $7,742 at the low end. By comparison, the average salary in the U.S. breaks down to $5,316 monthly.

Recommended: How to Calculate Your Net Worth

Average Salary in New York by County in 2024

What’s considered a good entry-level salary or annual salary in New York can vary by county. Here’s a look at the average salary for 10 counties across the state, according to BLS data.

County	Annual Salary
New York	$157,465
Westchester	$95,004
Albany	$79,768
Nassau	$78,312
Saratoga	$68,640
Erie	$66,300
Richmond	$65,884
Kings	$60,476
Oneida	$60,008
Broome	$59,332

Examples of the Highest-Paying Jobs in New York

The highest-paying jobs in New York pay well over $100,000 annually, with some of the best-paying jobs topping $200,000 in yearly salary on average. Even the top 100 highest-paying jobs offer an entry-level salary in the six-figure range.

Have your sights set on landing a six-figure salary job? Some of the most lucrative job titles in New York, according to Zippia, include:

•   Finance Services Director: $226,494

•   Hospitalist Physician: $215,888

•   President/Chief Executive Officer: $201,998

•   Executive Vice President: $192,649

•   Internal Medicine Physician: $192,457

•   Chief Administrative Officer: $188,629

•   Operator and Truck Driver: $185,868

As you can see from this list, many of the highest-paying jobs in New York are in the business and medical fields, though some may be good jobs for introverts. Your average earnings can depend on your years of experience, education, and chosen career path.

The Takeaway

Understanding the average income by age, for New York or any other state, can give you an idea of how you compare to other workers. It’s important to remember, however, that earning six figures or more isn’t an automatic guarantee that you’ll be financially secure. Student loan debt, high housing costs, and inflation can test just how far your money goes.

If you’re working your way up the career ladder while paying down debt and focusing on savings, your net worth may be a better metric to track. You can use a net worth calculator by age to see where you should be, compared to people in your age range. If you’re ahead, then you know your financial plan is working. And if you’re behind, you can work out a strategy for getting caught up.

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 a good average salary in New York?

A “good” average salary in New York state depends on the cost of living in your city or county and your spending habits. Your marital status can also make a difference. A single person living in New York City might be able to live comfortably on $70,000 a year, while a couple with two kids may need $300,000 a year in salary to cover expenses.

What is the average gross salary in New York?

The average New Yorker earns an annual salary of $74,870. That’s nearly $15,000 more per year than the average worker in the U.S. earns.

What is the average income per person in New York?

The average income per capita in New York is $47,173. This number is below the average salary figure for New York overall, as per capita income counts all people, including those who are not working or earning income.

What is a livable wage in New York?

A livable wage for a single person with no children in New York is $26.60 per hour. If you assume a 40-hour workweek and 50 weeks of work per year, with two off for vacation, that adds up to $53,200 per year. Meanwhile, to earn a livable wage, a married couple with two kids would need $33.53 per hour if both parents work, or $46.47 per hour if only one works. That’s an annual income of $69,742 or $96,658, based on the same 40-hour week and 50 weeks of work per year.

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About the author

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Photo credit: iStock/LeoPatrizi

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.

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.

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

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

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The average net worth of Americans is about $1.06 million, according to the Federal Reserve’s most recent Survey of Consumer Finances released in October 2023. Meanwhile, the median net worth of American households is $192,900, according to the same Federal Reserve Survey.

Net worth measures the difference between assets (what you own) and liabilities (what you owe). Understanding the average American net worth by age can be useful for comparing your own progress in building wealth.

Recommended: Does Net Worth Include Home Equity?

What the Average American Net Worth 2023 Includes

The Federal Reserve collects data on net worth in the U.S. using the Survey of Consumer Finances. This survey is conducted every three years; the most recent undertaking began in March 2022. Findings are typically published in the year following the year the survey was completed.

To understand wealth and economic well-being in the U.S., the Federal Reserve looks at several specific factors:

•   Income

•   Homeownership status and home value

•   Debt (including mortgage debt, credit card debt, vehicle loan debt, and student debt)

•   Assets (including investment accounts, deposit accounts held at banks, vehicles, and business equity)

The Federal Reserve uses net worth as a gauge to measure increases or decreases in overall wealth levels. The survey also takes into account demographic factors, such as age, race, ethnicity, and level of education.

If you’re interested in calculating your net worth, you’d use similar metrics. For example, you could use an online net worth calculator to enter in your total debts and assets to determine your net worth. When calculating net worth home equity may or may not be included, depending on your preferences. It’s possible to get a positive or negative number, depending on how your liabilities compare to your assets.

You can also use a budget planner app to track net worth as well as your spending, credit scores, and savings. This type of money management tool can deliver a snapshot of your finances to your mobile device.

Recommended: What Credit Score is Needed to Buy a Car?

How the Average American Net Worth Varies By Age

Using the Survey of Consumer Finances as a guide, net worth rises over the average American’s lifetime before gradually beginning to decline. Average net worth is lowest for Americans under age 35; between the ages of 35 and 44, the average net worth makes a sizable leap.

There’s another significant bump that happens between the ages of 45 and 54, then the pace at which net worth increases begin to slow. Once Americans turn 75, their average net worth begins to decline.

This pattern makes sense, however, if you consider what the typical person’s working career and retirement might look like. Someone in their 20s likely isn’t making much money yet. They probably don’t own a home and a lot of what they do make might go to repaying student loans, car loans, or credit cards.

In their 30s and 40s, they may move into higher-paying jobs. Their debts may be mostly paid down or paid off so they can afford to buy a home. By the time they reach their mid-40s, they may be in their peak earning years and their home might have appreciated in value since they purchased it.

Net worth growth begins to gradually slow down once they’re in their 50s and 60s. That could be chalked up to moving some of their portfolio into safer investments or beginning to draw down their savings if they’re retired. Once they reach their 70s, they may be spending more of their assets on health care, including long-term care. Or they might have downsized into a home with a lower value.

Age Range	Average Net Worth
Less than 35	$183,500
35-44	$549,600
45-54	$975,800
55-64	$1,566,900
65-74	$1,794,600
75+	$1,624,100

Source: The Federal Reserve’s 2023 Survey of Consumer Finances

How the Average American Net Worth Varies Over Time

The Survey of Consumer Finances provides a snapshot of how the average American net worth has changed over time. From 1998 to 2007, for instance, there’s a steady increase in net worth among American households. But between 2007 and 2013, the average American net worth declined. This makes sense, given that the 2008 financial crisis had an impact on millions of American households. Between 2013 and 2019, net worth rebounded sharply, and it continued to rise between 2019 and 2022.

This begs the question of how much net worth might change again if the economy were to experience another downturn. If home values were to drop or a bear market caused stock prices to dip, it stands to reason that Americans’ might see their net worth fall. There is a silver lining, as economies do recover over time and the impacts may be less for younger investors. But a drop in net worth might not be as welcome for someone who’s close to retirement.

Survey of Consumer Finances Year	Average American Net Worth
2019 – 2022	$1.06 million
2016 – 2019	$748,800
2013 – 2016	$692,100
2010 – 2013	$534,600
2007 – 2010	$498,800
2004 – 2007	$556,300
2001 – 2003	$448,200
1998 – 2001	$395,500

How the Average American Net Worth Varies by State

The Survey of Consumer Finances does not track net worth data by state. But the Census Bureau does compile information on household wealth and debt at the state level.

In terms of what influences the average net worth by state, there are a number of factors that come into play. Some of the things that can influence net worth include:

•   Homeownership rates

•   Property values

•   Employment opportunities

•   Average incomes

•   Access to education and job training

According to the most recent data available from the Census Bureau, the median net worth across all states was $166,900 as of 2021. “Median” represents households in the middle of the pack, so to speak, for net worth calculations. Here’s what the median net worth looks like in each state.

State	Median Net Worth	State	Median Net Worth
Alabama	$85,900	Montana	$190,300
Alaska	(B)*	Nebraska	$99,520
Arizona	$126,100	Nevada	$93,920
Arkansas	$49,990	New Hampshire	$243,600
California	$200,300	New Jersey	$195,200
Colorado	$217,900	New Mexico	$56,450
Connecticut	$173,500	New York	$123,900
Delaware	$143,700	North Carolina	$108,400
District of Columbia	$24,000	North Dakota	$241,000
Florida	$95,770	Ohio	$102,800
Georgia	$110,000	Oklahoma	$80,790
Hawaii	$373,200	Oregon	$183,200
Idaho	$182,400	Pennsylvania	$137,800
Illinois	$103,500	Rhode Island	$83,790
Indiana	$84,620	South Carolina	$81,150
Iowa	$152,800	South Dakota	$216,600
Kansas	$77,010	Tennessee	$70,100
Kentucky	$73,150	Texas	$90,390
Louisiana	$84,850	Utah	$170,900
Maine	$107,400	Vermont	(B)*
Maryland	$194,700	Virginia	$148,400
Massachusetts	$251,000	Washington	$170,400
Michigan	$117,600	West Virginia	$65,920
Minnesota	$228,500	Wisconsin	$110,400
Mississippi	$40,280	Wyoming	$171,600
Missouri	$70,220

^*Note: Where a (B) is entered, that means the base was less than 200,000 households or a sample size of less than 50 so the Census Bureau did not record net worth information for those states.

Recommended: What Is The Difference Between Transunion and Equifax?

The Takeaway

As discussed, net worth captures the difference between an individual’s assets and their debts. In the U.S. the average net worth varies by location and age. Tracking net worth is something you may want to do monthly if you’re paying off debt. You can use a money tracker app to figure out how long it will take you to become debt-free based on what you can afford to pay. As your income increases you may be able to pay down debt in larger amounts to increase your net worth faster.

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 the average net worth by age for California?

The median net worth for Californians is $200,300, according to the Census Bureau. This figure represents the middle ground between California residents of all ages from the highest net worth to the lowest.

What is the average net worth by age for New York?

The median net worth for New Yorkers of all ages is $123,900, according to the Census Bureau. This figure represents the middle ground between New York residents whose net worth is at the highest and lowest end of the spectrum.

What is the average net worth by age for Florida?

The median net worth for Florida residents of all ages is $95,770, according to the Census Bureau. This amount represents the middle ground between Floridians with the highest and lowest net worth.

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About the author

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Photo credit: iStock/Prostock-Studio

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.

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Understanding the differences between CreditWise and FICO® Score is essential for managing your credit health. While both tools provide insights into your creditworthiness, they use distinct scoring models and data sources.

FICO scores are produced by the Fair Isaac Corporation and are one of the most popular types of credit scores. CreditWise is a service provided by Capital One that provides you access to your TransUnion® credit report and your VantageScore® 3.0 credit score.

This article will explore how these scores are calculated, their impact on your financial decisions, and which one lenders prefer.

What Is a Credit Report?

Your credit report is a statement that has information about how well you have historically paid loans and used other types of credit. Most consumers have more than one credit report. This is because there are multiple companies that collect and maintain credit information about consumers.

Three of the largest credit reporting bureaus are Equifax®, Experian®, and TransUnion. Each of these credit bureaus collect information about consumers, and many consumers have credit reports from all three. Typically, credit scores are calculated using the information gathered from the three credit bureaus.

Recommended: How Long Does It Take to Build Credit?

How CreditWise Works

CreditWise, a free credit monitoring tool offered by Capital One, empowers users to track their credit health without affecting their credit score. By utilizing data from TransUnion and the VantageScore 3.0 model, CreditWise provides users with a clear snapshot of their credit status.

One of its standout features is the credit simulator, which allows users to explore how financial decisions — such as paying off debt or applying for a new credit card — could impact their score. CreditWise also sends real-time alerts for significant changes in credit activity, helping users detect potential fraud and stay informed about their credit profile.

How FICO Works

FICO, or the Fair Isaac Corporation, is a leading provider of credit scoring models widely used by lenders to assess creditworthiness. The FICO score is calculated using data from the three major credit bureaus — Experian, TransUnion, and Equifax — and evaluates factors such as payment history, credit utilization, length of credit history, new credit inquiries, and credit mix.

By analyzing these factors, FICO generates a score ranging from 300 to 850, helping lenders gauge the risk associated with lending money or extending credit to a borrower.

Recommended: 10 Strategies for Building Credit Over Time

Differences Between CreditWise vs. FICO

The primary difference between CreditWise and FICO lies in their scoring models and purpose. CreditWise uses the VantageScore 3.0 model, which analyzes credit data from TransUnion. It’s a free tool that helps consumers monitor their credit health.

On the other hand, FICO scores are the industry standard, used by over 90% of lenders to assess creditworthiness. FICO scores are based on data from all three major credit bureaus: Experian, TransUnion, and Equifax.

While CreditWise is great for tracking trends and identifying fraud, FICO scores play a crucial role in loan approvals and interest rate determinations.

Recommended: Differences Between VantageScore and FICO Credit Scores

How Credit Scores Are Calculated

Different companies calculate their credit scores in different ways, though most companies use similar information. As mentioned above, the Fair Isaac Corporation lists five factors that affect your FICO score:

•   Payment history (35%)

•   Amounts owed (30%)

•   Length of credit history (15%)

•   Credit mix (10%)

•   New credit (10%)

Paying your bills on time and lowering your credit card utilization are two common ways that you can build your credit score.

Why Are There Different Scores?

There are different credit scores because each scoring model uses unique algorithms to assess creditworthiness. Additionally, scores can vary depending on which credit bureau — Experian, TransUnion, or Equifax — provides the data. Each model weighs factors like payment history and credit utilization differently, leading to score variations.

Generally, though, different credit scores for the same person should be within a few points of each other.

How to Check Your Credit Score and Report

There are a few ways that you can check your credit score and your credit report. You may be able to access your credit score as a perk of certain credit cards that you may already have or spending apps that you subscribe to. You can get a copy of your credit report for free from each of the three major credit reporting bureaus at least once per year.

How to Access Your FICO Score and CreditWise Report

If you want to know your FICO score specifically, here’s how to check it:

•   Check through your bank or credit card issuer: Many financial institutions offer free FICO score access to customers.

•   Visit the official FICO website: Purchase your score directly from myFICO.com.

•   Use credit monitoring services: You can sign up for credit score monitoring. SoFi’s credit monitoring service allows you to track your credit score and receive weekly updates at no cost.

•   Check with credit counseling agencies: Some nonprofit agencies offer free credit score reviews.

•   Request a credit report: While not always included, some reports might show your FICO score.

Here’s how you can access your CreditWise report:

•   Download the CreditWise app: Available on iOS and Android devices for easy access.

•   Visit the CreditWise website: Access the report directly at www.CreditWise.com.

•   Sign up through Capital One: CreditWise is free for Capital One customers, but others can also access it.

•   Use the Capital One mobile app: Check your credit score and report from the app if you’re a Capital One customer.

•   Monitor credit activity regularly: Track changes in your credit score and report updates over time.

The Takeaway

There are many companies that produce credit scores, and each credit score uses different information and a different model.

FICO credit scores are produced by the Fair Isaac Corporation, and are one of the most popular types of credit scores. CreditWise is a service provided by Capital One, and provides access to your VantageScore credit score. These two types of credit scores are different, though generally your scores should fall in the same range.

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

How close/accurate is CreditWise?

CreditWise is a service provided by Capital One to its customers, and it provides access to your credit report, credit score monitoring, and your VantageScore credit score. VantageScore is considered a valid credit score, and while it is not the same as a FICO credit score, it should generally be within a few points of FICO and other credit scores.

Why is my FICO score lower than my CreditWise score?

Your FICO score may be lower than your CreditWise score because they use different scoring models. FICO considers factors like payment history and credit utilization, while CreditWise uses the VantageScore model, which weighs credit behavior differently. Additionally, each service may access data from different credit bureaus, leading to score variations.

Is CreditWise your real credit score?

CreditWise provides a VantageScore 3.0 based on data from TransUnion, which is a legitimate credit score but not the same as a FICO score, which most lenders use. While helpful for monitoring credit health, it may not be the exact score lenders reference when making lending decisions.

What’s more accurate, CreditWise or FICO?

FICO scores are considered more accurate for lending decisions, as they are used by the majority of lenders to assess creditworthiness. CreditWise, which provides a VantageScore 3.0, is helpful for monitoring credit health but may differ from the score lenders rely on when evaluating loan applications.

Which score is closest to FICO?

VantageScore is the closest alternative to FICO, as both use similar credit data from the major bureaus — Experian, Equifax, and TransUnion. However, their scoring models differ slightly. FICO scores range from 300 to 850, while VantageScore also falls within this range but weighs factors like payment history and credit utilization differently.

What is a good CreditWise score?

A good CreditWise score typically falls within the range of 670 to 739 on the VantageScore 3.0 scale, which ranges from 300 to 850. Scores in this range indicate responsible credit management and make it easier to qualify for loans, credit cards, and favorable interest rates.

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Photo credit: iStock/Delmaine Donson

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

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

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

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

SORL-Q125-021

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The Child Tax Credit (CTC) is designed to offer a tax break to qualifying families with one or more children. So how much is it worth? The Child Tax Credit 2024 maximum is $2,000 per qualifying child.

Part of the credit, referred to as the Additional Child Tax Credit (ACTC), is refundable. The refundable portion is worth up to $1,700 per qualifying child.

Here’s more on how Child Tax Credit payments for 2024 work.

What Is the Child Tax Credit?

There are two main types of taxes most people have to deal with: federal and state. The IRS, or Internal Revenue Service, is in charge of collecting federal income tax as well as extending tax credits and other tax breaks to eligible filers.

The Child Tax Credit is a federal tax credit for families with qualifying children. Whether you’re filing taxes for the first time or the 20th, it’s to your advantage to claim every credit you’re eligible for, especially if you have kids.

Here are a few key takeaways to know about the credit:

•   Parents and guardians of qualifying children may be eligible to claim the Child Tax Credit even if they don’t normally file a tax return.

•   Unlike some family-oriented tax credits, the Child Tax Credit is not limited exclusively to lower-income households. In other words, what tax bracket you are in or income you earn is not a determining factor.

•   Child Tax Credit maximums and income thresholds are adjusted periodically to reflect changes to the Internal Revenue Code.

The Child Tax Credit is distinct from the Child and Dependent Care Credit, which helps families recover some of the money they pay for child care so they can work. It’s possible to claim the Child Tax Credit alongside one or more deductions, which reduce your taxable income.

Using a money tracker can help you keep up with expenses that may qualify for tax deductions each year. You can also adjust your income tax withholding through your employer to ensure the right amount of tax is being taken out of your paychecks.

Recommended: How Much Do You Have to Make to File Taxes?

How Much Is the Child Tax Credit?

Here’s how much the Child Tax Credit is for 2024: The amount is $2,000 per qualifying child. Some points to note:

•   The $2,000 amount is the most you could qualify for per child if you’re eligible to claim this credit. The amount of the credit you can claim is reduced by $50 for every $1,000 you earn above $200,000 for single filers or above $400,000 for joint filers.

•   Part of the Child Tax Credit is refundable, which means that if you owe less in taxes than the amount of the credit you qualify for, you can get the difference back as a refund. The refundable part of the Child Tax Credit is called the Additional Child Tax Credit (ACTC), and it maxes out at $1,700 per qualifying child.

The IRS decides how much of the Additional Child Tax Credit you qualify for using this formula:

Earned income above $2,500 x 15% = Your additional child tax credit amount

You can do the math yourself or use tax preparation software to crunch the numbers. Or you might work with a tax professional.

How the Child Tax Credit Works

The Child Tax Credit works by reducing the amount of tax you owe when you file your return.

•   First, here’s how to qualify. Each child to be claimed must:

•   Have a Social Security number

•   Be under age 17 at the end of 2024

•   Be claimed as a dependent on your tax return

•   Be a U.S. citizen, U.S. national, or U.S. resident alien

•   Be your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or a descendant of one of these (for example, a grandchild, niece, or nephew)

•   Not provide more than half of his or her own support for the tax year

•   Have lived with you for more than half the tax year

Now, here’s the simple version of what it means to claim the Child Tax Credit.

•   Depending on how much you owe, the child tax credit can reduce your tax to $0.

•   If your Child Tax Credit is more than the amount you owe, you may be eligible for the Additional Child Tax Credit, or ACTC.

•   The ACTC lets you get the portion of the credit you didn’t apply to your tax liability back as a refund, up to the $1,700 per child limit.

To claim a tax child credit for 2024, you’ll need to file an income tax return using Form 1040 and complete Schedule 8812, Credits for Qualifying Children and Dependents. This form asks you questions about your child, income, and filing status to determine if you’re eligible for the Child Tax Credit (or Additional Child Tax Credit) and the amount.

Again, if you’re using reliable tax prep software, your program should walk you through the questions you need to answer. And if you expect to get money back from taxes in a refund, using an online budget planner can help you figure out how to make the most of it.

Benefits of the Child Tax Credit

The primary benefit of the Child Tax Credit is that it can reduce what you pay in taxes to the IRS. Tax credits are amounts that reduce your tax liability, or the amount you owe, on a dollar-for-dollar basis. So, if you owe $1,000 in taxes and qualify for a $1,000 tax credit, the credit could bring your tax bill down to $0.

The Child Tax Credit, along with other credits, helps you pay less in taxes and keep more of your money. On a broader scale, research shows that the Child Tax Credit helps to:

•   Reduce poverty and financial hardship

•   Improve housing affordability for families

•   Improve long-term educational, financial, and health outcomes for children

•   Produce greater economic stability overall

While the credit is available to higher-income families, it primarily benefits lower- and middle-income households.

Recommended: Everything You Need to Know About Taxes on Investment Income

Child Tax Credit History

The Child Tax Credit was created by the Taxpayer Relief Act of 1997 to ease the financial burdens associated with raising children. In its earliest form, the credit was generally nonrefundable and its availability was limited to middle- and upper-middle-class taxpayers.

Since inception, lawmakers have taken steps to:

•   Adjust income thresholds for eligibility

•   Raise (or lower) the amount of the credit

•   Redefine what it means to be a qualifying child

The most recent round of changes came in 2017 with the passage of the Tax Cuts and Jobs Act. Under the Act, the credit was expanded to allow more families to claim it.

Did the Child Tax Credit pass for 2024? Yes, it’s still available in its expanded form under the TCJA.

However, without congressional intervention, the limits will revert to their pre-2017 levels beginning in January 2026. That would put the maximum child tax credit at $1,000 while the maximum age for dependents would drop to 16.

Child Tax Credit Eligibility

If you’re preparing for tax season, you might be wondering if you’re eligible for the Child Tax Credit. The IRS has a few requirements you’ll need to meet to claim the child tax credit, as noted above. First, you must have a qualifying child who is:

•   Under 17 at the end of the tax year

•   Your son, daughter, stepchild, eligible foster child, brother, sister, stepsibling, half-sibling, or a descendant of one of these, such as a grandchild, niece, or nephew

•   Reliant on you for more than half of their support for the tax year

•   Living with you or has lived with you more than half the tax year

•   Eligible to be claimed as a dependent on your return

•   Not filing a joint return themselves

•   A U.S. citizen, U.S. national, or resident alien

The child must also have a valid Social Security number that was issued before the tax filing deadline. If they don’t, it would be a tax filing mistake to claim the Child Tax Credit.

For parents, the primary requirement is income-based. If your income is below $200,000 as a single filer or $400,000 for joint filers, you may be eligible to claim the full credit. Those who earn above that amount (considerably higher than the average salary in the U.S.) may be eligible for a lesser amount.

Recommended: Credit Monitoring

The Takeaway

The income tax child credit for 2024 could be a valuable tax break if you’re raising one or more children. Understanding how the Child Tax Credit works, when you can claim it, and what it’s worth can help you maximize your potential tax savings. Keeping on top of your potential tax credits is an important aspect of tracking your finances and managing your money well.

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.

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FAQ

How does the Child Tax Credit work?

The Child Tax Credit works by reducing your tax liability on a dollar-for-dollar basis. The Additional Child Tax Credit is the refundable part of the Child Tax Credit. The amount of the credit you qualify for depends on your filing status and household income.

Why am I only getting $2000 for the Child Tax Credit?

The Child Tax Credit maximum is $2,000 per qualifying child. If you file your tax return with just one qualifying child listed, the most you could claim for the credit is $2,000.

What is the $3600 Child Tax Credit?

The $3,600 Child Tax Credit was a temporary benefit granted to eligible families under the American Rescue Act. For 2021, families were eligible to receive up to $3,600 in Child Tax Credit for each qualifying child under 6 and $3,000 for each qualifying child under 18. The purpose of the expanded credit was to provide financial relief to households that were struggling as a result of the COVID-19 pandemic.

How much is the 2024 Child Tax Credit?

The 2024 Child Tax Credit allows a credit of up to $2,000 per qualifying child. The Additional Child Tax Credit, which is the refundable portion of the Child Tax Credit, is worth up to $1,700 per qualifying child.

How much is each dependent worth on taxes in 2024?

If you’re filing taxes with one or more qualifying children listed as dependents, you could claim a Child Tax Credit worth up to $2,000 per child. You could also claim the Additional Child Tax Credit, which is worth up to $1,700 per child. Eligibility is based on several factors, including your child’s age, your income, and your tax filing status.

Is the Child Tax Credit 2024 true or false?

The Child Tax Credit is a legitimate tax break that families with qualifying children may claim for the 2024 tax year. Whether you can claim the full amount of the credit hinges on your income and filing status, as the credit begins to phase out once your income reaches a certain threshold.

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Photo credit: iStock/AsiaVision

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.

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.

SORL-Q125-015

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