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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.

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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.

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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.

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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.

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As long as people rely on indoor plumbing, we will need experienced, skilled plumbers to install, repair, and maintain the systems we use every day. Being a plumber is not only an in-demand job but one that generally pays well. A plumber’s average annual salary in the U.S. is $74,253, according to ZipRecruiter.

A plumber’s expertise spans from diagnosing and repairing leaks in people’s homes to planning commercial piping and municipal sewer systems.

If you enjoy working with both your hands and machinery, have strong attention to detail, and are a good problem-solver, being a plumber might be the right job for you. Read on to learn more about how much plumbers make per hour, how salaries vary by region, and other factors to consider before you decide to pursue a career in plumbing.

What Are Plumbers?

Plumbers are skilled professionals who install, maintain, and repair plumbing systems that supply residential and commercial properties with water and gas and carry away waste. Plumbers play a crucial role in ensuring these systems function properly and efficiently. Their expertise applies both to municipal sewers and single-home septic systems.

Plumbers diagnose and fix various issues related to plumbing systems, such as leaks, clogs, and malfunctions in pipes or fixtures. They also perform routine maintenance to prevent problems and keep plumbing systems in good working order.

In some cases, plumbers are involved in the initial design and planning stages of construction or renovation projects, ensuring that plumbing systems are installed efficiently and meet local building codes and regulations. Some plumbers may specialize in specific areas, such as commercial plumbing, industrial plumbing, or specific types of systems like hydronic heating.

How Much Does a Plumber Make Per Year Starting Out?

A plumber can make a good entry-level salary that continues to increase over time. For example, plumbers with less than one year of experience earn, on average, $50,129, while the average salary for a plumber with more than 10 years of experience is $72,740 per year.

💡 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 Plumber?

Plumbers can earn either an hourly rate or an annual salary, depending on the type of work they do. How much a plumber makes per hour can range anywhere from around $18 to $53. The average hourly pay for a licensed plumber in the U. S. as of January 2024 is $35.70 an hour, per ZipRecruiter. The current national average for how much a plumber makes a year is $74,253.

How much money a plumber makes can vary by location. What follows is a breakdown of how much plumbers make a year (on average) by state.

Average Plumber Salary by State for 2024 (Highest to Lowest)
State	Average Annual Salary
Oregon	$71,663
Alaska	$71,436
North Dakota	$71,330
Massachusetts	$70,713
Hawaii	$69,839
Washington	$68,826
Nevada	$67,543
South Dakota	$67,414
Colorado	$66,891
Rhode Island	$66,377
Mississippi	$64,771
New York	$64,056
Delaware	$62,943
Vermont	$62,526
Virginia	$62,057
Illinois	$61,927
Maryland	$60,963
Kansas	$59,681
California	$59,358
Missouri	$59,263
South Carolina	$58,742
Pennsylvania	$58,681
New Jersey	$58,636
Wisconsin	$58,089
Maine	$57,993
Oklahoma	$57,796
North Carolina	$57,529
New Hampshire	$57,054
Idaho	$56,766
Texas	$56,370
Wyoming	$56,169
Minnesota	$56,128
Kentucky	$55,885
New Mexico	$55,788
Indiana	$55,443
Michigan	$55,381
Ohio	$54,552
Arizona	$54,296
Connecticut	$54,141
Iowa	$53,673
Montana	$53,478
Arkansas	$52,843
Alabama	$52,810
Utah	$52,129
Tennessee	$52,129
Georgia	$49,197
Louisiana	$49,005
West Virginia	$45,320
Florida	$43,539

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Plumber Job Considerations for Pay & Benefits

Plumbing has become a popular trade because of the various perks and financial advantages that come along with the job. First, the average starting salary of $50,129 is higher than in many industries. Plus, some plumbers are union members, which means that their salaries are protected by a contract and they may receive attractive health insurance and retirement packages.

Learning to be a plumber is also less demanding than obtaining a four-year bachelor’s degree. You can study to be a plumber by attending trade school or technical college. Usually, it takes anywhere between four and 24 months to complete your schooling.

Furthermore, plumbers-in-training typically can become apprentices while they’re completing their education. Apprenticeships let you work and learn simultaneously, meaning you’ll earn competitive pay while you work toward certification. For these reasons, plumbers can often finish their education with little to no student loans.

Plumbing is also a steady profession that will likely always be in demand. Even during economic downturns, residential and commercial buildings won’t stop needing running water and working toilets.

Lastly, plumbers can advance through the ranks to increase their pay and move into new roles. For example, attaining journeyman status often leads to a significant bump in salary. On average, journeyman plumbers earn $64,520, a $14,391 increase over the average starting salary.

Likewise, you could become a plumbing engineer or a superintendent to manage municipal jobs. Many plumbers also start their own businesses, which could lead to a job that pays $100,000 or more.


💡 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 a Plumber Salary

As with any profession, there are both advantages and disadvantages to being a plumber. Carefully considering each can assist you in determining if this is the right career for you.

Pros of Being a Plumber

Becoming a plumber can offer several attractive advantages:

•   Job security Plumbing is an essential service that is always in demand. Even during an economic recession, people will always need plumbing services.

•   Good pay Plumbers are well-compensated for their expertise from the get-go. With experience and expertise, plumbers can earn a substantial income. Plus, less need for student loans means debt likely won’t erode your earnings.

•   Daily exercise Plumbing work often involves physical tasks such as lifting, bending, and carrying equipment. This aspect of the job provides plumbers with regular physical activity, contributing to a healthier lifestyle.

•   Promotion and business ownership opportunities As a plumber gains experience and expertise, they can ascend the ranks (such as moving from journeyman to master plumber) to increase their pay and access new projects. Additionally, some plumbers choose to start their own businesses, which can be highly profitable and offer independence.

•   Variety during work Plumbers typically encounter a wide range of challenges and tasks on the job. For example, you might replace piping one day and fix a host of leaky faucets the next. This variety can keep the work exciting and engaging.

Recommended: 30 Low-Stress Jobs for Introverts Without a Degree

Cons of Being a Plumber

However, plumbers also face the following challenges:

•   Physically taxing Plumbing work often requires physical strength and endurance. Plumbers may need to lift heavy equipment, crawl into tight spaces, and crouch for hours on end. These repeated tasks can lead to strain or fatigue.

•   Lack of routine Plumbing work can be less predictable than some office jobs that follow a set schedule. The unpredictability can be stressful for those who want the same pattern in their work every day or week.

•   Working at all hours Plumbing issues can arise at any time, including nights, weekends, and holidays. Plumbers may need to be on-call or work during off-hours to address urgent situations. These situations impact work-life balance and require a degree of flexibility in one’s schedule.

•   Risk of injury Working with plumbing systems and tools can pose certain risks. Plumbers may be exposed to sharp objects, hot surfaces, chemicals, and falling pipes. Additionally, working in confined spaces or at heights can increase the risk of accidents or injuries.

•   High pressure environment Addressing leaking sewage and malfunctioning water systems can be stressful and clients may be stressed and difficult to work with. Furthermore, plumbers must navigate unpredictable environments and situations, necessitating the ability to remain composed even in hazardous conditions.

Recommended: 11 Work-From-Home Jobs Great for Retirees

The Takeaway

Plumbers make a desirable starting salary with plenty of room to advance their careers. They can enjoy the satisfaction of helping others with an essential aspect of life and rest in the fact that the profession isn’t going anywhere.

However, plumbing can impose physical wear and tear, cause injuries, and require work in extreme conditions. The tradeoff for low or no student debt and consistent, lucrative work is the tough physical labor and the possibility of working late hours.

Even after weighing the potential cons, however, you may decide that a trade profession such as plumbing can help you further your professional and financial goals.

FAQ

What is the highest paying plumber job?

The highest paying plumber job is a plumbing engineer, which requires engineering knowledge and project management skills. This position can pay as much as $112,000 annually.

Do Plumbers make 100k a year?

Plumbers at the highest levels of the profession can make $100,000 per year. Specifically, plumbing engineers (who design plumbing systems for private, public, or commercial buildings) and plumbers who own their own companies can potentially earn six figures a year.

How much do plumbers make starting out?

Plumbers with less than one year of experience earn, on average, $50,129 per year.

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Photo credit: iStock/Yaroslav Astakhov

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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According to the IRS, approximately 90% of tax refunds are issued in under 21 days. However, some tax returns require more attention, which can lengthen the process and push back your tax refund date.

The deadline for filing 2023 taxes is Monday April 15, 2024. If you request an extension, the deadline is Tuesday October 15, 2024. Keep reading to learn more about deadlines for 2023 tax returns, and how to track the progress of your tax refund.

Tax Refund Process, Explained

The process begins when you submit your return to the IRS. The IRS then breaks down the process into three steps: return received, refund approved, and refund sent.

If you file electronically, you should receive an email confirming that your return was received within 24 hours. Paper return filers will have to wait longer.

After the IRS processes your return and confirms the information, your refund will be approved and a tax refund date will be issued. This takes about 3 weeks for electronic filers. Taxpayers who file a paper return by mail will wait at least four weeks.

The last step is when your tax refund is sent out. For filers who provide direct deposit information, your refund should appear in your account almost immediately. Taxpayers who do not include their bank information will have to wait for a paper check to arrive by mail.

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

Factors Impacting How Long a Tax Refund Takes

Several factors can affect the timing of your tax refund — including your financial organization skills and the accuracy of the information you provide. If you don’t receive your tax refund within 21 days, your return is likely being manually reviewed due to a mistake or complication.

The following factors can also affect your 2023 tax refund date.

How Early You File

Filing early is essential if you want to get your tax refund early. Ideally, you should be able to compile all your tax documents by the end of January. Forms such as W-2s, 1099-Rs, 1098-Es, and 1098s will provide the income information you need to file.

Filing early means submitting your tax return before the official deadline of Monday April 15, 2024, for your 2023 tax return. Since many taxpayers file their returns on the official deadline, filing early allows you to beat the rush.

Similarly, if you requested an extension, filing “early” means before the October deadline. The deadline for 2023 returns is Tuesday October 15, 2024. However, taxpayers can file anytime before October. This way, you’ll avoid the bottleneck that inevitably occurs on the deadline itself.

If You Are Claiming Certain Credits

Claiming certain credits on your tax return can push back your 2023 tax refund date. These include:

•   Earned Income Tax Credit

•   Additional Child Tax Credit

•   Injured Spouse Allocation

•   Child Tax Credit, if you claim the wrong amount

E-filed or Sent By Mail

Whether you do your own taxes by hand, use software to assist you, or hire an accountant or tax preparer, it’s best to opt for electronic filing. E-filed taxes are accepted by the IRS within a day or two, while mailed paper returns can take weeks to arrive.

Existing Government Debt

Some taxpayers owe the federal or state government due to unpaid child support, taxes from years past, or student loan payments. Taxpayers facing these issues will receive a reduced refund or none at all, and any refund can take longer than the standard 21-day timeframe after e-filing.

How to Track the Progress of Your Refund

If you’re like most taxpayers, it won’t take long until you start wondering where their tax refund is. Getting hold of a live IRS representative by phone is possible but challenging during tax season.

Fortunately, the IRS’s Refund Status tool provides updates on your 2024 tax refund date just 24 hours after you submit your 2023 taxes electronically.

The tool shows taxpayers one of three statuses: return received, refund approved, or refund sent. After the refund is approved, the IRS will give you a tax refund date. If you mailed your return, you’ll have to wait about four weeks for the tool to provide information on your refund.

What to Do Once Your Refund Arrives

How should I spend my tax refund? It’s a perennial question for taxpayers. Top choices include paying down debt, saving for a vacation, and investing. The important thing is to plan ahead so you don’t spend it all on frivolous or impulsive purchases.

One popular option is to treat your refund like regular income. You can budget the majority of the money for “needs,” by setting up an emergency fund or paying down your mortgage. The rest can be set aside for “wants,” such as a year’s worth of dining out.

An online budget planner can help you decide the appropriate percentages for needs and wants. Likewise, a debt pay off planner can show you how much sooner you’ll be debt-free after depositing some or all of your refund.


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

What Happens If You Can’t File Income Taxes by the Deadline

Each year, taxpayers unable to file their return on time (usually mid April) can ask the IRS for an extension. The IRS’s Free File tool allows you to electronically submit a request to change your filing deadline to October.

Be aware that taxpayers who want an extension must make an educated guess about the taxes they owe and pay the IRS that amount.

How to File Form 4868 for a Tax Return Extension

Another way to file for an extension is to complete form 4868. You can submit the form electronically or by mail.

The Takeaway

While you cannot predict your exact tax refund date, filing electronically early in the tax season can help you get your refund faster. The IRS sends out most refunds within 21 days of receiving the return. The deadline for filing 2023 taxes is Monday April 15, 2024. If you request an extension, the deadline for filing a 2023 tax return is Tuesday October 15, 2024.

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

When should I expect my 2024 tax refund?

Typically, you can expect to receive your refund within 21 days of filing your return. However, mistakes and special tax credits can slow down the process.

What days does the IRS deposit refunds in 2024?

The IRS deposits refunds Monday through Friday, except for holidays.

How long does it take the IRS to approve a refund in 2024?

Most refunds are issued in 21 days or less from when the IRS accepts your return. However, if there are issues with the return, it may take longer.

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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.

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.

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

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.

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An individual preparing to file a federal tax return will want to think back on gifts given in the prior year. If a gift exceeds a certain threshold, the IRS wants it reported by Tax Day — but only extremely wealthy taxpayers will ever have to pay taxes on their lifetime of gifts.

In 2023, you could have made gifts worth up to $17,000 per recipient without reducing your lifetime exemption, being required to report the gift to the IRS, or paying federal gift tax.

Gifts over that value count toward the lifetime gift and estate tax exemption of $12.92 million (per spouse, if married), rising even higher in 2024.

Recommended: Does Net Worth Include Home Equity?

What Is a Gift and What Is Not?

According to the IRS, gift tax is applicable when property is transferred from one person to another, with the giver receiving nothing, or less than full value, in return.
The tax applies even when the donor doesn’t consider the transfer a gift.

The IRS defines the federal gift tax broadly, including when the gift is monetary or a physical property, or a donor allowing someone to stay in their property or earn income from the property without getting something equal in return.

Someone who makes an interest-free or reduced-interest loan may also be seen as giving a gift.

When you make a gift other than cash, you must assess the property’s fair market value: the price a willing buyer would pay in the open market. If you’re buying a house from a family member, you might ask for a gift of equity.

Generally, the IRS does not consider these taxable gifts:

•   Gifts that are not more than the annual exclusion for the calendar year

•   Another person’s tuition, as long as payments are made directly to the educational institution

•   Another person’s medical expenses, as long as the payments are made directly to medical service providers

•   Gifts to a spouse who is a U.S. citizen

•   Gifts to a political organization

•   Gifts to IRS-approved charities

💡 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 a Gift Tax Return?

Par for the course with the IRS, there’s a form involved if you made a gift exceeding the annual limit: Form 709. It is to be filled out the year after the giving of the gift. So if a relevant gift was given in 2022, the information belongs on the 2023 tax return form.

Information on this form lets the IRS know that a gift has been given that falls within the scope of the gift tax.

Married couples may “split” gifts and essentially double their annual exclusion. If you are married and your spouse consented, you could have given up to $34,000 to an unlimited number of individuals in 2023 with no gift or estate tax consequences. For 2024, that amount rises to $36,000.

Spouses who split gifts always have to file Form 709, even when no taxable gift was incurred.

The gift tax is tied to the estate tax. As of tax year 2023, you can leave up to $12.92 million to relatives or friends free of any federal estate tax. If you’re married, your spouse is entitled to a separate $12.92 million exemption. Clearly this is the province of high earners.

Who Files the Gift Tax Return: the Giver or the Recipient?

Taxes typically fall on the donor, not the recipient.

There may be special circumstances when the recipient will agree to pay the tax. If you make this agreement, the IRS suggests that you contact your tax professional for guidance on how to proceed.

Annual Exclusion for 2023

You could have made an unlimited number of tax-free gifts in 2023 as long as no one received more than $17,000.

If you held back, just know that you can make an unlimited number of tax-free gifts of up to $18,000 in 2024, when the lifetime gift tax exemption increases to $13.61 million per person.

When Do You Need to File a Gift Tax Return?

This follows the regular tax filing deadline, which is April 15 in 2024.

If you need a gift tax return extension when you’re not filing a tax extension for your general income tax return, file Form 8892. This will typically give you a six-month extension.

How to File a Gift Tax Return

First, you use the federal gift tax return Form 709 that’s available online through the IRS. The IRS also provides gift tax return instructions. The agency includes determining if you need to file a form and, if so, for what gifts.

You may need to decide whether you and a spouse will split the gift taxes.

Form 709 is complicated. Whether you’re a seasoned tax filer or filing taxes for the first time, a tax pro could be of great help.

Recommended: How Long Does It Take for the IRS to Mail a Refund?

What Happens If I Don’t File a Gift Tax Return?

You could be fined by the IRS, and the taxing authority is becoming more vigilant in levying these failure-to-pay penalties. The fine equals 0.5% for every month that the tax isn’t paid, based on the amount of the gift. So, as time goes by, the fine gets bigger. If the IRS determines that fraud was involved, the fine can go up to 5%.

If this oversight isn’t discovered in a person’s lifetime, the estate could be assessed the accumulated fine.

How Long Should You Keep Gift Tax Returns?

Keep them indefinitely! They will likely be needed by the executor of your estate.


💡 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

A gift tax return might inspire dread, but it’s simply a way for the IRS to track eligible gifts made in a year and over a lifetime. Most people will never pay gift taxes.
Want to keep tabs on gifts and track all of your money in one place? A money tracker app may be able to help.

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 triggers a gift tax return?

The main trigger is exceeding the annual limit of what you can give without taxation. The annual amount per donee is $17,000 in 2023 and $18,000 in 2024.

Do I have to file a gift tax return if I receive a gift?

In general, it’s the donor of the gift, not the recipient, who pays the tax.

What happens if I don’t file a gift tax return?

The IRS may levy fines. If it doesn’t happen in your lifetime, the situation may be uncovered by the IRS after your death, and fines can be levied on the estate.

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Photo credit: iStock/VioletaStoimenova

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.

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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