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YouTube is a lucrative platform for both marketers and content creators. YouTube had 2.5 billion unique monthly visitors and 30 billion visits per month in 2024 — more than Amazon, Facebook, Instagram, or Wikipedia — making it an advertiser’s nirvana. Talented influencers flock to YouTube to create video channels, and many earn around $60,000 per year on the platform from advertisers. However, they generally need at least 4,000 hours of unique content and at least 1,000 subscribers to do so.

Here’s a closer look at the average payouts for YouTubers and the heftier payouts for celebrity influencers with outstanding content.

How Much Do YouTubers Make on Average in 2025?

The salary and career website ZipRecruiter reports that the average YouTuber made around $62,052 per year as of January 2025. That’s competitive pay for an entry-level salary. The highest salaries for YouTubers are around $89,000, while the lowest are around $48,500. Interestingly, the range between higher- and lower-paid YouTubers is only around $8,000, implying that experience does not lead to significant advancement.

ZipRecruiter also finds 10 cities where the typical salary for a YouTube Channel job is above the national average. The leading city is Nome, Alaska (average salary $76,975), followed by Berkeley, California ($75,979), Sitka, Alaska ($74,753), and San Francisco ($73,108). Although YouTube salaries are higher in Alaska and California, the cost of living in both states is also high, which might cancel out any salary gains.

Top 10 YouTubers for 2025

The following is a list of the 10 most-subscribed YouTubers along with a brief overview of the reasons for their online appeal. The data were sourced from Search Engine Journal, an online news source for the SEO and marketing community.

1. MrBeast

Subscribers: 351 million

MrBeast, aka Jimmy Donaldson, is a young YouTuber and philanthropist originally from Greenville, North Carolina. He began posting videos in 2013, when he was just 13 years old. He went viral in 2017 with his “counting to 100,000” video. His videos include survival challenges, vlogs, and philanthropic content. Other than the MrBeast channel, Donaldson also runs Beast Reacts, MrBeast Gaming, MrBeast 2, and a philanthropy channel called Beast Philanthropy.

2. Like Nastya

Subscribers: 125 million

PewDiePie, or Felix Arvid Ulf Kjellberg, is a Swedish gaming YouTuber. He registered his channel “PewDiePie” in 2010 and primarily posted videos of himself playing horror and action video games. His channel was one of the fastest-growing channels in 2012 and 2013, and it soon diversified to include vlogs, comedy, shows, music videos, and fundraising. Some of Kiellberg’s content became controversial, and after 2019, Kjellberg semi-retired and uploaded less consistently. In 2016, he was named one of the world’s most influential people by Time magazine.

3. PewDiePie

Subscribers: 110 million

PewDiePie, or Felix Arvid Ulf Kjellberg, is a Swedish gaming YouTuber. He registered his channel “PewDiePie” in 2010 and primarily posted videos of himself playing horror and action video games. His channel was one of the fastest-growing channels in 2012 and 2013, and it soon diversified to include vlogs, comedy, shows, music videos, and fundraising. Some of Kiellberg’s content became controversial, and after 2019, Kjellberg semi-retired and uploaded less consistently. In 2016, he was named one of the world’s most influential people by Time magazine.

4. Alan Chikin Chow

Subscribers: 76.2 million

Alan Chikin Chow is an actor, influencer, and the most-watched YouTube Shorts creator. According to Variety, his content gets 1 billion views in any given month. Chow is also the creator of “Alan’s Universe,” a popular drama about love and friendship that routinely gets more than 500 million views. In 2024, his YouTube channel ranked among the platform’s 50 most-subscribed channels globally.

5. Justin Bieber

Subscribers: 74.7 million

Justin Bieber is known, first and foremost, as a Canadian musician. His original YouTube channel was called Kidrauhl — so named because his father called himself “Lordrauhl.” Bieber posted videos of his songs on Kidrauhl and became famous through the platform. Bieber’s channel Kidrauhl was renamed “Justin Bieber” in 2017.

6. EminemMusic

Subscribers: 64 million

Marshall Bruce Mathers III, known as Eminem, is an American rapper, songwriter, actor, and record producer. His debut album, “Infinite,” was released in 1996. Rolling Stone has included him in its lists of the 100 Greatest Artists of All Time and the 100 Greatest Songwriters of All Time. In November 2022, Eminem was inducted into the Rock and Roll Hall of Fame. His YouTube channel features his music videos and is called EminemMusic.

7. Mark Rober

Subscribers: 63.5 million

No stranger to stunts, Mark Rober has amassed a following on YouTube thanks in large part to a slew of attention-grabbing projects. Examples include building the world’s largest Nerf gun and Super Soaker, glitter bombing porch pirates, and creating an obstacle course for squirrels. That he’s able to pull off such impressive feats should come as no surprise to his millions of subscribers, who are likely already familiar with Rober’s background as a NASA engineer.

8. Fede Vigevani

Subscribers: 63.1 million

Fede Vigevani, also known as Fede, is a Uruguayan musician and YouTuber who’s now based in Medico City. He was part of the YouTube group Dosogas before going solo in 2018. In addition to music, his popular YouTube channel is filled with lighthearted content known for its humor, pranks, and challenges.

9. Taylor Swift

Subscribers: 60.6 million

Taylor Alison Swift is an American singer-songwriter. She was born in West Reading, Pennsylvania, but moved to Nashville at age 14. Her 2006 debut album “Taylor Swift” made her the first female country artist to write a U.S. platinum-certified debut album. Swift is one of the best-selling musicians in history and the only person to have seven albums open with over one million copies sold in the United States. Swift has been named in Rolling Stone’s 100 Greatest Songwriters of All Time. She has also been named Artist of the Decade and Woman of the Decade and is an advocate for artists’ rights and women’s empowerment.

10. Alejo Igoa

Subscribers: 58.7 million

Alejo Igoa is an Argentinian actor, model, and YouTuber whose channel features a heavy rotation of challenges, comedy skits, and vlogs that occasionally include his family and friends. He’s also popular on TikTok, where he often posts dance and lip-sync videos, and on Instagram, where he shares his modeling photos and updates on his life.

How Much Money Does a YouTuber Make Per View?

YouTubers make money from advertisers who place ads with their videos. YouTubers are paid based on how many of their viewers watch the ads that accompany their content. Even if a video gets thousands of views, if no one watches or clicks on the ads, the YouTuber won’t make any money. For a YouTuber to be compensated, a viewer must either click an ad or watch the video ad in full. According to data from Influencer Marketing Hub, the average YouTube channel receives around $0.018 per view.

Recommended: 25 Easy Jobs That Make a Lot of Money With Little Work Without College

How Much Do YouTubers Make Per 1,000 Views?

A YouTuber earns roughly $18 per 1,000 ad views. YouTuber earnings vary depending on whether a video is short- or long-form. YouTubers’ reported income per 1,000 views range between $1.61 and $29.30 for long-form videos. For short-form videos, the payouts were between $0.01 to $0.06 per 1,000 views.

How Much Does a YouTuber Make With 1 Million Subscribers?

The money made on YouTube may not be consistent, particularly for creators who don’t upload new content regularly to ensure a growing following. One YouTuber with 1 million subscribers made between $14,600 and $54,600 per month.

Recommended: 25 High-Paying Trade Jobs in Demand

How Much Ad Revenue Does YouTube Pay Content Creators?

According to Influencer Marketing Hub, creators earn about 55% of the revenue on their channels — for every $100 an advertiser pays, Google pays $55 to the creator. It’s unlikely that a creator will make much money until there is significant traffic to the site and viewers click on ads.

There are some ads that pay per thousand views, but for the view to be counted for payment, a viewer must watch an ad for at least 30 seconds (or half the ad for a very short video). If viewers do click on or view ads for long enough to earn income, the creator shares any advertising revenue with YouTube. Creators only get paid once their AdSense account reaches $100.

Whether you’re raking in millions of subscribers or just starting out, a spending app can help you create a budget, organize spending, and manage bill paying.

The Takeaway

With 2.5 billion unique monthly visitors and 30 billion visits per month, YouTube is a go-to platform for entertainment, education, and marketing. Many YouTubers and celebrities reap millions from ad revenue by posting music videos, gaming videos, entertainment, and educational content. However, for the less famous, it is possible to earn $60,000 to $80,000 a year, which is a competitive salary. YouTubers need traction and a significant following. Pay-outs are typically based on ad views and are made through Google AdSense.

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.

FAQ

How much does a YouTuber make a year?

ZipRecruiter reports that the average YouTuber makes around $62,052 per year as of January 2025. The highest salaries are around $89,000, while the lowest are around $48,500.

How much does a YouTuber with 1 million subscribers make?

One YouTuber with about 1 million subscribers made between $14,600 and $54,600 per month. However, the money made on YouTube may not be consistent, particularly for creators who don’t upload new content regularly to ensure a growing following.

Do YouTubers get paid monthly?

YouTube uses an algorithm created in AdSense to decide when and how much to pay content creators. AdSense is owned by Google. Vloggers that gain enough traction to warrant earnings are paid monthly via direct deposit.

Photo credit: iStock/Youngoldman

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SORL-Q125-066

When summer rolls around, many college students decide to take a break from their academic courses and take on a summer job. Working isn’t just a way to earn some extra money. In some cases, it could also be a chance to gain valuable professional experience.

Of course, not all jobs are created equal. Let’s take a look at what to consider when seeking a summer gig and three job ideas that may be well suited for college students.

Summer Job Considerations

Ideally, a college student’s summer job will mesh with their skills, passions, and career goals. So when brainstorming jobs you might want to go after, think about the unique talents, goals, and experiences you bring to the table. For example, a student athlete can make money by offering personal training sessions, mentoring younger athletes, or working as a camp counselor.

Another strategy is to zero in on gigs that are available for professionals in your field of study. For example, if you’re on the education track, you may want to look into common side jobs for teachers. Which ones could you qualify for now? Possibilities may include being an online tutor or test scorer or doing freelance writing, editing, or proofreading.

You could also focus on side hustles with low startup costs, like building websites for people, making and selling handmade items, creating a fee-based online course, or delivering food and groceries.

When to Start Applying for Summer Jobs in College

 
In general, the sooner you apply for summer work, the better. This is especially true if you’re planning to live and work in fields or areas where the job market is more competitive. Some employers start posting summer job openings in the winter to give them time to find the best candidates. Even if an employer doesn’t start the process that early, they’ll still need time to collect and review applications, conduct interviews, hire employees, and get their staff ready to begin work by summer.

Pros and Cons of a Summer Job

While the idea of relaxing all summer may be appealing, having a job comes with its share of benefits. Working is an excellent opportunity to build a strong resume, because you can pick up hands-on, relevant experience and sharpen essential soft skills like communication and problem-solving. It’s also a chance to discover more about your working style, preferences, and strengths and find out if you like working in a particular industry or field before committing more fully to it.

A summer job is a good way to expand your professional network, which can come in handy when you graduate and start looking for full-time employment. Managers and co-workers from your seasonal gig can provide references or even keep you in mind if a permanent position opens up at their company.

Plus, the money you earn from a summer gig can help be put in savings or used to pay for school and living expenses. A spending app can help you to more effectively manage your finances.

Depending on your situation, there are some potential drawbacks to working in between school years. You’ll likely have less time for other activities, such as hanging out with your friends or relaxing. You may not also be able to take summer classes, which could help you graduate more quickly.

​​Recommended: Jobs That Pay for Your College Degree

Tips to Finding a Summer Job

If you want to work in the summer, there are plenty of jobs available — especially if you know where to look. Colleges often post listings of available jobs on or near campus, so be sure to check in with your school’s career services center.

It’s also a smart idea to tap into your network, including professors, parents, mentors, and former employers. They may know of an open role or suggest people you can contact.

Online job sites are another good source of job leads. Many allow you to search for openings by industry, location, employment type, and experience level.

Top 3 Summer Jobs Ideas for College Students

Some summer jobs are especially well suited for college students. They can be done in the short term, provide an opportunity for students to apply what they’ve learned in school, or offer some control over schedule and pay rate. Three jobs to consider: online tutoring, freelance web designer, and retail sales associate. Here’s what to know about each.

Online Tutoring

An online tutor typically helps individual students understand their lessons, assists them with homework assignments, and provides extra work as needed. Some tutors prefer to rely on word of mouth for clients, while others offer their services through an online tutoring website.

In general, online tutors set their own hours and rate. The average starting rate is around $18-$21 per hour, according to Care.com, but that amount can increase significantly based on experience, grade level, subject matter, and other factors.

If you apply with an online tutoring site, you will likely need to provide information about your educational and work history. Educational requirements can vary widely by platform, so be sure to research what’s needed. Background checks are typically part of the process, and the company may also want to know the type of computer you plan on using and whether you have high-speed internet access.

Pros

•   Flexibility — you will likely be able to control when and where you work.

•   The money can be good for a side gig.

•   You can make a real difference in students’ lives.

Cons

•   Internet issues and technical glitches can disrupt your tutoring.

•   Working with students in different time zones may be challenging.

•   Many online platforms have strict policies against canceling tutoring times.

Freelance Web Designer

Developing and managing websites for clients can be a good fit for college students, especially those who prefer to work independently or are looking for jobs for introverts. You can find customers by listing your profile on websites for freelance designers or through recommendations from family, friends, and colleagues.

On average, a web designer can charge anywhere from $30 to $80 per hour, depending on the complexity of the project. Some technical skills are typically required — HTML, JavaScript, and CSS, for example — and it’s a good idea to stay up to date on the latest tools and technologies.

Pros

•   You’re your own boss, which means you can determine when and where you work.

•   The hourly rate is higher than other summer jobs.

•   You can work on a variety of interesting projects.

Cons

•   The work typically requires you to sit for long periods of time.

•   You’ll need to keep up on new developments, which may be easier if you’re already studying web design in school.

•   You may need to juggle multiple projects at once.

Retail Sales Associate

In many ways, a retail sales job can be an excellent summer gig. Often, the work is fairly straightforward, work hours are scheduled, on-the-job training is usually provided, and you usually don’t need a college degree. Students with a friendly, upbeat attitude and strong customer service skills may find a sales job particularly rewarding.

The average hourly rate of a salesperson is around $15, but this can vary based on your company, the store’s location, and how much experience you have. Some companies also offer extra perks, such as employee discounts.

Pros

•   Work is often indoors and may not be as physically demanding as other jobs.

•   Having a work schedule means you know when you’ll have free time.

•   You have opportunities to develop your people skills.

Cons

•   Your take-home pay can fluctuate if you earn a commission.

•   Dealing with difficult customers can be stressful.

•   Depending on where you work, you may need to be on your feet for several hours.

Recommended: 10 Money Management Tips for College Students

The Takeaway

Though there are ways to make money during winter break, the summer is typically when many students get a short-term job. A summer gig allows you to earn extra cash and potentially gain valuable professional experience, especially if you’ll be working in the field you’re studying. Your college career services center, professors, family, friends, and former employers may be able to provide you with potential leads.

Three types of jobs you may want to explore are online tutoring, web design, and retail sales. Online tutoring and retail sales typically allows you more chances to interact with people, but web design tends to command a higher hourly rate.

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.

FAQ

What should college students do with their summer?

As a college student, you can get a job or internship, go on a vacation with friends or family, volunteer at a non-profit agency of your choice, or go to summer school to potentially graduate more quickly.

Where do most college students work in the summer?

Whether you’re planning to work outdoors, in a store or restaurant, or for a company, there is no shortage of summer job opportunities for college students. To help you narrow down your options, look for roles that match your interests and skills.

How can college students make money over the summer?

Many summer jobs pay by the hour, and that rate might depend on factors such as location, the type of work, and your experience and skills.

Photo credit: iStock/AndreyPopov

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.

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SORL-Q125-038

Salary will always be an important factor in any career decision, whether you’re looking for a new job or choosing which offer to accept. And yet, few questions in the job application process are more uncomfortable than the basic What is your desired salary?

Not sure what to put for a desired salary on a job application? Keep reading for some helpful insights and templated responses.

How to Answer Desired Salary on an Online Application

If you’re not sure what to put for desired salary on an application, you likely need to do some research and then think carefully about your answer. It’s true that listing too high a salary can immediately eliminate a candidate if the company can not afford to pay that much. But it’s equally true that lowballing can impact a candidate financially for years.

When deciding what to put for desired salary on a job application, it’s important that candidates don’t simply list the number they want to earn. A salary number should be based heavily on research. Spend time looking into the cost of living in the area, as well as what typical salaries look like for the role, seniority level, and industry you’re applying for. Education level, years of work experience, and special skills should also be taken into account.

When completing an online job application, it’s common for the candidate to be asked if the salary listed is negotiable. This is usually done in a checkbox format, but if you are open to negotiation and don’t see an option to highlight that fact, there is usually a notes section where you can mention your flexibility.

Recommended: What Are the Average Monthly Expenses for One Person?

How to Answer the Desired Salary Question in Interviews

Salary requirements can come up at any stage of the application process, including during the interview. To avoid feeling put on the spot, it’s smart to have an answer ready to go beforehand. As nerve-racking as interviews can be, they’re a great time to discuss salary with a potential employer to make sure both parties are on the same page.

Again, a salary number should be backed by careful consideration and research. Be ready to share the basis for the number you choose. If you’re flexible on salary, that can also be expressed here. Many candidates factor benefits, title, signing bonus, growth potential, and other elements into their decision to accept a job.

If a candidate is pitching a number higher than the employer’s budget, but they’re willing to accept a lower salary if they can work from home three days a week, then they should share that during the job interview.

How to Answer the Desired Salary Question in Emails

Some employers may not ask about a candidate’s salary requirements until after an interview or two, and then do so over email. When it comes to figuring out what to put for the minimum salary desired, many candidates list their current salary or a number slightly higher than that to increase their disposable income.

Some employers may ask for a range. Here, it’s important for candidates to choose a minimum salary they feel is worthwhile enough for them to continue the application process.

Candidates may include a note in the email about salary being negotiable if that is true. But if the candidate really does have a minimum figure they need to consider the job offer, they should make that clear in writing. We all have different expenses and budgets that impact how much we need to make. A spending app can help candidates determine what salary they need in order to pay all their bills.

Recommended: The Most Rewarding Jobs in America

Declaring a Salary by Email: Templates

If you’re feeling uncomfortable about salary negotiations and you’re not sure what to put for the minimum salary desired, it can help to practice writing it out. You can use these email templates as a script for in-person or phone conversations, depending on how either party brings up salary.

•   Template 1: Salary Range. “Based on market research and cost of living in our area, I’m looking for a new role that will pay in the $80,000 to $90,000 range. I am flexible and open to negotiation, but I can only make a move for a salary in that range.”

•   Template 2: Minimum Salary. “The average salary for my role in the greater Los Angeles area is $65,000. I am currently looking for roles that can accommodate a salary of $65,000 or more.”

•   Template 3: Flexibility. “With ten years of industry experience and a recently earned MBA, I am looking to make a move to a more senior position. Compensation is important to me and I would like to make between $100,000 and $135,000. However, I am also looking for a role that provides schedule flexibility and would be willing to discuss a lower salary in exchange for a minimum of three remote work days a week.”

These templates give candidates an idea of how to get started. But it’s important to customize and flesh them out based on your own research.

When to Discuss Salary

Once you decide how much to quote for your minimum desired salary, you also need to be prepared to discuss it. There is really no wrong time to discuss salary during the job application process. While many candidates wait for the employer to bring it up, it is possible for the candidate to jumpstart the conversation. Some employers will wait until they make an offer to even mention salary.

While it’s generally not advisable to try to negotiate a salary before receiving a job offer, it is perfectly acceptable to ask what salary range they have in mind for the role.

If a candidate has concerns that the company’s budget is not in line with the salary the candidate is aiming for, inquiring early on about the salary range can help them avoid committing to multiple rounds of interviews for a role that isn’t the right fit.

What to Put for Desired Salary: Examples

At some point during a job search, a candidate will encounter a request to share their salary requirements. Once you feel confident you know what to put for a desired salary, you can turn to one of these examples for how to format your request.

•   I need to make a minimum of $XX in order to consider making a move from my current role/company.

•   I am looking for a new role that pays in the $XX to $XX range.

•   I am hoping to make $XX in my next role, but am open to negotiation for the right role.

It’s totally fine to keep salary requirements simple and straightforward to help eliminate any miscommunication.

The Takeaway

When you’re not sure what to put down for a desired salary, you’ll need to conduct market research into standard ranges for that role, industry, and experience level. You may also want to take your local cost of living into account. Once you feel confident with what to put for your desired salary on a job application, communicate that amount clearly and concisely.

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.

FAQ

What should I put for desired salary per hour?

When deciding what to put for your desired salary for an internship, part-time job, or other hourly role, you’ll need to research what the going rate is in your area. You also need to know what number works for your budget.

What to put for desired salary for part-time job?

Not sure what to put for a desired salary for a part-time job? Do some digging online to see the pay for other roles in the same industry and locality to get an idea of a fair number to ask for.

Is desired salary hourly or yearly?

Whether or not someone’s desired salary is hourly or annual typically depends on the type of role they’re applying for or the company’s preference. It can be helpful to have a number in mind for both.

About the author

Jacqueline DeMarco

Jacqueline DeMarco is a freelance writer who specializes in financial topics. Her first job out of college was in the financial industry, and it was there she gained a passion for helping others understand tricky financial topics. Read full bio.

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.

SORL-Q125-035

Salary negotiation is something that everyone should learn. Increasing your income early in your professional life can help set you up for a more lucrative career, stable finances, and comfortable retirement. And every time you don’t ask for a higher salary or raise, you limit your potential earnings from that moment on.

The fact is, you have little to lose. A 2024 article in the Harvard Business Review reported that a mere 6% of job offers fell through after candidates tried to negotiate their salary. And according to a survey by Pew Research Center, two-thirds of workers who sought higher starting pay said they received what they asked for.

Read on for negotiation tactics and strategies to help you climb higher on the compensation ladder.

Best Salary Negotiation Tactics

To negotiate your salary, you need a well-prepared, data-supported argument as to why you deserve higher pay. The next task is to deliver that argument confidently and convincingly. Here’s how.

Research the National Average Salary

Before you begin the negotiation, check the national and local average salaries for jobs similar to yours. The best sources for this information are Glassdoor, SalaryExpert, Salary.com, Indeed, and the Bureau of Labor Statistics (BLS).

Once you have the data, you can compare your salary to others’. You may adjust your expectations based on the demand for the type of work you do and the cost of living in your area. The latter is why salaries vary from one region to another.

Pitch to Justify Your Desired Salary

You can use the data on local and national salaries as benchmarks in a pitch for your desired salary. Two major points to cover in your pitch are the cost of living where you work and the demand for your skills.

If you hope to buy a place near your employer, a home affordability calculator can help you assess how much salary you need to live comfortably and own a home.

In New York, for example, your cost of living will be much higher than in North Carolina. Reflecting the economics, an elementary school teacher in North Carolina earns a median annual salary of $50K. In New York, the median annual salary for an elementary school teacher is $86K.

As for skills that are in demand, nurse practitioners are currently in short supply. According to the BLS, NPs are a fast-growing job, with demand expected to rise by 40% between 2023 and 2033. Compare that to the average growth rate for all occupations of 4%.

If there is high demand for your skills in your area, consider pitching your desired salary at the high end. All other things being equal, you may opt to work for the company that is prepared to pay you the most.

One argument that won’t fly? Stating the salary you need to pay your mortgage and other bills — that’s between you and your spending app.

Decide on Your Salary Range

Before negotiating your salary, decide on the minimum salary you will accept. Let’s say your research showed salaries from $75K to $100K, and you want to earn at least $85K. This advice can apply to recent grads negotiating a good entry-level salary or mid-career professionals working toward a promotion.

If you provide a range to an employer or hiring manager, it’s safe to assume that they will negotiate down, so it’s better to state a single number. If your goal is $85K, try asking for $92,250. Being specific implies that you have done careful research and gives you negotiating room. Just be careful not to aim too high or you’ll price yourself out of the market. And if you lowball yourself, chances are you will be unhappy in the position.

Be willing to walk away if the employer does not meet your minimum salary. The company can always come back to you with another offer, and you can always find another employer.

Recommended: Is $40,000 a Good Salary?

Consider Other Benefits

After deciding the minimum salary you will accept, consider other incentives that make a job offer more enticing. The employer might offer perks — such as flexible work hours, generous paid leave, educational opportunities, childcare, excellent healthcare benefits, or stock options — that would make a lower base salary worth it. Thanks to stock options, some 10,000 employees who joined Microsoft in its early years were millionaires by 2005.

Understand Who You’re Negotiating With

Understanding the hiring manager’s position and negotiating style will give you the upper hand and help you choose the right strategy.

According to the Black Swan Group, there are three types of negotiators, and each requires a different approach. This is valuable insight whether you’re negotiating your salary or trying to win a real-estate bidding war.

1. The Analyst

The analyst tends to be realistic and not stirred by emotional arguments. They base their decisions on data. With this type of negotiator, have plenty of salary comparisons to back up your desired salary.

2. The Accommodator

If the person you are negotiating with is friendly and talkative, they may be an accommodator. That means a good emotional argument may sway them. Present your data and comparisons, but also emphasize that your desired salary will ensure you are happy, engaged, and better equipped to do your job.

3. The Assertive Negotiator

This type of negotiator is a no-nonsense, get-to-the-point type of person. They view negotiating as a welcome challenge, so you’ll need to be on your toes. Your data, in this case, will be less effective, so the best approach is to state your demands confidently yet politely and be prepared to walk if they aren’t met. Be willing to revisit negotiations later if you do not succeed with the assertive negotiator the first time around.

Wait for a Job Offer to Negotiate Salary

It’s a good idea to delay salary negotiations until you have received a formal job offer. At that point, the employer has invested significant time in making sure you are the best candidate, so they are more likely to acquiesce rather than risk losing you. You can put off the conversation by remaining non-committal about salary until the time comes.

Let the Hiring Manager Make an Initial Offer

Often, a company will either tell you their budgeted salary range or ask you for your desired range. In either case, it’s customary to let the hiring manager make the initial offer before you start to negotiate. This will give you some idea of what you are working with.

Make a case for why you deserve a salary on the higher end of their range. Perhaps you have substantial experience or other skills that are unique to you, in demand, and valuable to the company.

Disclose Your Previous Job’s Salary

Some experts recommend not disclosing your previous salary because companies use it to gauge your worth. However, disclosing your salary gives the hiring manager an idea of what salary you might be expecting. When you start negotiating, you can still make a case for a higher salary based on your research into comparable jobs and your expertise.

Include any benefits you received from your past employer, such as bonuses, stock options, and other perks.

Recommended: Fulfilling Jobs That Pay Well

Discuss Current Job Offers from Other Companies

If you are lucky enough to have multiple job offers, you are in a strong negotiating position. It’s wise to tell a hiring manager you have another offer because it will encourage them to offer you more money sooner. The fact that you are in demand is proof of your value, and the longer they negotiate with you, the greater the chance that you could accept a competitor’s offer.

Choose an Appropriate Time

The best time to negotiate your salary is once you’ve been offered the position and before you sign a contract. If you are negotiating a pay raise with your current employer, your performance review is a good time to broach the subject.

It helps to discuss a potential pay raise months in advance. That way, you and your manager can agree on what you need to do to earn a pay raise and document it in your performance appraisal. Once you feel you have achieved those objectives, bring up the subject of a raise again and explain why you feel you deserve a raise.

Be Confident

The more confident you are when negotiating your salary or a pay raise, the more convincing you will be. Hold your head high and make your pitch clearly and without hesitation. Start the conversation off positively, and explain why you think you deserve more compensation. Then give the reasons why. Don’t rattle off a bunch of reasons, but present one or two data-backed arguments. For example:

“I’m really excited to work here, and I know I will bring value. I appreciate the offer at $63,000 but was really expecting to be in the $70,000 range based on the market and my past performance. Can we discuss a salary of $70,000?”

If all this has whetted your appetite for negotiation, don’t miss this advice on how to be a world-class haggler.

The Takeaway

Negotiating a salary does not have to be nerve-racking. If you have done your research and have identified a fair salary based on the market and your skills, be confident and do not accept anything less. The more demand there is for your skills, the more you can ask for in terms of salary.

Remember to consider other perks and benefits when negotiating. Extra time off or stock options may be more valuable to you than an additional few thousand dollars. The worst that can happen is that you decline an offer and move on to another employer who will pay you what you are worth.

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.

FAQ

What are the five basic negotiating strategies?

The five negotiation styles are competition, collaboration, compromise, accommodation, and avoidance. Competitive negotiation uses hardball tactics regarding the other party’s needs. A collaborative style uses a win-win approach and aims to meet the needs of both parties. Compromising is one of the more common negotiation tactics, but the result may be that neither party feels fully satisfied by the outcome. Accommodation is a style used when harm has been done to either party because it requires one party to “accommodate” or make repairs. Last, avoidance means avoiding negotiating entirely.

What are the best negotiation strategies and tactics to use when negotiating your salary?

The best negotiation tactics involve developing a convincing argument by researching the market rates for jobs similar to yours and considering the cost of living and the demand for your skills. Know the personality of the person you will negotiate with and choose a negotiation style that works for them. Next, pick the right time to negotiate and do so confident in the knowledge that you are worth the salary you are asking for.

What are the 4 C’s of negotiation?

The four C’s of negotiation are civility, competition, compromise, and compassion. When negotiating, it’s important to remain civil and avoid conflict by accepting that both sides have a legitimate point of view. It is inevitable that there will be some degree of competition during negotiation; each side wants to win. Compromise is often considered a sacrifice, but this ignores the idea that negotiation is a problem-solving strategy. Compassion contrasts with competition and calls for empathy and appreciation of the other side’s perspective. There must be a balance between competition and compassion in the negotiating process.

Photo credit: iStock/Inside Creative House

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.

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Looking to get a better handle on your finances? You may want to consider a monthly bullet journal. Part calendar, part to-do list, part note keeper, this type of journal can help you organize your finances, track short- and long-term financial goals, and more. And because it’s highly customizable, you can modify your journal to suit your specific needs. Whether you’re trying to curb your spending, get out of debt, or improve your financial habits, read on for ways a bullet journal can help.

What Is a Monthly Log?

Having a daily to-do list is useful. But sometimes it helps to see the larger goals and tasks you’ve set for yourself, especially if you’re working to develop good financial habits. Enter the monthly log, which is a key component of many bullet journals. The log gives you a snapshot of the things you’d like to accomplish that month and the progress you’ve made so far. You may choose to include it alongside your daily or weekly to-do list or keep it on a separate page.

How to Fill Out Your Monthly Log

Figuring out what should go in the log each month may take some time. You might find it helpful to make a big list of all upcoming events and tasks. Then, place each item in the correct month’s log, and be sure to add details such as important dates and milestones. You may also decide to categorize and color-code each entry for easy skimming.

Here are some different different ways you can tackle financial stress through journaling:

•   Get control of bills by listing when each bill is due, how much is due, and the payment method you plan on using.

•   Keep tabs on your savings plan by noting when you intend on putting money into your savings account, how much you’re depositing, and where the money is coming from, such as your checking account or paycheck.

•   Track your progress on paying down student loans, car loans, personal loans, credit cards, and other debt.

You can also use a monthly log along with your budget or a spending app to help you better understand your spending habits.

Benefits of Using a Bullet Journal

There are plenty of reasons why many people turn to bullet journaling to help them keep their finances on track. For starters, recording things like your expenses and spending, household budget, or savings goals can help you stay organized and increase productivity. There’s also the thrill of watching your savings balance go up or debt balance go down — and celebrating those accomplishments.

Visual learners may find monthly logs especially useful, particularly if they decide to color-code entries. But even just jotting down important details about your financial life can help keep your goals top of mind.

4 Monthly Bullet Journal Ideas

Here’s the beauty of a bullet journal: You can try out strategies others use or create a bespoke system for yourself. It can be as simple or complex as you’d like, and you may even find that it evolves over time. Here are four ideas on how to use bullet journaling in your financial life.

Use a Bullet Journal to Control Spending

You don’t have to have the classic signs of a shopaholic to want to curb your spending. A bullet journal can be a great tool to help you rein in the number of purchases you make.

One idea is to create a weekly bullet journal where you set how much you’ve allotted for discretionary spending that week and track any purchases made. Understanding how and where your money is going could help you avoid the bottom-dollar effect. This is when you may feel less satisfied with the last item you were able to buy with your budget.

Another option is the kakeibo budgeting method. This simple but effective strategy requires you to create a line item budget at the start of each month based on how much you plan on earning and spending, plus your savings goals. Throughout the month, you track every single penny you spend. At the end of month, review the log to see if you stayed on track spending-wise and are making progress on your savings goals.

Recommended: 10 Tips for Spending Your Money Wisely

Use a Bullet Journal for Financial Education

Despite what you may think, you can learn about finance without having a finance background. In fact, boosting your financial literacy could improve how well you spend, save, and invest your money. And a bullet journal might help get you there. You can use it to track your progress in an online financial literacy course, for example, or as a place to write down the books or podcasts that will help build your personal finance knowledge.

Use a Bullet Journal to Land a Job

Whether you’re searching for your dream job or just the next gig, consider devoting a few pages of your bullet journal to your job search. You may want to start by listing your goals in an easy-to-see spot so you can refer to them throughout the process. Use other areas to note the roles you apply for, key details about the positions, notes on the companies you researched, and any upcoming interviews. You can also try creating daily, weekly, or monthly to-do lists in your journal to help you stay on track.

Recommended: How to Make Money Even With No Job

Use a Bullet Journal to Track Progress on Long-Term Goals

Let’s say that you’re saving for a big-ticket item, like a house or car, or setting a long-term goal, such as paying off a large credit card bill. Bullet journaling lets you set those goals and track your progress. You can also break the goals down into smaller, easier-to-manage tasks that you set on a daily, weekly, monthly, or quarterly basis.

The Takeaway

Bullet journals allow you to record tasks, deadlines, responsibilities, and more in a format that combines a to-do list with a calendar. Though it can serve a wide variety of purposes, a bullet journal can also help you organize your finances and maximize your productivity. Common ideas include journaling to control spending, boost your financial literacy, help with a job search, and work on short- and long-term financial goals.

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.

FAQ

What should be in a monthly bullet journal?

Monthly bullet journals are flexible, so use them to suit your needs. For instance, if you want to monitor and manage your personal finances, you can use the bullet journal to track when bills are due, when you plan to deposit money into a savings account, how much debt you have, and more.

How do you make a monthly bullet journal?

You can purchase ready-made bullet journals or make your own. If you go the DIY route, simply buy a notebook you like and personalize it. It’s a good idea to create an index that you can update when needed as well as a log to list your future goals. You can also create sections for monthly and daily logs, where you can add more details.

What are monthly spreads for?

A monthly spread is another name for a monthly log. This is where you lay out the tasks you have for a particular month. Typically, a spread runs two or more pages, but do whatever works best for you.

Photo credit: iStock/Twomeows_IS

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.

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