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If you need a cashier’s check but don’t have a bank account, you will likely have to put some time and effort into getting the form of payment you need. You might open an account ASAP, find a financial institution that will issue a cashier’s check to those who aren’t account holders, or else consider using a money order.

The reason why cashier’s checks can be so restrictive and desirable is that they are a very secure form of payment, issued against a financial institution’s own funds. That is why they are not given out casually.

If you don’t have a bank account but need a cashier’s check, this guide will walk you through your options.

What Is a Cashier’s Check and How Does It Work?

A cashier’s check is a type of check that is issued by a bank from its own account and signed by a representative of the financial institution. Because the funds are guaranteed by the bank as opposed to the check writer, recipients of a cashier’s check can be assured of its security. They can feel confident that it won’t bounce.

(This is assuming, of course, that it’s not a fake or forged document — not even cashier’s checks are immune to fraud, which is why it’s important to verify a check.)

When a consumer buys a cashier’s check, the bank will typically withdraw funds from that person’s checking or savings account and then deposit them into its own account. From there, the bank will write the cashier’s check from its own account.

You may wonder what the difference is between a cashier’s vs. a certified check. With a certified check, the money is withdrawn from an account holder’s check and then certified by the bank. This certification indicates that there are enough funds in the account to cover the check and verifies that the account’s owner’s identity was confirmed by the bank. However, the money is not placed into the bank’s own account as an interim step.

Procedures involving checks, like ordering checks or having a cashier’s check prepared, often involve a fee. For cashier’s checks, this could be a flat fee of $10 or $15 or sometimes a percentage of the check’s amount. The fee may be waived for clients who have premium accounts.

Can You Get a Cashier’s Check Without a Bank Account?

Bank policies can vary, but it can be more challenging to get a cashier’s check without an account. Credit unions may be more willing to offer this service than banks, but it’s important to check with an individual institution to find out whether they’ll offer a cashier’s check without an account.

Keep in mind that you can only get a cashier’s check through a financial institution like a bank or credit union. You cannot purchase one at, say, the post office or Western Union.

If you do find a financial institution that will issue a cashier’s check to non-customers, the rest of the process will be largely the same as it is for customers — except that you will need to pay in cash because the funds can’t be withdrawn from an account.

The steps will likely involve:

•   Providing proper identification

•   Giving the financial institution the cash to deposit into its account

•   Letting the bank employee know the amount of the check you’ll need

•   Supplying the correct spelling of the recipient’s (payee’s) name

•   The bank printing all of the information; this means you can’t make any changes or handwritten corrections

Where to Get a Cashier’s Check Without a Bank Account

As far as where to get a cashier’s check without a bank account, most financial institutions won’t accommodate this request. You will likely have to do a bit of research to find one that does. You might try smaller local banks and credit unions in your area to see if they will accommodate this request.

Here is another work-around:

Opening and Closing an Account

If you know you’ll need to have a cashier’s check in the near future, opening a checking account now can position you for this financial transaction. To do so, you will typically need to provide information confirming your identity and choose which type of account you wish to open. From there, you can fill out an application and make an opening deposit, if required.

Then, once the account is up and running, you can request a cashier’s check. Make sure not to get one too far in advance of when it’s needed, because how long a check is good for is typically six months.

When you’re ready to close the account, be sure to transfer funds and move automatic transactions over to a new one, if that’s your plan, or to find other ways to handle these matters.

Can You Get a Cashier’s Check at Any Bank?

Virtually all financial institutions (traditional and online banks, credit unions) will issue cashier’s checks. The challenge can be that they typically only create these financial instruments for account holders.

If you just walk into or contact a bank where you do not have an account, they may not be willing to issue a cashier’s check for you. That’s true even if you have enough cash on you to cover the amount of the check you’re seeking.

Is There a Maximum Amount for a Cashier’s Check?

There is typically no upper limit for cashier’s checks, though policies may vary from one financial institution to the next.

The fact that there isn’t usually a maximum amount for cashier’s checks makes them particularly useful for larger purchases. For example, when undertaking a real estate transaction or buying a car, a cashier’s check may be a preferred form of payment for both parties involved.

Recommended: APY Calculator

Money Order: An Alternative to a Cashier’s Check

If you’re struggling to get a cashier’s check without a bank account or are simply curious what alternatives there may be, you may consider a money order. A money order is a type of paper check that can’t bounce because it’s been prepaid by the sender. Typically, there’s a limit to the value of these, a maximum of $1,000. One big advantage of money orders is that you don’t need a bank account to get one. This can make it an important option for those who are unbanked.

For instance, you can go to the post office and do the following:

•   Purchase money orders using cash, a traveler’s check, or a debit card (though not a credit card)

•   Pay the face value of the money order, plus a fee of a couple of dollars (for a domestic money order)

•   Fill out the money order to the payee and complete the transaction

Many banks and credit unions also sell money orders for a small fee of a few dollars, which may be waived for certain customers.

Money orders are also available at some retail locations, such as pharmacies, convenience stores, Western Union, Moneygram, and more. While fees may vary from location to location, they are usually no more than a few dollars.

Another Options to a Cashier’s Check

If a money order isn’t the right vehicle for you, there may be another way to move money if you cannot access a cashier’s check. You might be able to use a P2P app to transfer funds, such as PayPal or Venmo. These services can have transaction limits and fees, so do your research first.

The Takeaway

A cashier’s check is a form of payment that must be issued by a financial institution. Typically, funds are taken out of a customer’s savings or checking account and deposited into the bank’s account. Then the check is issued from the bank’s account, which provides a significant amount of security. Some banks or credit unions may allow you to buy a cashier’s check even if you are not a customer, but you may need to call around to determine where this is available. Money orders, meanwhile, can be purchased at the post office, financial institutions, and some retail and convenience stores.

FAQ

Can you get a cashier’s check without a bank account?

Many financial institutions do require a bank account to issue a cashier’s check. You may be able to get one without an account, perhaps through a credit union. It’s likely easier to buy a money order if that form of payment is acceptable to the recipient. This type of check is more widely available, including at the post office, financial institutions, and some retail and convenience stores.

Can I get a cashier’s check somewhere other than a bank?

No. By definition, a cashier’s check comes directly from a bank’s account. You can, however, get a money order from a variety of establishments, including the post office, financial institutions, and some stores.

Can I use a money order instead of a cashier’s check?

That depends upon the recipient. Both forms of payment are considered safer than a personal check, but you’ll need to verify that your payee will accept a money order instead of a cashier’s check if that’s what they requested. Also keep in mind that money orders may only be available in denominations up to $1,000.

Can you get a cashier’s check at the post office?

Only a financial institution can issue a cashier’s check because it comes directly from the bank’s or credit union’s own account. Thus, you cannot get a cashier’s check at the post office. The post office does issue money orders, however, which can be a good alternative if your recipient will accept this form of payment.

About the author

Kelly Boyer Sagert

Kelly Boyer Sagert is a full-time freelance writer who specializes in SEO-optimized blog and website copy: both B2B and B2C for companies ranging from one-person shops to Fortune 500 companies. Read full bio.

You may also be interested in:

What Is a Cashier’s Check and How Can You Get One?

Comparing Cashier’s Checks vs. Money Orders

What’s the Difference Between a Certified Check and a Cashier’s Check?

Photo credit: iStock/pixdeluxe

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

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

Third Party Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®

SOBNK-Q325-037

A nest egg can help you save for future goals, such as buying a home or for your retirement. Building a nest egg is an important part of a financial strategy, as it can help you cover any emergency costs that might crop up and allow you to become financially secure.

A financial nest egg requires some planning and commitment. In general, the sooner you start building a nest egg, the better.

What Is a Nest Egg?

A financial nest egg is a large amount of money that an individual saves to meet financial goals. Usually, a nest egg focuses on longer-term goals such as saving for retirement, paying for a child’s college education, or buying a home.

A nest egg could also help you handle emergency costs, such as unexpected medical bills, pricey home fixes, or car repairs. There is no one specific thing a nest egg is for, as it depends on each person’s unique aims and circumstances.

Understanding How a Nest Egg Works

To successfully build a nest egg, there are a few factors to keep in mind.

•  You have to have a plan. Unlike saving for short-term goals, building a nest egg takes time and you need a strategy to make it happen. A common technique is to save a certain amount of money each month or each week.

•  You need a place to stash your savings. This may sound obvious, but in order to save money every week or month, you have to put it in a savings account of some sort, such as a high-yield savings account. If you “save” the money in your checking account, you may end up spending it instead.

•  Make it untouchable. In order for your nest egg to grow so that you can reach your savings goals by a certain age, you have to protect it. Consider it hands-off.

How Much Money Should Be in Your Nest Egg?

There is no one correct amount a nest egg should be. The amount is different for each person, depending on their needs and what they are saving for. If you’re using your nest egg for a down payment on a house, for instance, you’ll likely need less money than if you are planning to use your nest egg for retirement.

If your nest egg is for retirement, one common rule of thumb is to save 80% of your annual income. However, the exact amount is different for each person, depending on the type of lifestyle they want to have in retirement. For instance, someone who plans to travel a lot may want to save 90% or more of their annual income.

What Are Nest Eggs Used for?

Nest eggs are typically used for future financial goals, such as retirement, a child’s education, or buying a house.

A nest egg can also be used to cover emergency costs, such as expensive home repairs, medical bills, or car repairs.

5 Steps to Building a Nest Egg

1. Set a SMART Financial Goal

The SMART goal technique is a popular method for setting goals, including financial ones. The SMART method calls for goals to be (S)pecific, (M)easurable, (A)chievable, (R)elevant, and (T)ime bound.

With this approach, it’s not enough to say, “I want to learn how to build a nest egg for emergencies.” The SMART goal technique requires you to walk through each step:

•  Be Specific: For example, if you’re saving for emergencies, target an amount to save in an emergency fund. One rule of thumb is to save at least three to six months’ worth of living expenses, in case of a crisis like an illness or a job layoff.

•  Make it Measurable and Achievable: Once you decide on the amount that’s your target goal, your next task is to figure out how to reach that goal. If you want to save money from your salary to reach a total of, say, $3,000 for your emergency fund, you could put $200 a month into a high-yield savings account until you reach your goal. Be sure to create a plan that’s measurable and doable for your situation.

•  Keep it Relevant and Time-bound: The last actions in the SMART method are to keep your goal a priority, and to adhere to a set timeframe for achieving it. For example, if you commit to saving $200 per month for 15 months in order to have an emergency fund of $3,000, that means you can’t suddenly earmark that monthly $200 for something else.

2. Create a Budget

Saving money takes time and focus. Making a budget is a way to help you save the amount you need steadily over time. There are numerous budgeting methods, so find one that works for you as you build up your nest egg.

You could try the 50-30-20 plan, for instance, in which you allocate 50% of your money to musts like rent, utility payment, groceries, and so on; 30% to wants, such as eating out or going to the movies; and 20% to savings. You could also explore zero-based budgeting. Try out your selected method to ensure that you can live with it.

3. Pay Off Debt

Debt can be a major obstacle to building a nest egg, especially if it’s high-interest debt like credit card debt. If you’re struggling to pay down debt, making it a priority to repay what you owe can help save you money on interest and also reduce financial stress.

Adding debt payments into your monthly budget is one way to help keep your debt repayment plan on track. In addition, there are specific methods you can use to repay debt.

Debt Repayment Strategies

These are two popular debt repayment strategies you might want to explore — the avalanche method and the snowball method.

The avalanche method focuses on paying off the debt with the highest interest rate as fast as possible. You continue to pay the minimum monthly amount on all your other debt, but you direct any extra money you have the highest-interest debt. This method can generally save you the most money in the long run.

The other option is the snowball method, which focuses on paying off the smallest debt first while making minimum payments on all other debts. When one debt is paid off, you take the payment that went toward that debt and add it to the next-smallest one, “snowballing” as you go.

This method can be more psychologically motivating, as it’s easier and faster to eliminate smaller debts first, but it can cost more in interest over time, especially if the larger debts have higher interest rates.

Finally if you’re having trouble paying down a certain debt, like a credit card or medical bill, it might be worth calling the lender. In some cases, lenders may work with individuals to create a manageable debt repayment plan. Call the lender before the debt gets out of control.

4. Make Saving Automatic

Automating your savings simplifies the act of saving with automatic transfers of money from your paycheck directly into your savings account. It can be a steady way to build your savings over time, since you don’t even have to think about it or remember to do it.

Not only that, because the money isn’t hitting your checking account, you won’t be tempted to spend it.

Set up automatic transfers to your online bank account every week, or every month. While you’re at it, set up automatic payments for the bills you owe. Don’t assume you can make progress with good intentions alone. Technology can be your friend, so use it!

5. Start Investing in Your Nest Egg

In addition to a savings account, you might also want to explore options like putting some of your money in a money market account or certificate of deposit (CD). Both types of accounts tend to earn higher interest rates than traditional savings accounts.

CDs come with a fixed term length and a fixed maturity date, which can range from months to years. You generally need to leave the money in a CD untouched for the length of the term, or you’ll owe an early withdrawal fee. With a money market account, you can access your money at any time, though there may be some restrictions.

To help build retirement savings over time, consider participating in your employer’s 401(k). Some employers offer matching funds — if you can, contribute enough to your to get the employer match, since it is essentially free money.

The Power of Compounding Interest

When saving money to build a nest egg in certain savings vehicles such as a high-yield savings account or a money market account, the power of compound interest can work to your advantage.

Here’s how it works: Compound interest is earned on the initial principal in a savings vehicle and the interest that accrues on that principal. So, for instance, if you have $500 in a savings account and you earn $5 in interest, the $5 is added to the principal and you then earn interest on the new, bigger amount. Compound interest can help your savings grow. Use a compound interest calculator to see this in action.

Why Having a Nest Egg Is Important

A financial nest egg can help you save for retirement and/or achieve certain financial goals, such as buying a home or paying for your child’s education. By building a nest egg as early as you can, ideally starting in your 20s or 30s, and contributing to it regularly, the more time your money will potentially have to grow.

The Takeaway

Building a nest egg starts with setting financial goals and then creating a specific plan of action to reach them. Using a method like the SMART goal technique, it’s possible to build a nest egg for an emergency fund, a down payment on a house, or retirement. You can use a budgeting system to help stay on track, and automate your savings to make saving simpler.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

What is a financial nest egg?

A financial nest egg is a sum of money you save or invest to meet a certain financial goal. A nest egg typically focuses on future milestones, such as retirement, paying for a child’s college education, or buying a home.

How much money is a nest egg?

There is no one specific amount of money a nest egg should be. The amount is different for each person, depending on their needs and what they’re using the nest egg for. For instance, if a nest egg is for retirement, some financial professionals suggest saving at least 80% percent of your annual income.

Why is it important to have a nest egg?

A nest egg allows you to save a substantial amount of money for a financial goal, such as retirement or your child’s education, for instance. By starting to build a nest egg as early as you can, the more time your money has to grow.

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

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.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
^Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
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SOBNK-Q325-111

If you’re looking for a career that makes a lot of money, you might want to start your search in the health and medical field. Health-care jobs are the highest-paying jobs in America, and overall employment in this sector is expected to grow much faster than the average for all occupations through 2034, according to the U.S. Bureau of Labor Statistics (BLS).

Outside of health care, professional athletes and airline pilots are among the highest-paid professions. Three other fields that also made the top 25: chief executive officers (CEOs), computer/information systems managers, and financial managers.

Read on for a snapshot of the highest-paying jobs across the U.S., followed by a listing of the best-paying careers by state.

Top 25 Highest Paying Jobs in America

To compile this list of highest-paying jobs, we reviewed data from BLS’s most recent Occupational Employment and Wage Statistics report (May 2024). We also used government data to cite the minimum education requirements, projected growth, and which industries provide employment for each occupation. For more job description details, we tapped the Occupational Information Network (O*NET).

Here’s a look at the highest-paying jobs in America, ranked from highest average salary to lowest.

1. Pediatric Surgeon

Pediatric surgeons diagnose and perform surgery to treat fetal abnormalities and birth defects, diseases, and injuries in fetuses, premature and newborn infants, children, and adolescents.

Average Salary

$450,810

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Analyze patient’s medical history, physical condition, and examination results to verify operation’s necessity and to determine best procedure.

•  Conduct research to develop and test surgical techniques that can improve operating procedures and outcomes.

•  Consult with a patient’s other medical care specialists to determine if surgery is necessary.

•  Describe preoperative and postoperative treatments and procedures to parents or guardians of the patient.

•  Direct and coordinate activities of nurses, assistants, specialists, residents, and other medical staff.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Hospitals

•  Offices of physicians

2. Cardiologist

Cardiologists diagnose, treat, manage, and prevent diseases or conditions of the cardiovascular system. They may further subspecialize in interventional procedures (e.g., balloon angioplasty and stent placement), echocardiography, or electrophysiology.

Average Salary

$432,490

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Administer emergency cardiac care for life-threatening heart problems.

•  Advise patients about diet, activity, and disease prevention.

•  Calculate valve areas from blood flow velocity measurements.

•  Compare measurements of heart wall thickness and chamber sizes to standards to identify abnormalities using echocardiogram results.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

3. Surgeons

Surgeons operate on patients to treat injuries, such as broken bones; diseases, such as cancerous tumors; and deformities.

Average Salary

$371,280

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

Varies with specialty

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  Colleges, universities, and professional schools

4. Orthopedic Surgeon

Orthopedic surgeons diagnose and perform surgery to treat and prevent rheumatic and other diseases in the musculoskeletal system.

Average Salary

$365,060

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Analyze patient’s medical history, physical condition, and examination results to verify operation’s necessity and to determine best procedure.

•  Conduct research to develop and test surgical techniques that can improve operating procedures and outcomes related to musculoskeletal injuries and diseases.

•  Direct and coordinate activities of nurses, assistants, specialists, residents, and other medical staff.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care Centers

•  Colleges, universities, and professional schools

5. Radiologists

Radiologists diagnose and treat diseases and injuries using medical imaging techniques, such as x rays, magnetic resonance imaging (MRI), nuclear medicine, and ultrasounds. They may also perform minimally invasive medical procedures and tests.

Average Salary

$359,820

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Perform or interpret the outcomes of diagnostic imaging procedures including magnetic resonance imaging (MRI), computer tomography (CT), positron emission tomography (PET), nuclear cardiology treadmill studies, mammography, or ultrasound.

•  Prepare comprehensive interpretive reports of findings.

•  Communicate examination results or diagnostic information to referring physicians, patients, or families.

•  Obtain patients’ histories from electronic records, patient interviews, dictated reports, or by communicating with referring clinicians.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Medical and diagnostic laboratories

•  Outpatient care centers

•  Colleges, universities, and professional schools

6. Dermatologists

Dermatologists diagnose and treat diseases relating to the skin, hair, and nails. They may perform both medical and dermatological surgery functions.

Average Salary

$347,810

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Conduct complete skin examinations.

•  Diagnose and treat pigmented lesions, such as common acquired nevi, congenital nevi, dysplastic nevi, Spitz nevi, blue nevi, or melanoma.

•  Perform incisional biopsies to diagnose melanoma.

•  Perform skin surgery to improve appearance, make early diagnoses, or control diseases such as skin cancer.

•  Counsel patients on topics such as the need for annual dermatologic screenings, sun protection, skin cancer awareness, or skin and lymph node self-examinations.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Outpatient care centers

•  Offices of other health practitioners

•  Medical and diagnostic laboratories

•  Personal care services

7. Anesthesiologist

Anesthesiologists administer anesthetics and analgesics for pain management prior to, during, or after surgery.

Average Salary

$336,640

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Examine patients, obtain medical history, and use diagnostic tests to determine risk during surgical, obstetrical, and other medical procedures.

•  Administer anesthetic or sedation during medical procedures, using local, intravenous, spinal, or caudal methods.

•  Monitor patients before, during, and after anesthesia and counteract adverse reactions or complications.

•  Record type and amount of anesthesia and patient condition throughout procedures.

•  Provide and maintain life support and airway management and help prepare patients for emergency surgery.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  Colleges, universities, and professional schools

•  Offices of other health practitioners

8. Oral and Maxillofacial Surgeons

Oral and maxillofacial surgeons perform surgery and related procedures on the hard and soft tissues of the oral and maxillofacial regions to treat diseases, injuries, or defects. They also diagnose problems of the oral and maxillofacial regions, and may perform surgery to improve function or appearance.

Average Salary

$334,310

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Administer general and local anesthetics.

•  Collaborate with other professionals, such as restorative dentists and orthodontists, to plan treatment.

•  Evaluate the position of the wisdom teeth to determine whether problems exist currently or might occur in the future.

•  Perform surgery to prepare the mouth for dental implants and to aid in the regeneration of deficient bone and gum tissues.

•  Remove impacted, damaged, and non-restorable teeth.

Projected growth (2024-2034)

5% to 8% (faster than average)

Top Industries

•  Offices of dentists

•  General medical and surgical hospitals

•  Outpatient care centers

•  Offices of physicians

9. Athletes and Sports Competitors

Athletes and sports competitors compete in athletic events.

Average Salary

$328,830

Typical Entry-Level Education

No formal educational credential

Primary Duties

•  Participate in athletic events or competitive sports, according to established rules and regulations.

•  Assess performance following athletic competition, identifying strengths and weaknesses and making adjustments to improve future performance.

•  Attend scheduled practice or training sessions.

•  Maintain optimum physical fitness levels by training regularly, following nutrition plans, or consulting with health professionals.

Projected growth (2024-2034)

5% (faster than average)

Top Industries

•  Spectator sports

•  Other amusement and recreation industries

•  Promoters of performing arts, sports, and similar events

•  Colleges, universities, and professional schools

10. Emergency Medicine Physicians

Emergency medicine physicians make immediate medical decisions and act to prevent death or further disability. They provide immediate recognition, evaluation, care, stabilization, and disposition of patients. They may also direct emergency medical staff in an emergency department.

Average Salary

$320,700

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Analyze records, examination information, or test results to diagnose medical conditions.

•  Assess patients’ pain levels or sedation requirements.

•  Collect and record patient information, such as medical history or examination results, in electronic or handwritten medical records.

•  Communicate likely outcomes of medical diseases or traumatic conditions to patients or their representatives.

•  Conduct primary patient assessments that include information from prior medical care.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  General medical and surgical hospitals

•  Outpatient care centers

•  Colleges, universities, and professional schools

11. Ophthalmologists

Ophthalmologists diagnose and perform surgery to treat and help prevent disorders and diseases of the eye. They may also provide vision services for treatment including glasses and contacts.

Average Salary

$301,500

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Perform comprehensive examinations of the visual system to determine the nature or extent of ocular disorders.

•  Diagnose or treat injuries, disorders, or diseases of the eye and eye structures including the cornea, sclera, conjunctiva, or eyelids.

•  Provide or direct the provision of postoperative care.

•  Develop or implement plans and procedures for ophthalmologic services.

•  Prescribe or administer topical or systemic medications to treat ophthalmic conditions and to manage pain.

Projected growth (2024-2034)

2% to 4% (as fast as average)

Top Industries

•  Offices of physicians

•  Offices of other health practitioners

•  Outpatient care centers

•  Colleges, universities, and professional schools

12. Neurologists

Neurologists diagnose, manage, and treat disorders and diseases of the brain, spinal cord, and peripheral nerves, with a primarily nonsurgical focus.

Average Salary

$286,310

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Interview patients to obtain information, such as complaints, symptoms, medical histories, and family histories.

•  Examine patients to obtain information about functional status of areas, such as vision, physical strength, coordination, reflexes, sensations, language skills, cognitive abilities, and mental status.

•  Perform or interpret the outcomes of procedures or diagnostic tests, such as lumbar punctures, electroencephalography, electromyography, and nerve conduction velocity tests.

•  Order or interpret results of laboratory analyses of patients’ blood or cerebrospinal fluid.

•  Diagnose neurological conditions based on interpretation of examination findings, histories, or test results.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  Colleges, universities, and professional schools

13. Obstetricians and Gynecologists

Obstetricians and gynecologists provide medical care related to pregnancy or childbirth. They diagnose, treat, and help prevent diseases of women, particularly those affecting the reproductive system. They may also provide general care to women, and perform both medical and gynecological surgery functions.

Average Salary

$281,130

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Treat diseases of female organs.

•  Care for and treat women during prenatal, natal, and postnatal periods.

•  Analyze records, reports, test results, or examination information to diagnose medical condition of patients.

•  Perform cesarean sections or other surgical procedures as needed to preserve patients’ health and deliver babies safely.

•  Collect, record, and maintain patient information, such as medical histories, reports, or examination results.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  Colleges, universities, and professional schools

14. Psychiatrists

Psychiatrists diagnose, treat, and help prevent mental disorders.

Average Salary

$269,120

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Prescribe, direct, or administer psychotherapeutic treatments or medications to treat mental, emotional, or behavioral disorders.

•  Gather and maintain patient information and records, including social or medical history obtained from patients, relatives, or other professionals.

•  Design individualized care plans, using a variety of treatments.

•  Collaborate with physicians, psychologists, social workers, psychiatric nurses, or other professionals to discuss treatment plans and progress.

•  Analyze and evaluate patient data or test findings to diagnose nature or extent of mental disorder.

Projected growth (2024-2034)

7% (faster than average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  State government

15. Pathologists

Pathologists diagnose diseases and conduct lab tests using organs, body tissues, and fluids. Includes medical examiners.

Average Salary

$266,020

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Examine microscopic samples to identify diseases or other abnormalities.

•  Diagnose diseases or study medical conditions, using techniques such as gross pathology, histology, cytology, cytopathology, clinical chemistry, immunology, flow cytometry, or molecular biology.

•  Write pathology reports summarizing analyses, results, and conclusions.

•  Communicate pathologic findings to surgeons or other physicians.

•  Identify the etiology, pathogenesis, morphological change, and clinical significance of diseases.

Projected growth (2024-2034)

5% to 8% (faster than average)

Top Industries

•  Offices of physicians

•  Medical and diagnostic laboratories

•  Colleges, universities, and professional schools

•  Local government, excluding schools and hospitals

•  Scientific research and development services

16. General Internal Medicine Physicians

General internal medicine physicians diagnose and provide nonsurgical treatment for a wide range of diseases and injuries of internal organ systems. They provide care mainly for adults and adolescents, and are based primarily in an outpatient care setting.

Average Salary

$262,710

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Treat internal disorders, such as hypertension, heart disease, diabetes, or problems of the lung, brain, kidney, or gastrointestinal tract.

•  Analyze records, reports, test results, or examination information to diagnose medical condition of patients.

•  Prescribe or administer medication, therapy, and other specialized medical care to treat or prevent illness, disease, or injury.

•  Manage and treat common health problems, such as infections, influenza or pneumonia, as well as serious, chronic, and complex illnesses, in adolescents, adults, and the elderly.

•  Provide and manage long-term, comprehensive medical care, including diagnosis and nonsurgical treatment of diseases, for adult patients in an office or hospital.

Projected growth (2024-2034)

2% to 4% (average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Colleges, universities, and professional schools

•  Outpatient care centers

17. Family Medicine Physicians

Family medicine physicians diagnose, treat, and provide preventive care to individuals and families across the lifespan. They may refer patients to specialists when needed for further diagnosis or treatment.

Average Salary

$256,830

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Prescribe or administer treatment, therapy, medication, vaccination, and other specialized medical care to treat or prevent illness, disease, or injury.

•  Order, perform, and interpret tests and analyze records, reports, and examination information to diagnose patients’ condition.

•  Collect, record, and maintain patient information, such as medical history, reports, or examination results.

•  Monitor patients’ conditions and progress and reevaluate treatments as necessary.

•  Explain procedures and discuss test results or prescribed treatments with patients.

Projected growth (2024-2034)

2% to 4% (average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  Colleges, universities, and professional schools

18. Orthodontists

Orthodontists examine, diagnose, and treat dental malocclusions and oral cavity anomalies. They design and fabricate appliances to realign teeth and jaws to produce and maintain normal function and to improve appearance.

Average Salary

$243,620

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Examine patients to assess abnormalities of jaw development, tooth position, and other dental-facial structures.

•  Study diagnostic records, such as medical or dental histories, plaster models of the teeth, photos of a patient’s face and teeth, and X-rays, to develop patient treatment plans.

•  Fit dental appliances in patients’ mouths to alter the position and relationship of teeth and jaws or to realign teeth.

•  Adjust dental appliances to produce and maintain normal function.

Projected growth (2024-2034)

4% (as fast as average)

Top Industries

•  Offices of dentists

•  Hospitals

19. Airline Pilots, Copilots, and Flight Engineers

Airline pilots, copilots, and flight engineers pilot and navigate the flight of fixed-wing aircraft, usually on scheduled air carrier routes, for the transport of passengers and cargo. This job requires a Federal Air Transport certificate and rating for the specific aircraft type used.

Average Salary

$226,600

Typical Entry-Level Education

Bachelor’s degree

Primary Duties

•  Start engines, operate controls, and pilot airplanes to transport passengers, mail, or freight, adhering to flight plans, regulations, and procedures.

•  Work as part of a flight team with other crew members, especially during takeoffs and landings.

•  Respond to and report in-flight emergencies and malfunctions.

•  Inspect aircraft for defects and malfunctions, according to pre-flight checklists.

Projected growth (2024-2034)

4% (as fast as average)

Top Industries

•  Scheduled air transportation

•  Couriers and express delivery services

•  Federal executive branch

•  Support activities for air transportation

•  Management of companies and enterprises

20. Pediatricians

Pediatricians diagnose, treat, and help prevent diseases and injuries in children. They also refer patients to specialists for further diagnosis or treatment, as needed.

Average Salary

$222,340

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Prescribe or administer treatment, therapy, medication, vaccination, and other specialized medical care to treat or prevent illness, disease, or injury in infants and children.

•  Examine children regularly to assess their growth and development.

•  Treat children who have minor illnesses, acute and chronic health problems, and growth and development concerns.

•  Examine patients or order, perform, and interpret diagnostic tests to obtain information on medical conditions and determine diagnosis.

Projected growth (2024-2034)

3% to 4% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  Colleges, universities, and professional Schools

21. Nurse Anesthetists

Nurse anesthetists administer anesthesia, monitor patient’s vital signs, and oversee patient recovery from anesthesia. They assist anesthesiologists, surgeons, other physicians, or dentists. They must be registered nurses who have specialized graduate education.

Average Salary

$214,200

Typical Entry-Level Education

Master’s degree

Primary Duties

•  Manage patients’ airway or pulmonary status, using techniques such as endotracheal intubation, mechanical ventilation, pharmacological support, respiratory therapy, and extubation.

•  Respond to emergency situations by providing airway management, administering emergency fluids or drugs, or using basic or advanced cardiac life support techniques.

•  Monitor patients’ responses, including skin color, pupil dilation, pulse, heart rate, blood pressure, respiration, ventilation, or urine output, using invasive and noninvasive techniques.

•  Select, order, or administer anesthetics, adjuvant drugs, accessory drugs, fluids or blood products as necessary.

•  Select, prepare, or use equipment, monitors, supplies, or drugs for the administration of anesthetics.

Projected growth (2024-2034)

35% (much faster than average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  Offices of other health practitioners

•  Colleges, universities, and professional schools

22. Chief Executives

Chief executives determine and formulate policies and provide overall direction of companies or private and public sector organizations within guidelines set up by a board of directors or similar governing body. They plan, direct, or coordinate operational activities at the highest level of management with the help of subordinate executives and staff managers.

Average Salary

$206,420

Typical Entry-Level Education

Bachelor’s degree

Primary Duties

•  Direct or coordinate an organization’s financial or budget activities to fund operations, maximize investments, or increase efficiency.

•  Confer with board members, organization officials, or staff members to discuss issues, coordinate activities, or resolve problems.

•  Direct, plan, or implement policies, objectives, or activities of organizations or businesses to ensure continuing operations, to maximize returns on investments, or to increase productivity.

•  Prepare or present reports concerning activities, expenses, budgets, government statutes or rulings, or other items affecting businesses or program services.

Projected growth (2024-2034)

4% (as fast as average)

Top Industries

•  Local and state government

•  Management of companies and enterprises

•  Elementary and secondary schools

•  Computer systems design and related services

23. Dentists

Dentists examine, diagnose, and treat diseases, injuries, and malformations of teeth and gums. They treat diseases of nerve, pulp, and other dental tissues affecting oral hygiene and retention of teeth. They may also fit dental appliances or provide preventive care.

Average Salary

$179,210

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Examine teeth, gums, and related tissues, using dental instruments, x-rays, or other diagnostic equipment, to evaluate dental health, diagnose diseases or abnormalities, and plan appropriate treatments.

•  Administer anesthetics to limit the amount of pain experienced by patients during procedures.

•  Use dental air turbines, hand instruments, dental appliances, or surgical implements.

•  Formulate plan of treatment for patient’s teeth and mouth tissue.

Projected growth (2024-2034)

4% (as fast as average)

Top Industries

•  Offices of dentists

•  Hospitals

•  Outpatient care centers

•  General medical and surgical hospitals

24. Computer and Information Systems Managers

Computer and information systems managers plan, direct, or coordinate activities in such fields as electronic data processing, information systems, systems analysis, and computer programming

Average Salary

$171,200

Typical Entry-Level Education

Bachelor’s degree

Primary Duties

•  Direct daily operations of department, analyzing workflow, establishing priorities, developing standards and setting deadlines.

•  Meet with department heads, managers, supervisors, vendors, and others, to solicit cooperation and resolve problems.

•  Review project plans to plan and coordinate project activity.

•  Assign and review the work of systems analysts, programmers, and other computer-related workers.

•  Provide users with technical support for computer problems.

Projected growth (2024-2034)

15% (much faster than average)

Top Industries

•  Computer systems design and related services

•  Management of companies and enterprises

•  Software publishers

•  Management, scientific, and technical consulting services

•  Computing infrastructure providers, data processing, web hosting, and related services

25. Financial Managers

Financial managers plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.

Average Salary

$161,700

Typical Entry-Level Education

Bachelor’s degree

Primary Duties

•  Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.

•  Oversee the flow of cash or financial instruments.

•  Plan, direct, or coordinate the activities of workers in branches, offices, or departments of establishments, such as branch banks, brokerage firms, risk and insurance departments, or credit departments.

•  Recruit staff members.

•  Evaluate data pertaining to costs to plan budgets.

Projected growth (2024-2034)

15% (much faster than average)

Top Industries

•  Credit intermediation and related activities

•  Management of companies and enterprises

•  Securities, commodity contracts, and other financial investments and related activities

•  Accounting, tax preparation, bookkeeping, and payroll services

•  Insurance carriers

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What Are The Highest Paying Jobs Without a Degree?

Jobs that make a lot of money don’t always require a college education. These are five top high-paying jobs that don’t require a degree.

•   Commercial Pilot: The average annual salary of a commercial pilot is $122,670, and the projected job growth is 4% (as fast as average), according to the BLS. Commercial pilots typically need flight training and they must meet federal regulations regarding certifications and ratings.

•   Elevator and Escalator Installer and Repairer: The annual average salary for this position is $106,580, and the job is expected to grow faster than average between 2024 and 2034, BLS data shows. Most elevator and escalator installers and repairers learn the job through an apprenticeship, and most states require them to be licensed.

•   Transportation, Storage and Distribution Manager: The average annual salary for this job is 102,010, and the job is growing faster than average (6%) from 2024 to 2034, according to BLS. Those interested in this field typically need work-related experience, such as warehousing.

•   Aircraft and Avionics Equipment Mechanic and Technician: The average annual pay for these trade jobs ranges from $78,680 for aircraft mechanics and service technicians to $81,390 for avionics technicians. The field is expected to grow 5% (faster than average) between 2024 and 2034, BLS data finds. A certificate from a program approved by the Federal Aviation Administration may be required, though it’s possible to train on the job or in the military.

•   Police and Detective:

The average annual salary for these jobs is $77,270, and the projected job growth is about 3%, or as fast as average, according to the BLS. Most police officers and detectives must graduate from their agency’s training academy.

Recommended: Common Signs That You Need to Make More Money

How to Choose a Job Based on Your Personality

Finding a job that not only pays well so you’ll have plenty of money in your checking and savings account, and is an enjoyable position that will help you grow and thrive, is the ultimate goal for job seekers. One way to do it is to assess your personality to see what jobs might be the best fit for you.

To choose a job based on your personality, first consider your interests, values, and strengths. What are you good at? What kinds of things do you like to do? What types of tasks give you a sense of purpose? Think about things you’ve done in the past that made you feel fulfilled, confident, and energized.

Next, take an online career assessment test. These tests can help you identify your core strengths and find career paths that align with those traits. For example, are you creative or more of the analytical type? The answer to that question could help direct you into a field like public relations or marketing if you’re creative, or computers of finance if you’re analytical.

Are you social and enjoy working as part of a team? If so, you might look into the best jobs for extroverts so that you can make the most of your traits and skills.

On the other hand, if you prefer a more self-directed role where you can work independently and focus closely on the task at hand, you can explore the best jobs for introverts.

Finally, research different career options that match your personality traits and choose the ones that are most appealing and strike you as rewarding jobs. Is there anyone in your network who works in one of those fields? If so, get their contact information and reach out to see if you can set up an informational interview with them. Ask lots of questions about what the job is like day-to-day. Can you see it being a good long-term fit for you? If so, go ahead and start your job search!

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What are the Highest Paying Jobs in Each State?

The best-paying careers and occupations in the U.S. vary by location. Here’s a look at the best-paid jobs by state based on the BLS’s State Occupational Employment and Wage Estimates for 2024. This listing goes in alphabetical order and includes all 50 states.

Alabama

Career: Cardiologist

Average Salary: $443,520

Alaska

Career: Surgeon

Average Salary: $407,300

Arizona

Career: Pediatric Surgeon

Average Salary: $533,740

Arkansas

Career: Orthopedic Surgeon

Average Salary: $346,680

California

Career: Anesthesiologists

Average Salary: $452,930

Learn more: 20 Highest-Paying Jobs in California

Colorado

Career: Neurologists

Average Salary: $409,690

Connecticut

Career: Cardiologists

Average Salary:$381,730

Delaware

Career: Obstetricians and Gynecologists

Average Salary: $309,490

District of Columbia

Career: Radiologists

Average Salary: $353,800

Florida

Career: Cardiologist

Average Salary: 494,690

Georgia

Career: Surgeons

Average Salary: $446,490

Hawaii

Career: Opthamologists

Average Salary:$343,320

Idaho

Career: Dermatologists

Average Salary: $525,040

Illinois

Career: Opthamologists

Average Salary: $375,370

Indiana

Career: Surgeons

Average Salary: $429,250

Iowa

Career: Opthamologists

Average Salary: $430,910

Kansas

Career: Surgeons

Average Salary: $365,230

Kentucky

Career: Pathologists

Average Salary: $376,940

Louisiana

Career: Cardiologists

Average Salary: $422,290

Maine

Career: Opthamologists

Average Salary: $355,640

Maryland

Career: Emergency Medicine Physicians

Average Salary: $358,680

Massachusetts

Career: Radiologists

Average Salary: $369,490

Michigan

Career: Orthopedic Surgeons

Average Salary: $426,300

Minnesota

Career: Dermatologists

Average Salary: $581,560

Mississippi

Career: Cardiologists

Average Salary: $418,290

Missouri

Career: Radiologists

Average Salary: $363,870

Montana

Career: Surgeons

Average Salary: $415,030

Nebraska

Career: Anesthesiologists

Average Salary: $455,850

Nevada

Career: Emergency Medicine Physicians

Average Salary: $361,510

New Hampshire

Career: Radiologists

Average Salary: $388,410

New Jersey

Career: Chief Executives

Average Salary: $449,370

New Mexico

Career: Neurologists

Average Salary: $383,340

New York

Career: Cardiologists

Average Salary: $402,840

North Carolina

Career: Cardiologists

Average Salary: $450,610

North Dakota

Career: Physicians

Average Salary: $351,270

Ohio

Career: Cardiologists

Average Salary: $500,440

Oklahoma

Career: Pathologists

Average Salary: $296,030

Oregon

Career: Dermatologists

Average Salary: $481,330

Pennsylvania

Career: Cardiologists

Average Salary: $408,950

Rhode Island

Career: Surgeons

Average Salary: $379,330

South Carolina

Career: Orthopedic Surgeons

Average Salary: $398,350

South Dakota

Career: Radiologists

Average Salary: $475,780

Tennessee

Career: Cardiologists

Average Salary: $472,670

Texas

Career: Radiologists

Average Salary: $327,850

Utah

Career: Surgeons

Average Salary: $515,130

Vermont

Career: Orthopedic Surgeon

Average Salary: $449,240

Virginia

Career: Cardiologists

Average Salary: $399,570

Washington State

Career: Orthopedic Surgeons

Average Salary: $396,590

West Virginia

Career: Surgeons

Average Salary: $344,770

Wisconsin

Career: Orthopedic Surgeons

Average Salary: $534,270

Wyoming

Career: Cardiologists

Average Salary: $498,630

The Takeaway

Whether you look at the highest-paying fields nationally or by state, health-care professions dominate the list. However, a few other careers also show up in the highest-paid job rankings, including professional athletes, chief executives, airline pilots, and computer/information systems managers. Plus, there are many jobs that don’t require a degree that also pay well — proving that it’s possible to find a job that fits your skills, core personality traits, and interests and also lets you earn a good income.

Whatever field you choose to go into, choosing the right bank account for your hard-earned cash can help you make the most of your money.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

What job makes $500,000 a year?

Jobs that make $500,000 a year or more tend to be specialized medical professions, such as surgeons, dermatologists, and anesthesiologists. For example, in some states in the U.S., pediatric surgeons and dermatologists earn more than $500,000 a year.

What is the highest paying job in the world?

There is no one single highest-paying job in the world. However, the highest paying jobs across the globe include neurosurgeons, who can earn an average of $500,000 to $800,000 a year, chief executive officers, who can earn an average of $350,000 to $1.5 million, and Artificial Intelligence (AI) and Machine Learning (ML) Engineers, who can earn an average of $180,000 to $350,000.

What are the best paying careers in the medical field?

The best-paying careers in the medical field are typically surgical specialties, such as neurosurgeons and orthopedic surgeons who can earn more than $600,00 a year, and other medical specialists like cardiologists, anesthesiologists, and radiologists, who can earn around $500,000 a year or more.

What are some high-paying jobs that are in high demand?

High-paying jobs that are in high demand include those in the healthcare field like doctors and nurses; technology jobs, such as data scientists and information security analysts; and skilled trades like elevator and escalator installers and repairs, and transportation, storage, and distribution managers. Workers in all these jobs typically earn more than $100,000 a year.

Do you need an advanced degree to get a high-paying job?

No, you don’t need an advanced degree — or in some cases, even a Bachelor’s degree — to get a high-paying job. Commercial pilots, elevator and escalator installers and repairers, and transportation, storage, and distribution managers all make more than $100,000 without a college degree. Other high-paying jobs, such as software developers, computer hardware engineers, and human resource managers, typically don’t require an advanced degree.

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Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
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An IPO, or initial public offering, is when a company makes its shares available for public trading for the first time. An acquisition is when one company takes over another company.

The difference between an IPO vs. an acquisition is important for investors to understand. When a company applies for an IPO, it enters into a process to be listed on a public exchange where investors can buy its shares. In an acquisition, the company being bought may not survive — or it may thrive, but only as part of the newly combined organization.

Investors contemplating investing in companies undergoing an IPO or an acquisition would do well to think through the benefits and risks.

How IPOs Work

Private companies can go public with an IPO. That’s when they sell their shares to investors for the first time to raise capital to fund growth opportunities, create more awareness about the company, or to acquire other businesses, among other possible reasons.

The IPO process typically involves the private company hiring an underwriter like an investment bank to guide them through. The underwriter conducts an evaluation of the company to determine its valuation and growth potential, and helps the company decide the initial share price and the number of shares to offer.

Then the underwriter helps market the offering through what’s known as an IPO roadshow. The final IPO price is generally determined by investor demand.

Once the IPO has been reviewed and approved by the Securities and Exchange Commission (SEC), the company is listed on a public stock exchange where qualified investors can buy shares of the IPO stock.

Because IPO stock is highly volatile, it can be risky for retail investors to plunge into IPO investing. Doing thorough due diligence before investing in an IPO or any type of security is critical.


💡 Quick Tip: IPO stocks can get a lot of media hype. But savvy investors know that where there’s buzz there can also be higher-than-warranted valuations. IPO shares might spike or plunge (or both), so investing in IPOs may not be suitable for investors with short time horizons.

Advantages of Going Public

Taking a private company public has a number of possible advantages. These include:

Capital for Investment

For a company, the biggest benefit of an IPO is raising capital. Once investors start buying IPO stocks, the proceeds from an IPO may be substantial. The company typically uses the capital it raises for internal investments and expansion.

For example, the company could allocate the money to pay for research and development, hire more staff, or expand its operations.

Publicity

In some cases, IPOs generate publicity. This, in turn, can drive more attention to the company and get investors interested in purchasing shares of its stock. IPOs are frequently covered in business news, which adds to the IPO buzz.

However, if there is too much hype, that can contribute to high expectations for the stock, which can create stock volatility after the IPO.

Valuation

Some companies that go public may end up having higher valuations. Certainly, that is a hoped-for result of the IPO process. Because a public company has access to more capital, the shares of the company can increase in price over time. However, they can also lose value.

Disadvantages of Going Public

There are also drawbacks to going public. Companies must adhere to a series of steps and regulations in order to have a successful IPO, and the process can be arduous. Here are some of the disadvantages.

High Cost

Going public is expensive. The company needs to work with an investment bank that acts as an underwriter, and this is one of the largest costs associated with an IPO.

As noted earlier, IPO underwriters review the company’s business, management, and overall operations. In addition, legal counsel is required to help guide the company through the IPO. There are costs associated with accounting and financial reporting, and companies also accrue fees for applying to be listed on the exchange.

Not Enough Information for Investors

From an investor’s perspective, investing in an IPO can be challenging and risky. A company pursuing an IPO may be fairly new. In that case, investors may not have enough information or historical data on the company’s performance to make a determination on the company’s true value in order to decide whether the IPO is a sound investment.

Stock Market Stress

Once a company goes public, it is on the public market where it is subject to such factors as scrutiny, market volatility, and investor sentiment. Every move and decision the company makes, such as a corporate restructuring, change in leadership, or release of earnings reports, will be reviewed closely by industry analysts and investors, who will provide their opinions on whether the company is doing well or not.


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What Is an Acquisition?

An acquisition is when one company, the acquirer, buys a majority or controlling stake in another company, the target.

This gives the acquiring company control over the target company’s assets and operations. The target company typically becomes a subsidiary of the acquiring company.

Advantages of Being Acquired

Being acquired doesn’t have to signal the end of a company — in fact, sometimes it can be a lifeline. These are some of the potential perks.

Growth

An acquisition could help a target company move into new markets and become a leader in its industry. If the company is working in a competitive landscape, being acquired may help increase its value and allow it to gain more market strength.

Innovation

When one company acquires another, this allows both companies’ resources, employees, and experiences to come together. This may enable the bigger company to generate new ideas and business strategies that may help increase the company’s earnings. It can also create a new team of employees with specialization and expertise that could help the company develop and reach new goals.

More Capital

When an acquisition occurs, it can increase the cash holdings and assets of the acquiring company and allow for more investment in the newly formed bigger company.

Disadvantages of Being Acquired

There are also distinct downsides to being acquired by another company, such as:

Conflicting Priorities

In some acquisition scenarios, there may be competing priorities between the two companies. The acquiring company and target company once worked as individual entities, but now, as one company, both sides must work together to be successful, which may be easier said than done. If there isn’t alignment on the goals of the organization as a whole, there is a possibility that the acquisition may fail, or the transition could be rocky and prolonged.

Pressure on Existing Partnerships

When an acquisition occurs and a company grows in size, it is likely that their goals will grow as well. For example, if the company wants to develop more products to expand into new markets, this could require their suppliers to figure out how they are going to ramp up production to meet the demand.

The supplier may need to raise more capital to hire staff or purchase additional equipment and supplies, which could cause stress.

Brand Risk

When two companies come together, if one has a poor reputation in the industry, the acquisition could put the other company’s brand at risk. During the acquisition process, both companies’ reputations may need to be evaluated to decide whether they merge under one brand or are marketed as separate brands.

The Takeaway

Both initial public offerings (IPOs) and acquisitions can offer opportunities for investors. However, these two events are quite different. An IPO is when a private company decides to go public and sell its shares to investors on the public market, while an acquisition is when one company buys another company.

There are a number of pros and cons regarding IPOs, just as there are advantages and disadvantages when a company is acquired. Potential investors need to thoroughly research each scenario to make sure it’s the right opportunity for them.

Whether you’re curious about exploring IPOs, or interested in traditional stocks and exchange-traded funds (ETFs), you can get started by opening an account on the SoFi Invest® brokerage platform. On SoFi Invest, eligible SoFi members have the opportunity to trade IPO shares, and there are no account minimums for those with an Active Investing account. As with any investment, it's wise to consider your overall portfolio goals in order to assess whether IPO investing is right for you, given the risks of volatility and loss.

FAQ

Is an acquisition an IPO?

No, an acquisition is not an IPO. An acquisition is when one company purchases part of or all of another company to form one new company. An IPO is when a private company goes public and sells its shares to investors on the public market.

What is the difference between an IPO and a takeover?

An IPO is when a private company decides to go public and sell its shares to investors on the public market. A takeover is when one company takes control of another company. A takeover may be hostile, meaning it is unwanted by the target company’s management.

Is a takeover the same as an acquisition?

No, a takeover and an acquisition are not the same thing. However, a takeover is a type of acquisition. An acquisition is the purchase of a target company, and it may be friendly or hostile. A takeover is an acquisition that is typically unsolicited and unwelcome by the target company.

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