Two nurses standing in a hospital hallway in white scrubs review information on a tablet together and discuss it.

What Is the Average Nurse Salary?

Nursing can be a rewarding career in a couple of important ways. It involves caring for the health of others, which can be satisfying. A nursing degree can also mean job stability and a good paycheck. According to the Bureau of Labor Statistics, demand for nurses will increase at 5% per year, faster than the average career growth. And the average registered nurse salary was at a median of $93,600 per year in 2024. Compare that with the median US salary for the same period of $61,984, and you can see that nursing can be a lucrative career.

The average nursing salary will vary depending on the type of nursing you do. For instance, there’s the average nurse salary vs. the average registered nurse salary vs. the average nurse practitioner salary. Qualifications and other factors will determine how much you make as a nurse.

Read on to learn more about nursing salaries, the cost of getting a nursing degree, and ways to pay for it. This information can help you decide if nursing is the right career path for you, and, if so, which type of nursing you want to pursue.

Key Points

•  The median registered nurse (RN) salary is $93,600 per year, well above the U.S. median salary of $61,984, with demand projected to grow 5% annually.

•  Salaries differ by role: LVN/LPNs average $62,340, RNs $93,600, Clinical Nurse Specialists $94,945, and Nurse Practitioners $137,00.

•  Nursing pay varies widely by location, with Washington and California among the highest, and Mississippi and Alabama among the lowest.

•  Education costs range from $2,000 to $18,000 for LPN programs, and $57,000+ for advanced degrees, plus fees for supplies, licensing, and exams.

•  Nurses may qualify for loan forgiveness programs like PSLF, NURSE Corps, or NHSC, or manage debt through repayment plans and refinancing.

Average Salaries for Different Types of Nurses

If you’re considering nursing as a career and wondering how much nurses make, it’s vital to know about the different types of nurses. Each has its own education and certification requirements.

•  A licensed vocational nurse (LVN) or licensed practical nurse (LPN) is one of the lowest-paid jobs within the nursing field. Job responsibilities are typically similar for LVN and LPNs. California and Texas use the term LVN, while the rest of the country uses the designation LPN. These positions also have the lowest educational requirements.

While LVN/LPN roles don’t always require a college education, there are usually state-approved training certification programs. Most of these courses take aspiring LVN/LPNs one year to complete, and then they must pass the NCLEX-PN examination for state licensing. How much does a nurse make a year with this kind of credential? The average salary for LVN/LPNs as of 2024 was about $62,340 annually.

•  Aspiring registered nurses (RN) typically need a bachelor’s or associate degree from an accredited program. There are also some accelerated programs available and some second degree programs for students who already have a bachelor’s degree in another field.

After successfully completing their chosen coursework, nursing students must then pass the NCLEX-RN exam in order to become a certified RN. In addition, RNs usually must obtain a state license after passing the NCLEX-RN exam.

To drill down on the details here, know that each state has its own licensing board. You may want to research the specific requirements in the state where you plan to practice. How much do RNs make? The average RN salary as of 2024, as noted above, was approximately $93,600 per year. (Below you will find state-by-stage nursing salaries, though not specifically for RNs.)

Next, consider the career of a Clinical Nurse Specialist (CNS). This type of nurse has gone a step beyond RN and pursued additional education. At a minimum, you must have a master of science in nursing (MSN) to become a CNS.

A CNS typically trains extensively in a specialty area, such as emergency medicine, oncology, or women’s health. In 2024, the average salary for a CNS was $94,945 annually and it may be well above $100,000 depending on location, which is higher than the RN salary, reflecting the additional education and skills.

•  A Nurse Practitioner (NP) holds an advanced degree, but their responsibilities vary slightly when compared with a CNS. For example, in most states, a nurse practitioner is able to prescribe medication, while a CNS is not. The average nurse practitioner salary in 2024 was $137,000 annually.

Average Salaries and Location

Here’s another factor that can impact the average nurse’s salary: location. After all, wages and overall cost of living can vary dramatically depending on whether you live in, say, a small town or close to a pricey urban center.

Check this chart to see how average nurse salaries compare state by state. Note that these figures reflect LPN salaries, which are at the lower end of the spectrum, but they can give you an idea of how much nurses make by location. This could be good information to consider when deciding where to practice.

State Average Annual Nurse Salary
Alabama $50,760
Alaska $77,850
Arizona $72,840
Arkansas $52,540
California $79,090
Colorado $68,570
Connecticut $70,240
Delaware $66,510
District of Columbia $70,530
Florida $60,320
Georgia $58,090
Hawaii $67,540
Idaho $59,340
Illinois $68,450
Indiana $62,990
Iowa $59,640
Kansas $59,930
Kentucky $57,410
Louisiana $54,610
Maine $72,600
Maryland $70,700
Massachusetts $76,400
Michigan $65,430
Minnesota $61,270
Mississippi $49,960
Missouri $58,900
Montana $58,710
Nebraska $60,240
Nevada $71,460
New Hampshire $73,850
New Jersey $71,300
New Mexico $56,690
New York $66,380
North Carolina $62,040
North Dakota $60,110
Ohio $60,600
Oklahoma $55,270
Oregon $78,160
Pennsylvania $62,550
Rhode Island $77,240
South Carolina $58,430
South Dakota $51,230
Tennessee $53,490
Texas $60,020
Utah $61,390
Vermont $68,580
Virginia $63,380
Washington $79,970
West Virginia $52,540
Wisconsin $61,680
Wyoming $61,080

How Much Does it Cost to Get a Nursing Degree?

The cost of getting a nursing degree varies based on the type of nursing program you choose. Each of the nursing positions listed above requires different degrees and certification.

•  The process to become an LVN/LPN generally costs between $2,000 and $18,000.

•  Taking an RN two-year associate program can cost $6,000 to $25,000.

•  An alternative is to become an RN through a four-year bachelor’s program. This process works similarly to most other bachelor’s degree programs and typically costs the same as a four-year college or university.

•  In addition to having already been an RN, both CNS and NP careers require advanced degrees. Typically, a masters of science in nursing (MSN) is required for both positions, which can cost between $18,000 to $57,000 in total.

•  Some choose to further their education, becoming a Doctor of Nursing Practice (DNP). These degrees can be expensive but also have the potential to increase a nurse’s salary. After a master’s degree, expect to pay around an additional $21,000 to $39,000, but your nursing salary is likely to rise, too.

There are usually costs beyond nursing school tuition. You’ll likely have to buy textbooks and supplies like a lab coat, scrubs, and a stethoscope. Many programs also charge additional lab fees each semester. Many schools will require nursing students to take out liability insurance and get some mandatory immunizations.

After graduating from your chosen program(s), you’ll also likely want to factor in the cost of licensing and exam fees as you enter the job market.

Paying for Your Nursing Degree

Becoming a nurse can be a pricey process, depending on the path you choose. But there are options available to help students pay for their nursing degree. The American Association of Colleges of Nursing has a database of scholarships for nursing schools. As you may know, scholarships don’t need to be repaid. This can make them an especially valuable resource in making ends meet as a nursing student.

In addition, federal aid, including grants, scholarships, work-study, and federal student loans could provide some relief. To apply, students must fill out the Free Application for Federal Student Aid (FAFSA®) each year.

Student Loan Forgiveness Options for Nurses

There are a number of student loan forgiveness programs available to nurses. Keep in mind that each typically has its own program requirements, so it’s helpful to review them closely to determine whether you qualify.

•  Public Service Loan Forgiveness (PSLF) forgives certain federal Direct loans after 10 years of qualifying, on-time payments. This program is open to borrowers who work for a qualifying organization. You can find details online about qualifying for the PSLF program to see if you could benefit from it.

•  The NURSE Corps Loan Repayment Program will repay a portion of a nurse’s eligible student loans when they work full time at a Critical Shortage Facility or as a faculty member at a qualifying nursing school. Those accepted by the program are eligible to have 85% of their outstanding loan balances forgiven over a two-year commitment.

•  The National Health Service Corps Loan Repayment Program provides loan forgiveness to qualifying nurses who commit to working for two years in clinical practice at a National Health Service Corps site.

Repaying Student Loans after Nursing School

If you borrowed federal or private student loans to help you pay for nursing school, developing a repayment strategy can be valuable. Not only will it set you on a path to repaying your debt, it can teach you valuable budgeting skills as well.

If you don’t qualify for any of the available loan forgiveness options, federal student loans come with a few different student loan repayment plans so you can find the option that works best for your budget.

If you relied on private student loans to help you pay for your tuition at nursing school, you may want to review your repayment terms. Each lender will determine their own terms and conditions for the loans they lend.

As you develop a game plan to help you repay your student loans, one option to consider is student loan refinancing.

When you refinance student loans, you take out a new loan with new terms. This loan can then be used to repay your existing loans. If you borrowed multiple loans, that means you could have the option to consolidate them into one single monthly payment — potentially with a lower interest rate.

However, it’s important to keep in mind a couple of factors:

•  You may pay more interest over the life of the loan if you refinance with a longer term.

•  If you are considering refinancing federal student loans, know that they come with an array of benefits and protections that are forfeited if you refinance.

To see how refinancing could impact your student loan, you can take a look at this student loan refinancing calculator.

The Takeaway

Nursing can be a challenging but rewarding profession, and the average nurse salary of $93,600 could provide a well-paying career. There are different kinds of nursing degrees and positions, so it’s wise to do your research to understand what each one requires and which might best suit your needs. Also, financing your education as a nurse can also need research to understand the obligation and how you might fund it.

Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.


With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

FAQ

Which U.S. state pays nurses the most?

The state that pays nurses the most is the state of Washington, where LPNs make an average of $79,970 a year. California isn’t far behind with an annual LPN salary of $79,090. Keep in mind that salaries for LPNs are at the lower end of the nursing salary spectrum. An RN in Washington state makes an average of $99,519 a year by comparison.

What type of nurse makes $100,000 a year?

A nurse practitioner (NP) can make well over $100,000 a year. For example, in 2024, the average NP made $137,000 annually. This type of nurse has an advanced degree, typically a master’s of science in nursing. These professionals provide many of the same services as doctors, including performing medical procedures and prescribing medication.

Can an RN make $200,000 a year?

Yes, it’s possible for an RN to make $200,000 a year, especially if they work in high-demand positions such as certified nurse anesthetists or travel nursing, or hold an administrative or leadership position.


SoFi Student Loan Refinance
Terms and conditions apply. SoFi Refinance Student Loans are private loans. When you refinance federal loans with a SoFi loan, YOU FORFEIT YOUR ELIGIBILITY FOR ALL FEDERAL LOAN BENEFITS, including all flexible federal repayment and forgiveness options that are or may become available to federal student loan borrowers including, but not limited to: Public Service Loan Forgiveness (PSLF), Income-Based Repayment, Income-Contingent Repayment, extended repayment plans, PAYE or SAVE. Lowest rates reserved for the most creditworthy borrowers.
Learn more at SoFi.com/eligibility. SoFi Refinance Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.


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

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

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

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Woman standing outside a building on her college campus with her hair in a ponytail and carrying a backpack.

How to Study for the LSAT

Law school is a major undertaking requiring a lot of hard work as a student trains for a challenging and rewarding career. And a key part of getting accepted into law school can be scoring well on the Law School Admission Test (LSAT). What’s more, a high LSAT score can potentially increase a student’s scholarship and other funding opportunities to pay for law school.

But getting an LSAT score you’re proud of can take some planning and preparation. To help with that, this guide will break down how to study for the LSAT. In addition, you’ll learn some helpful study tips, test-taking strategies, and important dates to remember.

Key Points

•   Know the LSAT structure: The test includes logical reasoning, reading comprehension, and an unscored writing section.

•   Start with a diagnostic test to assess your baseline and tailor your study plan based on your strengths and weaknesses.

•   Use official prep tools like LSAC’s LawHub or Khan Academy, and aim for 150–300 hours of total study time.

•   Simulate real test conditions with full timed practice exams to build endurance and improve pacing.

•   Retaking is common and often beneficial — many test takers improve their score on a second attempt.

What Is the LSAT?

The LSAT is a standardized test that many law schools require. It is considered to be a good predictor of how well a student will perform in law school.

The test contains four sections, plus a written essay, and test takers typically have about three hours to complete the test. The LSAT score range goes from 120 to 180, with the average score currently being approximately 150 to 152.

What Does the LSAT Cover?

The LSAT is administered in two distinct sections. One section is a multiple choice exam that is divided into categories including logical reasoning and reading comprehension.

There is also a writing section that is administered separately from the multiple choice portion of the LSAT. Test takers are allotted 35 minutes for each of the four sections required for the exam. These sections are:

•   Two logical reasoning sections, 24 – 26 questions each

•   Reading comprehension, 26 – 28 questions

•   Experimental section (typically used to develop questions for future LSATs), 24 – 28 questions

•   Writing. This section is administered separately from the multiple choice portion of the exam, but test takers will be limited to 50 minutes.

The writing section gives test takers a debatable issue to articulate a stance on. The written section is available to test takers eight days prior to their testing date.

It can be taken at any time during this testing window and is proctored online using secure software. Although this section is not used to calculate the score, it is still sent to law schools and used to some degree for admissions.

The experimental portion of the exam is also unscored. This section is used internally for measuring the difficulty and effectiveness of LSAT questions. However, test takers will not be aware of which section is experimental.

The LSAT can be taken in person or remotely via a proctored online portal.

Recommended: What Is the Average Student Loan Debt After College?

What Is a Good Score on the LSAT?

As mentioned above, the LSAT scoring system ranges from 120 to 180, with a current average of 150 to 152.

What qualifies as a good score will vary depending on your outlook and how competitive the law schools are that you plan on applying to. For instance, if you want to attend one of the top-tier law schools in America (that is, one of the top five programs), you will likely need at least a 170 on the LSAT.

How Do I Prepare for the LSAT?

Preparing for the LSAT can involve time and energy. There are a variety of methods. Some people choose just one and stick with it. Others combine a couple of techniques. There’s not one best way to study for the LSAT; it’s a personal choice.

Preparing for the LSAT has become a full-fledged industry, with a slew of specialized tutors, study guides, and courses offering their services. Among the options:

•   LSAT preptests

•   LSAT prep books

•   Test prep companies and tutoring

•   Official LSAT Prep on Khan Academy

•   Study groups with other students/prospective test takers (such as prelaw students at your college).

Read on to learn more about a couple of the methods.

Taking Official LSAT Prep Tests

How to study for the LSAT? Get organized before you start planning your applications for postgrad education. One popular option to consider is signing up for the LSAT Prep® on LSAC’s LawHub.

LSAC stands for the Law School Admission Council, a nonprofit that supports access, equity, and fairness in law school admissions.

By signing up, you can get access to four full practice tests. If you want further practice, you can purchase a service known as LawHub Advantage. This provides one year of access to an extensive library of full Official LSAT PrepTests® for $120.

Recommended: What Is the Maximum Student Loan Amount for a Lifetime?

Tailoring a Study Plan to Your Needs and Goals

Following your first pretest, you now have a starting point to build from to reach your target score. In some cases, you may excel in one section and struggle in another.

Does reading comprehension have you stumped? As part of your LSAT preparation, brushing up on vocabulary and dedicating more time to related practice questions could be beneficial.

If your GPA is on the lower end of the spectrum, you might want to set a goal for scoring higher than a law school’s median LSAT score to help improve your candidacy.

As noted above, you have an array of options in terms of how to prepare for the LSAT. For some prospective test-takers, paying a tutor or for a prep class can help keep them accountable. For others, the social aspect of joining a study group at their college can be the right fit. And still others may prefer online learning as they work towards law school admission.

Making a LSAT Study Schedule That Works for You

The amount of time you plan to study for the LSAT may be influenced by how much you’d like to improve your score, based on the pretest.

•   A general bare minimum baseline is around 120 hours. Those that are interested in a significant score boost or other factors may require more time.

•   Kaplan Test Prep generally recommends that students spend between 150 and 300 hours, spread out in 20- to 25-hour weekly increments, preparing and studying for the LSAT.

•   Many LSAT takers are also juggling other responsibilities, like finishing an undergraduate degree, working, and taking care of family.

•   Consider all of your responsibilities and demands on your time as you build your study schedule. The goal is to set a schedule that will help you prepare effectively and prevent burnout.

•   Bridging a narrower gap between your initial score and target score may require less study time to achieve, but individuals with higher LSAT scores may be more likely to secure scholarships to help pay for school.

•   If you’re still in undergrad, think about taking an elective course that is geared towards the LSAT, such as logic, to simultaneously help stay on track for graduation and preparing for the LSAT.

Simulating Actual LSAT Testing Conditions

While day-to-day studying can be broken down into shorter segments to work on logic games, vocabulary, and mastering concepts, it may be helpful to take several LSAT sample tests in full.

Creating realistic testing conditions is as simple as following the 35-minute time limit per section, sitting at a desk, and getting up on a Saturday morning to take it. Not only could this approach provide a more accurate LSAT score sampling, but also build endurance and time management skills in a test environment.

In between practice tests, allowing time for review and doing more practice problems can also help gauge growth and identify which section needs the most improvement.

LSAT Test-Taking Tips

As much as the LSAT is about mastering logic and thinking analytically, test takers can also benefit from an in-depth understanding of the LSAT itself. On top of finding and adopting the best ideas for how to prepare for the LSAT, these test-taking tips could be helpful.

Answering Every Question

Unlike the SAT, the LSAT does not deduct points for incorrect answers. That’s right: You’re not penalized for getting something wrong. Since leaving questions blank could potentially result in losing out on coveted points, it may be worth allotting the last 30 seconds of the section to fill in an answer bubble for remaining questions.

If you’re stumped by a difficult question, you might benefit from entering in your best guess and moving on to dedicate time and effort to questions you feel more confident answering.

Keep in mind that once a section ends, you are not permitted to go back and answer questions or correct responses.

Using Process of Elimination

Multiple-choice questions on the LSAT can contain similar answers that can trip up test takers, especially when rushing.

Given the test’s emphasis on logic and analytical thinking, employing a process of elimination strategy can help get rid of flawed answers one by one and avoid choosing a well-crafted, misleading answer.

Relax… It’s Okay to Retake the LSAT

Given the importance the LSAT plays in law school acceptance, it may come as no surprise that many people retake the test.

According to an LSAC report, at a given test administration, about 29% were second-time test takers. Another finding was that second-timers in a given year typically raise their score by two or three points. (Keep in mind that law school admission committees will likely receive all of your test scores.)

If you’re worried about your nerves getting the best of you, planning to take the LSAT well-ahead of admission deadlines could help alleviate some stress since you’ll have another chance or two to retest if needed.

There are limits to the number of times the LSAT can be taken within certain timeframes, including five times since 2020 and seven tests in a lifetime. It’s possible to cancel test scores if you are unhappy with how you did, but canceled scores will count towards the totals mentioned here.

Important LSAT Dates

When figuring out how to start studying for the LSAT, it might be helpful to map out a timeline of test dates and law school admission schedules. There are multiple options and locations for testing dates, as well as law school application deadlines to be aware of.

If you’re hoping to pursue your J.D. within a year or two, it may be easier to work backwards from when you actually need to apply to law school. Deadlines for law school applications can vary, with many regular-decision dates falling between February and March and early-decision ones in November or December.

Many experts recommend taking the LSAT in June so there’s time to retake it in the fall, if needed. Scores are generally sent three weeks after the exam on a pre-specified release date. The current schedule of 2025-2026 test dates runs from January through June; for updates, visit LSAC’s site.

Paying for Law School

Education is an investment — both in time and money. Typically, law school spans three full-time academic years, and the rigorous schedule can make it challenging to work outside of summer internships. Here’s some important information about paying for law school:

•   While the payoff can be considerable for legal professionals, the upfront cost can be a heavy lift. When thinking about how to pay for law school, know this: Using the most recent data, the average total cost of law school is $217,480, according to the Education Data Initiative. The average in-state tuition for public universities was $31,430, while the average for private universities reached $57,860.

•   When law school scholarships and financial aid are not enough, students can take out federal or private student loans to help pay the difference for law school. Coming up with a plan to pay for law school early could help put you on track to tackling law school debt and focusing on your budding law career.

•   Students or graduates still paying for their law school (and potentially undergraduate) student loans could opt for student loan refinancing and combine payment under one loan. This may make payments simpler and/or more affordable, but it’s important to note that if you refinance for an extended term, you may pay more interest over the life of the loan. In addition, refinancing federal student loans means forfeiting federal borrower benefits and protections, so it won’t be the right choice for everyone.

The Takeaway

Getting a good score on the LSAT could help students get into their preferred law school. Familiarizing themselves with the test, dedicating plenty of time to studying and prep, and taking practice tests can be important parts of the study process.

Along with getting into law school, students will also be thinking about how to pay for their education. Financial aid, scholarships, student loans, and refinancing undergrad loans, are all options to consider.

Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.


With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

FAQ

How long do you need to study for the LSAT?

It’s recommended that students study for 150 to 300 hours for the LSATs, and to spread out their studies into 20- to 25-hour weekly increments. The bare minimum total study time for the LSATs is generally 120 hours.

What is the best way to study for the LSAT?

The best way to study for the LSAT depends on the test taker and what works best for them. Study methods include official LSAT prep tests, LSAT prep books, and taking past LSAT exams through the Law School Admission Council (LSAC), using test prep companies and tutoring, and joining study groups with other prospective test takers. A student may want to experiment with different methods to see what is most effective for them.

Is 170 on the LSAT realistic?

It’s possible to score a 170 on the LSAT — in fact, that’s the score you’ll likely need to get into the top law schools. However, a 170 is a top score, and it can be very hard to attain. (The average score on the LSAT is 150 to 152.) Scoring a 170 requires dedication and a substantial time commitment to intensive, focused, and consistent study.


SoFi Student Loan Refinance
Terms and conditions apply. SoFi Refinance Student Loans are private loans. When you refinance federal loans with a SoFi loan, YOU FORFEIT YOUR ELIGIBILITY FOR ALL FEDERAL LOAN BENEFITS, including all flexible federal repayment and forgiveness options that are or may become available to federal student loan borrowers including, but not limited to: Public Service Loan Forgiveness (PSLF), Income-Based Repayment, Income-Contingent Repayment, extended repayment plans, PAYE or SAVE. Lowest rates reserved for the most creditworthy borrowers.
Learn more at SoFi.com/eligibility. SoFi Refinance Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.


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

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

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

SOSLR-Q425-040

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A smiling therapist, dressed in a blazer, sits in an armchair, taking notes while talking to a couple (seen from behind).

How Much Does a Therapist Make a Year

The average annual pay for a therapist in the U.S. is $63,780, according to the U.S. Bureau of Labor Statistics.

But there are many factors that can influence this number, including experience, specialty, and location. If you’re interested in starting a career as a therapist, employment demand is expected to be strong.

Here’s a closer look at what a therapist does and how much money they can make in a year.

Key Points

•   The average annual salary for therapists in the U.S. is around $63,780, according to the Bureau of Labor Statistics.

•   Therapists’ salaries can vary widely based on factors such as location, type of practice, and years of experience, with some earning over $110,000 per year.

•   Therapists who specialize in areas like marriage and family therapy, clinical psychology, or occupational therapy often earn higher salaries compared to those in general practice.

•   Therapists can work in various settings, including private practices, hospitals, schools, and community health centers, each with its own salary range and benefits.

•   The job outlook for therapists is positive, with a projected growth rate that is faster than the average for all occupations.

What Is a Therapist?

If you like talking with people and helping them work through issues to improve their lives, a career as a therapist might be a good fit.

Therapists generally specialize in working with specific groups of people or in certain areas. For instance, some might concentrate on working with children, older adults, or married couples, or with people who need help with issues like eating disorders or drug abuse. Therapists can work in different settings, including health practitioner offices, hospitals, schools, private practices, and home health care services.

It can be a long path to becoming a therapist. Therapists need an undergraduate degree and typically have a master’s degree in psychology or in a related field or specialty. There are also hands-on experience requirements through supervised clinical work. States have different requirements when it comes to obtaining a license, but the process usually involves filling out an application and passing an exam.

There are other skills that go beyond education that help make a good therapist. Soft skills like strong communication and organization skills, being a good listener, and having empathy and patience are also important to being successful in the profession.

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Therapist vs. Psychologist

The title “therapist” is often used broadly to include various professions. It’s sometimes used interchangeably with “psychologist,” but there are differences between the two.

The educational requirements are heftier for those interested in pursuing a career as a psychologist. Psychologists typically need a doctoral degree in psychology and to pass certain exams to be able to secure a license.

There is strong demand for psychologists. The Labor Department forecasts employment of psychologists to grow 6% from 2024 to 2034. Over that decade, there’s projected to be about 11,800 openings a year.

How Much Do Therapists Make Starting Out?

When you’re just starting out as an entry-level mental health therapist after all those years of education and clinical work, you can expect to earn an average total pay of around $53,236 a year, according to ZipRecruiter. As you grow in your career and gain experience, though, your salary will increase. The top 10% of therapists earn more than $111,610 per year.

But keep in mind that there are many considerations when it comes to determining a good entry-level salary, including location, experience, skill level, specialty, and demand.

What Is the Average Salary for a Therapist

The average median pay for a therapist is $63,780, according to the U.S. Bureau of Labor Statistics. That breaks down to $30.66 per hour.

The growth rate for therapists is expected to grow 13% from 2024-34 — much faster than the average.

There’s a large range in how much a therapist can make. The lowest 10% earned less than $42,610, while the highest 10% earned more than $111,610 per year.

Note that while some therapists will choose to bill by the hour, when it comes to compensation, there’s a difference between being paid salaried vs paid hourly.

Recommended: What Is Competitive Pay?

What Is the Average Therapist Salary by State?

Wondering how a therapist’s salary compares to the highest-paying jobs in your state? Here’s a breakdown of what the average therapist makes by state.

State Annual Mean Wage
Alabama $55,260
Alaska $69,970
Arizona $54,830
Arkansas $52,710
California $74,660
Colorado $89,280
Connecticut $94,830
Delaware $64,840
Florida $69,450
Georgia $67,960
Hawaii $145,360
Illinois $66,640
Indiana $58,430
Iowa $72,070
Kansas $63,480
Kentucky $65,100
Maine $72,820
Maryland $84,900
Massachusetts $68,430
Michigan $59,210
Minnesota $72,900
Mississippi $51,480
Missouri $70,010
Montana $43,300
Nebraska $68,000
New Hampshire $60,490
New Jersey $91,980
New Mexico $68,660
New York $66,710
North Carolina $60,540
North Dakota $70,330
Ohio $78,300
Oklahoma $59,830
Oregon $94,520
Pennsylvania $67,940
South Carolina $51,940
South Dakota $50,120
Tennessee $46,510
Texas $54,900
Utah $85,550
Vermont $66,260
Virginia $78,900
Washington $68,250
West Virginia $49,450
Wisconsin $43,740

Source: U.S. Bureau of Labor Statistics

Therapist Job Considerations for Pay and Benefits

Helping people better themselves and overcome problems can be a very fulfilling line of work. And there’s a need for more people to work in the mental health field.

For example, employment growth for substance abuse, behavioral disorder and mental health counselors is expected to increase 17% from 2024 to 2034, according to the Department of Labor. Because of these strong employment growth projections, being a therapist likely comes with job security.

Becoming a therapist can also bring scheduling flexibility, especially if you run your own practice. Being able to set your own hours can result in a better work-life balance. However, some therapists might have to offer after-hour sessions to work around clients’ schedules.

Working one-on-one with people and forging relationships can also be a satisfying perk, but it can also be emotionally stressful. That’s why this profession might not be the best fit if you tend to be more introverted.

Recommended: 10 Entry-Level Jobs with Little Human Interaction

Pros and Cons of Therapist Salary

The educational requirements for a therapist are higher than other professions, which could mean you graduate with a hefty debt load that can put pressure on future earnings.

However, your earnings potential increases as you gain more experience. Experienced therapists can earn six figures per year; and for those that open their own practices, earnings could be even higher.

The pay and benefits can differ depending on where a therapist works. For instance, joining a bigger practice or hospital could bring about additional benefits like retirement savings plans and health care benefits compared to a smaller or solo practice.

The licensure requirements to become a therapist can be time consuming. Each state has its own licensing requirements that you’ll have to navigate. There can also be continuing education requirements in order to maintain your license.

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

The Takeaway

Becoming a therapist can be very rewarding on a personal, professional, and financial level. Be prepared for the path it takes to get to this career: an undergraduate degree, a master’s degree in a specialized area, clinical experience, the state license and exam process, and continuing education.

Take the time to evaluate your budget. The education requirements could mean taking out student loans, which can put strain on your budget. Online tools like a money tracker app can help you create a spending plan that’s right for you.

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

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

FAQ

What is the highest-paying therapist job?

According to the Bureau of Labor Statistics, a therapist can earn upwards of $111,610 a year.

Do therapists make $100K a year?

While a typical mental health therapist makes around $63,780 a year, it is possible to earn $100,000 or more a year. Salaries often vary depending on experience, specialization, and location.

How much do therapists make starting out?

Early in their career, a therapist earns an average of $53,236 a year. But with more experience, compensation can increase to the average of $63,780 or more.

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.

This content is provided for informational and educational purposes only and should not be construed as financial advice.

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®

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30 Low-Stress Jobs for Introverts Without a Degree

30 Best Jobs for Introverts

People who are introverts can succeed in almost any job that interests them. Contrary to what many people might think, introverts aren’t necessarily shy, but they do like working independently or in small groups. They typically are drawn to inner thoughts and ideas versus focusing on external matters. In addition, they may prefer having some quiet time to reflect and recharge instead of a job that requires nonstop meetings.

Thankfully, there are plenty of jobs that can suit this personality type and offer a challenging and fulfilling career path. Read on to learn more about this topic.

What Makes the Ideal Job for an Introvert?

According to conventional psychology, introverts prefer to spend time with just one or two people, rather than larger groups or crowds. They’re not necessarily loners; in fact, many introverts have highly developed social skills. However, introverts tend to gravitate toward situations and environments where they feel less pressure to react or respond quickly or to engage with multiple people (say, constantly leading major team meetings).

An ideal job for an introvert may allow them to:

•   Work independently

•   Work alone or in quiet spaces that allow them to think and deploy their analytical and decision-making skills

•   Focus on one task at a time

•   Engage one-on-one (or “one on a few”) instead of in large groups

•   Leverage their empathy and creativity

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What Kind of Work Does Not Fit an Introvert

As noted above, jobs that require a lot of collaboration with or presentations to large groups of people may not be a great fit for introverted people. Introverts are likely to be less comfortable with jobs that involve loads of group brainstorm sessions or that require them to regularly verbalize their thoughts and feelings to multiple people at once.


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

30 Jobs for Introverts Without a Degree

Finding a rewarding job as an introvert means finding a career that suits your interests and caters to your inner-directed personality type, as described above.

Here are 30 jobs that can be a great match for introverts, with salary information from the Bureau of Labor Statistics:

1. Web Developer or Digital Designer

•   2023 Median Salary: $92,750

•   Primary Duties: This career is all about the design, coding, and development of websites for optimal performance and user experience. This could be a job where an introvert works solo all day, or it might involve small team collaborations. With its union of creativity and analytical insights, web development can be a great option for introverts.

2. Farmer or Rancher

•   2023 Median Salary: $83,770

•   Primary Duties: The image of farmers and ranchers working solo in wide open spaces is iconic. While that can be true, this career may involve some interaction with others on a work team. Primary duties are overseeing the production of crops, livestock, and dairy products.

3. Psychologist

•   2023 Median Salary: $92,740

•   Primary Duties: Psychologists can work in a variety of settings, from a medical center to private practice, but the field involves assessing and supporting cognitive and emotional wellness. This can be a very rewarding career for introverts who want to channel their empathy and social skills.

Recommended: Could a Small Business Loan Be Right for You?

4. Plumber, Pipefitter, or Steamfitter

•   2023 Median Salary: $61,550

•   Primary Duties: This career is all about installing and repairing pipe fixtures. There aren’t many meetings, nor lots of large-group interactions. Introverts can enjoy the focus and problem-solving this job demands.

5. Postal Service Worker

•   2023 Median Salary: $56,510

•   Primary Duties: Typically, this work involves collecting, sorting, and delivering mail to businesses and private residences or else helping post office customers. It can give introverts the opportunity to work alone or have small-scale interactions.

6. Social Worker

•   2023 Median Salary: $58,380

•   Primary Duties: Social workers help people resolve problems in their lives. Introverts who are empathetic listeners, enjoy helping others, and find lots of one-on-one interaction satisfying will likely enjoy social work.

7. HVAC Technician

•   2023 Median Salary: $57,300

•   Primary Duties: This job requires workers to assemble and repair heating, cooling, and ventilation systems. It can suit the mechanically inclined and those who like to be immersed in hands-on problem solving.

8. Environmental Scientist

•   2023 Median Salary: $78,980

•   Primary Duties: In this job, a person uses their knowledge of nature to improve the environment and human health. It can involve time in the outdoors and the lab, with opportunities to focus on and interpret research data.

9. Delivery Truck Driver

•   2023 Median Salary: $39,950

•   Primary Duties: For those who like lots of solo time and the feeling of being on the open road, being a delivery truck driver can be a dream job. Duties involve the pickup, transport, and delivery of packages or goods from one location to another.

10. Writer or Author

•   2023 Median Salary: $73,690

•   Primary Duties: Writing is a diverse career, ranging from writing fiction books to completing technical writing for manufacturers. It can allow an introvert to explore a particular passion of theirs in print and often involves a good amount of independent work.

11. Librarian

•   2023 Median Salary: $64,370

•   Primary Duties: This can be a fulfilling career for introverts; most interactions involve collaborating with individuals seeking help with research. Plus, it taps both creativity and problem-solving skills and usually has a not too frenetic pace. Bonus: Librarians tend to work in very quiet environments.

12. Physician

•   2023 Median Salary: $236,000

•   Primary Duties: This demanding career requires a high level of training. With a salary well into the six figures, this is one of the highest paying jobs on our list. It offers the rewarding work of interacting one-on-one with patients and other members of a medical team to help people achieve optimal health and to treat illnesses.

13. Roofer

•   2023 Median Salary: $50,030

•   Primary Duties: For introverts who value independence and enjoy problem solving, being a roofer can be a good fit. Most of the workday is spent replacing, repairing, and installing roofs on buildings and houses. Working remotely is not an option.

Recommended: Should I Sell My House Now or Wait

14. Surveying and Mapping Technician

•   2023 Median Salary: $48,940

•   Primary Duties: Collecting data and taking land measurements in order to create maps of the Earth’s surface is a unique job, melding creative and analytical pursuits. It’s unlikely to involve many large meetings and can give introverts the “think time” they love.

15. Mechanic

•   2023 Median Salary: $51,940

•   Primary Duties: This job can be a good fit for those who like to work with their hands and problem-solve with a small team as they troubleshoot and repair automobiles and other forms of transportation.

16. Bookkeeper

•   2023 Median Salary: $47,440

•   Primary Duties: Love a good spreadsheet and balancing finances? Being a bookkeeper can provide satisfying work for those who enjoy working with numbers. The role also has potential as a work-at-home job for retirees.

17. Interpreter or Translator

•   2023 Median Salary: $57,090

•   Primary Duties: Provided one has deep knowledge of a foreign language, this can be a solid job for introverts, collaborating one-on-one or in small groups to convert one language into another. Some jobs may strictly involve texts versus in-person interaction.

18. Software Quality Assurance Analyst or Tester

•   2023 Median Salary: $101,800

•   Primary Duties: Techies, this one is for you: This path typically involves testing software to identify and debug problems or to learn how the software works. This can offer plenty of focused work time.

19. Marketing Manager

•   2023 Median Salary: $156,580

•   Primary Duties: This potentially high-earning career focuses on managing outreach to build a business or a brand. This can tap an introvert’s creativity and analytical skills. Small team meetings and travel to meet with clients may be part of the job.

20. Photographer

•   2023 Median Salary: $40,760

•   Primary Duties: Photographers produce, shoot, and potentially edit (hello, Photoshop!) images for personal or professional use. It’s a highly creative pursuit that may suit an introvert’s personality type.

21. Proofreader

•   2023 Median Salary: $48,790

•   Primary Duties: This can be a satisfying job, tapping an introvert’s analytical abilities and giving them space to think as they read content and correct spelling, punctuation, and grammatical errors. Proofreading is usually a quiet, somewhat solitary profession.

Recommended: 7 Different Types of Budgeting Methods

22. Landscaper

•   2023 Median Salary: $37,360

•   Primary Duties: There’s not too much large group interaction if you’re a landscaper. Workdays are spent maintaining outdoor grounds by mowing, trimming, planting, watering, fertilizing, raking, and other methods.

23. Physician Assistant (PA)

•   2023 Median Salary: $130,020

•   Primary Duties: Assisting both physicians and patients can put an introvert’s empathy and technical know-how to good use. It does require specialized training: A PA is one step below doctor and a step above nurse — similar to a nurse practitioner.

24. Animal Trainer

•   2023 Median Salary: $44,910

•   Primary Duties: Dog, horse, and other animal lovers may find this to be an ideal career, with time spent teaching animals obedience and staying calm, and assisting people.

25. Medical Transcriptionist

•   2023 Median Salary: $37,060

•   Primary Duties: Medical transcriptionists, as the name indicates, transcribe voice recordings from physicians and nurses and convert them into written reports. This can provide a career with plenty of “quiet time” for detail-oriented introverts.

26. Floral Designer

•   2023 Median Salary: $34,690

•   Primary Duties: A floral designer can spend their days arranging decorative displays using live, dried, or silk flowers, which can be a creative endeavor without too many big meetings.

27. Data Scientist

•   2023 Median Salary: $108,020

•   Primary Duties: Data scientists deploy analytical tools and techniques to pull valuable insights from data. This is a growing field in today’s digitized world.

Recommended: How to Make a Personal Budget

28. Teacher

•   2023 Median Salary: $64,390

•   Primary Duties: Teachers and instructors are responsible for helping students of different ages learn various topics and skills. The job may tap an introvert’s empathy, and it may involve small meetings with students or their parents. Bonus: Teaching can be one of those jobs that pay off student loans through the Public Student Loan Forgiveness (PSLF) program.

29. Hand Sewer

•   2023 Media Salary: $32,240

•   Primary Duties: Technically speaking, this job is about sewing and finishing items with needle and thread. It can suit craft-oriented, creative, and independent workers who like the mental space it provides.

30. Accountant

•   2023 Mean Salary: $79,880

•   Primary Duties: An accountant prepares or reviews financial records, tapping their analytical skills. This career can incorporate interactions with individual clients or businesses, which may suit introverts well.

Recommended: 25 Best Jobs for Extroverts That Pay Well

The Takeaway

There are many challenging and satisfying jobs that can suit introverts, from writer to data scientist to physician. In fact, many high-paying and rewarding jobs are well-suited to the personality traits of an introverted person.
Introvert or not, everyone can benefit from better budget planning and tools that give you back control of your finances.

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

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

FAQ

What are good jobs for introverts?

There are many jobs that suit introverts well and leverage their empathy, creativity, and analytical skills. These can include being a research librarian, physician, or landscaper, among other careers.

Is self-employment good for introverts with anxiety?

Self-employment can be a good fit for introverts who experience anxiety working with large teams or with multiple people. However, self-employment can also create stress if it requires you to find your own clients or manage a large workload on your own.

What is a good job for someone with introverted qualities?

Jobs that allow you to work independently and in quiet environments at least some of the time are generally better for introverts, as are those that involve one-on-one interaction versus large group meetings.


Photo credit: iStock/Wiphop Sathawirawong

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

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

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

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

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Average US Salary by State and Year

Average US Salary by State

The average salary in the U.S. is $66,622, according to the latest data from the Social Security Administration. How your salary compares will depend on your industry and skilI set, as you’d expect. What you might not realize is that your salary is also greatly influenced by where you live, since salaries go hand in hand with the cost of living.

Here’s a closer look at the average salary in the U.S. and how income varies from state to state.

Key Points

•   The average salary in the US varies depending on factors like occupation, location, and experience.

•   Recent data indicate an average household income of $66,622 in the U.S.

•   The cost of living and regional differences can impact salary levels across the country.

•   High-paying states are typically on the East and West coasts, while pay tends to be lower in the South.

•   It’s important to research salary ranges for specific occupations and locations when considering job opportunities.

What Is the Average US Salary (2025)

The national average salary is $63,795. That is the sum of all incomes divided by the number of workers. Where someone lives, their industry, education level, and current demand for that job all contribute to how much a worker earns per year.


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

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RL24-1993217-B

Average Salary vs Median Salary: What’s the Difference?

The Bureau of Labor Statistics (BLS) provides data on median pay. As of Q4 2024, the median weekly earnings of full-time workers was $1,192, or $61,984 per year. The median is the midpoint in the data set, with 50% of incomes falling above that figure, and 50% below.

Why are the average and median income figures different? With averages, unusually high or low numbers can skew the results. For instance, multi-millionaires or billionaires might drive the average higher than what the typical worker actually makes. The median is less affected by outliers.

US Average and Median Salary by State in 2025

The following chart shows both the average and median income (in single income households) in each state, according to data from Forbes and the U.S. Census Bureau.

State

Average

Median

Alabama $53,394 $59,605
Alaska $66,130 $82,512
Arizona $63,045 $66,340
Arkansas $51,251 $54,658
California $76,960 $74,819
Colorado $71,968 $77,331
Connecticut $73,736 $81,285
Delaware $65,998 $75,674
Florida $60,216 $62,973
Georgia $61,256 $62,468
Hawaii $65,042 $78,745
Idaho $55,640 $68,781
Illinois $67,122 $66,950
Indiana $56,410 $60,351
Iowa $56,410 $61,283
Kansas $56,264 $64,518
Kentucky $54,018 $57,509
Louisiana $53,435 $53,821
Maine $60,008 $66,369
Maryland $73,632 $81,293
Massachusetts $80,330 $81,170
Michigan $60,590 $64,579
Minnesota $66,706 $72,319
Mississippi $47,569 $51,554
Missouri $57,574 $59,605
Montana $55,910 $65,242
Nebraska $58,074 $63,813
Nevada $58,906 $64,412
New Hampshire $66,102 $84,017
New Jersey $73,986 $83,102
New Mexico $57,512 $56,766
New York $78,624 $69,135
North Carolina $59,717 $61,811
North Dakota $59,051 $66,813
Ohio $59,883 $61,617
Oklahoma $53,456 $55,362
Oregon $66,706 $70,266
Pennsylvania $61,922 $66,923
Rhode Island $66,602 $72,515
South Carolina $54,246 $59,661
South Dakota $53,227 $63,862
Tennessee $56,035 $59,052
Texas $61,235 $61,460
Utah $61,069 $78,917
Vermont $62,774 $65,712
Virginia $70,054 $75,756
Washington $78,125 $86,558
West Virginia $52,208 $57,979
Wisconsin $59,509 $66,106
Wyoming $57,928 $61,866

Recommended: Salary to Hourly Calculator

Why Do States Have Different Average Salaries?

The chart shows that the average salary in some states is quite different from the average salary nationwide. That’s partly because the cost of living, which affects how much a company pays its employees, varies significantly by state.

Also, inflation impacts states to varying degrees.

In addition, industries with a concentrated presence in certain states — such as banking or automobile manufacturing — can affect the overall quality of job opportunities in that area.

Which Regions Pay the Most?

Salaries tend to be higher in some areas of the country. Cities on the West Coast and in the Northeast have some of the highest average salaries:

•   Massachusetts

•   New York

•   Washington

•   California

•   New Jersey

•   Connecticut

•   Maryland

Remember, while these states have higher incomes, they may also have a much higher cost of living and higher housing prices.

Recommended: 25 Highest-Paying Jobs in the US

Which Regions Pay the Least?

The South is home to states that tend to pay the least:

•   South Carolina

•   Kentucky

•   Louisiana

•   Alabama

•   Arkansas

•   West Virginia

•   Mississippi

To determine what your personal cost of living is, try tracking your expenses with a free budget app for a few months.

Recommended: Biweekly Money-Saving Challenge

Should You Move to Make More Money?

It’s important to remember that just because a state has a higher average salary, that doesn’t mean it’s more profitable for workers to live there. Higher salaries tend to correlate with a higher cost of living.

Before making a major move, first try living below your means. One reason that people who make more money still have trouble paying their bills is the phenomenon of lifestyle creep. This is when your so-called needs expand to consume your current salary.

One of the most effective ways to counteract lifestyle creep is to downsize your home. Reducing your housing expenses to less than 30% of your gross income can help you pay down debt, increase savings, and become more conscious of how lifestyle choices affect spending.


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

The Takeaway

The average annual average salary in the U.S. is $66,622. The median annual salary, which is often less skewed by outlying numbers, is $61,984. It’s worth noting that average and median salaries vary quite a bit by state. States in the Northeast and on the West Coast tend to pay higher salaries, while those in the South often pay less. What’s stopping people from moving to a higher paying state? Often, it’s housing prices, which rise along with the cost of living in “richer” states.

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.

SoFi helps you stay on top of your finances.

FAQ

How much do the top 10% of Americans make per year?

The top 10% of Americans earn $167,639 per year. Some top earners live in higher cost of living areas, so it can be more revealing to see how much the top 10% earn in your state.

What percentage of Americans make over $75K?

Only 12.1% of Americans make in the $75,000 to $99,999 range. An additional 17% make between $100,000 and $149,000, and 15.7% earn in the $50,000 to $74,999 range.

Which U.S. state has the highest salary?

Massachusetts is the state with the highest annual income of $76,600. This salary is significantly more than the national average salary of $63,795.


About the author

Jacqueline DeMarco

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.



Photo credit: iStock/artpipi

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

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

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

This content is provided for informational and educational purposes only and should not be construed as financial advice.

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.

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