Job growth is an important consideration when choosing a career. Some of the fastest-growing jobs, according to the Bureau of Labor Statistics (BLS), include nurse practitioners, wind turbine service technicians, and data scientists.
Whether you’re preparing to enter the job market or switching careers, it’s good to know which industries and fields have the brightest hiring outlook. Keep reading for a breakdown of the fastest-growing jobs in 2024 and beyond.
Key Points
• Energy, healthcare, computers, and data science sectors drive job growth in 2024.
• Wind turbine service technicians and solar photovoltaic installers lead job growth due to renewable energy demand.
• Healthcare roles like nurse practitioners and medical managers are expanding with high earning potential.
• Data scientist and information security analyst roles are growing and are crucial for data management and cybersecurity.
• Operations research analysts and computer scientists develop innovative solutions but jobs require advanced education.
What Is Considered a Fast-Growing Job?
The BLS regularly projects which occupations will see the highest growth. The most recent data available predicts changes from 2023 to 2033. Some occupations grow faster than others as demand for those jobs rises. A fast-growing job is one that’s expected to grow at an above-average rate. Our list includes both on-site roles and remote opportunities. (Here’s a great roundup of more work-at-home jobs for retirees and stay-at-home parents.)
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Who Should Consider a Fast-Growing Job?
Fast-growing jobs are appealing to a wide range of people because it can be easier to find a position when there are more openings to go around. Companies may also be more likely to offer signing bonuses to attract talent.
However, it’s important to consider whether the current demand is sustainable over the long term. After large numbers of people rush to fill jobs in a specific industry, hiring may then taper off.
The economy is another consideration. A job that’s fast-growing in a healthy economy may be less so in a downturn or recession. In-demand jobs that are connected to entertainment, travel, or recreation, for example, may be less attractive if people are cutting back their spending on trips to the movies, vacations, or costly hobbies.
Every job has advantages and disadvantages, and fast-growing fields are no exception. Considering the potential benefits and drawbacks can help you to decide if pursuing a fast growing job makes sense for you.
Pros of Fast-Growing Jobs
Cons of Fast-Growing Jobs
More room for advancement at a faster pace
Accelerated job growth in newer industries may not be sustainable over the long term
Higher salaries if demand for qualified workers outpaces supply
Fast growth does not always translate to higher pay, especially in fields that don’t require higher education
Opportunity to get in on the ground floor of a new industry or sector that’s poised for long-term growth and development
May be more demanding in terms of the time involved and scope of duties
What to Expect in a Fast-Growing Job
One of the main advantages of a fast-growing job is that it may be easier to get hired when demand is high. Employers may also offer higher pay or enhanced employee benefits to attract talent. If a high salary is important to you, check out this list of the highest paying jobs by state.
On the other hand, landing a bigger entry-level salary isn’t guaranteed. Fast-growing tech jobs, for instance, will pay more than food service jobs even if demand is at a similar level.
If you do manage to snag a higher salary with a fast-growing job, it’s important to think about what you’ll be required to do in exchange for those paychecks. For example, accepting a role with a clean energy startup could pay well, but if the company is small, you might be expected to work well beyond the standard 40-hour week.
No matter the size of your paycheck, it helps to stay on top of your budget. A spending app lets you see all of your money in one place.
Top 10 Fastest-Growing Jobs in 2024
The BLS collects data on job growth and employment outlook across a variety of occupations. We’re breaking down the fastest growing jobs through 2033.
Job description: Also called PV installers, solar photovoltaic installers are responsible for assembling and maintaining systems that convert sunlight into energy. They may also connect the system’s solar panels to the electrical grid. This job may be salaried or hourly.
Job duties:
• Measure, cut, and assemble the support structure for solar panels
• Install solar modules, panels, and support structures, then activate and test the system.
• Perform routine PV system maintenance
Pros:
• Significant job growth is expected through 2033
• Higher education may not be required
• There may be opportunities for advancement in the field
Cons:
• Requires lifting and handling heavy equipment
• Candidates should have strong math and communication skills
• Must be comfortable with heights
3. Nurse Practitioner
Median pay: $126,260
Job growth outlook: 46%
Job description: Nurse practitioner (NP) is one of the fastest-growing healthcare jobs. NPs can act as primary care providers or specialty care providers in doctor’s offices, hospitals, and other healthcare facilities. NPs may specialize in a particular type of care, such as geriatrics or pediatrics.
Job duties:
• Assess patients to determine care needs
• Determine how to improve or manage patient health
• Develop strategies for implementing a plan of care
Pros:
• High earning potential (an all-in-one money tracker tool can help you stay on top of your money game)
• Well above-average job growth
• Opportunity to specialize
Cons:
• Potentially a highly stressful job
• Requires advanced education
• May require working long shifts
4. Data Scientist
Median pay: $108,020/year
Job growth outlook: 36%
Job description: Extract and analyze data. May collect or categorize data, offer interpretations of data, or create visual representations to showcase their findings. These individuals typically work in an office setting or from home. Because this role doesn’t require much interaction with customers or colleagues, it can be a good job for antisocial people.
Job duties:
• Collect and organize data
• Test data and use it to develop algorithmic models
• Analyze data to create recommendations for business entities
• Opportunity to work a flexible schedule or remotely
• May appeal to people looking for a creative-adjacent job
Cons:
• Some aspects of the job may be tedious or boring
• Hours can be long and require the completion of menial tasks
• Master’s degree or higher may be required for certain jobs
5. Information Security Analyst
Median pay: $120,360/year
Job growth outlook: 33%
Job description: Information security analysts review an entity or organization’s security measures and develop strategies for protecting and safeguarding data. This is one of the fastest-growing IT jobs as more companies turn their focus to increasing cybersecurity in order to prevent fraud or data hacks. This is a strong option if you need a job that will pay off your student loans.
Job duties:
• Analyze security measures in order to look for potential flaws or weak spots
• Develop cybersecurity strategies to enhance a company or organization’s data safety
• Maintain security software, including encryption and firewall services
Pros:
• Job growth may be sustainable long term as more companies seek to step up their cybersecurity efforts
• Salary ranges are competitive compared to other fast-growing jobs
• May offer opportunity for remote work
Cons:
• Some jobs may require a master’s degree or higher
• May be required to complete tasks on short notice
• Potentially stressful and high-pressure
6. Medical and Health Services Manager
Median pay: $110,680/year
Job growth outlook: 29%
Job description: Responsible for managing their facility and coordinating medical and health services for patients. Should be up to date on the latest laws, regulations, and technology in healthcare.
Job duties:
• Create and execute policies, goals, and procedures for facility
• Ensure facility complies with laws and regulations
• Recruit, train, and manage staff
Pros:
• Competitive salary
• Flexible hours
• Room for advancement for those interested in leadership roles
Cons:
• Hours may be long
• May be required to have a bachelor’s degree, a license, and/or work experience
• The job has a high rate of injury and illness
7. Physician Assistant
Median pay: $130,020/year
Job growth outlook: 28%
Job description: Responsible for examining, diagnosing, and treating patients under the supervision of a physician. PAs can work in a variety of settings, including a hospital, doctor’s office, outpatient care center.
Job duties:
• Examine and diagnose patients
• Prescribe medication
• Educate patients on their health issues
Pros:
• Can be rewarding to help care for patients
• Competitive pay, particularly for jobs at outpatient care centers and hospitals
• Can work in a variety of specialized areas, such as dermatology, pathology, or emergency medicine
Cons:
• Work can be physically and emotionally demanding
• May be required to work nights, weekends, or holidays
• Must have a bachelor’s degree or higher and be licensed
8. Computer and Information Research Scientist
Median pay: $145,080
Job growth outlook: 26%
Job description: Use expertise and experience to improve existing technologies and create new ones. The work can help fuel innovation and solve problems in science, medicine, and business, among other fields.
Job duties:
• Develop and/or improve computer software and hardware
• Create new computing languages and tools
• Design and oversee experiments on software systems
Pros:
• Opportunity to work on cutting-edge projects
• Ability to help create innovations and improvements
• Can specialize in various fields, including artificial intelligence or robotics
Cons:
• Much of the work is online, which could be an issue for extroverted people
• Most jobs typically require a master’s degree or Ph.D.
• May work long hours
9. Physical Therapist Assistant
Median pay: $64,080/year
Job growth outlook: 25%
Job description: Collaborate with physician therapists to help patients regain their mobility and manage their pain. PTAs may also be responsible for cleaning and setting up treatment areas or moving patients around the facility.
Job duties:
• Treat patients through exercise, massage, and other interventions, under the supervision of a physical therapist
• Record the patient’s progress and share progress with the physical therapist
• Help move patients in and/or out of treatment area
Pros:
• Solid earning potential
• May have the option to work part-time
• Helping patients recover can be professionally rewarding
Cons:
• Often requires standing for long periods of time
• Moving patients could put strain on the body
• May be required to work nights and weekends
10. Operations Research Analyst
Median pay: $83,640/year
Job growth outlook: 26%
Job description: Evaluate a company’s operations using advanced analytical and mathematical techniques, and recommend ways to increase efficiency and solve problems.
Job duties:
• Analyze data to identify or solve operational problems
• Provide recommendations to decision makers
• Document and present finding to support recommendations
Pros:
• May have opportunities for advancement
• Often work on teams, which can be a good fit for extroverts
• Can help businesses operate more efficiently
Cons:
• Advanced education and training are often required
• Role can be demanding
• May be required to work in the office
Fastest-Growing Jobs by 2025 Outlook
The fastest growing jobs in 2024 include all of the options listed above. Other jobs projected to have above-average growth through 2033 include:
• Occupational therapy assistants
• Actuaries
• Financial examiners
• Home health and personal care aides
• Veterinary assistants and laboratory animal caretakers
• Veterinary technologists and technicians
• Logisticians
• Veterinarians
• Substance abuse, behavioral disorder, and mental health counselors
• Epidemiologists
Which job skills will be most in demand in the future? According to the World Economic Forum, the following skills will be highly sought after by employers within the next few years:
• Analytical thinking
• Creative thinking
• Resilience, flexibility, and agility
• Motivation and self-awareness
• Curiosity and lifelong learning
• Technological literacy
• Dependability and attention to detail
Some of these are “soft skills,” meaning they’re based around communication and self-management. However, it’s clear that technological skills and computer skills will continue to be an important consideration for employers in the future.
The Takeaway
The Bureau of Labor Statistics regularly publishes lists of jobs with good potential for recent grads and career changers. This year’s list of the top fields for job growth include energy, healthcare, computers, and data science. It’s a wide range, with something for everyone. And while some roles require a college degree, others welcome high school grads.
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FAQ
What is the most needed job in 2024?
According to the Bureau of Labor Statistics, nurse practitioners are among the fastest growing jobs for 2024 and beyond. That’s due largely to increased demand for healthcare providers during the pandemic era, but it was also one of the fastest growing jobs pre-COVID.
What job has the highest future growth?
The Bureau of Labor Statistics projects that wind turbine service technicians are set to see the highest job growth through 2033. As the country looks to reduce carbon emissions — and demand for electricity increases — more wind turbines are expected to be built. This will likely create more job opportunities for qualified service technicians who can install and maintain the equipment.
Which jobs will be in demand in the next 10 years?
Some of the jobs that will be in the highest demand in the next 10 years include nurse practitioners, wind turbine service technicians, data analysts, information security analysts, and medical and health services managers.
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Are you an introvert in search of the perfect job environment? Introverts typically focus on internal feelings rather than external stimuli and need alone time to thrive. Introverts often have excellent listening skills, avoid conflict, take time making decisions, prefer to work alone, and feel drained after being in a crowd.
A part-time remote job can be a good move for introverts. We’ll dive into a list of flexible remote jobs, the pros and cons of each, and how to evaluate remote job opportunities.
Key Points
• Increased productivity and improved work-life balance are significant benefits of remote work.
• Remote work can offer introverts the opportunity to earn supplemental income while maintaining a flexible schedule.
• Potential downsides include reduced social interaction and teamwork opportunities.
• Part-time remote jobs like bookkeeping and online tutoring are ideal for introverts.
• It’s a good idea to thoroughly evaluate remote job opportunities before applying.
What Are Flexible Remote Jobs?
The most basic definition of a flexible remote job is one that allows you to work from home instead of from a traditional office. However, there are some variations on remote work.
Some positions are 100% remote, which means you work from home every day. You do not need to be in an office at all or travel for your job. Hybrid remote jobs are partially remote, which means you may need to travel or spend time in the office for some of your working hours.
Finally, you might have the “option” of remote work. Some employers offer the option to either work from home or go into the office.
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Pros and Cons of Getting a Remote Job
There are both pros and cons to getting a remote job. Let’s take a look at them.
Pros:
• Higher productivity: Remote employees are often more productive because they can get more work done in a quieter working environment with fewer interruptions. They take fewer breaks and experience fewer sick days than those who work in an office. (After all, germs spread throughout an office like wildfire.) In addition, remote workers can often accomplish tasks at a more comfortable pace without having to worry about office drama.
• Better work-life balance: Working from home can improve your work-life balance, allowing you to spend more time with family, pets, or partner. Employees may also worry less about taking time off to care for a family member.
• Saves on commuting: Remote work allows you to reduce your carbon footprint by not commuting or taking public transportation. And you don’t need a budget tracker to tell you that not driving to work can also save money on fuel, maintenance, and insurance.
Cons:
• Fewer teamwork opportunities: Just as it’s difficult to assemble a robust happy hour with a fully online team, it’s also harder to build true camaraderie when you work remotely. It may also be more difficult for managers to build inherent trust with a team that doesn’t see each other every day.
• Reduced social interaction: As an individual who works remotely, you may find reduced social interaction one of the most obvious downsides of working remotely. It can exacerbate feelings of isolation.
• Less access to IT support: If you have a problem with your computer or need access to particular software, you might have trouble finding the same type of help as you would in an office.
• Must be intrinsically motivated: It helps to be a self-starter when you work remotely. If you need the motivation of a team or an office to get you through your workday, you may prefer an in-person environment.
Why Are Remote Jobs Good for Introverts?
Working remotely at home can help introverts find the quiet space they need to focus. You may also find there are mental and physical benefits. For instance, virtual meetings may be less intimidating for introverts, who may have trouble speaking up in large groups.
Remote part-time jobs also help traditional workers earn supplemental income. A free budget app can help you decide how much you need to earn per hour or per paycheck.
Where to Look for Remote Jobs for Introverts
You can find remote jobs for introverts on platforms like FlexJobs.com or WeWorkRemotely.com. Searching “jobs with flexible schedules near me” on Google might even yield some opportunities.
Take a look at company career pages on LinkedIn, or inquire within your personal network. Your friends or family may know of a great connection for a remote job.
How to Evaluate a New Remote Job Opportunity
Let’s say you’ve found a listing with potential. How do you know whether it’s a good opportunity to make money from home? Let’s walk through some ways to evaluate job posts.
Start by researching the company’s culture and values. Try to get a clear understanding of the nature of the company’s remote work. You may also want to find out about opportunities for smaller gatherings with other remote employees for professional or social support.
It’s important to find the right fit even when an opportunity is entirely remote. Culture and overall environment can vary a lot between companies even outside the office.
31 Part-time Remote Jobs With Flexible Schedules
Below, we’ve compiled some remote jobs with flexible schedules that are worth considering, as well as passive income ideas. These roles have different degrees of flexibility, salary ranges, and educational requirements.
Job description: Graphic designers help communicate ideas through visual organization and design. They work on a wide variety of projects for customers, such as advertisements, websites, print materials, and more.
Requirements: Typically requires a bachelor’s degree in graphic design as well as a portfolio to showcase past projects.
2. Accountant
National average salary: $79,880
Job growth outlook (2023-2033): 6%
Job description: Accountants analyze, verify, file, and interpret financial records. They prepare and explain financial statements, and develop financial reporting methods. Accountants work with a wide variety of organizations, from individuals and small businesses to large corporations.
Requirements: Usually requires a degree in accounting or a related field. Accountants can also pursue further certification, such as a Certified Public Accountant (CPA). Advanced certifications may improve your chances of finding jobs with flexible schedules.
3. Computer Programmer
National average salary: $99,700
Job growth outlook (2023-2033): -10%
Job description: Computer programmers work software by writing, modifying, and testing code and scripts. They ensure that software meets performance, reliability, and security standards, update existing programs, and check for errors in code. Programmers work in computer systems design and other related industries.
Requirements: Bachelor’s degree is typically required, and you must also be proficient in several programming languages.
4. Drafter
National average salary: $62,530
Job growth outlook (2023-2033): -1%
Job description: Drafters convert rough engineering and architectural designs into precise technical drawings and plans, using software. The same computer-aided drafting (CAD) programs are used by many industries, outlining the dimensions, materials, and procedures for building. If this sounds intriguing, you may want to learn more about trades that make the most money.
Requirements: Typically requires a drafting degree from a community college or technical school.
5. Insurance Underwriter
National average salary: $77,860
Job growth outlook (2023-2033): -4%
Job description: Underwriters evaluate insurance claims, help decide policy coverage and premiums, and analyze risk using mathematical models. They may assess the risks of home, auto, or life insurance.
Requirements: Usually must have a bachelor’s degree to enter the field, though experience may count in this career. Underwriters must pursue certification to advance to more senior positions.
6. Actuary
National average salary: $120,000
Job growth outlook (2023-2033): 22%
Job description: Actuaries use mathematical formulas to analyze risk, including economic costs, for organizations. They collect and compile statistical data, perform risk assessments, and implement plans based on the data collected. Actuaries also use financial theory to determine risk.
Requirements: Requires a bachelor’s degree and a series of assessments for certification at different levels.
7. Data Scientist
National average salary: $108,020
Job growth outlook (2023-2033): 36%
Job description: Data scientists analyze information using specialized tools and techniques to help organizations derive meaning from numbers. They collect and organize data into useful formats and build predictive modeling for organizations. These scientists extract insights with the goal of increasing efficiency in organizations.
Requirements: Generally must have a bachelor’s degree in mathematics or statistics; some organizations require a master’s or doctoral degree.
8. Desktop Publisher
National average salary: $51,290
Job growth outlook (2023-2033): -13%
Job description: Desktop publishers design page layouts for online printed or published items. They review text, graphics, and other materials created by writers and designers, and use computer software to create various documents and products. Desktop publishers also collaborate with design and media professionals such as graphic designers and illustrators.
Requirements: Typically requires a bachelor’s degree.
9. Bookkeeper
National average salary: $47,440
Job growth outlook (2023-2033): -5%
Job description: Bookkeepers keep track of financial records by recording transactions, creating invoices, handling payroll, and balancing the books for a company. They provide up-to-date information about financial transactions for an organization.
Requirements: Some postsecondary education may be required.
10. Public Relations Specialist
National average salary: $66,750
Job growth outlook (2023-2033): 6%
Job description: Develop and maintain a positive public image for their client. Some public relations specialists deliver speeches or plan and execute meetings and events in the community.
Requirements: Typically requires a bachelor’s degree in an area such as communication or business.
11. Marketing Manager
National average salary: $156,580
Job growth outlook (2023-2033): 8%
Job description: Marketing managers plan and execute various programs to drum up interest in a company and its products. This can involve planning promotional campaigns, such as giveaways or contests, or running advertising campaigns on various platforms.
Requirements: Bachelor’s degree required in a related field, such as marketing, advertising, digital media, communication, website/graphic design, or English.
12. Information Clerk
National average salary: $40,540
Job growth outlook (2023-2033): -1%
Job description: Prepares reports, claims, bills, or orders for their company, and gathers and records information from customers.
Requirements: Generally requires a high school diploma and on-the-job training
13. Medical Records Specialist
National average salary: $48,780
Job growth outlook (2023-2033): 9%
Job description: Medical records specialists process and maintain patient records and after visits may also assign clinical codes for patients’ diagnoses, procedures, and services.
Requirements: A certificate or associate degree may be required.
14. Sales Representative
National average salary: $73,080
Job growth outlook (2023-2033): 1%
Job description: Sales reps sell products over the phone. They find customers, use sales techniques on the customer, and develop relationships to drive future sales.
Requirements: May qualify without formal education, but a bachelor’s in finance, business administration, or marketing may be required. Companies may teach you further techniques in cold calling, finding leads, and using sales techniques.
15. Online Tutor
National average salary: $39,580
Job growth outlook (2023-2033): 1%
Job description: Online tutors do the same things as in-person tutors, including meeting with students one-on-one. However, they meet with students on Zoom or another online method instead of in person.
Requirements: Depends on the subject you teach, but clients/students may prefer tutors who list degrees or credentials.
16. Freelance Writer
National average salary: $73,690
Job growth outlook (2023-2033): 3%
Job description: Freelance writers and authors may write for a variety of media and brands: websites, newspapers, magazines, company documents, and more. Many types of companies hire freelance writers instead of hiring in-house. Aspiring freelance writers can jumpstart their career by trying it out as a side hustle.
Requirements: Writers should have a college degree in journalism, English, communications, or a related field.
Job description: Film and video editors work in film production by editing and assembling videos to inform or entertain an audience. They may manipulate footage, dialogue, sound effects, special effects, and more to create video content for a wide variety of sectors.
Requirements: Typically requires a bachelor’s degree in film or broadcasting to work for a company; on a freelance basis, a degree is likely not required.
18. Project Management Specialist
National average salary: $98,580
Job growth outlook (2023-2033): 7%
Job description: A “PM” controls every stage of a project, from planning to helping execute the final steps. They may schedule milestones, put together a budget, and assign duties to individual participants.
Requirements: Typically requires a bachelor’s degree to work for a company.
19. Information Security Analyst
National average salary: $120,360
Job growth outlook (2023-2033): 33%
Job description: Talk about high-paying jobs with flexible schedules — information security analysts fit that mold perfectly. These analysts keep company data safe from breaches and cyber attacks. They create plans to protect information from cyber criminals and assess system vulnerabilities within the organization.
Requirements: Bachelor’s degree in computer science and experience in the field.
20. Recruiter or Human Resources Specialist
National average salary: $67,650
Job growth outlook (2023-2033): 8%
Job description: Recruiters or HR specialists recruit, screen, and interview job candidates. They might also train, handle benefits and compensation, and work with individuals once they become employees. Those who work remotely may handle the screening part of the interview process or recruit remotely.
Requirements: Typically requires a bachelor’s degree in HR, business, or a related field.
21. Market Research Analyst
National average salary: $74,680
Job growth outlook (2023-2033): 8%
Job description: Market research analysts gather information about consumers and competitors and draw conclusions based on their research to help make decisions about the viability of products or services. They help companies understand the products people want, the demographics of the consumers buying them, and the optimal cost of an item.
Requirements: Bachelor’s degree in statistics, marketing, or a related field. Some employers may require candidates to have a master’s degree.
22. Freelance Editor
National average salary: $75,020 per year
Job growth outlook (2023-2033): -2%
Job description: Editors can work for organizations in many sectors. They may plan and edit content, conduct research, rewrite work, fact check, copy edit, proofread, and more.
Requirements: Typically requires a bachelor’s degree in communications, journalism, or English, as well as writing and proofreading experience.
23. Virtual Assistant
National average salary: $54,496
Job growth outlook (2024-2034): 24%
Job description: Virtual assistants can work for any type of company that requires administrative or clerical work. For example, they may schedule appointments, make phone calls, arrange travel, or manage emails.
Requirements: No degree is required but candidates may need to specialize in a specific area; must have a strong internet connection and an ability to communicate on online platforms.
24. Remote Trader
National average salary: $76,900
Job growth outlook (2023-2033): 7%
Job description: Remote traders handle financial investments, such as stocks, bonds, and other securities on behalf of clients. Traders must have deep knowledge of the stock market to analyze, buy, and sell investments on behalf of clients. Remote traders, who work for themselves and with their own cash, are also called “day traders.”
Requirements: Typically requires a bachelor’s degree to work for a company. If you work for yourself, no degree is required. Must have knowledge of the stock market and trading.
25. Search Engine Optimization Analyst
National average salary: $54,688
Job growth outlook (2021-2031): 19%
Job description: Search engine optimization (SEO) managers coordinate a company’s or business’s SEO strategy — that is, what will drive a website or piece of content to the first page of Google results. They may handle marketing, analysis, content, link building, and keyword strategy.
Requirements: Bachelor’s degree and/or related experience
26. Fundraiser
National average salary: $64,160
Job growth outlook (2023-2033): 6%
Job description: Fundraisers organize events and run campaigns to raise money, typically for nonprofit organizations. Fundraising might not seem as if it’s the best choice for introverted employees. However, a lot of emails exchange hands, and it’s still possible to do the job well even if you’re not the most outgoing individual on your team.
Requirements: A bachelor’s degree is typically required, with strong communication skills — but not necessarily verbal skills.
27. Telemedicine Radiologist
National average salary: $353,960
Job growth outlook (2023-2033): 4%
Job description: Radiologists diagnose injuries and diseases using medical imaging like X-rays, computed tomography (CT) scans, magnetic resonance imaging (MRI) scans, nuclear medicine, positron emission tomography (PET), and ultrasounds. Telemedicine radiologists do all this via computer.
Requirements: Requires a medical degree and a residency in radiology as well as successful completion of certification exams through the American Board of Radiology.
28. Telemedicine Family Doctor
National average salary: $240,790
Job growth outlook (2023-2033): 4%
Job description: Some family physicians offer telemedicine-only options. The position might involve the same type of medicine as a regular doctor’s office, except physicians diagnose mild symptoms only and refer patients to other specialists. If you’re a doctor who finds a regular clinical setting to be too taxing as an introvert, a telemedicine option might be right for you.
Requirements: Requires a medical degree.
29. Telemedicine Psychologist
National average salary: $92,740
Job growth outlook (2023-2033): 7%
Job description: Psychologists observe and help patients cope with cognitive, emotional, and social problems and behaviors. They also help manage illnesses and supervise patient assessments with the overall goal of achieving wellness. Telemedicine psychologists interact with patients via Zoom or similar platforms.
Requirements: Typically requires a doctoral degree in psychology.
30. Medical Transcriptionist
National average salary: $37,060
Job growth outlook (2023-2033): -5%
Job description: Medical transcriptionists convert voice recordings from physicians and other healthcare workers into reports that medical professionals can use.
Requirements: Postsecondary education certificate is required as well as basic medical knowledge.
31. Health Education Specialist
National average salary: $62,860
Job growth outlook (2023-2033): 7%
Job description: Health education specialists help individuals and communities attain health and well-being by delivering plans to achieve specific goals or implement goals prescribed by doctors and other professionals.
Requirements: You typically need to earn at least a bachelor’s degree.
Introverts can find a wide variety of remote jobs with flexible schedules. Whether you prefer a second gig or a full-time job, you’ll find great ideas on our list. Some roles require specific skills or personality traits, such as bookkeeper, sales rep, drafter, or public relations specialist. Others are open to anyone willing to stick it out through the learning curve period, like data entry, medical coder, online tutor, video editor, or fundraiser. Jobs requiring advanced degrees are intended for current practitioners who are unfulfilled in a typical office setting.
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FAQ
Is remote work good for introverts?
Yes, remote jobs can be good for antisocial people or just shy introverts. Still, it’s important to cast a wide net — including part-time jobs with flexible schedules — to find a role that aligns with your needs and preferences.
What jobs will allow me to work remotely?
The best remote jobs with flexible schedules don’t fall into just one category. Almost every industry offers some remote work options. The right job for you depends on your education, experience, personality, and career goals. Start with what you want to do, and then look for remote opportunities.
What is the best job for a shy person?
There’s no one best job that will fit any shy person, just as there’s no one perfect job that will fit any outgoing person. There are many work-from-home jobs with flexible schedules that introverted people may want to consider. Consider researching online, and contacting people you know about their positions before you make a decision.
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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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A four-year college degree is a minimum requirement for many jobs, and more education can translate to higher earnings. It’s possible, however, to find jobs that make good money without college.
When comparing good jobs you can get without college experience, it’s helpful to consider earning potential and the skills you might need.
• Many high-paying jobs don’t require a college degree, offering opportunities in fields like healthcare, transportation, and law enforcement.
• Technical education, military training, or on-the-job experience can substitute for a degree in some industries.
• Jobs such as air traffic controller, dental hygienist, and radiation therapist offer solid earning potential without a four-year degree.
• Some roles, like commercial diver and court reporter, provide flexibility and freelance opportunities.
• Consider industry demands, skills, and potential trade-offs when seeking good-paying jobs without a college degree.
Definition of a Good-Paying Job
There is no standard benchmark for what constitutes a good-paying job. According to the Bureau of Labor Statistics (BLS), the average annual wage in October 2024 was $60,580. That’s across all occupations, regardless of education level.
Whether that’s a good-paying job for you depends partly on your lifestyle. Some people can live comfortably on $60,000 or less, while others might struggle. A single person living in an area with a low cost of living may feel rich. But someone supporting a spouse and children in a high-rent area could easily disagree.
Jobs that don’t require college can pay more or less than $100,000, depending on the industry. (A spending app can help you stay on top of your financial situation once you the paychecks start rolling in.) But perhaps a better question is what kind of trade-offs are involved in working a good-paying job, in terms of time commitment and flexibility.
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Good-Paying Jobs vs Highest-Paying Jobs
The highest-paying jobs have a median pay of around $200,000 a year, according to the BLS. People who work in the highest-paying jobs may require advanced education, certifications, or specific job skills.
Does that mean good-paying jobs aren’t worth considering? Not at all. The highest-paying jobs can also be some of the most stressful jobs. Many of the highest-paying jobs are in the healthcare field, which can require long hours, dealing with emotional or mental stress, and working in potentially hazardous surroundings.
Good-paying jobs can still pay the bills, even if you don’t make a $100,000 salary. And the job itself may be less stressful and allow for more work-life balance, which some people prefer over a bigger paycheck.
Pros and Cons of Jobs That Don’t Require a College Degree
As with all jobs, better paying ones have advantages and disadvantages. Whether it makes sense for you to consider jobs that make good money without college can depend on your financial and career goals.
Here are some of the main pros and cons to weigh when deciding whether to pursue a good-paying job and forgo college.
Pros
Cons
Avoid the potentially high costs associated with a four-year degree
Some employers are reluctant to hire candidates who don’t have a degree
Finding good jobs without a college degree is often difficult because many employers have come to expect that job candidates will have a bachelor’s degree at a minimum. Additionally, many professions require four-year college degrees to be considered for entry-level positions.
There are lots of jobs you can get without a degree, or with an associate degree, but they may not pay as well as jobs that do require higher education. A college degree can make you a more attractive candidate for a position because it demonstrates to employers that you’ve taken steps to prepare for a successful career.
Does a four-year college degree or higher guarantee that you’ll be successful or make a lot of money? No, and some industries that require a degree pay very little. That’s another reason to consider good jobs that pay well without college being a requirement.
Tips for Finding Jobs Without a College Degree
If you’re interested in getting good-paying jobs without college, it’s important to do your homework. Specifically, it’s helpful to understand:
• Which industries or career fields generally require a degree and which ones don’t
• What skills, experience, or expertise may be substituted for a college degree when searching for good-paying jobs in specific industries
• Whether it may be to your advantage to get an associate degree or a postsecondary non-degree certification
• What is competitive pay for any good-paying jobs you’re interested in, based on industry standards and trends
You should also consider the types of jobs you’re interested in. If you’d like to do something hands-on, for instance, then you may be curious about what trade makes the most money and whether you’ll need an associate degree to enter that field.
Or if you’re the introverted type, you might be focused on finding the best paying jobs for antisocial people that don’t require a degree.
Wondering which jobs pay the most without a college degree? We analyzed BLS data to find good-paying jobs that don’t need a four-year degree and compiled the following list based on:
• Median annual pay
• Minimum education level required (high school diploma or equivalent, postsecondary non-degree award, or associate degree)
• Expected job growth through 2033
Read on for 25 good-paying jobs you can get without college.
1. Makeup Artist, Theatrical and Performance
Median pay: $68,590/year
Job growth outlook: 9%
Job description: Makeup artists apply cosmetic and special-effects makeup to performers in theatrical and other entertainment settings.
Job duties and requirements:
• Create and apply makeup looks to performers
• Complete touch-ups as needed to keep makeup looking fresh throughout the performance
• Postsecondary non-degree award is usually required
How to get started: Makeup artists may attend cosmetology school or earn professional certifications in makeup artistry before applying for jobs. Some artists, however, are self-taught and start their careers by showcasing their makeup skills on TikTok or other social media.
Pros:
• Makeup artists can make excellent money without a college degree
• This is a highly creative job that often involves meeting new people
• Makeup artistry can offer flexible hours and opportunities to travel
Cons:
• Higher pay isn’t guaranteed
• Work environments can sometimes be harsh, and artists may be subject to criticism
• Not ideal for people who aren’t comfortable in a fast-paced work environment
2. Commercial Pilot
Median pay: $171,210/year
Job growth outlook: 5%
Job description: Commercial pilots fly planes and other aircraft, and can work for major airlines, charter companies, or private individuals.
Job duties and requirements:
• Operate flight equipment to safely transport cargo or passengers
• Check the condition of the aircraft prior to takeoff
• Associate degree and on-the-job training may suffice for pilots who don’t plan to fly for major airlines
How to get started: Flight training and FAA certification are essential for commercial pilots. On-the-job training may be substituted for an associate or a bachelor’s degree.
Pros:
• Commercial pilots can make a lot of money, even without a degree
• Pilot jobs offer opportunities to travel to new places
• Work can be flexible
Cons:
• Requires extensive flight and on-the-job training
• Flying for a living is generally a higher-risk occupation
• Private pilots may have to contend with demanding clients
3. Air Traffic Controller
Median pay: $137,380/year
Job growth outlook: 3%
Job description: Air traffic controllers help to guide aircraft from one destination to another. They can work at major airports or smaller airfields.
Job duties and requirements:
• Monitor the movement of aircraft in the air and on the ground
• Communicate with pilots during takeoff, while in-flight, and during the landing
• Sufficient work experience and on-the-job training
How to get started: If you’re interested in becoming an air traffic controller, you’ll need to first meet the minimum requirements. Typically, that means at least three years of work experience, a mix of work experience and education, or training through an FAA-approved program.
Pros:
• Air traffic control jobs can pay exceptionally well
• A college degree isn’t always required if you have appropriate work experience or training
• Job growth is not spectacular but demand is expected to hold steady
Cons:
• High-pressure job
• May require working long hours, including weekends and holidays
• Room for advancement may be limited
4. Nuclear Technician
Median pay: $101,740/year
Job growth outlook: -6%
Job description: Nuclear technicians work in nuclear facilities to assist physicists, engineers, and professionals in maintaining those facilities and conducting nuclear research.
Job duties and requirements:
• Monitor nuclear facility equipment
• Measure levels of radiation and collecting air, soil, and water samples to test for contamination
• Associate degree or equivalent military service
How to get started: Anyone interested in working as a nuclear technician may first want to obtain an associate degree in nuclear science or a related field. Job applicants may be able to substitute military experience for an associate degree if they had nuclear training while enlisted.
Pros:
• Nuclear technicians can be compensated well for their time and skills
• An advanced science degree is not necessarily a requirement
• Nuclear tech jobs may offer opportunities to work independently
Cons:
• Working in a nuclear facility is generally a high-risk job
• Job outlook is declining, which means there may be fewer nuclear technician jobs to go around in the future
• Advancement opportunities may be limited without a higher degree
5. First-Line Supervisor of Police and Detectives
Median pay: $101,750/year
Job growth outlook: 4%
Job description: First-line supervisors are responsible for overseeing the conduct of subordinate officers, managing investigations, and ensuring that all law enforcement protocols are properly applied.
Job duties and requirements:
• Assist in criminal investigations as needed
• Manage daily operations of police and detective personnel
• High school diploma or equivalent
How to get started: Becoming a first-line supervisor begins with completing the necessary training to become a police officer. That usually means attending the police academy. Once hired as a rookie officer, individuals can work their way up the ranks to a supervisory position.
Pros:
• First-Line supervisors can earn a salary that’s close to six figures
• High school education may be enough to get started in a law enforcement career
• It can take years to work your way up to a supervisor position
• Police work in general tends to be a dangerous profession
6. Transportation, Storage, and Distribution Manager
Median pay: $99,200/year
Job growth outlook: 9%
Job description: Managers are responsible for planning and coordinating transportation, storage, and distribution services or activities. Logistics manager is one job title that can fall under this occupational heading.
Job duties and requirements:
• Oversee and organize operations related to the transportation, storage, and distribution of movable goods or commodities
• Ensure that all activities are completed in accordance with local, state, and federal law
• High school diploma or equivalent, plus relevant work experience
How to get started: Since this is a managerial role, it’s generally necessary to start off in an entry-level position in the transportation, storage, and distribution industry. On-the-job training and experience, as well as time on the job, can be key in earning advancement with this type of job.
Pros:
• Suitable for organized and detail-oriented individuals
• Well-above-average earning potential
• Industry is experiencing above-average job growth
Cons:
• May require long working hours
• Can be a high-pressure job
• Certain aspects may be more challenging, including working with a wide range of customers
7. Elevator and Escalator Installer and Repairer
Median pay: $102,420/year
Job growth outlook: 6%
Job description: Elevator and escalator installers and repairers assist with the installation, maintenance, and repair of elevator and escalator systems in commercial and residential properties.
Job duties and requirements:
• Develop and implement plans for elevator or escalator installation
• Maintain, service, and repair elevator and escalator equipment
• High school diploma or equivalent
How to get started: The typical path to becoming an elevator and escalator installer and repairer begins with completing an apprenticeship. Apprentices may join a program approved by a union or trade industry to learn the necessary skills.
Pros:
• No advanced degree needed to get started
• Great earning potential for high school grads who are interested in a hands-on technical job
• While job growth is slower than for other occupations, there continues to be high demand for workers with these skills
Cons:
• May need to work on-call, which can complicate work-life balance
• Elevator installers and repairers generally need to be comfortable working in close or cramped conditions
• The work can sometimes be hazardous
8. Power Plant Operator, Distributors, and Dispatchers
Median pay: $100,890/year
Job growth outlook: -8%
Job description: Power plant operators, distributors, and dispatchers oversee systems that generate and distribute electric power. Nuclear power reactor workers can also fall within this job category.
Job duties and requirements:
• Control and maintain equipment that’s used in power generation
• Routinely conduct safety checks to ensure equipment is functioning properly
• High school diploma or equivalent and on-the-job work experience
How to get started: A college degree is not required to work as a power plant operator, though it may benefit you to have an educational background in engineering or a related field. This job emphasizes extensive on-the-job training, though it’s possible you may need to obtain certain professional certifications for career advancement.
Pros:
• No degree is needed to qualify for this job
• Much of what you need to know can be learned on the job
• Power plant operators earn a competitive salary
Cons:
• Can involve hazardous working conditions
• May require working long hours or on-call
• Job growth is on the decline as use of renewable energy increases
9. Radiation Therapist
Median pay: $98,300/year
Job growth outlook: 3%
Job description: Radiation therapists administer radiation to people being treated for cancer and may work hand-in-hand with medical dosimetrists, medical physicists, and oncology nurses.
Job duties and requirements:
• Explain treatments to patients and answer any questions they might have
• Administer doses of radiation in a safe environment and at the levels specified by the patient’s treatment plan
• Associate degree or certificate program
How to get started: If you’re interested in a career in radiation therapy, you may need an associate degree in nursing or a certificate in nursing to qualify. State law may also require you to be licensed or certified and complete ongoing education requirements.
Pros:
• Earning potential is solid, and there may be room for advancement
• Demand for radiation therapists appears to be holding steady
• Good for people with strong soft skills
Cons:
• May require working long hours
• Can involve a lot of standing
• Working with people who are severely ill can take a toll emotionally and mentally
10. Subway and Streetcar Operator
Median pay: $84,270/year
Job growth outlook: 4%
Job description: Subway and streetcar operators are responsible for the safe operation of subway trains, streetcars, and similar methods of transportation in compliance with local, state, and federal laws.
Job duties and requirements:
• Operate subway or elevated trains or streetcars to convey passengers from one location to another
• Some subway or streetcar operators may be charged with collecting fares
• High school diploma or equivalent and on-the-job experience
How to get started: You’ll need a high school diploma or GED to apply for subway or streetcar operator jobs. That’s typically sufficient to get most entry-level positions and from that point on, you’ll largely learn what you need to know to do the job through hands-on training and experience.
Pros:
• Pay scale is great for a job with no degree
• Not required to sit at a desk all day
• Working hours may be flexible
Cons:
• May involve dealing directly with the public
• There is some risk, as subway and streetcar accidents can happen
• No hard physical labor but may be mentally and emotionally draining
11. Signal and Track Switch Repairer
Median pay: $82,710/year
Job growth outlook: 2%
Job description: Signal and track switch repairers are responsible for keeping track switch systems used on rail lines functioning properly. They primarily work within the railroad system, though they may also be employed by state and local government agencies.
Job duties and requirements:
• Install and inspect track switches and signal equipment
• Test, maintain, and repair gate crossings along railroad lines
• High school diploma or equivalent and on-the-job training
How to get started: Getting an associate degree in electrical repair could give you an edge if you’re interested in getting hired as a signal and track switch repairer. However, it’s possible to break into this field with just a high school diploma because much of what the job requires is learned in a hands-on way. Completing an apprenticeship with an electrician could also be helpful.
Pros:
• No degree is required to enter this industry, though it’s something to consider
• Room for advancement
• Above-average pay
Cons:
• Generally requires good communication skills
• Work has the potential to be hazardous
• May require working on-call hours or long shifts
12. Postmaster and Mail Superintendent
Median pay: $88,670/year
Job growth outlook: -3%
Job description: Postmasters and mail superintendents oversee the operation of postal service branches and offices. This is technically not a federal job, but postal workers are entitled to the same benefits as federal employees.
Job duties and requirements:
• Plan, direct, and coordinate administrative, operational, management, and support services at U.S. post office locations
• Oversee the activities of employees working at post office branches
• High school diploma or equivalent and on-the-job training
How to get started: If you’re interested in postal service jobs, you can apply for them online through the post office website. You’ll need to complete the Postal Battery Exam, but no degree or prior experience is required in order to get hired. This could be a good way to continue working after retirement.
Pros:
• Room for advancement
• Competitive pay and great benefits, including paid leave and health insurance
• Full-time postmasters generally have weekends off
Cons:
• Seasonality can make this job more hectic at certain times of the year
• May involve dealing with the public from time to time
• Job growth is on a slight decline, though there continues to be demand for postal workers
13. First-Line Supervisor of Firefighting and Prevention Workers
Median pay: $86,220/year
Job growth outlook: 4%
Job description: First-line supervisors oversee the activities of firefighting and prevention workers. They’re responsible for coordinating the operation of fire departments and may be referred to as a fire chief or fire captain.
Job duties and requirements:
• Respond to fire calls and assign firefighters specific tasks to extinguish fires and rescue persons who may be trapped in affected buildings
• Assess fire damage and write reports summarizing fire calls
• Postsecondary non-degree certificate and on-the-job training
How to get started: A high school diploma may be sufficient to apply for a firefighter job, though it may benefit you to earn a degree in fire science if you’re hoping to obtain a managerial or supervisory role. You’ll need to be physically fit, attend fire academy, and complete a written exam as part of the application process.
Pros:
• Opportunity to give back to your local community and do work that’s rewarding
• Solid earning potential with room for advancement
• Firefighting jobs include a solid employee benefits package
Cons:
• Can involve working long hours and on-call hours, which can make achieving work-life balance difficult
• Job may be physically demanding
• Firefighting can also be mentally and emotionally taxing
14. Dental Hygienist
Median pay: $87,530/year
Job growth outlook: 9%
Job description: Dental hygienists typically work in dental offices and perform basic preventative care for patients, including visual exams and cleanings. They may work on a part-time or full-time basis.
Job duties and requirements:
• Perform dental cleanings and take X-rays
• Educate patients on proper dental hygiene techniques
• Associate’s degree and licensing, when required by the state
How to get started: High school graduates who have taken courses in health or science may have a good framework for pursuing an associate degree in dental hygiene or enrolling in a dental hygiene training program. Licensing and certification may be required by the state before you can work in a dentist’s office.
Pros:
• May offer the flexibility of part-time or full-time work
• Potentially a great job for people who enjoy interacting with others
• Dental hygienists typically have nights and weekends off
Cons:
• Some patients may be more challenging to work with than others
• May require lots of standing and bending, which can take a toll physically
• Training and licensing can take time and money to complete
15. Police Officer and Detective
Median pay: $74,910/year
Job growth outlook: 4%
Job description: Police officers enforce the law and protect people and property. Detectives investigate crimes, which can include collecting evidence, interviewing witnesses and potential suspects, and testifying in criminal court cases.
Job duties and requirements:
• Police officers respond to emergency and non-emergency calls, patrol assigned areas, make arrests, and execute search warrants
• Detectives investigate crimes in order to identify victims and suspects, and collect evidence for cases that may be referred for prosecution
• High school diploma or equivalent and on-the-job training
How to get started: A high school diploma may be all you need to apply for police officer training at a local accredited academy. Some departments may require an associate or bachelor’s degree. You’ll need to be physically fit and successfully complete a psychological evaluation.
Pros:
• Opportunity to serve in your local community and give back
• Room for advancement, particularly if you’re interested in detective work or a supervisory role
• Opportunities for specialization if you’re interested in becoming a game warden or eventually pursuing a career in federal law enforcement
Cons:
• Entry-level pay may be on the lower end
• While a degree is not necessarily required, getting hired can be a rigorous process
• Work involved can be mentally, emotionally, and physically taxing, and in some cases dangerous
16. Aircraft and Avionics Equipment Mechanic and Technician
Median pay: $75,400/year
Job growth outlook: 5%
Job description: Aircraft and avionics equipment mechanics and technicians maintain and repair aircraft. They can work at airports, repair stations, or hangars, and some may have previous experience serving planes in the military.
Job duties and requirements:
• Diagnose mechanical or electrical problems with aircraft and make repairs
• Test aircraft instruments to ensure that they’re in good working order
• High school diploma, though an associate’s degree doesn’t hurt
How to get started: People who are interested in working in avionics may be able to enter the field with just a high school diploma, though some employers may look for an associate degree or higher. Technicians may need to complete FAA-approved training.
Pros:
• The work itself might be interesting to someone who’s fascinated with planes or mechanical engineering
• Above-average pay
• Job growth outlook suggests that these jobs will continue to be in demand
Cons:
• Working around airplanes and other aircraft can lead to hearing loss
• FAA certification is required, which can take time to complete
• Work schedules may be less flexible than other jobs
17. Claims Adjuster, Examiner, Appraiser, and Investigator
Median pay: $75,020/year
Job growth outlook: -5%
Job description: Claims adjusters, examiners, appraisers, and investigators handle various aspects of insurance claims filings. They typically work full-time and help insurance companies decide when to pay claims, based on the information they gather.
Job duties and requirements:
• Investigate, evaluate, and settle insurance claims, including determining how much an insurer should pay
• Review claims information to look for signs of insurance fraud
• High school diploma or equivalent
How to get started: If you’re interested in insurance jobs, the path you follow can depend on what type of role you’re interested in. If you’d like to be an appraiser, for instance, you might complete a postsecondary non-degree award program and gain experience by working in an auto body shop.
Pros:
• While job growth is expected to decline, demand for adjusters and related roles is set to rise as currently employed professionals age into retirement
• Depending on which role you’re interested in, your work may take you outside the office versus keeping you at a desk all day
• Work may be interesting for people who have an inquisitive nature
Cons:
• Gathering information and writing reports can be tedious
• A bachelor’s degree may be required for certain jobs
• Work schedules may be less flexible than other jobs
18. Fire Inspector
Median pay: $71,420/year
Job growth outlook: 6%
Job description: Fire inspectors are responsible for visiting commercial and residential buildings and ensuring that they’re observing proper fire safety protocol. They can also specialize in fire prevention education or forest fire management.
Job duties and requirements:
• Inspect buildings to look for fire hazards and ensure that structures are aligned with local, state, and federal fire codes
• Review building plans with developers to ensure that new construction meets fire code standards
• High school diploma or equivalent and previous experience as a firefighter
How to get started: Typically, fire inspectors first work as firefighters, though that isn’t necessarily a requirement for candidates who have other suitable education or training. A high school diploma may be sufficient for the job, though it may benefit you to earn a degree in fire science or attend a fire academy.
Pros:
• Fire inspection is typically less hazardous than firefighting
• Above-average pay with room for higher earnings if you decide to complete a degree program
• Can be a rewarding job for people who want to do work that serves the public good
Cons:
• Previous experience as a firefighter may be a requirement to get hired
• Working hours may be long and irregular
• Fire inspectors may potentially be exposed to hazardous materials or substances during the course of their work
19. Water Transportation Worker
Median pay: $64,930/year
Job growth outlook: 3%
Job description: Water transportation workers operate vessels that transport goods or people over bodies of water. Ferry operators, barge operators, and ship captains are all examples of water transportation workers.
Job duties and requirements:
• Operate and maintain marine vessels in accordance with local, state, and federal laws
• Ensure the safety of people or cargo on board marine vessels
• High school diploma or equivalent and relevant work experience
How to get started: There are different requirements for each type of water transportation role. Sailors, for instance, typically don’t need formal education, but you might need Coast Guard-approved training to captain a ship or helm a barge. Certain water transport workers may need to obtain Merchant Mariner credentials or Transportation Worker Identification credentials.
Pros:
• Water transport jobs may appeal to people who love being on open water or want to work outdoors
• A bachelor’s degree isn’t always necessary but it could lead to higher earnings and promotions
• More new openings are expected over the next decade as existing water transport workers retire
Cons:
• Work schedule may be highly irregular and require you to spend extended periods of time away from home
• Work hours may be long, with little time for breaks
• Operating marine vessels can be a hazardous occupation
20. Electrical and Electronics Installer and Repairer
Median pay: $67,220/year
Job growth outlook: 1%
Job description: Electrical and electronics installers get paid to install and repair electrical or electronic equipment. They may work in repair shops or factories and usually work on a full-time basis.
Job duties and requirements:
• Inspect and test equipment to diagnose potential issues
• Disassemble, reassemble, clean, and repair equipment
• Training and education at the trade school level
How to get started: Electrical and electronics installers and repairers are typically expected to complete a training program through a trade, vocational, or technical school. Hands-on training, either through a school program or apprenticeship, can also be highly useful when seeking these types of jobs.
Pros:
• No bachelor’s degree required
• Could be ideal for people who enjoy hands-on work
• Licensing and certification may not be required, but it could help to open up opportunities for advancement or higher earnings
Cons:
• Job growth is stable but not spectacular
• Working around electricity and electronics is not a risk-free job
• Can be a physical job that requires lots of standing, squatting, bending, and lifting
21. Occupational Therapy Assistant and Aide
Median pay: $65,450/year
Job growth outlook: 21%
Job description: Occupational therapy assistants and aids work in healthcare settings, including hospitals, doctor’s offices, and nursing care facilities. They help patients to develop necessary skills for daily living and working.
Job duties and requirements:
• Occupational therapy assistants provide therapy services to patients
• Occupational therapy aides provide support services to occupational therapy assistants
• High school diploma for aides; associate degree for assistants
How to get started: If you’re interested in becoming an occupational therapy assistant aide, then a high school diploma may be all you need. You could pursue an associate degree if you’d like to advance into an occupational therapy assistant role. Certifications in CPR and basic life support may also be required for these types of jobs.
Pros:
• One of the fastest-growing jobs in healthcare with excellent demand for qualified candidates
• Great earnings potential for people with a high school diploma
• May allow for travel or flexible work schedules
Cons:
• Can be a physically demanding job
• Flexible working hours are not always guaranteed, and you may need to work nights or weekends
• Certain patients may be more challenging to care for than others
22. Court Reporter and Simultaneous Captioner
Median pay: $63,940/year
Job growth outlook: 2%
Job description: Court reporters transcribe official court proceedings, including trial proceedings, hearings, and depositions. Simultaneous captioners provide transcription services for video recordings that require closed captioning.
Job duties and requirements:
• Court reporters attend court proceedings and transcribe the details word-for-word
• Captioners transcribe dialogue for video recordings, including television shows and films, that are used to create captions for viewers
• Certificate or associate degree
How to get started: Becoming a court reporter or captioner may start with completing a certificate or associate degree program at an accredited trade school. Court reporters may need to complete additional training to learn how to use transcription software. States may require certification or licensing for court reporters and captioners.
Pros:
• Good-paying job for people without a four-year degree
• Opportunities exist to do court transcription or captioning work on a freelance basis
• While job growth is steady, rather than fast, demand is stable overall
Cons:
• Work may involve sitting for long periods of time
• Working hours may be long and might necessitate taking work home with you
• Could be stressful as there’s no room for errors or mistakes
23. Telecommunications Equipment Installer and Repairer
Median pay: $62,350/year
Job growth outlook: -3%
Job description: Telecommunications and equipment installers and repairers are responsible for installing, maintaining, and repairing telecommunications equipment, including phone lines, cable lines, and wireless communication equipment.
Job duties and requirements:
• Install telecommunications equipment in commercial and residential structures
• Inspect, service, and repair telecommunications equipment
• Certificate or associate degree
How to get started: Telecom equipment installation and repair jobs typically require some form of education beyond high school. Depending on the employer, that might mean a certificate or associate degree. Once hired, you can expect to complete on-the-job training.
Pros:
• May involve travel or working in different settings, which is great for people who get bored easily
• Salaries are above-average, with room to advance and increase earnings
• Affords opportunities to meet new people and flex your problem-solving skills
Cons:
• Average salaries are not as high as what you might get with other good-paying jobs that don’t require college
• Additional education may be required for certain jobs
• This kind of work has the potential be dangerous; for example, there is a risk of falls associated with servicing cell phone towers
24. Commercial Diver
Median pay: $61,300/year
Job growth outlook: 8%
Job description: Commercial divers can work in a number of capacities, but generally they’re paid to use their scuba skills. For example, divers employed by the oil and gas industry may be charged with inspecting underwater drilling structures to check for damage or structural issues.
Job duties and requirements:
• Some commercial divers are paid to inspect and repair underwater structures and equipment
• Other commercial divers may earn a living by photographing marine life
• Postsecondary non-degree award and scuba training
How to get started: Becoming a commercial diver starts with deciding what type of work you want to do. For instance, if you want to get paid to photograph marine life, then you may want to complete a photography certificate program at an accredited school. If you’re interested in using your diving skills to repair underwater structures, then you may need to learn a specialized skill like welding.
Pros:
• Diving for a living can be a fun job for people who like being in the water
• Advanced education or training may not be a requirement for entry-level jobs
• Diving jobs can offer flexibility and great earning potential
Cons:
• Can be physically demanding
• Work may not always be steady or consistent if you’re hired as a contract worker. Use a money tracker app to manage your income and budgets between paychecks.
• Diving is an inherently dangerous activity
25. Drafter
Median pay: $62,530/year
Job growth outlook: -1%
Job description: Drafters use software programs to convert engineering and architectural designs into technical drawings. They may work in a variety of fields, including architecture, engineering, manufacturing, and construction. This could be a lucrative work-at-home job for retirees.
Job duties and requirements:
• Use Computer Aided Design (CAD) software to design plans, working from sketches done by architects or engineers
• Specify dimensions and materials for new building projects
• Certificate, diploma, or associate degree
How to get started: Drafters may continue their high school education by attending a trade school to obtain a certificate or associate degree. They may also opt to obtain certifications in their field, though that isn’t always necessary to get hired.
Pros:
• Drafting may be a good career for someone who’s artistic or creative
• Getting certification or earning a four-year degree could boost your earning potential
• Job growth is projected to slow but there will still be demand for drafters as current employees retire
Cons:
• Requires exceptional attention to detail with no room for error
• Economic disruptions, such as recessions, may reduce demand for drafters if construction slows
• Certain aspects of the job can be repetitive or tedious
Finding a good paying job without college is possible. Some require technical education, military training, or on-the-job experience. Industries that welcome high school grads include transportation, law enforcement, power plants, telecoms, the postal service, and healthcare. Perks can include the opportunity to travel and flexible hours. Some jobs pay more than $100K.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
What good jobs can you get if you don’t go to college?
Some good-paying jobs you can get without college include air traffic controller, law enforcement, and certain healthcare roles. Trade jobs and jobs in transportation can also pay well and don’t necessarily require a college degree.
How can I get 6 figures without going to college?
If you’re interested in making six figures without a college degree, you’ll need to either find a good-paying job or start a successful business. It’s possible to make six figures online as a freelance writer or blogger, if you have good writing skills and are motivated to grow your business.
How do people make a living without a college degree?
Plenty of people make a living without a college degree by using their skills and experience to land good-paying jobs. Others can earn a good living, including making six figures a year, by starting their own business, which doesn’t necessarily require a degree.
Photo credit: iStock/MesquitaFMS
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*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.
First-time parents can be so preoccupied with the love they feel for their new babies and the constant care required that they may lose sight of their larger financial goals. When you’re busy getting to know your little human, you may not prioritize money management.
But securing your growing family’s finances is an important consideration. You have new needs and goals evolving, such as your child’s education and your retirement. Here’s smart advice to help you manage your money well during this new life stage and beyond.
Key Points
• Parents can avoid overspending on baby gear by considering secondhand items or accepting hand-me-downs.
• Creating a budget using the 50/30/20 rule may help first-time parents manage new expenses like daycare.
• Parents can prepare for unexpected expenses by building an emergency fund in a high-yield savings account.
• New parents should continue to prioritize retirement savings by utilizing employer 401(k) plans or IRAs.
• Parents can start saving early for their child’s education with 529 plans or Coverdell ESAs.
7 Financial Tips for New Parents
Raising a child can cost more than $15,000 a year, according to one recent calculation using U.S. Department of Agriculture data. That can put some serious stress on your finances. Here’s guidance on making your money work for you and your family.
1. Avoid Overspending on Baby Gear
As a first-time parent, you likely have quite a bit of work to do before the baby arrives. You may need to create and furnish a nursery for your child, and stock up on diapers, bottles, clothes, toys, and so much more.
As you’re setting up your new life with a baby, it can feel like buying everything brand-new is the only option, but that can be costly. You might consider taking advantage of used or gifted items so as not to deplete your bank account.
You can buy a lot of items secondhand at a lower cost through online marketplaces or used goods and consignment stores. Or you might see what “freecycle” networks in your area have available at no charge. That’s one way to save money daily.
And if you have friends, family, or neighbors that already have children, they may be looking to unload some of the gear their children no longer use. Families with older kids are often happy to pass on items such as clothes, cribs, playpens, toys, and books. You might check Nextdoor.com and other community sites, which can be a good resource for local families seeking to offload these items.
💡 Quick Tip: Help your money earn more money! Opening a bank account online often gets you higher-than-average rates.
2. Don’t Live Without a Safety Net
As a parent, you have a host of new responsibilities, and expenses you never imagined may pop up. So consider these moves:
• An emergency fund becomes even more important when you have a child or one is on the way. You’re now responsible for all of their needs, and there may be unplanned costs that pop up along the way. Or, if you were to endure a job loss, you’d need to continue to provide for your child.
• Saving for an emergency is a process, and it’s okay to start small — even just $25 a week will add up over time. Some people opt to store their emergency fund in a high-yield savings account or checking account. Earning interest that way will help your money grow faster.
• Review your health insurance. You may want to opt for a different plan now that you have a child. An addition to the family is usually a qualifying life event (QLE) that can allow you to make changes regarding your plan outside of the usual open enrollment period.
• Consider life insurance and disability insurance if you don’t already have it or, if you do, see if you want to update your coverage. When a little one is depending on you, you probably want to protect their future if you weren’t able to earn your usual income. Maybe you can only afford a modest policy at this moment. That can be fine; it’s a start and something you can revisit later as you grow your wealth.
3. Keep a Budget
With a baby on board, you likely have a host of new expenses, from the life insurance mentioned above to daycare to toys (and more toys). Making a budget can help you prepare to pay for the extra expenses.
The word “budget” can conjure up fear, but it’s really just a helpful set of financial guardrails that help you balance how much you have coming in and how much is going out towards expenditures and savings.
• You might try the popular 50/30/20 budget rule which says that 50% of your take-home pay should go toward needs, 30% toward wants, and 20% toward savings.
• You could check with your financial institution to see what kinds of tools they provide for tracking your money. This can be a great resource as you work to improve your money management and hit your goals.
• To make a budget, you might also see what apps or websites offer products that could work for you. Check with trusted friends to see what they may recommend.
4. Don’t Put Off Retirement Savings
Another financial mistake new parents: Learning to pay yourself first isn’t easy for a lot of parents to do, but it’s vital. (For instance, while you can borrow money for college expenses for your child, you can’t likely borrow for your retirement.)
For retirement saving, one way to start is by enrolling in your company’s 401(k) plan if one is offered. Some employers will match your contribution, up to a certain percentage, and you’ll be able to have your contribution taken directly from your paycheck.
If your employer doesn’t offer a 401(k), you could open an individual retirement account, or IRA, instead. Getting in the habit of saving at least a little for your own future can be important as your focus shifts to your new addition.
It’s never too early to start saving for retirement.
💡 Quick Tip: Most savings accounts only earn a fraction of a percentage in interest. Not at SoFi. Our high-yield savings account can help you make meaningful progress towards your financial goals.
5. Start Savings for Your Child’s College
Saving for your children’s tuition can be an important step for many new parents. That’s because the sooner you start, the better. Your money will have that much more time to grow. College is a big-ticket expense, with estimates of tuition in 18 years being calculated as follows:
• $25,039 per year for a public college
• $48,380 per year for a private college
While a standard savings account may seem like the easy choice, there are other options designed to help you or grandparents save for a child’s education.
• With an education savings plan, a tax-deferred investment account is used to save for the child’s future qualified higher education expenses, like tuition, fees, room and board, computers, and textbooks. Funds used for qualified expenses are not subject to federal income tax.
• With a prepaid tuition plan, an account holder purchases units or credits at participating colleges and universities for future tuition and fees at current prices for the beneficiary. Money in this fund is guaranteed to rise at the same rate as tuition. Most of the plans have residency requirements for the saver and/or beneficiary.
• A Coverdell Education Savings Account may also be worth looking into. In general, the beneficiary can receive tax-free distributions to pay for qualified education expenses. Contributions to a Coverdell account are limited to $2,000 per year, per beneficiary. The IRS sets no specific limits for 529s.
6. Make the Most of Tax Breaks
Another bit of financial advice for parents is that when you have a child, you may be eligible for certain tax benefits.
• The Child and Dependent Care Credit: If your child is in daycare or preschool or you pay for another kind of caregiving, you may be eligible to claim this credit, which varies based on your income. Typically, you can get a credit of between 20% and 35% of qualifying expenses up to $3,000 for one dependent or $6,000 for two or more.
• The Child Tax Credit: This allows parents to get a tax credit of up to $2,000 per child under the age of 17. Other qualifying dependents up to age 24 may provide a credit of $500 each.
• The Earned Income Tax Credit: Lower-income parents may be able to claim this credit, which varies with income and number of children. The Internal Revenue Service (IRS) offers a calculator to check eligibility.
• Adoption Tax Credit: This offers tax incentives to cover the cost incurred if you adopted a child. In 2024, the maximum credit was $16,810 per qualifying child.
You might consult a tax professional to see which of these you can claim.
7. Teach Your Kids About Money
If kids aren’t taught the basics of financial literacy at a young age, they may struggle to make a budget, avoid credit card debt, or save money when they’re older. You can help your children learn what it means to manage money in these ways:
• Kids often love to play store, so go ahead and join in. By exchanging goods for money, they’re already beginning to understand the basic principles of commerce.
• As they get older, you may want to give them an allowance in exchange for chores or homework completion.
• You could even have them make a budget with their earnings, and encourage them to spend, save, and donate.
• You could open a checking account with them, once they are old enough, and teach them how it works.
• You might give them a gift card or prepaid debit card and coach them on sensible spending.
Can You Ever Be Fully Financially Ready for Parenthood?
It’s probably not possible to be fully financially ready for parenthood or for adult life in general. Part of each person’s financial journey is learning how to plan for the unexpected and navigate curveballs. That might mean financing a child’s dance lessons or speech therapy. You might wind up moving to what you consider a better school district and paying more for your mortgage and taxes.
That’s why embracing some of the guidelines above, such as making a budget, stocking an emergency fund with cash (perhaps sending some money there via direct deposit), and saving for the future can be so important.
The Takeaway
Being a new parent is a joyful time but also a challenging one. One priority not to lose track of is your financial health, especially since you are now providing for a little one and their future. By budgeting and spending wisely, saving for the future, and knowing which tax credits you may be able to claim, you can help yourself get on the path to financial security for your family.
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.
Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 4.00% APY on SoFi Checking and Savings.
FAQ
How can you plan financially for parenthood?
Planning financially for parenthood can involve updating your budget, allocating funds to the right insurance policies and long-term goals (such as your child’s education and your own retirement), and creating an emergency fund, if you don’t already have one. Also educate yourself on any tax credits you might qualify for once you become a parent.
What are the biggest unforeseen expenses of parenthood?
Some of the unforeseen expenses of parenthood include your child’s medical, dental, and mental health costs; academic support (such as tutors and prep classes); hobbies (taking tae kwon do classes, perhaps, or traveling with their soccer club); and funding any family travel and vacations.
How much does a child cost per year?
The cost of raising a child per year can vary widely, depending on such factors as medical needs and whether they are attending public or private school. That said, recent studies suggest the current average figure is around $15,000 to $17,500 per year per child.
SoFi members with direct deposit activity can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. 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 (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, 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 Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. SoFi members with direct deposit are eligible for other SoFi Plus benefits.
As an alternative to direct deposit, SoFi members with Qualifying Deposits can earn 4.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant. SoFi members with Qualifying Deposits are not eligible for other SoFi Plus benefits.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.00% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
In some ways, net worth and wealth can be tricky terms to define. To some people, the phrases are synonymous. As others acknowledge, the perception of wealth is influenced by a variety of factors, including where you live, your career, and your age.
Here’s a deep dive into how to calculate individual net worth and some of the factors that may influence our perception of wealth.
Key Points
• Net worth is calculated by subtracting liabilities from the total value of assets, including real estate and investments.
• Assets like cash, life insurance, household items, and jewelry contribute to overall wealth.
• A positive net worth results when assets exceed liabilities, indicating financial health.
• Lifestyle creep can hinder wealth accumulation as higher incomes often lead to increased discretionary spending.
• Middle-income families earn between $56,600 and $169,800 annually, defining economic classes.
How to Calculate Individual Net Worth
An individual’s net worth is the value of all of their combined assets minus any liabilities (that is, outstanding debts). If your assets are worth more than your liabilities, you have a positive net worth. If you owe more than you own, your net worth is negative.
Assets you may use as part of your net worth calculation can include:
• Real estate. Your home, second home, rental property, commercial real estate, or other holdings.
• Cars and other vehicles. Note that automobiles are typically subject to depreciation in value over time.
• Investments. Stocks, bonds, mutual funds, and retirement accounts.
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What Is the Difference Between Net Worth and Income?
Net worth and income don’t necessarily go hand in hand. Income is the money that is reported on a tax return, while a high net worth results from owning valuable assets. High net worth could be a result of careful saving, inheriting money, or hanging onto highly appreciated assets.
For example, let’s say someone bought a house in a once-undesirable neighborhood decades ago. Today, that neighborhood is super popular and the house is worth much more. Even if they don’t sell, the homeowner has increased their net worth without a boost in income. (It can be useful to see how net worth changes by age and location.)
On the other hand, a professional with a high salary who carries a lot of debt could have a relatively low net worth, especially if they also maintain a costly lifestyle. That said, various types of income certainly can have a big impact on how much wealth a person is able to accumulate.
Income is also one way that researchers sort individuals into economic classes, though the income ranges that delineate class can vary from year to year and by research methodology.
What Salary Is Considered a Middle-Class Income?
Pew Research Center defines middle-income Americans as those whose annual size-adjusted income is two-thirds to double the median size-adjusted household income. (Size-adjusted household income refers to the number of people within the household.)
A middle-income family of three earned $56,600 to $169,800 in 2022, the most recent information available from Pew Research.
What Salary Is Considered an Upper-Class Income?
Upper-income individuals earn more than double the median size-adjusted household income. This means a family of three may earn more than $169,800.
Wondering how your income compares? It can be helpful to look at the median income for a three-person household in each income tier.
Income Tier
Median Income in 2022
Upper Income
$256,920
Middle Income
$106,092
Lower Income
$35,318
Source: Pew Research Center
Why Wealth Is Relative Person to Person
The definition of “wealthy” differs depending on a person’s background, geography, and age. Consider a law student who earns very little money each year and carries hundreds of thousands in student debt. While their current wealth may be low, their potential future earnings may be quite high, and could catapult them into the wealthiest classes.
Consider, too, that where you live has a big impact on how far your wealth will stretch. A middle-income earner in an expensive city like San Francisco or New York may find it more difficult to make ends meet than someone in a small town in Oklahoma with a lower cost of living.
Ways to Measure Wealth
Wealth and net worth can be considered synonymous in some cases. But there are other factors that play into the perception of wealth and a person’s ability to accumulate it. Examples include demographic differences and potential return on investment, which may not have an immediate impact but can increase future wealth.
Income
As mentioned above, high income does not necessarily lead to high net worth — but it can. High earners may use their income to acquire assets that maintain equity, such as a home. These people may also use their earnings to invest within retirement and brokerage accounts.
Personal Savings
Your personal savings may refer to the cash you have on hand in checking and savings accounts, certificates of deposit, and money market accounts. It may also refer to the savings you have invested in brokerage and retirement accounts.
Ideally, these investments will appreciate over time, increasing net worth and providing a future source of income to maintain your standard of living after you stop working. As you build up your savings, tools like a money tracker app can help you keep tabs on your money.
Investment Rate of Return
An important factor in accumulating wealth is the rate of return (ROR) on your investments. Investment returns are not guaranteed. Stock prices rise and fall according to various trends in the market. Even bonds, which are relatively safe, are subject to default from time to time.
In the past, the stock market tended to rise over the long term. In fact, since 1926, the average annual rate of return for the stock market has been about 10%, surpassing potential returns for other major types of investments, including bonds.
Investors who save more, and hold more of their investment portfolio in stocks, may be better positioned to take advantage of these potential future returns.
Real Estate Assets
One way to think about wealth is as the maintaining of assets. Real estate can be a good place to build equity, and it can appreciate in value. Returns can vary widely depending on what type of real estate you buy — whether a home or commercial property — and where the property is located. Historically, the rate of return on real estate has been close to stock market returns. In the U.S. market, the median return on real estate investment is 8.6% annually, per the S&P 500 Index.
Age and Family Status
Demographic factors can have an impact on how much money you earn and the wealth you can accumulate. For example, median weekly earnings vary by age and gender.
Perhaps unsurprisingly, men and women ages 16 to 24 have the lowest median weekly earnings, with men earning $771 per week and women earning $695 in the second quarter of 2024, according to Bureau of Labor Statistics data.
Men age 35 and over enjoyed the highest median weekly earnings:
• 35 to 44: $1,379
• 45 to 54: $1,470
• 55 to 64: $1,361
Women earned less overall than men:
• 35 to 44: $1,114
• 45 to 54: $1,151
• 55 to 64: $1,048
The number of people in a household has a different impact. More people under one roof may require a larger home and more money spent on things like groceries, clothing, and transportation. As a result, a single individual usually requires less wealth to maintain a certain lifestyle than a family of five.
Good Credit Score
While not exactly a measure of wealth, a good credit score is a measure of financial health. It suggests that you have not taken on more debt than you can handle, and that you are able to make your payments on time.
A good credit score can also help you leverage your wealth to achieve financial goals. For example, lenders will look at your credit score when you apply for a loan to determine your creditworthiness. A good score can help you qualify for loans with lower interest rates. Individuals with bad credit, on the other hand, may be seen as a risk, and lenders may charge higher interest rates to compensate.
As a result, a good credit score can help you qualify for loans, such as a mortgage, at affordable rates that can help you build wealth.
Difference Between Material Wealth vs Spiritual Wealth
Material wealth is dependent on the physical and financial assets that you own and the debts you carry. Spiritual wealth, on the other hand, is not based on tangible items. Rather, it’s based on things like a sense of well-being and happiness.
Are material wealth and spiritual wealth linked? In a 2023 paper, authors Daniel Kahneman, Matthew A. Killingworth, and Barbara Mellers discovered an overall connection between larger incomes and increasing levels of happiness. But they also found that happiness peaks at $100,000 a year and then plateaus in people who are already unhappy.
Appreciating What You Have
One of the reasons that higher income doesn’t always translate into greater wealth is a phenomenon known as “lifestyle creep.” This occurs when increasing income leads to an increase in discretionary spending. A certain amount of lifestyle creep can result from trying to “keep up with the Joneses” — a tendency to accumulate material goods to compete with others in one’s perceived social class.
For example, as a person earns more, they might buy a bigger house, a more expensive car, pricey clothes, and start sending their kids to private school. These costly habits can mean that the individual may not be able to save more than when their salary was lower.
Try to avoid lifestyle creep by putting off grand lifestyle changes, like buying a large home, and putting off big purchases until absolutely necessary. Build and stick to a budget that includes wealth-building line items, such as saving in retirement funds. Track your progress with a budgeting app.
Practice appreciating what you already have, and you may find that some of the upgrades you desire are just wants — not necessities.
Net worth and wealth are inextricably linked. Measuring net worth helps people assess how many assets they currently have at their disposal. Accumulating wealth is about acquiring and maintaining assets that hold their value or increase in value. Doing so often requires careful saving and investing, as well as constant monitoring to ensure you stay on track.
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 salary is considered middle-class income?
Middle-income Americans have annual incomes that are two-thirds to double the median income, according to Pew Research. For example, a middle-income family of three will earn $56,600 to $169,800.
What salary is considered upper-middle class income?
An upper-middle class income is at the high range of middle class income. According to the U.S. Census Bureau’s “Income in the United States: 2022” report, that’s an average annual income of $94,001 to $153,000.
What salary is considered lower-class income?
Low-income Americans are anyone earning less than two-thirds of the median household income. Per Pew Research Center, that means a family of three would have a household income of less than $56,600.
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