“In trust for” (ITF) and “payable on death” (POD) are two designations that you can use to pass on bank accounts or other financial accounts after you’re gone. The main difference between in trust for vs. payable on death is that the former has a trustee while the latter does not.
Which one you opt for can depend on your personal wishes for passing on those assets. Understanding how each one works can make it easier to choose between a POD vs. trust account when crafting an estate plan.
This guide will help you learn the pros and cons of each type of financial account and compare them.
What Is Payable on Death (POD)?
A payable on death account allows the owner to pass the assets in that account to a named beneficiary once they die. For example, you might open an online savings account and name your adult child as the beneficiary.
During your lifetime, you’d be able to use the account however you wish. You could make deposits or withdrawals, and the beneficiary would have no rights to the account. Once you pass away, the beneficiary would inherit the account from you. You can use POD designations with multiple bank accounts to name different beneficiaries.
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How Payable on Death Works
Payable on death works by allowing the owner of a financial account to choose one or more beneficiaries to inherit the account. The account owner would fill out a POD form or beneficiary designation form with their bank or the financial institution that holds the account.
When the POD account owner passes away, the bank would be required to release any assets in the account to the individual or individuals named as beneficiaries. The beneficiary will typically need to present a death certificate first to prove that the account owner has passed away.
In a sense, payable on death is similar to designating a beneficiary for a 401(k) plan or Individual Retirement Account (IRA). For example, 401(k) beneficiary rules do not allow access to the account while the owner is alive. Once the owner passes away, however, the beneficiary would be entitled to receive all the funds.
Payable on Death Rules
The main rule to know about payable on death is that the beneficiary has no access to the money in the account until the account owner dies. So again, say that you name your adult child as the beneficiary to your savings account. Even though they’re listed as the beneficiary, they would not be able to go to the bank and withdraw money from the account as long as you’re still living.
Additional rules apply when there are multiple beneficiaries. All beneficiaries would be entitled to an equal share of the assets in the account. For example, assume that you have four children instead of just one. If you name all of them beneficiaries on a savings account, they’d each be entitled to 25% of the account’s assets when you pass away.
What Is In Trust For?
An in trust for, or ITF, account allows a grantor to designate a trustee who will manage financial assets on behalf of one or more named beneficiaries. The grantor is the person who owns the account; they can also be the trustee during their lifetime. The beneficiary is the person who will inherit the account assets when the grantor passes away.
After the grantor dies, the trustee can continue to manage the assets in the account on behalf of the trustee. An in trust for arrangement offers a greater degree of control than payable on death in this way: The trustee is obligated to carry out the wishes of the trust grantor.
An in trust for arrangement works by allowing the owner of a financial account or asset to establish a trust to hold those assets. In trust for can apply to savings accounts, checking accounts, or other bank accounts, as well as investment accounts.
The grantor sets the terms of the trust, and the trustee is responsible for ensuring those terms are carried out. For example, the grantor may specify that the beneficiary cannot receive assets from the account until they turn 30 or get married. The trustee would manage the assets in the account until either one of those events comes to pass.
In Trust For Rules
In trust for rules allow for flexibility, since the grantor can decide:
• Who should serve as trustee
• Who will be named as beneficiaries
• How assets in the trust should be managed
• When and how beneficiaries will have access to those assets.
An in trust for arrangement could allow the beneficiaries access to trust assets while the grantor is still alive, if that’s the wish of the grantor. Meanwhile, trustees are required to follow a fiduciary duty when managing trust assets. In simpler terms, they must act in the best interests of the beneficiaries.
If the trust is revocable, the grantor has the power to change its terms or revoke it while they’re living. Once they pass away, the trust becomes irrevocable and cannot be altered.
In Trust For vs. Payable on Death
When choosing between in trust for vs. payable on death, it might seem a little confusing since they both allow you to designate a beneficiary for financial accounts. Comparing them side-by-side can make it easier to see how they overlap and where they differ.
Similarities
First, consider the similarities:
• Whether you designate a financial account as a POD vs. trust, the end goal is the same: to pass on assets in the account to one or more named beneficiaries. As the owner of the account, you have the power to decide who to name as a beneficiary to your accounts. If you’re creating an in trust for account, you can also choose who should act as trustee.
• Whether you choose payable on death vs. in trust for, the assets in the account avoid probate. Probate is a legal process in which a deceased person’s assets are inventoried, any outstanding debts owed by their estate are paid, and remaining assets are distributed to their heirs.
Going through probate can be costly and time-consuming for heirs. Naming a beneficiary, whether it’s through an in trust for or POD arrangement, allows those assets to bypass the probate process.
Differences
Next, look at how these two kinds of accounts vary
• The main difference between a beneficiary in trust vs. payable on death account is that one has a trustee and the other doesn’t. When you name a trustee, you’re essentially choosing someone to manage assets on behalf of your beneficiary rather than handing them over directly.
The upside is an in trust for arrangement allows you to have greater control over what happens to the assets that you’re passing on. Setting up an in trust for arrangement usually requires a little more paperwork than establishing a POD account.
Depending on the value of the assets in question, you might need an estate planning attorney’s help to set up an in trust for account.
Pros and Cons of POD
Payable on death accounts have advantages and disadvantages. Here are the main benefits to know:
• Account owners can decide who gets their assets, without needing to include them in a will.
• If you’re the account owner, you may appreciate the fact that you can leave assets to heirs and still have the use of them during your lifetime.
• Beneficiaries, on the other hand, may be unhappy about having to wait to gain control of those assets until you pass away.
Pros and Cons of In Trust For
In trust for arrangements have similar pros and cons. On the plus side:
• You’ll be able to pass money on to named heirs. If you’ve ever been in a situation where you’re trying to track down unclaimed money from deceased relatives, then you might appreciate an in trust for situation which would eliminate any questions about who gets what.
• This kind of arrangement could also be helpful in situations where it’s likely that heirs may dispute the division of assets. By creating an in trust for agreement, you can decide who will get the assets, who will manage them as trustee, and when beneficiaries can receive the assets.
• Again, both POD and in trust for accounts can be excluded from probate.
Also be aware of the potential cons:
• Trusts can be costly to establish if you’re working with an attorney.
• The trustee is also entitled to collect a fee for overseeing the trust, which can add to the total cost.
In trust for and payable on death are designed to make the process of passing on bank accounts and other financial accounts easier. You might consider setting up either one if you’d like to ensure that your assets go to the right people when you pass away. Your bank accounts typically have value, and you probably want to make sure that those assets you tended to during your lifetime get into the hands of the right people with a minimum of effort and expense.
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FAQ
Is In Trust For or Payable on Death better?
Whether it’s better to choose in trust for vs. payable on death can depend on the specifics of your situation. In trust for is usually better when you want to maintain a greater degree of control over the financial assets that you’re passing on. Payable on death may be preferable when you simply want to ensure that a specific beneficiary inherits a financial account.
Is ITF the same as POD?
ITF stands for in trust for, which is an arrangement in which a grantor establishes a trust to hold assets on behalf of one or more beneficiaries. POD stands for payable on death, which means that assets in a financial account are payable to one or more named beneficiaries when the account owner passes away.
What is the difference between In Trust For and a beneficiary?
In trust for means that a financial account or asset is being held in trust on behalf of one or more beneficiaries. A trustee is responsible for managing the assets for the beneficiaries, according to the terms set by the person who created the trust. A beneficiary is someone who stands to benefit financially from the death of another person, either by inheriting assets or receiving proceeds from a life insurance policy.
About the author
Rebecca Lake
Rebecca Lake has been a finance writer for nearly a decade, specializing in personal finance, investing, and small business. She is a contributor at Forbes Advisor, SmartAsset, Investopedia, The Balance, MyBankTracker, MoneyRates and CreditCards.com. Read full bio.
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Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
This article is not intended to be legal advice. Please consult an attorney for advice.
You may wonder if it’s possible to open a bank account for someone who is in prison. The answer is, yes, it may be possible to start a bank account for a prisoner, provided it’s allowed by the Department of Corrections in the state where the individual is incarcerated. (Worth noting: It may also be a challenge to find a bank that offers this kind of account.)
Opening an account can be a positive step. Being imprisoned can limit someone’s ability to pay bills, grow savings, and generally manage their finances. Opening accounts for inmates at external banks can help them to earn interest on savings while saving money on fees. And it can potentially make their reentry into society easier upon release.
While inmates may have access to prison accounts, those can come with high fees, and they typically don’t pay interest. A prison account is a special type of account that allows an inmate to store funds which can be used to pay for hygiene items and other necessities while they’re incarcerated. It doesn’t impact their lives when released.
So, let’s take a closer look at this topic:
• Whether it’s legal to open a bank account while in prison
• How to apply for a bank account while in prison
• What documentation is required to start an account
• What kinds of accounts are available, including whether joint accounts are a possibility
Let’s start learning about accounts for inmates.
Is It Legal to Open a Bank Account While in Prison?
It’s legal to open a bank account while in prison, unless state law or correctional facility policy specifically prohibits it. The best way to find out whether opening accounts for inmates is allowed is to check with the Department of Corrections in the state where the person is incarcerated.
In Texas, for example, the Department of Criminal Justice encourages inmates to open accounts at an external bank of their choice. They can then link this bank account to their prison account. This can be used to replenish their account for items bought while in prison. Excess funds in their prison account can also be transferred to their external bank account.
The state of New York, on the other hand, prohibits inmates from opening outside bank accounts. Specifically, prisoners are not allowed to open:
Inmates in New York are also barred from receiving distributions from any U.S. savings bonds they might own. Prisoners who enter the system with existing checking accounts or other bank accounts are required to close them.
So, if you are thinking of opening a savings account for an inmate, whether or not you can will depend on where they’re imprisoned. If you’re able to open some kind of savings account for an inmate, the next challenge may be finding a bank that will allow you to do so. Let’s look at that issue in a bit more detail next.
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Why Banks Might Refuse to Help Prisoners
Not all banks are willing to open accounts for prisoners. Financial institutions can establish their own policies for when opening accounts for inmates is or isn’t allowed. If you’re trying to figure out how to open a bank account for an inmate and you’re hitting a brick wall with banks, it could be due to one of the following:
• The bank requires a valid ID for the inmate, which you don’t have.
• You have not been granted power of attorney (POA) for the inmate.
• The inmate has a negative ChexSystems report (which is a reporting system for the banking industry) or previous issues with managing a bank account.
• The bank is concerned that funds deposited to the account might be seized by a government entity.
• The bank is concerned that the account may be used to conduct illegal activity.
It’s also possible that banks may be worried about running afoul of any rules or regulations established by their state’s Department of Corrections or Criminal Justice. In that scenario, it may be easier for the bank to simply not offer accounts for inmates to avoid any issues.
Applying for a Basic Bank Account for an Inmate
Let’s say that it is legal in the inmate’s state for them to hold a bank account, and you have found a financial institution that is willing to open an account. The next step would be to begin the account.
Keep in mind that opening accounts for inmates isn’t exactly the same as opening a checking account or savings account for yourself. In terms of how to open a savings account for an inmate, there may be one of three possibilities you can pursue. Again, the options you’re able to choose from could depend on what’s allowed by the inmate’s correctional facility and/or state.
Option 1: Specific Prison/Bank Arrangement
Correctional facilities may allow inmates to have outside bank accounts if they open them at an approved financial institution. For example, in Wisconsin inmates are allowed to open interest-bearing accounts at a bank that’s approved by the Department of Corrections.
If you’re trying to open a bank account for an inmate, you could check with the Department of Corrections or Criminal Justice to find out which banks are approved. The Department of Corrections should also be able to tell you what restrictions or requirements apply when opening accounts for inmates.
While some correctional facilities require inmates to open external accounts at approved banks, others give you some leeway in deciding where to bank. As noted, Texas encourages prisoners to open accounts at the bank of their choice if they like.
If you’re trying to open a savings account for an inmate, the hard part may be finding a bank that will allow you to do so. You can start by checking at your current bank to see if it’s an option. If not, you can then try contacting other banks in the area to see which ones offer inmate accounts.
Though not ideal, an inmate could simply wait until they’re released to open a savings account. This may be easier said than done, however, if the inmate isn’t able to meet the bank’s requirements for account opening.
What kind of requirements exactly? That could mean providing a valid ID and proof of address. And again, something like a negative ChexSystems report could lead the inmate to be denied a bank account. Unpaid balances or suspected fraud are other red flags that may result in an application for a new bank account being rejected.
Can Prisoners Be a Part of a Joint Bank Account?
You might be wondering how to open a joint bank account with an inmate or if it’s even possible. Whether a prisoner can open a joint bank account with someone else can depend on the bank’s policies. If you’re opening a joint bank account and the bank requires you to do so in person, for example, you may need to provide documentation showing why the joint account owner cannot be present.
Required documentation can include having power of attorney granting you legal authority to act on behalf of the inmate. The rules for establishing power of attorney and the scope of powers granted can vary from state to state.
If the bank allows you to open joint accounts online, then you may not be asked for this document. You will, however, likely need to provide the following for a joint account:
• The inmate’s name
• Their date of birth and Social Security number
• A current address, phone number, and email address
If you’re missing any of those pieces of information, you may not be able to proceed with opening a joint account online. You could call the bank to ask how you can finish the account setup if you run into issues.
Keep in mind that managing a joint bank account — one shared with an inmate before they’re incarcerated — may be handled differently. As mentioned, New York requires inmates to close existing accounts before entering prison. But other correctional systems may allow those accounts to remain open.
If you have a joint account with an inmate, it’s important to note whether any court orders exist or are likely to be filed that would allow for seizure of account assets for repayment of a nondischargeable debt, such as back child support, past due tax bills, and federal student loans. Keep in mind that co-borrowers for joint loans are equally responsible for shared debts, even if one person is incarcerated.
• Birth certificate when other forms of ID are unavailable
Opening bank accounts for inmates can require additional documentation if the bank needs a power of attorney form. An attorney can help you complete a power of attorney for an inmate, which may require a visit to the correctional facility if state law prohibits digital signatures. State law can also dictate whether a power of attorney for an inmate needs to be notarized in order to be legally valid.
Types of Bank Accounts for a Prisoner
The types of bank accounts you can open for a prisoner will generally be governed by Department of Corrections policy. But if you’re able to open a bank account for an inmate, you might be able to choose from these options:
These options may also be available once an inmate is released. If a former inmate is having trouble getting a regular checking account after release, they might consider second chance checking or a prepaid debit card instead. These can be easier to access and provide support for day-to-day banking in a way that can be very helpful.
• Second chance checking is designed for people who have been denied a checking account in the past. Usually offered at online or smaller, local banks, these accounts can help people to develop good banking habits so they can upgrade to regular checking later. They may not offer the full array of bells and whistles, and they may involve higher fees.
• Prepaid debit cards, meanwhile, allow you to load funds onto the card, which you can then use to pay bills, make purchases, or withdraw cash at ATMs. A prepaid debit card is not a bank account but it can provide a formerly incarcerated person with a way to manage their money until they can get an account at a bank.
The Takeaway
Having a bank account can be a positive experience for inmates, but opening a bank account for a prisoner can be quite challenging. Not all states allow inmates to start accounts, and not all banks are willing to have prisoners as customers.
Whether you’re opening accounts for inmates while they’re incarcerated or after they’re released, choosing the right place to bank matters. Specifically, it’s important to find a bank that offers the best combination of features and benefits for inmates and former inmates and makes it possible for you to open that account before the prisoner is released.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible 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 3.30% APY on SoFi Checking and Savings with eligible direct deposit.
FAQ
Can an incarcerated person open a bank account?
Whether an incarcerated person can open a bank account will depend on the policies set by the Department of Corrections in their state. Some correctional facilities allow inmates to have external bank accounts, while others limit inmates to having prison accounts only.
Can ex-prisoners have a bank account?
Yes, ex-prisoners can open bank accounts. However, their banking options may be limited if they have a negative ChexSystems report. Former inmates may consider second chance checking accounts if they’re unable to meet the requirements for a regular checking account.
How much money can a federal inmate have in their account?
The Bureau of Prisons (BOP) does not specify an upper limit on how much money a federal inmate can have in their prison account. Inmates can receive funds at a BOP-managed facility, which are deposited into their commissary accounts, by MoneyGram, Western Union, or U.S. Postal Service.
About the author
Rebecca Lake
Rebecca Lake has been a finance writer for nearly a decade, specializing in personal finance, investing, and small business. She is a contributor at Forbes Advisor, SmartAsset, Investopedia, The Balance, MyBankTracker, MoneyRates and CreditCards.com. Read full bio.
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.
Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.
Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.
See additional details at https://www.sofi.com/legal/banking-rate-sheet.
SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
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In this era of the Gig Economy, side hustles, and entrepreneurship, many people are freelancers. Working this way can offer flexibility and unlimited earning potential, but it can also bring a learning curve when it comes to managing your money. Financial planning for freelancers means knowing how to handle things like tracking income and expenses, planning for taxes, and investing for retirement.
Mastering freelance money management can take some time and focus, but it’s a worthwhile pursuit if it helps you to achieve your financial goals. The better you understand how to manage finances as a freelancer, the easier it can be to get ahead.
To help get on the right path, read on to learn, among other topics:
• Why financial planning is important for freelancers
• How to create a budget as a freelancer
• How to track cash flow
• How to separate business and personal expenses
What Is a Freelancer?
A freelancer is someone who gets paid to complete work on a per-job basis. Freelancers are independent contractors, not employees. A freelancer can work with multiple clients on a contract basis, performing a variety of tasks.
Why does understanding this definition matter for freelance money management? It’s important because freelancers are not entitled to the same financial perks as hourly or salaried employees.
As a freelancer, you’re responsible for handling things like retirement planning, health insurance, and taxes yourself. You also won’t have paid vacations and holidays the way employees do, which may factor into your cash flow and money management planning.
Why Financial Planning Is Important
What is financial planning? Financial planning is the process of creating a plan for managing your money. A financial plan can include both short-term and long-term goals and the steps you’ll need to take to achieve them. For example, your financial plan might include a strategy for paying off student loans or saving money toward a down payment on a home.
Financial planning for freelancers is important because you’re in charge of deciding what happens with your money. Learning how to manage finances as a freelancer can help you to:
• Create a workable budget, even if you have irregular income
• Formulate a plan for saving for retirement
• Stay on top of your tax obligations
• Streamline expenses so you can avoid debt
• Plan for emergencies or unexpected costs
Planning can be a pathway to good financial health. And it’s an opportunity to develop positive habits and improve your money mindset, both of which can benefit you throughout your freelance career.
11 Tips for Financially Planning as a Freelancer
If you’re new to freelance money management, you may not know where to start or what you even need to be doing. Having a blueprint to follow can make it easier to develop a workable plan for managing money. Here are some essential steps to include in your financial plan if you have a freelance mindset.
1. Having and Maintaining a Budget
A budget is a plan for spending the money you make each month. If you want to be better with money as a freelancer, then creating and sticking to a budget is non-negotiable. It will help you both understand and optimize your finances.
When making a freelancer budget, start with income first. If your income is irregular, it can help to create an average as your baseline. So you’d add up all the money you made from freelancing over the past 12 months, for instance, then divide by 12 to arrive at a monthly average income.
You can then plan out your expenses (more on that in a minute), using that average as your baseline. You’ll tally how much money flows out for necessities every month, and see how much profit you are making.
When you have higher-income months, you can stash extra money in a savings account to help cover expenses in months when income is lower. You’ll also want to put money towards an emergency fund and retirement (more details below).
2. Giving Yourself a Consistent Paycheck
When you freelance, there’s no such thing as a weekly or biweekly paycheck. Instead, you might get paid on different dates each month, depending on how your clients handle payments.
That can lead to uncertainty about when to pay bills. You can avoid that issue by giving yourself a consistent paycheck on a regular schedule. So you might pay yourself a set amount on the 1st and 15th of each month, for example.
To do that, you might need to set aside enough money to cover one month’s worth of bills in your checking account first. That way, you can pay yourself according to the schedule you set without having to worry about overdrawing your bank account.
3. Keeping Track of Your Expenses
Tracking expenses is central to managing money better as a freelancer, especially if you’re worried about going over budget. It’s important to keep tabs on both your personal expenses and your business expenses so you know how much you’re spending each month. When adding up your business expenses, be thorough: Do you rent an office? If so, don’t forget about the electrical bill and any cleaning services as expenses.
Also track the costs of legal fees, insurance, website hosting and any online advertising you may do. Some of these charges can be billed annually, and you may lose sight of them since they don’t recur.
Keeping up with business spending also matters from a tax perspective. There are a number of tax deductible expenses for freelancers that can help to reduce your tax bill.
For example, you might be able to write off marketing expenses if you maintain a website for your business or claim an office at home tax deduction. Having a paper trail to back up those deductions is important in case the IRS targets you for an audit.
4. Timing Your Freelance Projects
Staying booked and busy is every freelancer’s dream since no work means no income. Timing your freelance projects can help to keep your income and cash flow consistent, so that you’re not struggling to stay on top of the bills. For example, if you’re a freelance writer, you might set deadlines to allow yourself enough time to invoice for your work (and get paid) before certain bills come due.
There’s another dimension to timing to consider as well. It’s important to think about how much time it will take to complete a project when setting rates. Underestimating the amount of time involved could cause you to shortchange yourself when quoting rates to clients. A good rule of thumb is to assume that any project will take 20% to 50% longer than you think it will. Then base your rates on that higher number.
5. Paying Down Your Debt
Debt can be a stumbling block to getting ahead financially as a freelancer. If you have student loans, a credit card balance, or other debt, it’s to your advantage to create a plan for paying off your debt as quickly as possible.
If your income is irregular, your budget should be designed to ensure that your most important living expenses are paid first. You can then decide how much room you have left in your budget to commit to debt repayment.
Also, consider ways to make your debt less expensive. Refinancing student loans, for example, may help you to get a lower rate and monthly payment, if you qualify for them, which can ease budget strain. You might also consolidate credit card debt with a better APR (annual percentage rate) credit card or even a rate of 0% with a balance-transfer offer. This can help you save on interest, which could make it easier to pay off your debt.
Increase your savings with a limited-time APY boost.*
*Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.30% APY as of 12/23/25) for up to 6 months. Open a new SoFi Checking and Savings account and pay the $10 SoFi Plus subscription every 30 days OR receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 3/30/26. Rates variable, subject to change. Terms apply here. SoFi Bank, N.A. Member FDIC.
6. Separating Business and Personal Expenses
Keeping business and personal spending separate is a good idea for a few reasons. It makes it easier to create budgets for personal expenses and business expenses, so you know what you’re spending on each one. And you may encounter fewer headaches at tax time when trying to claim freelance tax deductions if business expenses are separate.
Opening a business bank account is a simple way to separate your spending each month. You can link it to your personal checking account in order to pay yourself your regular paycheck. You may also consider opening a separate business credit card to cover freelancing expenses if you can afford to pay the bill in full each month and avoid interest charges.
7. Investing in Insurance
As a freelancer, you don’t have access to employer-sponsored health insurance. So if you want to get covered, you’ll need to purchase a policy yourself. Self-employed individuals, including freelancers, can buy health insurance through the Health Insurance Marketplace.
When comparing health insurance plans, pay attention to:
• Premiums
• Deductibles
• Copays and coinsurance
• Coverage limits
You may also consider applying for health insurance through Medicaid if you have little to no income or financial resources. Eligibility for Medicaid is based on your income, household size, and assets. You can apply through your local department of social services.
In addition to health insurance, you may also want to look into insurance for your business. Liability insurance, for example, can protect you against claims arising from copyright infringement, libel, or defamation. That type of insurance can come in handy if you’re sued.
8. Having an Emergency Fund
An emergency fund is money that you set aside for unexpected expenses; say, a major car repair or medical bill. As a freelancer, an emergency fund can be invaluable if your work assignments dry up or you get sick and are unable to work temporarily.
In terms of how much to save for emergencies, three to six months’ worth of expenses is a commonly-used rule of thumb. But you might want to double or even triple that amount if your freelance income is irregular or you’re worried about a sustained client drought.
Recommended: Ready to build your emergency fund? Use our emergency fund calculator to determine the right amount.
Keeping your emergency fund in an online savings account is an option to consider. The annual percentage yield (APY) tends to be higher than what bricks-and-mortar banks offer. Online savings accounts may also charge fewer fees than traditional savings accounts.
9. Accounting for Taxes
Freelancing means you don’t have an employer taking out taxes from your paychecks. So you’ll have to handle taxes yourself.
Generally speaking, the IRS requires you to file an annual tax return and pay estimated quarterly taxes if you expect to owe $1,000 or more for the year. Quarterly taxes are essentially an advance payment against the amount of tax you’ll likely owe for the year.
Estimated taxes are due four times a year, typically:
• April 15 (1st payment)
• June 15 (2nd payment)
• September 15 (3rd payment)
• January 15 of the following year (4th payment)
Failing to make those payments on time can trigger penalties. If your state collects income tax, you’ll also need to make estimated payments to your state revenue agency.
You can use an online tax calculator to gauge how much you’ll need to pay for estimated taxes each quarter. It may be helpful to set up a separate business checking account or savings account to hold the money for those payments. As your clients pay invoices, you can allocate part of each payment to your tax account.
If filing taxes as a freelancer seems overwhelming, consider talking to an accountant or another tax professional who can help you figure out how much to set aside for taxes and how to maximize deductions in order to lower your tax bill. You may be surprised to learn about some business tax credits you didn’t know about.
10. Investing Your Money
Investing is key to building wealth since it allows you to take advantage of the power of compounding returns. If you already have an emergency fund in place, the next step in freelance money managing is creating an investment portfolio.
You can start with a retirement account if you don’t already have one. Freelancers can use traditional IRAs, Roth IRAs, SEP IRAs, and solo 401(k) plans to save for retirement. Each of these plans can offer a tax-advantaged way to save for the future. You can supplement your retirement savings with investments in a taxable brokerage account if you choose.
When investing as a freelancer, consider your risk tolerance and how much you have to invest, based on your budget. You may need to start with a small monthly amount, but you could build on that over time. The most important thing is to start saving and investing for the future.
11. Taking Advantage of Resources
Financial planning as a freelancer can be easier when you have the right tools and resources. For instance, some of the things you might consider incorporating into your plan include:
• Budgeting apps
• Tax management apps
• Online bank accounts for freelancers
• Investment apps
You can also search online for resources to help with things like insurance and tax planning.
Managing Finances With SoFi
Between managing deadlines, tracking invoices, and keeping up with client needs, freelancing can be demanding. Finding ways to simplify money management as a freelancer, including opening the right bank account, can save you valuable time and money.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible 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 3.30% APY on SoFi Checking and Savings with eligible direct deposit.
FAQ
How is freelancing paid?
Freelancers can get paid in a number of ways, depending on their clients’ preferences. For example, clients can send payments through PayPal, Stripe, direct deposit, or paper checks. When negotiating a freelance contract with a new client, it’s important to understand how and when you’ll be paid for the work you perform. In some professions, it can be typical for clients to take 30 days or longer to pay invoices.
Do you need insurance if you are a part-time freelancer?
If you freelance part-time while working a full-time job, you may be covered by a policy from your main employer. But if you have no insurance coverage at all, it could make sense to buy a policy for yourself through the healthcare marketplace. You may also want to look into buying separate liability insurance for your business.
What are some good freelancer jobs?
There are lots of ways to make money as a freelancer. Some of the highest-paying freelance gigs can include copywriting, graphic design, and editing. There are also a variety of freelance jobs that may be desirable because you can set your own hours, such as driving an Uber.
About the author
Rebecca Lake
Rebecca Lake has been a finance writer for nearly a decade, specializing in personal finance, investing, and small business. She is a contributor at Forbes Advisor, SmartAsset, Investopedia, The Balance, MyBankTracker, MoneyRates and CreditCards.com. Read full bio.
Photo credit: iStock/StefaNikolic
SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
3.30% APY
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.
Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.
Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.
See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.
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.
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.
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.
Want to boost your earning power? High-income skills can translate to a bigger paycheck since employers or clients may be willing to pay a premium to workers who possess them. Generally, high-paying skills are specialized skills that are considered to be in demand. Here, you’ll learn about 12 high-paying job skills, from generative AI (artificial intelligence) to UX (user experience) know-how, that may be worth picking up. They can hold the potential to help earn more money and achieve your financial goals.
Key Points
• High-income skills like generative AI, data analysis, and UX design are in demand and can significantly boost earning potential.
• Learning new skills is essential for adaptability and job security in a rapidly changing job market.
• Specialized training, whether received through degree programs, online courses, or trade schools, is often required to acquire high-paying skills.
• Soft skills, including communication and problem-solving, are valuable and can lead to high-income positions.
• Freelancing and side hustles provide opportunities to apply high-income skills and increase earnings.
Why Learning New Skills Matters
Adaptability and the ability to learn can be invaluable, whether trying to land your first job or gig or one farther along in your career. Learning new skills can help you to better keep up with a changing job landscape. Here, some points to consider:
• Acquiring high-income skills could make it easier to stand out among the crowd when competing for positions or freelance gigs. You may have a more diverse range of job options to choose from. Your skills may also translate to a larger paycheck if they’re sought-after by employers or clients.
• Some of the highest paying jobs are in the computer and information technology fields. If you’re able to learn the skills needed to get those jobs, either as a full-time employee or a freelancer, that could substantially boost your lifetime earnings.
• Relevancy is also a factor. If you’re up to date on the latest high-paying skills that could make you much more valuable in an employer or client’s eyes. Should the company or client need to cut back on staffing, your job could be secure if you hold a skill set that your colleagues can’t match.
The best high-income skills to learn are ones that can help you to increase your earnings while also doing work that you enjoy. Certain lucrative job skills may require a college degree to learn, while others can be acquired through online courses and certification programs. There are also skills you might be able to pick up without going to school.
Here are some of the best high-paying job skills to learn now, including remote job skills and tech skills, whether you are looking for a full-time or freelance job.
1. Artificial Intelligence (AI)
As you have likely heard, artificial intelligence, especially generative AI (aka GenAI), is a new technology that is transforming many fields. AI tools can enhance productivity and can be used in a variety of ways, from writing content for websites to providing customer service. One of the keys needs in this realm is to engineer prompts; that is, to fine-tune AI requests to get optimal feedback.
How Much Can Someone With AI Skills Make?
If you build AI skills, you might find a role as an AI developer (average base pay at the end of 2024 is $109,000) or an AI engineer (with a base pay of almost $133,000 on average). That could help you keep a competitive income flowing into your checking account.
What Education Do You Need?
Working with AI likely requires specialized training. This might be offered by a continuing education, professional skills, or trade school program, whether from a renowned university or a smaller organization. You may also find online courses from businesses like Coursera, which specialize in online learning.
2. Data Analysis
Another key skill to consider if you want to earn more is data analysis. Data plays a critical role in decision-making across an array of industries, and being able to gather, parse, and share data is a rising skill. There are many tools that can be part of succeeding at data analysis. Some may focus on working with programs such as Python, SQL, Tableau, or others.
How Much Can Someone With Data Analysis Skills Make?
With skills under your belt, you might expect to earn an average of about $85,000 base pay as a data analyst (who interprets data) to an average of almost $117,000 as a data scientist (who typically uses data to create predictive models). That could help you stash more money in your savings account or pay down debt.
What Education Do You Need?
You will likely need to build your skills. There are online courses, often ranging from four to 16 weeks, to start your education. These could be hosted by small, focused companies, local colleges, or high-profile universities, such as Harvard or Cornell’s online continuing education divisions. A data scientist will typically require a graduate degree.
3. SEO Skills
SEO, or search engine optimization, involves knowing how to structure website content in order to push it to the top of search engine rankings. This skill is in high demand, and businesses are willing to pay well for it. The reason: Higher search rankings can translate to more clicks and more purchases.
How Much Can Someone With SEO Skills Make?
It’s possible to find full-time SEO jobs, but you could also offer freelance SEO services if you’d like to be your own boss. The average annual pay for an SEO strategist is currently about $95,000.
What Education Do You Need?
Studying guides and information published by SEO experts can be a good starting point for learning more about this skill, and there are online courses as well, many of which provide certificates.
4. Cybersecurity
As so many aspects of our lives shift to digital realms, cybersecurity has been rising as a key need, for private individuals, enterprises, and the government. There has unfortunately been a significant uptick in online security breaches. These hacks can lead to sensitive data falling into the wrong hands as well as financial loss, bank fraud, and identity theft.
How Much Can Someone With Cybersecurity Skills Make?
Learning how to protect platforms and systems from these issues can be a valuable skill as well as one that can pay a competitive salary. According to the Bureau of Labor Statistics, the median pay for an information security analyst is approximately $120,000 per year.
What Education Do You Need?
Cybersecurity can involve training at such options as a trade school, continuing-ed program, or online academy to build skills. Certifications can be a valuable achievement as you gain deeper expertise. While you don’t necessarily need a college or postgrad degree, it can be helpful in opening doors to some paths in cybersecurity.
5. Copywriting
Copywriting involves creating written content that’s intended to inform, entertain, and/or persuade. Similar to email marketing, copywriters help businesses and brands to sell their products and services.
Some of the ways you could leverage high-income skills as a copywriter include writing website content, sales pages, marketing emails, sales brochures, or newsletters. Copywriting allows for further specialization if you’re focusing on a single niche. For example, you might write for petcare companies or companies in the beauty or wellness niche. If you cultivate a niche, copywriting can allow you to channel your personal interests (such as travel or fitness) into your work.
How Much Can Someone With Copywriting Skills Make?
The average salary for a copywriter is about $62,000, but the top 10% earn more than $121,000. Additionally, copywriting can be a pursuit that lends itself to gig work and freelancing, so it can be a way to bring in additional income.
What Education Do You Need?
Some people have an innate “way with words” and don’t need any specialized education to hold a job as a copywriter. Others may want to build their copywriting skills, which may be offered by a professional or continuing education school.
6. Software Development
Software developers create operating programs for computers and other devices. Keeping user needs in mind, they typically design, build, test, and then maintain software. They use a variety of skills and tools to do so, and may also create applications for mobile devices and computers.
How Much Can Someone With Software Development Skills Make?
According to the Bureau of Labor Statistics, software developers earn a median pay of about $120,000 per year, so this could be a good high-income skill to learn if you’re hoping to earn a six-figure salary.
What Education Do You Need?
Becoming a software developer starts with learning the basics of coding, which is something you might be able to do through a trade school or online coding bootcamp. Some of the skills you may need include knowledge of program languages Python, Java, JavaScript, and C++, among others.
7. Web Development
Web development is similar to software development, but the focus is on creating websites and web applications. Web developers need to be knowledgeable about programming languages like HTML, CSS, and JavaScript. They also have to be familiar with different website-building platforms, such as WordPress. A web developer may work with a web designer to create new sites for clients or redesign existing ones.
How Much Can Someone With Web Development Skills Make?
According to Ziprecruiter, typical pay for a web developer is around $93,000 in the U.S.
What Education Do You Need?
To learn web development, you’ll likely need to take an in-person or online course to start learning programming languages. There are likely many options, from those offered by coding academies to community colleges to universities professional studies divisions.
8. Project Management
Project managers oversee the completion of large-scale projects from start to finish, often in information technology (IT) or computer-related fields. The project manager’s primary duty is to help the company or client they’re working with achieve their end goals for the project.
How Much Can Someone With Project Management Skills Make?
According to the Bureau of Labor Statistics, the average salary of a project management specialist is just under $100,00 per year.
What Education Do You Need?
Project managers may require certain hard skills, such as coding knowledge, which can be learned via specialized training at, say, a trade school or via an online course. However, they can also utilize soft skills (more on those below), such as effective communication and the ability to direct a team.
9. UX Design
UX refers to user experience, or how a person interacts with a product or service. It’s an important element of websites and apps, as well as physical products and services. When consumers visit a website or log in to their favorite apps, they want them to be fast and easy to navigate. Likewise, when someone purchases something or signs up for an online service, they want it to function the way they’re expecting it to. UX design experts help to iron out the kinds to deliver the best user experience possible.
How Much Can Someone With UX Design Skills Make?
A UX designer can expect to make around $123,000 per year, according to Glassdoor.
What Education Do You Need?
User experience jobs can require specialized training, depending on whether UX design is delivered for a digital property or something more rooted in the offline world. You may need skills in the realm of information architecture, prototyping, and usability testing. These are typically learned via online courses, bootcamps, and certification programs, though there are also masters degree programs available.
Affiliate marketing means marketing another entity’s products or services and earning commissions each time someone makes a purchase. For example, a blogger who includes affiliate links to Amazon products in their web content might earn money if a reader clicks their links and buys something.
How Much Can Someone With Affiliate Marketing Skills Make?
If pursued as a full-time job, affiliate marketing typically earns a person about $82,000 per year. But affiliate marketing could be an ideal high-income skill to learn if you’re interested in generating passive income online or picking up some freelance work.
What Education Do You Need?
Affiliate marketing can typically be learned (at least the beginning stages) via online guides and courses.
11. Mobile App Development
Mobile apps are part of many people’s daily lives. They can offer convenience if you’re using them to log in to your online bank account or manage your investments. Other apps can provide entertainment if you’re using them to watch videos, play games, or listen to music.
Companies can hire mobile app developers to create apps and test them before releasing them to the market. It’s possible that you could even try moonlighting work, and create your own mobile app and sell it, in some cases building a six-figure business in the process. Or it could be your main gig.
How Much Can Someone With Mobile App Development Skills Make?
The current average salary for a mobile app developer is around $110,000, according to Ziprecruiter.
What Education Do You Need?
Mobile app development can be learned in a variety of ways, but one popular avenue is to take online courses at such platforms as Coursera, Udemy, and the like.
Soft skills are a diverse professional toolkit. They’re based on a different sort of knowledge that doesn’t involve learning how to code or develop software. Examples of high-paying soft skills include good communication skills, problem-solving skills, creative thinking, and time management skills. Employers and clients can value those skills just as much as some of the other high-income skills on this list. These skills can be used in high level administrative, coordinator, and management positions.
How Much Can Someone With Soft Skills Make?
While there’s no single skill to cultivate or average salary to cite, these capabilities can help propel a person to a high-income position.
What Education Do You Need?
Building soft skills doesn’t typically require formal coursework. You may find books and podcasts by respected experts that can help you cultivate some of these skills.
There isn’t one single skill that is destined to pull in major money in 2025. For instance, one person might make loads of money via affiliate marketing due to excellent instincts or having a product go viral, while another person might earn a minimal amount at the same pursuit.
However, a review of an array of sources finds that most say that AI, coding, and data analysis will be very valuable skills to have in the year ahead.
Tips for Developing High-Paying Skills
There are several options for learning the high-paying job skills you might need to succeed. Which one you choose can depend on the skills you want to learn and how much you know about them already. Some of the possibilities for developing high-income skills include:
Completing a two- or four-year degree program at a college or university
• Attending a trade school
• Utilizing online resources, like YouTube or blogs
• Taking paid online courses and earning certifications that are independent of a degree program
• Asking someone who already possesses your desired skill set to act as your mentor
• Working with a professional coach to help you develop your skills
Some of these options cost money; others don’t. If you’re on a tight budget, then you might want to start with free resources like well-rated YouTube tutorials. After that, you could consider what kind of investment you might want to make in a paid course or degree program.
Trade school can be more affordable than a four-year college or university for learning certain skills. Web development and coding are just two of the high-paying skills you could brush up on. Community colleges and continuing ed programs at universities may also offer affordable classes that will allow you to develop your talents.
If you’re considering applying high-income skills to start a freelance business, it’s also a good idea to give some thought to the financial side. Financial planning for freelancers includes things like budgeting for irregular income, learning how to set your rates, filing taxes, and saving for retirement.
The Takeaway
If your goal is to earn more money, learning some new high-income skills can definitely be worthwhile. From generative AI to UX design to copywriting, there are many avenues to pursue as you build expertise that can help you earn more money.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible 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 3.30% APY on SoFi Checking and Savings with eligible direct deposit.
FAQ
What high-income skills can you learn in college?
Depending on what classes a college offers, a student might learn about AI, data analysis, coding, web development, UX, and other high-income skills. Also, many colleges offer online courses or continuing education programs in these topics.
What high-paying skills can you learn for free?
Many of the skills that are high-paying can be learned for free, but it can be wise to make sure that free sources you may use (such as downloadable guides, YouTube videos, and the like) are from respected and reliable sources and have good reviews.
What is the easiest high-income skill to learn?
Determining the easiest high-income skill to learn is typically a matter of “it depends.” So much varies from person to person. One person might be a “natural-born” writer and thrive as a copywriter; another might find that they really spark to data analysis and can whip through a course on the topic.
About the author
Rebecca Lake
Rebecca Lake has been a finance writer for nearly a decade, specializing in personal finance, investing, and small business. She is a contributor at Forbes Advisor, SmartAsset, Investopedia, The Balance, MyBankTracker, MoneyRates and CreditCards.com. Read full bio.
Photo credit: iStock/nensuria
SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.
Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.
Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.
See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
This content is provided for informational and educational purposes only and should not be construed as financial advice.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
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.
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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.
About the author
Rebecca Lake
Rebecca Lake has been a finance writer for nearly a decade, specializing in personal finance, investing, and small business. She is a contributor at Forbes Advisor, SmartAsset, Investopedia, The Balance, MyBankTracker, MoneyRates and CreditCards.com. Read full bio.
Photo credit: iStock/MesquitaFMS
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