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A marine biologist can make an average base salary of $43,396 a year in the United States, according to ZipRecruiter. This can be an exciting career choice for those who love the water — being in it or near it — and are curious about the mysteries of aquatic life.

How much you can make as a marine biologist depends on a variety of factors, including where you live, how much experience you have, and your area of expertise. Let’s dive into how you might pursue your passion for the sea, while keeping your finances afloat.

What Are Marine Biologists?

A marine biologist is a scientist who studies the life forms and ecosystems of oceans and saltwater lakes. They typically enjoy collecting data and patiently observing natural phenomena. Marine biologists can play an important role in protecting marine life and promoting environmental sustainability.

While some may imagine marine biology as a solitary job, working quietly in a lab or swimming silently alongside dolphins, it’s not necessarily a job for introverts. Most marine biologists make their salaries by collaborating with teams of other people and sharing findings within the scientific community.

Some of the duties of a marine biologist can include:

•   Observing animals, microorganisms, and plants in oceans and saltwater lakes

•   Conducting studies on various species of sea animals and their ecosystems

•   Collecting samples of water, ocean plants, and microorganisms for laboratory research

•   Performing laboratory experiments, using specialized equipment to assist their research

•   Administering medical care to injured or ill marine animals

•   Tracking migration and the reproductive patterns of fish and marine mammals

•   Studying geological oceanography to learn about ocean features such as ridges, trenches, and rises that affect marine environments

•   Developing ways to preserve marine life

•   Promoting environmental sustainability

•   Collaborating and sharing data with other specialists in marine biology

•   Composing scientific papers and reports for peers and the public

•   Giving presentations at educational institutions and museums on marine life

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

How Much Do Starting Marine Biologists Make a Year?

Starting out, marine biologists can be paid hourly or receive a yearly salary.

The hourly rate for an early-career marine biologist is estimated to be around $16.83 — definitely higher than the federal minimum wage.

As the field typically requires professional expertise and commitment to long-term studies, marine biologists are usually paid a yearly salary. An entry level salary for a marine biologist in the United States tends to be around $35,000.

Most professions, including marine biology, probably aren’t going to offer $100,000 salaries to newcomers in the field. But there are ways to turn your passion for the ocean into more competitive pay opportunities.

What Is the Average Salary for a Marine Biologist?

A typical salary for a marine biologist is $43,396 a year. Here’s a bit more information: According to ZipRecruiter, the average competitive pay for a marine biologist as of October 2025 can range from $25,000 to $57,000. But some marine biology jobs can pay more.

How much a marine biologist makes can rely on their degree status, experience, and area of specialization. For example:

•  The national average for an oceanographer is $55,952 a year.

•  A marine veterinarian, who cares for animals such as sea turtles, fish, and whales, can earn a yearly salary of around $165,527.

•  Other high-paying marine biology jobs include marine biochemists, marine ecologists, marine mammal biologists, and marine geneticists. Some of these occupations can sometimes pay as much as $80,000 per year.

While a marine biologist can traditionally be a hands-on occupation, it is viewed as a scientific profession rather than a trade job.

Working marine biologists almost always have a minimum of a bachelor’s degree, with many acquiring a master’s or doctorate in a chosen area. Advanced degrees are often needed for higher-paying positions. (These, in turn, can leave a job seeker with student loan debt.)

What Is the Average Marine Biologist Salary by State?

A big factor in how much money a marine biologist makes depends on where they live. This means that state by state salaries will fluctuate. Here’s a look at average salaries by state, arranged alphabetically.

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

Marine Biologist Job Considerations for Pay and Benefits

You can increase your salary range as a marine biologist if you are willing to move to a higher-paying state, acquire an advanced degree, or specialize in certain areas of the field. But some factors that determine your salary are out of your control, including:

•  Funding/budget for your organization

•  Type of organization, meaning private vs. public

•  Economic conditions

•  Demand for your skill set

Since the majority of marine biologists earn a yearly salary, you may receive the following job benefits, among others:

•  Health coverage

•  Paid sick leave

•  Vacation days

•  Retirement plan participation

While pursuing a salaried position as a marine biologist, make sure you understand how much you need to make to maintain a comfortable lifestyle. Try creating a budget and check out financial tools that can help track your expenses vs. your income.

Pros and Cons of Being a Marine Biologist

If you have a scientific mind and love the water and marine life, being a marine biologist could be a dream job for you. Of course, even dream jobs can have their downsides.

Here are some of the pros and cons of working in the field of marine biology

Pros:

•  Traveling to new locations. Many marine biologists travel the world, with the oceans as their laboratories.

•  Working with a network of diverse people. Marine biologists work collaboratively, sharing data and consulting with a range of experts in the field.

•  Using state-of-the-art equipment. Marine biologists can have access to sophisticated high-tech gear in order to further their studies.

•  Evolving your career. There are many ways to branch out into specialized fields in marine biology, so you can continue to exercise your mind and, potentially, raise your salary.

•  Making a difference. Marine biologists have a chance to make an impact on serious environmental issues, especially in the areas of conservation and preservation.

•  Earning a good salary for something you love, especially if you pursue advanced degrees that open doors for highly paid positions.

Cons:

•  Long, isolated working hours. A marine biologist can be assigned to a research position out at sea for long periods of time. Being away from friends and family can take an emotional toll.

•  Physically demanding. Out in the field, you may be subject to severe weather conditions — extreme cold and sweltering heat.

•  Dangerous conditions. Typhoons, hurricanes, and storms at sea can put marine biologists at risk for injury.

•  Emotionally draining. Some marine biologists, when they see firsthand how humans are affecting the environment, may feel powerless to reverse the harm, which can be upsetting.

The Takeaway

The average figure for how much a marine biologist makes a year is $43,396. A career as a marine biologist can provide a sense of adventure and help protect the earth’s waters and aquatic creatures. It can involve travel and exploration which, depending on your outlook, can be a real plus, while allowing you to earn a living.

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

FAQ

Can you make 100K a year as a marine biologist?

Some specialized marine biologists can command a salary of $100,000 or more a year, including marine veterinarians and marine mammal biologists. The average marine biologist, however, may only earn around half that amount.

What do people like about being a marine biologist?

Some marine biologists love traveling to distant places, working with marine life, meeting new people, and working toward having a positive impact on the environment.

Is it hard to get hired as a marine biologist?

Finding a job as a marine biologist can depend on your field of expertise. Most marine biologists have, at a minimum, a bachelor’s degree, with many acquiring a master’s or doctorate. In addition, job opportunities will rely heavily on being able to relocate, if needed, to an area being studied.

Photo credit: iStock/Rainer von Brandis

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

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SORL-Q425-041

One rule of thumb when buying a home is to not spend more than three times your annual salary. If you earn $40K a year, that means you can afford to spend around $120,000 on a house, maybe a bit more if you have little or no other debts and a large down payment. However, depending on where you want to live, interest rates, and how much debt you’re carrying, that figure could change significantly.

Understanding how these factors play into home affordability can get you closer to finding a home you can afford on your $40,000 salary.

What Kind of House Can I Afford With $40K a Year?

If you earn around $40,000 per year, the kind of house you can afford typically depends on your debt, down payment, and local housing costs, but generally, you could afford a home mortgage loan of around $120,000.

This estimate assumes you have little to no other debt, a stable credit score, and can make a modest down payment. Shopping in areas with lower property taxes and considering first-time homebuyer programs or down payment assistance can also help you stretch your budget.

Understanding Debt-to-income Ratio

When purchasing a home, a potential lender will calculate your debt-to-income (DTI) ratio by adding all your monthly debts and dividing that number by your monthly income.

Your DTI ratio determines how much home you can afford. If you have more debt, you can’t afford a bigger monthly housing payment, which means you’ll qualify for a smaller home loan. For example, if your total debt amounts are $3,000 each month and your income is $6,000 per month, your debt-to-income ratio would be 50%. This is well above the 36% guideline many mortgage lenders want to see.

💡 Quick Tip: To see a house in person, particularly in a tight or expensive market, you may need to show the real estate agent proof that you’re preapproved for a mortgage. SoFi’s online application makes the process simple.

How to Factor in Your Down Payment

A down payment can also drastically impact home affordability. If you have a larger down payment, you’ll be able to afford a higher-priced home. With a down payment of 20% or more, you’ll be able to avoid the added expense of private mortgage insurance (PMI), which will in turn increase the loan amount you’ll be able to qualify for.

Try using a mortgage calculator to see how different down payment amounts can affect how much home you’ll be able to qualify for.

Factors That Affect Home Affordability

To complete the picture of home affordability, you’ll also need to consider these factors:

•   Interest rates: A higher interest rate means you’ll qualify for a smaller home purchase price. A lower interest rate increases how much home you’ll be able to afford. To qualify for a better interest rate, work on building your credit score.

•   Credit history and score: Your credit score directly affects home affordability. With a good credit score, you’ll qualify for a better rate, which means you may qualify for a higher mortgage.

•   Taxes and insurance: Higher taxes and insurance can also affect home affordability. Your lender has to take into account how much you’ll be paying and include it as part of your monthly payment.

•   Loan type: Different loan types have different interest rates, down payment options, and credit requirements, which can affect home affordability.

•   Lender: Your lender may be able to approve you at a higher DTI ratio — some lenders will allow the DTI to be as much as 50%.

•   Area: The cost of living in your state is a top factor in determining home affordability. Price varies greatly around the country, so you may want to consider moving to a more affordable area, if possible.

Recommended: Best Affordable Places to Live in the U.S.

How to Afford More House With Down Payment Assistance

If you make $40,000, how much house you can afford also depends on what programs you’re able to qualify for. Down payment assistance programs can help with home affordability. These programs offer a grant or a second mortgage to cover a down payment, and are often offered by the state or city you live in.

They may be restricted to first-time homebuyers or low-income borrowers, but these programs are worth looking into. Examples include Washington state’s Home Advantage DPA and Virginia’s HOMEownership DPA. Look for programs in your state, county, and city.

💡 Quick Tip: Backed by the Federal Housing Administration (FHA), FHA loans provide those with a fair credit score the opportunity to buy a home. They’re a great option for first-time homebuyers.

How to Calculate How Much House You Can Afford

Lenders often follow the 28/36 rule, looking for a housing payment less than 28% of a borrower’s income and total debt payments less than 36% of your income. Here’s how to calculate it.

Back-end ratio (36%): The back-end ratio is your debt-to-income ratio. Add together all of your debts (including the new mortgage payment) to make sure all debts are under 36% of your income. If your monthly income is $3,333 ($40,000/12 = $3,333), your debts (including the mortgage payment) should be no more than $1,200 ($3,333*.36).

Front-end ratio (28%): With a monthly income of $3,333, this number works out to $933.

The 35/45 Rule: It’s possible to qualify for a larger mortgage based on the 35/45 guideline, which is used at the discretion of your lender. With a monthly income of $3,333, the housing allowance (35% of your income) increases to $1,167 and the total monthly debts (45% of your income) increases to $1,500.

An easy way to calculate how much home you can afford is with a home affordability calculator.

Home Affordability Examples

For homebuyers with a $40,000 annual income ($3,333 per month), traditional guidelines of a 36% debt-to-income ratio give a maximum house payment of $1,200 ($3,333 * .36). Each example has the same amount for taxes ($2,500), insurance ($1,000), and APR (6%) for a 30-year loan term.

Example #1: Too much debt

Monthly credit card debt: $100
Monthly car payment: $300
Student loan payment: $300
Total debt = $700 total debt payments

Down payment = $20,000
Maximum DTI ratio = $3,333 * .36 = $1,200
Maximum mortgage payment = $500 ($1,200 – $700)

Home budget = $54,748

Example #2: Low-debt borrower

Monthly credit card debt: $0
Monthly car payment: $100
Student loan payment: $0
Total debt = $100

Down payment: $20,000
Maximum DTI ratio = $3,333 * .36 = $1,200
Maximum mortgage payment = $1,100 ($1,200 – $100)

Home budget = $141,791

How Your Monthly Payment Affects Your Price Range

As shown above, your monthly debt obligations affect how much house you can afford. With significant debt, it’s hard to make a mortgage payment that qualifies you for the home you want.

It’s also important to keep in mind how interest rates affect your monthly payment. By paying so much interest over the course of 30 years, even small fluctuations in interest rates will affect your monthly payment. That’s why you see your neighbors scrambling to refinance their mortgages when interest rates drop.

Types of Home Loans Available to $40K Households

There are different types of mortgage loans available for households in the $40K range:

•   FHA loans: With Federal Housing Administration (FHA) loans, you don’t have to have perfect credit or a large down payment to qualify. In fact, you can apply for an FHA loan with a credit score as low as 500.

•   USDA loans: If you live in a rural area, you’ll definitely want to look at United States Department of Agriculture (USDA) loans. You may be able to qualify for a USDA mortgage with no down payment and competitive interest rates.

•   Conventional loans: For borrowers with stronger financials, conventional loans are some of the least expensive mortgages in terms of interest rates, mortgage insurance premiums, and property requirements. They’re backed by the federal government, and if you’re able to qualify for a conventional mortgage, it could save you some money.

•   VA loans: For qualified veterans and servicemembers, the U.S. Department of Veterans Affairs (VA) loan is quite possibly the best out there. There are zero down payment options with great interest rates. If your credit is hurting, you still might be able to get a loan since the VA doesn’t have minimum credit score requirements (though the individual lender may).

The Takeaway

With proper planning, a salary of $40K should be able to get you into a home in many U.S. markets. However, you’ll want to make sure you keep a close eye on your credit score and save up for a down payment or find programs to help with one. Over time, the small, determined steps you take will lead you to your goals.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

FAQ

Is $40K a good salary for a single person?

A $40,000 salary for a single person is a good start, though it is below the median income for a single person, which is $62,088, according to the U.S. Bureau of Labor Statistics.

What is a comfortable income for a single person?

A comfortable income for a single person varies by location and lifestyle, but generally, $40,000 to $60,000 per year is considered comfortable in many U.S. cities. This range allows for a decent standard of living, covering basic needs, some savings, and occasional luxuries. Adjustments may be needed based on cost of living and personal financial goals.

What is a liveable wage in 2025?

A livable wage in 2025 varies by location and lifestyle. In the U.S., it generally ranges from $15 to $25 per hour, or about $31,200 to $52,000 annually, depending on the city.

What salary is considered rich for a single person?

A salary of $400,000 per year would put you in the top 2% of earners in 2025. However, the definition of “rich” varies by person. One person may feel rich earning $100,000 per year, whereas for another, it may take $750,000 per year.

Photo credit: iStock/stevecoleimages

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

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

SOHL-Q425-173

First things first: You need to understand what, exactly, you’ve inherited, with whom you may need to share the inheritance, and what liens (including but not limited to mortgages) are attached to the property. So after taking a moment to appreciate what a monumental event inheriting a house is, you’ll want to get down to the business of managing this important new asset.

The Legal Steps of Inheriting a House

Inheriting a house through a will or trust is a big deal, whether you knew that you were going to inherit the property or it comes as a complete surprise. From a financial standpoint, inheriting a house that is fully paid off can be quite different from inheriting one with a mortgage. If you don’t inherit the house free and clear, the outstanding balance on the mortgage can become your responsibility (or a responsibility that you must share with any other heirs who share in the house).

When someone dies and leaves a will, that will is typically presented to a probate court judge, (although not all wills are probated). That judge would then review the will. Typically, a will contains the name of an executor — the person whom the deceased wants to help carry out the wishes listed in the will.

The judge may approve the name of the executor listed in the will or name someone else for the task. Once there is an executor, that person has the fiduciary duty to make sure the terms of the will are carried out.

Specific duties of an executor as it relates to the house can include locating all the people who, according to the will, are to share in the ownership of the house and safeguarding the property until it is passed to the recipient(s). When a home is willed to someone, that person has a “right to ownership,” but he or she doesn’t actually own the home until the title is transferred into their name.

Inheritance situations can be reasonably simple or quite complex, and what’s true in one state isn’t necessarily so in another. Any questions you have about the legalities of your particular situation should be addressed with an attorney well versed in the laws of your state.

💡 Quick Tip: With SoFi, it takes just minutes to view your rate for a home loan online.

Steps to Take When You Inherit a House

Once you are notified that you have inherited a house, there are some actions that need to be taken fairly quickly:

•   It’s important to quickly determine whether there is a mortgage (or a home equity loan, or both) on the property. If so, you will need to determine how to keep up the payments and find out whether property taxes and insurance are rolled into the mortgage payments. An involuntary lien, such as those related to unpaid taxes, are also a possibility and can be identified through a title search.

•   If property taxes are not rolled into the mortgage, they may need to be paid separately (this might include overdue taxes). When you inherit a home — with a mortgage or free and clear — you may need to pay property taxes as soon as you inherit. The home can also be reassessed at current market value at this point, which may cause an increase in property tax. If you have questions about property taxes, insurance, and the like, the executor of the estate might be a good resource.

•   Contact the insurance company that’s providing homeowners insurance for the property to keep coverage from lapsing.

•   Consider getting the home appraised. This will help later, should you decide to sell the house, because it will help determine capital gains taxes (more on that later). And if you are one of multiple heirs, having an appraisal could help you start the conversation in the event that one of you wishes to buy the other out.

•   Call utility companies and cancel accounts that aren’t necessary (for example, cable television if no one will be living in the home immediately) and make arrangements to pay those that are necessary (heat, light, water, trash pick-up).

•   Determine how to keep up the yard and check or stop the mail. An untended property invites break-ins, and an overgrown yard can face fines from city government or a homeowners association.

•   The home may be full of furniture and belongings that need to be distributed to family members, sold, donated, or disposed of. The executor can help determine whether the will designates that certain items inside the home are destined for specific heirs.

Deciding if You Should Sell an Inherited House

You’ll quickly face the decision about what to do with the house you’ve inherited. You might want to move in yourself, but if you and your siblings, say, inherited it as joint owners, you’ll need to agree on a plan. If the property is a family home, emotions can come into play here. (Heirs who can’t agree may need the court system to sort things out.)

If you’re the one who wants to live in the home and your fellow heirs aren’t interested, you could pay them rent or you could explore assuming any existing mortgage, meaning the terms would stay the same but the mortgage would be in your name. This isn’t always possible, and it is only a smart move if the terms of the existing mortgage are better than what you would get with a new loan. Otherwise, you could consider taking out a new mortgage and using the loan to pay your fellow heir(s).

You could also rent the house to someone else as a source of income and divide the proceeds among joint heirs, minus the cost of a property manager and any costs of home repairs and upkeep.

Another solution, of course, is to sell the house. Bear in mind that you will need to pay capital gains tax on any increase in value that occurs between the time you inherited the property and when it’s sold.

💡 Quick Tip: Apply for a cash-out refi for a home renovation, and you could rebuild the equity you’re taking out by improving your property. Plus, you may be able to deduct the additional interest payments on your taxes.

Using the Equity in an Inherited House

Another option you have when you inherit a house, assuming there isn’t a large mortgage or liens already on the property, is to use the equity in the home to finance renovations that could increase the home’s value or supply cash for your other needs. If you have taken over the mortgage, you could consider a cash-out refinance. In this process, you take out a new mortgage loan for the amount owed on the current mortgage, plus an additional sum in cash that you can use for any purpose. “If you’re trying to set a budget for a home addition, you can start by obtaining bids from three professionals, then adding in 15-20% to the overall project price given by the contractor to cover unforeseen costs,” says Brian Walsh, CFP® and Head of Advice & Planning at SoFi.

The Takeaway

Inheriting a house brings lots of responsibility and many questions — and sharing in an inherited property can be even more complicated, especially if it is a place that holds many memories for family members. But with some quick moves to protect your new asset and calm consideration of whether to inhabit, rent, sell, or renovate, you can enjoy the benefits of the inheritance for years to come.

SoFi can help you save money when you refinance your mortgage. Plus, we make sure the process is as stress-free and transparent as possible. SoFi offers competitive fixed rates on a traditional mortgage refinance or cash-out refinance.

FAQ

What’s the first thing to do after inheriting a house?

Your first step after inheriting a house should be to make sure the property is secure in every sense: Make sure the house is locked and that the heirs and executor have a key. Verify that the mortgage and taxes are paid up so that the property isn’t at risk of foreclosure or a lien, and transfer the home insurance policy to your name so that it will remain in effect. Then work on getting the name(s) of the heirs onto the property’s deed, securing it from a legal point of view.

Is there a downside to inheriting a house?

An inherited house can be an emotional and financial burden. If the inherited property is shared among siblings or other relatives, it can strain relationships if not everyone agrees on how to handle the property. And during these discussions, the house will have bills that need to be paid, potentially including the mortgage, property taxes, utilities, and maintenance expenses. If you don’t want to sell immediately, the home can put a strain on your finances.

Photo credit: iStock/Pheelings Media

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

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

SOHL-Q425-176

Phlebotomists have a median pay of $43,660 per year or $20.99 an hour, according to the latest data from the Bureau of Labor Statistics (BLS).

In addition to a stable salary, the profession offers flexibility, versatility, and opportunities for advancement. However, before you can start work, you’ll need to earn a certificate from a postsecondary phlebotomy program.

Here’s a look at the earning potential of phlebotomists and the pros and cons of this career.

What Are Phlebotomists?

An essential supporting member of the healthcare community, phlebotomists are responsible for drawing blood for donations, medical exams, procedures, or research. They also help support patients who may be anxious about the blood draw or who struggle with an adverse reaction post-draw.

Other job duties often include:

•  Verifying a patient’s identity

•  Collect and labeling blood or other samples

•  Entering sample information into a database

•  Assembling, disposing of, and maintaining medical instruments

•  Cleaning and sanitizing the work area and equipment

•  Shipping or transporting blood or samples

Because phlebotomy requires a good bedside manner, it may not be the best fit for antisocial people.

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

How Much Do Starting Phlebotomists Make?

Those new to the field can expect to earn less than the average — the lowest 10% of phlebotomist earners bring home less than $34,860, according to the BLS.

However, the earning potential of an entry-level phlebotomist typically goes up as they gain work experience and skills. BLS data shows that the top 10% of phlebotomist earners earn more than $57,750.

No matter where you are in your career, having a budget can be an important tool for tracking spending and savings goals. A money tracker app can give you real-time insights so you can continue making progress on your financial goals.

What Is the Average Salary for a Phlebotomist?

Where someone lives can play a role in how much income they earn as a phlebotomist. As the following table shows, phlebotomists in some states earn a much higher salary than others. For example, in Oregon, a typical salary is $48,620 a year; in Florida, it’s $40,570.

What Is the Average Phlebotomist Salary by State?

Recommended: Is a $100,000 a Year Salary Good?

Phlebotomist Job Considerations for Pay and Benefits

When researching how much money a phlebotomist makes, it’s important to factor in potential benefits.

While the median annual wage for phlebotomists is $43,660, their total compensation package can be much higher if they qualify for benefits like health insurance or a 401(k) match. Because it’s common to hold a full-time role as a phlebotomist at a hospital or lab, it’s possible to find a role that offers a standard suite of employee benefits, like paid vacation and dental coverage.

Looking to get the most competitive pay? Consider focusing your job-search efforts on work settings that tend to pay more. Let’s take a look at the median annual salary for phlebotomists in a few different workplaces:

•   Outpatient care centers: $48,450

•   Medical and diagnostic laboratories: $45,700

•   Hospitals: $41,490

•   Offices of physicians: $40,480

•   All other ambulatory healthcare services: $39,180

Recommended: Salary vs. Hourly Pay

Pros and Cons of Phlebotomist Salary

Like any career path, phlebotomy has its share of advantages and disadvantages.

💡 Quick Tip: When you have questions about what you can and can’t afford, a spending tracker app can show you the answer. With no guilt trip or hourly fee.

The Takeaway

Phlebotomists can expect to earn $20.99 per hour, which translates to $43,660 per year. But their earning potential can rise as they gain experience and skills, or if they work in a more lucrative setting, like an outpatient care center.

If you have a steady hand and a good bedside manner, then a career in phlebotomy may be a good fit for you.

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

FAQ

What is the highest-paying phlebotomist job?

Typically, phlebotomists who work in outpatient care centers make the most out of their peers. The median salary for phlebotomists in outpatient care centers was $48,450 as of 2024, per the BLS.

Do phlebotomists make $100K a year?

Typically, phlebotomists don’t earn a $100,000 salary. The median annual wage for phlebotomists is $43,660, and only the highest 10% of earners make around $57,750.

How much do phlebotomists make starting out?

When first starting their careers, phlebotomists should expect to make lower than the median annual wage for this role. The lowest 10% of earners in this role earn less than $34,860. However, their income may rise as they gain more experience.

Photo credit: iStock/SDI Productions

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

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

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

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

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Social workers make $61,330 a year on average, according to the Bureau of Labor Statistics. Higher-end social work positions requiring more experience and education can pay up to $116,500 annually, while the lowest-paying positions in the industry pay $41,580, on average.

Imagine a career where you profoundly impact a person’s life, guiding them through the most significant challenges and triumphs. Social workers embody this transformative role, dedicating themselves to the betterment of individuals, families, and communities. In a world where making a living intersects with the noble pursuit of helping others navigate life’s complexities, social work emerges as a rewarding and impactful vocation.

Here’s how the multifaceted roles, responsibilities, and considerations associated with social workers compare with the average annual pay in the field.

What Are Social Workers?

Social workers are professionals whose mission is to enhance the well-being and quality of life of individuals, families, and communities. A social worker’s education prepares them to address a wide range of social issues and challenges. For example, social workers help those dealing with substance abuse, relational problems, housing issues, domestic violence, and employment challenges.

On a broader scale, these professionals advocate for social justice and equality. Social workers can work in various settings, including schools, hospitals, government agencies, prisons, nonprofit organizations, and private practices.

Social Worker Job Responsibilities Examples

Here are some key aspects of what social workers do:

1.   Assessment and intervention: Social workers assess the needs and strengths of individuals and communities through interviews, observations, and evaluations. Then, they develop intervention plans to address identified problems and help clients overcome challenges.

2.   Counseling and support: Social workers provide counseling and support to individuals and groups dealing with issues such as mental health, substance abuse, domestic violence, grief, and trauma. They offer advice and coping techniques to help clients respond to difficult situations in a positive way.

3.   Advocacy: Social workers advocate for their clients’ rights and interests, ensuring they can access necessary resources and services. Positions in systemic advocacy are available to social workers who want to change policies and structures contributing to social problems.

4.   Case management: Social workers often coordinate and manage client services, connecting them to appropriate assistance and support from various agencies and organizations. For example, a client may need to see a doctor, a therapist, and an employment advocate as part of their plan to move forward.

5.   Child and family services: Social workers play a crucial role in child welfare, working to protect children from abuse and neglect. They may provide family support services, conduct home visits, and collaborate with other professionals to create safe and stable environments for children.

6.   Medical and health care social work: Social workers can also assist clients facing medical challenges. They may introduce helpful lifestyle changes, facilitate communication between patients and medical professionals, and address issues related to illness or disability.

7.   School social work: Social workers in schools support students, families, and educators by addressing academic, social, and emotional challenges. They may provide counseling and crisis intervention for students struggling to thrive and learn.

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How Much Do Starting Social Workers Make a Year?

In the United States, entry-level social workers have salaries that range by location, with the bottom 10% earning less than $41,580.

However, social workers can boost their salaries in various ways. For instance, climbing the ladder at an agency can land you a director of social work position with a salary between $71,000 and $116,500. This position usually requires higher education and many years of experience.

Moving can also help increase your pay. For example, the highest-paying positions in California offer $97,090 per year, while the average social worker in Alabama makes $57,050 per year.

No matter how much you’re earning, it’s a good idea to set and track financial goals. A money tracker app is one tool that can help you monitor your spending and saving.

What Is the Average Salary for a Social Worker?

How much do social workers make in each state? According to the U.S. Bureau of Labor Statistics, the average annual wage for a social worker nationwide is $61,330. But here’s a breakdown of the average health care social worker salary by state:

Social Worker Job Considerations for Pay & Benefits

If you’re considering social work as a career, your potential salary can be higher than the average salary in the United States. Specifically, social workers earn $61,330 per year on average, with the top 10% earning more than $99,500.

Your salary can soar past $100,000 in specific situations, such as in a director position or as a master’s level specialist. As a result, while social work isn’t among the top-earning trades, the career can be a path to a decent quality of life while you work to help others.

Additionally, social workers who work full time typically receive excellent benefits. A typical package includes health insurance, life insurance, paid time off, and professional development opportunities.

Remember, ongoing education is a requirement for keeping and renewing your social work license, so receiving these opportunities through your employer can streamline the process.

Recommended: 25 High-Paying Trade Jobs in Demand

Pros and Cons of Social Worker Salary

Every career has its upsides and downsides. Here’s what to know if you’re going into social work:

Pros

•  Higher than average annual salary. The average compensation for social work positions is higher than the overall average salary in the United States, as described above. Combined with a robust benefits package, social work’s competitive pay can help you and your family afford a comfortable quality of life.

•  Job security. Social work is here to stay. Specifically, the U.S. Bureau of Labor Statistics estimates annual growth of 6% in the field for the next decade. This rate is faster than the overall average in the country, signifying increasing demand for employees in this sector.

•  Builds transferable skills. For instance, human resources positions require communication, interpersonal, and conflict management skills. So, if you get into social work and realize you want a different career, you can take your skill set elsewhere.

•  Online education opportunities. While social work does require at least a bachelor’s degree, many programs are available online. This way, you can earn your degree at your own pace without needing to relocate.

•  Student loan forgiveness. Social workers might be able to get their student loans forgiven. Specifically, 10 to 25 years of nonprofit work might qualify you for federal student loan forgiveness. This perk erases whatever student loan you have left, which could be $100,000 or more.

Cons

•  Education requirements. For instance, you’ll need at least a bachelor’s degree from an accredited school to become a social worker. Obtaining this degree will take at least four years and could cost over $100,000 for tuition. Additionally, a master’s degree is usually required to hold the top positions in the field and increase your salary. Doing so adds at least two more years of education plus the associated tuition costs.

•  Must have a license to practice. Licensure is necessary to practice as a social worker. Becoming licensed means working for a few years under supervision and passing an exam. Then, you must complete a certain number of continuing education hours to maintain your license.

•  Demanding work environment. You might face long hours, an overpacked caseload, call hours on holidays and weekends, and potentially dangerous situations. Remember, social work means seeing people at their lowest, and these circumstances can involve substance abuse, violence, and crime. The job rarely offers work-from-home opportunities; instead, it requires a personal presence. Because of the intense needs of your clients and the long hours, you may burn out despite having the best intentions.

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

The Takeaway

Social workers are dedicated professionals committed to improving the well-being of individuals, families, and communities. Their multifaceted roles encompass assessments, interventions, counseling, advocacy, and case management. While the financial landscape varies, social workers can enhance their earnings through specialization, higher education, and relocation. With an average annual salary of $61,330 and a field experiencing a 6% growth rate, social work offers competitive compensation and job security.

Despite the challenges, including educational requirements and demanding work environments, the profession remains rewarding, offering the opportunity to improve the lives of others and contribute to societal well-being.

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FAQ

Can you make $100K a year as a social worker?

You can make $100,000 a year as a social worker in the highest positions in the field, as the highest 10% of social workers earned more than $99,500 per year.

Do people like being a social worker?

Social workers enjoy their jobs because of the positive impact they can make on people’s lives while earning a competitive salary. Plus, the field offers ways to grow professionally and expose yourself to different disciplines and opportunities.

Is it hard to get hired as a social worker?

Getting hired as a social worker means getting a four-year degree and passing an exam to obtain a state license to practice. However, if you can earn these qualifications, getting hired as a social worker is easier because the demand for social workers is projected to grow by 6% in the next decade, according to the U.S. Bureau of Labor Statistics.

Photo credit: iStock/SDI Productions

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

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

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

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

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

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