It was an interesting day for the bond market. Yields dropped to the lowest levels in more than 3 weeks amid several apparently valid motivations. But upon closer inspection, most of the improvement happened far enough away from those motivations to give them much credit. On a day with JOLTS (job openings data) and a Powell testimony, the most obvious market mover was a series of headlines and trading halts surrounding NYCB, although those ultimately canceled each other out. We’re left with modest but important improvement ahead of Thursday’s ECB announcement and Friday’s jobs report.
ADP Employment
140k vs 150k f’cast, 107k prev
Job Openings
8.863m vs 8.9m f’cast, 9.026m prev
09:00 AM
Sideways to slightly weaker overnight, but gains kicked in at 7am. 10yr down 2.8bps at 4.123. MBS up an eighth. ADP and Powell’s prepared remarks doing no damage.
10:01 AM
Minimal reaction to JOLTS. 10yr down 4.7bps at 4.104. MBS up 9 ticks (.28).
12:31 PM
Gains on NYCB circuit breaker at 11:53am ET. MBS up 10 ticks (.31). 10yr down 6bps at 4.092
02:50 PM
Some volatility surrounding NYCB headlines. MBS off highs, up a quarter point on the day. 10yr down 4.3bps at 4.108.
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Hedging, Renovation, QC, Validation, Verification Products; Investor and Correspondent News and Metrics
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Hedging, Renovation, QC, Validation, Verification Products; Investor and Correspondent News and Metrics
By: Rob Chrisman
6 Hours, 35 Min ago
“I saw a woman at Walmart with March Madness teeth… She was down to the final four.” No one is talking about 30-year mortgage interest rates heading down into the 4’s; many would be happy if they came down into the 5’s. Heck, forget about mortgage interest rates because they’re going to do what they’re going to do. Originators are equally interested in potential or existing borrowers. New data reveals that Americans are spending nearly as much on interest payments for credit cards and other kinds of consumer debt as they are on mortgage interest. But hey, if your client has their debt under control, LOs can help them by passing along Home Facts so that they can do an analysis of where they might like to live. (Found here, this week’s podcast is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology and other services to the mortgage industry for almost four decades. Hear an interview with Lending Tree’s Jacob Channel on the rent-versus-buy debate and just how far people should stretch their finances to achieve the dream of homeownership.)
Lender and Broker Services, Products, and Software
Collecting interim servicing payments is a pain, but not with Fee Chaser. With its seamless integration into Encompass® by ICE Mortgage Technology™, Fee Chaser automates upfront fee collection and can handle those pesky interim servicing payments as well. Check out Fee Chaser by LenderLogix here.
Today’s mortgage landscape demands greater efficiency. Xactus, a leading verification innovator, makes it easy to obtain all the verifications lenders need to be more efficient and advance the modern mortgage. For example, with its ICE Mortgage Technology Encompass Partner Connect™ integration, you can streamline your consumer verifications. Encompass Partner Connect provides direct access to Xactus verification products including Credit ReportX, Flood ReportX, Undisclosed Debt VerificationX, Tax TranscriptX, Employment VerificationX, Income VerificationX, Fraud ReportX, and Social Security VerificationX. In fact, Xactus was the first third-party service provider to integrate credit with Encompass Partner Connect, and won the 2023 ICE Innovation Award for Lenders’ Choice for Innovative Service Provider. Heading to the ICE Experience in Las Vegas? Experience Xactus’ award-winning innovation. Stop by Xactus’ booth or email [email protected] to schedule a meeting. For the latest updates and news about important industry innovations, follow Xactus on LinkedIn.
If you thought McDonald’s® invented the combo meal, you’d be wrong. The honor actually belongs to defunct fast-food chain Burger Chef, which introduced the classic trio of burger, fries and a drink as one meal. Known as “The Triple Threat,” it sold for just $0.45. While that kind of pricing belongs to a bygone era, lenders using Fannie Mae’s Desktop Underwriter® (DU®) validation service can enhance their validation processes by leveraging AccountChek by Informative Research to validate income, employment and assets with a single report. By using direct deposit banking data to evaluate income and employment, lenders can streamline borrower eligibility. Additionally, current AccountChek users don’t have to change their process. The AccountChek report they have been using for years already provides the needed transaction data to DU. To get started, visit Fannie Mae’s webpage, and submit the request form to begin the activation process.
Most lenders are painfully aware of rising loan origination costs, which is a common trend in a down market. But certain costs like credit (surging by 400 percent) and verifications (up by 141 percent) have soared disproportionately, with incumbent providers exploiting their market dominance as virtual monopolies. Yet some lenders are fighting back… Like Lower, which has found a way to save as much as 80 percent on these operational line items and win more loans. Sign up for this exclusive webinar taking place on March 21 at 2pm ET, featuring Rob Chrisman, James Duncan and Donielle Geiser (Lower), and Richard Grieser (Truv), where they’ll share their take on today’s market and how they’ve reduced costs on operational line items previously thought to be beyond a lender’s control. RSVP today!
Introducing the All-New Quarterly Conversations About QC Newsletter! Get the latest quality control news delivered directly to your inbox with QC Ally’s new email newsletter. Designed to be your trusted loan quality resource, you’ll get the latest industry headlines, helpful tools designed to inspire your business, and regulatory updates each quarter. Recent features include eGuides to strengthen your QC processes, webinars discussing how to successfully implement new requirements, and industry conference takeaways. Sign up today to stay in-the-know on updates designed to spark discussion and inspire your business!
TPO, Broker, and Correspondent Product News
Renovation lending fuels loan production, boosts profits, and fortifies housing inventory in competitive markets. Explore the rising demand for renovation loans with Planet Home Lending’s Guide to Renovation lending, tailored for correspondent lenders. From seizing opportunities to fostering robust partnerships, it offers a step-by-step roadmap. Request your exclusive copy today.
Freedom Mortgage Wholesale reminded brokers that it is historically, currently, and forever wholesale, and has posted some solid numbers about its status. In 2023 Wholesale increased its sales force by 20 percent, 25 percent of whom were rehires. Wholesale increased its Ops staff by 125 percent, 70 percent of whom were rehires. Freedom doubled its production two months in a row and is still growing.
But not to be overlooked is that Freedom is very active in the philanthropic arena through Freedom Cares. Last year it donated $660,000, used a holiday toy drive to raise $60,000 to support Children’s Hospital of Philadelphia (CHOP), The Salvation Army, and Toys for Tots, has, for 11 years, donated over $100,000 and nearly 2,000 backpacks (with school supplies) to Rucksacks to Packpacks. Freedom Mortgage’s employees and vendors raised $50,000, providing 500,000 meals for people facing hunger through Feeding America’s “Freedom from Hunger, and in 2023, through Project Gratitude, sent 1045 handwritten and video thank you messages to active-duty service members. And let’s not dismiss the 2,300 logged hours of employee volunteer engagement.
The real estate investment trust affiliated with Angel Oak Companies posted a $28.6 million profit in the fourth quarter. For the full year of 2023, the REIT generated a profit of $33.7 million; all but forgotten is 2022’s reported loss of $187.8 million. Angel Oak REIT participated in four non-qualified mortgage securitizations in 2023, contributing $662 million in unpaid principal balance to the issuance. The REIT’s earnings increased after it sold off non-QMs with relatively low interest rates. Its statistics reflect the industry’s: The REIT held $380 million in whole loans at the end of the fourth quarter, up from the $284 million held at the end of the third quarter. The company increased the weighted average coupon on its whole-loan portfolio to 6.78 percent as of the end of the fourth quarter compared with an average WAC of 5.83 percent at the end of the third quarter. As of the end of February, the WAC on the REIT’s portfolio had increased to 7.14 percent.
One should know the big news from Fannie Mae: Lenders now will be able to validate assets, income, and employment with a single 12-month asset report in Desktop Underwriter®. That same asset report will also identify the borrower’s positive rent payment history and cash flow history. This could be a boon for both lenders and homebuyers: Think faster cycle times, less paperwork, and enhanced access to credit, not to mention the ability for lenders to get Day 1 Certainty®, which can help improve loan quality and reduce the risk of repurchase. “Fannie Mae is continually focused on modernizing the mortgage finance experience and exploring new ways to help our lenders open more doors for aspiring homeowners in a responsible and sustainable way. With this new update in Desktop Underwriter, we are removing a hurdle from the loan application process and bringing greater speed, simplicity, and certainty to both lenders and borrowers,” said Cyndi Danko, Fannie Mae’s SVP and Single-Family Chief Credit Officer. The enhancement goes into effect in DU on March 29. Reach out to your Fannie Mae representative for help getting started.
Capital Markets
Interested in learning more about moving from best efforts to mandatory loan sales? Maybe you’ve already moved to mandatory and are looking for even more pickup and ways to mitigate risk? Join MCT’s Moving to Mandatory Loan Sales webinar on April 4th at 11am PT to learn how mandatory loan sales is helping lenders improve profitability while reducing risk. In this webinar, MCT’s Scott Holtz, Vice President of South Regional Sales, will discuss how to leverage mandatory loan sales to improve profitability, manage risk with pipeline hedging, and operational changes needed for the transition. Register for the webinar or join MCT’s newsletter to receive the latest educational content.
Between Fed Chair Powell testifying before the House Financial Services Committee and the latest Beige Book, there was a lot of Fed news for investors to digest yesterday. A slew of stronger-than-expected economic data has raised concerns that the FOMC is preparing to walk back its anticipated 75 basis points of easing in 2024, and the Fed Chair told the House panel that he’s in no rush to lower rates, though doing so will probably be appropriate “at some point this year.” He repeatedly stated that he does not see a risk of recession right now. Powell will be back on Capitol Hill today to appear before the Senate Banking Committee, though the potential for market-moving remarks is low.
The Fed’s Beige Book for March described overall economic activity since the last report as having “expanded at a modest pace since earlier in the year.” Consumers showed more sensitivity to rising prices and spending softened in recent weeks as businesses found it harder to pass through higher costs to their customers. Leisure and hospitality sectors varied from District to District, the Fed said in its survey of regional business contacts. Manufacturing activity was little changed while residential real estate demand improved. Employment rose at a slight to modest pace while price pressures persisted. If the economy evolves broadly as expected, the Fed is likely to begin dialing back policy interest rates 25 basis points between three and four times this year.
Ahead of February payrolls this Friday, we received a couple of labor market indicators yesterday. Job openings fell slightly in January to 8.86 million, and the number of job openings per unemployed worker was little changed at 1.45. The ADP Employment Change report pointed to the addition of 140k payrolls in February, slightly less than 150k expectations, while the January increase was revised up to 111k from 107k. The JOLTS data signal that the jobs market is slowly settling down, consistent with wage inflation pressures cooling and without a troubling slowdown in net job creation and overall economic activity. The gradual softening in the labor market will likely keep the FOMC comfortable in waiting a little while longer before beginning to cut rates.
Today’s economic calendar kicked off with Challenger job cuts for February: U.S.-based employers announced 84,638 cuts in February, up 3 percent from last month and 9 percent higher than the 77,770 cuts announced in the same month in 2023. Markets have also received the latest European Central Bank decision and remarks from ECB head Lagarde in her press conference, the latest jobless claims (217k last week, unchanged from 217k), trade deficit (high at $67.4 billion, a subtraction from growth), and productivity and unit labor costs (3.2 and .4 percent respectively). Chair Powell will be back on Capitol Hill before the Senate Banking Committee to testify on the Monetary Policy Report later this morning, and other releases of note include Treasury releasing the details of the mini-Refunding consisting of $56 billion 3-years, $39 billion reopened 10-years, and $22 billion reopened 30-years, remarks from Cleveland Fed’s Mester, Freddie Mac’s Primary Mortgage Market Survey, and January consumer credit. After the initial salvo of news, we begin Thursday with Agency MBS prices better .125-.250, the 10-year yielding 4.07 after closing yesterday at 4.10 percent, and the 2-year at 4.53.
Employment and Transitions
Unlock success with PrimeLending’s East Meets West Podcast! Join EVPs Karen Blakeslee and Al Velasco, the production leaders from the Eastern and Western divisions, for a lively discussion about the pulse of the housing market. Discover how PrimeLending empowers our loan officers to compete and win. Karen and Al also discuss leveraging new products to create more opportunities. Tune in for exclusive access to the wisdom of Dallas-based Branch Manager and perennial top producer, Mark Raskin (NMLS# 176513). Mark shares invaluable insights and proven tips, providing a backstage pass to success in today’s market. Check out East Meets West to learn why PrimeLending loan officers rank our engaged, experienced leadership as a game-changer. If you’re a top producer ready to turn up the volume on your career, contact Nic Hartke today!
Landmark Bancorp, Inc. announced that it has appointed Abigail (Abby) Wendel to serve as president and chief executive officer of the Company and Landmark National Bank, its wholly owned bank subsidiary, effective March 29. Wendel also will join the respective boards of directors of the company and bank, and succeeds current President and CEO, Michael Scheopner, who will serve in a non-executive role until his retirement at the end of the year. Congratulations!
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Today’s big to-do was the ISM Non-Manufacturing data at 10am ET. Of the two ISM reports, this is typically the bigger market mover, but that wasn’t the case this time around. One potential reason for that is the fact that markets had already gone on a fairly good run even before the data was released. Rationale is multifaceted and debatable for that initial rally. It includes things like European econ data, risk-off trading surrounding NYCB issues, and corrective momentum in equities. To be sure, ISM packed the biggest punch among TODAY’s events, both in terms of volume and bond market momentum, even though it only accounted for about a quarter of the overall movement. Still… it’s a strong showing considering bonds are making gains when yields are already at 3 week lows.
ISM Non Manufacturing
52.6 vs 53.0 f’cast, 53.4 prev
ISM Prices Paid
58.6 vs 64.0 prev
ISM employment
48.0 vs 50.5 prev
09:36 AM
Slightly stronger overnight with additional buying at the open. 10yr down 6.3bps at 4.154 and MBS up 7 ticks (.23)
10:39 AM
Stronger after ISM data, but at a tempered pace. MBS up 9 ticks (.28) and 10yr down 7.4bps at 4.143
02:30 PM
Sideways to slightly weaker into mid-day, but back near the highs now. MBS up 11 ticks (.34) and 10yr down 8.2bps at 4.135
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Lawyers are highly educated and command high salaries to match. How much a lawyer earns a year depends on what type of law they practice, what school they attended, as well as their competence and experience.
According to the U.S. Bureau of Labor Statistics (BLS), the average salary for a lawyer in May 2022 (the latest data available) was $135,740 per year, or $65.26 per hour.
Corporate lawyers who work in the private sector tend to earn more than those in the public sector (such as district attorneys or public defenders), and sole practitioners typically earn less money than lawyers at large firms.
Read on to learn more about how much a lawyer makes, where you can find top-paying jobs for lawyers, and the benefits and drawbacks of becoming a lawyer.
What Does a Lawyer Do?
Lawyers advise and represent clients on legal proceedings or transactions. They typically conduct in-depth research into law, regulations, and past rulings. They also prepare legal documents, including lawsuits, wills, and contracts.
Not an ideal job for people with social anxiety, lawyers will often appear in court in support of their clients and present evidence in hearings and trials, including arbitration and plea bargaining. Lawyers also counsel their clients in legal matters and suggest courses of action.
A lawyer’s exact duties will vary depending on the type of law they practice. For example, criminal defense attorneys advocate on behalf of those accused of criminal activity; family lawyers handle family-related legal issues like divorce, adoption, and child welfare; and corporate lawyers handle legal matters for businesses. Some lawyers work for the government or in the public’s interest, and are known as public interest lawyers. Public defense attorneys, for example, represent criminal defendants who cannot afford to hire a private attorney. Public interest lawyers also work for nonprofit organizations to support civil rights and social justice causes.
Other types of lawyers include:
• Environmental lawyers
• Bankruptcy lawyers
• Immigration lawyers
• Intellectual property lawyers
• Entertainment lawyers
• Tax lawyers
• Personal injury lawyers
• Estate planning lawyers 💡 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.
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Track your credit score for free. Sign up and get $10.*
How Much Do Starting Lawyers Make a Year?
Lawyers tend to be well paid even at the entry level because they are highly educated. And, the more experience a lawyer gains, generally the more they will earn. According to ZipRecruiter, entry-level lawyers make $100,626 a year, on average, with a range from $47,000 to $138,000.
Those who choose to invest the time, money, and work into becoming a lawyer can feel relatively confident about being able to get a job when they graduate: The BLS projects an increase of 62,400 attorney jobs between 2022 and 2032, representing an 8% growth (which is faster than the average for other occupations).
Recommended: What Trade Job Makes the Most Money?
How Much Money Does a Lawyer Make a Year on Average?
According to the BLS’s most recent data, the average salary for a lawyer in 2022 was $135,740. The best-paid 25% made $208,980 that year, while the lowest-paid 25% made $94,440.
A lawyer working for a law firm or as in-house counsel will typically be paid with an annual salary versus an hourly wage, but the average hourly pay for a lawyer works out to be $65.26 an hour.
How much a lawyer makes, however, can vary widely depending on their experience, specialty, and location.
The highest paying legal specialties include:
• Patent attorney
• Intellectual property attorney
• Trial lawyer
• Tax attorney
• Corporate lawyer
The cities that pay the highest lawyer salaries are:
• San Jose, California ($267,840)
• San Francisco, California ($239,330)
• Washington, District of Columbia ($211,850)
• Bridgeport, Connecticut ($209,770)
• Oxnard, California ($207,970)
Recommended: 11 Work-From-Home Jobs Great for Retirees
How Much Money Does a Lawyer Make by State?
As mentioned above, how much money a lawyer makes can vary by location. What follows is a breakdown of how much a lawyer makes per year, on average, by state.
State
Average Annual Lawyer Salary
Alabama
$138,250
Alaska
$120,590
Arizona
$144,890
Arkansas
$116,730
California
$201,530
Colorado
$168,680
Connecticut
$174,520
Delaware
N/A
District of Columbia
$226,510
Florida
$135,840
Georgia
$165,560
Hawaii
$106,520
Idaho
$96,810
Illinois
$158,030
Indiana
$143,060
Iowa
$117,500
Kansas
$115,860
Kentucky
$99,840
Louisiana
$127,150
Maine
$102,060
Maryland
$158,150
Massachusetts
$196,230
Michigan
$127,030
Minnesota
$163,480
Mississippi
$101,240
Missouri
$138,680
Montana
$98,170
Nebraska
$119,310
New Hampshire
$130,130
New Jersey
$163,690
New Mexico
$110,970
New York
$188,900
North Carolina
$146,890
North Dakota
$120,780
Ohio
$130,320
Oklahoma
$114,470
Oregon
$144,610
Pennsylvania
$144,570
Rhode Island
$156,300
South Carolina
$115,230
South Dakota
$109,190
Tennessee
$149,050
Texas
$166,620
Utah
$133,920
Vermont
$101,610
Virginia
$162,640
Washington
$162,200
West Virginia
$122,070
Wisconsin
$147,530
Wyoming
$88,570
Source: U.S. Bureau of Labor Statistics
Lawyer Job Considerations for Pay & Benefits
To get a job as a lawyer, you must complete a four-year undergraduate degree and then attend law school to earn a juris Doctor degree, or J.D. This can mean four years pursuing a bachelor’s degree, followed by three years of law school (or four years if you go to law school part time).
After graduating from law school, you’ll need to pass the multi-day bar exam for the state in which you want to practice. In addition, most states also require lawyers to keep up to date with law and take training courses throughout their career.
The hard work and financial investment can pay off, however. In addition to competitive pay, lawyers who work full time for a specific company or organization typically get a wide variety of benefits, including health insurance, retirement plans, paid time off, flexible scheduling, and more. They may also get bonuses for cases won, costs of bar association fees covered, and training and development opportunities. 💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.
Pros and Cons of a Lawyer’s Salary
Becoming a lawyer can be a clear path to making more than $100,000 but, as with any profession, working as a lawyer comes with both benefits and drawbacks. Understanding the pros and cons of this role will help you determine if you’re well-suited for this career path.
Pros of Becoming a Lawyer
• Multiple job opportunities: As a lawyer, you have a variety of career paths, giving you the opportunity to work in an area you feel passionate about, whether that is corporate law, family law, real estate law, criminal law, or immigration law.
• Option to start your own practice: With a law degree and significant experience, you may be able to start your own business and determine the types of clients you want to represent and how many cases you want to take on at any one given time.
• Earn a high salary: Lawyers have the potential to earn well over six figures a year. Though you may not earn this salary right out of the gate, there is ample opportunity for career advancement and salary increases over time.
• Stimulating and challenging work: As a lawyer, your daily duties will likely be intellectually challenging. Lawyers typically need to understand complex legal theories, form a hypothesis and create a legal strategy to benefit their clients, and argue and debate in a courtroom.
Cons of Becoming a Lawyer
• Work can be stressful: Lawyers must meet deadlines as well as the demands of their clients. You may also come across stressful and emotionally difficult cases, which can take a psychological toll.
• Long hours: This professional is notorious for its long hours, particular for those who are just starting out in a prestigious law practice. It’s not unusual for an associate lawyer to put in 60 to 90 hours a week each week, depending on the demands of the case they’re working on.
• High level of student debt: In addition to a bachelor’s degree, lawyers need to pay for law school, which often comes with a high price tag. Generally, the more prestigious the school, the higher the price. Even with a high salary, new lawyers may not be able to pay off their debt for many years.
• Today’s clients have more options: The opportunity to get clients has gotten more competitive with the rise of self-help legal websites, legal document technicians, and virtual law offices. If a client seeks legal advice or counsel, they don’t always have to go to a lawyer for help.
The Takeaway
A law degree is a valuable credential that takes around seven years of study to achieve (including a bachelor’s degree). Lawyers can choose where they want to work and what type of law they would like to specialize in, whether it be criminal law, corporate law, environmental law, or immigration law.
The amount a lawyer makes will vary depending on the school they attended, experience, type of law they practice, and where in the country they practice. According to the BLS, the highest paid lawyers earn over $230,000, and the lowest paid lawyers earn around $66,500.
Whatever type of job you pursue, you’ll want to make sure your earnings can cover your everyday living expenses. To help ensure your monthly outflows don’t exceed your monthly inflows, you may want to set up a basic budget and check out financial tools that can help track your income and spending.
With SoFi, you can keep tabs on how your money comes and goes.
FAQ
Can you make $100k a year as a lawyer?
Yes. Most lawyers earn over $100k a year. The average salary for a lawyer, according to the U.S. Bureau of Labor Statistics, is $135,740 per year. The best-paid lawyers, however, can earn more than $200,000 a year.
Do people like being a lawyer?
Being a lawyer can be a great career choice if you enjoy working in a fast-paced and challenging environment and have an interest in upholding laws and defending an individual’s rights. According to a recent survey by Law360 Pulse, 83% of surveyed attorneys report they are stressed at least some of the time, nonetheless 68% percent say they are satisfied or very satisfied with their overall job.
Is it hard to get hired as a lawyer?
It’s generally not hard to find a job as a lawyer after you pass the bar exam, especially if you attended a top-rated law school, graduated in the top third of your class, and/or had strong internships and clerkships. Jobs for lawyers are expected to grow 8% between 2022 and 2032, which is faster than the average for other occupations (3%).
Photo credit: iStock/shapecharge
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Do you have unwanted gift cards? Here are 7 ways to sell gift cards online instantly for cash and make extra money. Approximately $3 billion in gift cards go unused in the U.S. every year. If you’re one of those people who have gift cards and don’t plan to use them, consider selling the gift…
Do you have unwanted gift cards? Here are 7 ways to sell gift cards online instantly for cash and make extra money.
Approximately $3 billion in gift cards go unused in the U.S. every year. If you’re one of those people who have gift cards and don’t plan to use them, consider selling the gift card for cash.
There are many reasons gift cards go unused, including you don’t shop at the retailer, you need money to pay the bills, or you simply rather have cash instead of a gift card. This can be an easy way to get free money now.
The most popular gift cards people buy come from retailers like Target, Starbucks, Amazon, Best Buy, Visa, and Walmart. You’ll generally receive about 90% of the total gift card amount if you decide to sell the gift card, so keep that in mind.
Best Ways To Sell Gift Cards
Today, I’m going over the best places to sell gift cards.
1. Raise
Raise is a gift card site that lets you buy or sell used gift cards.
To sell a gift card on Raise, you need to:
Go to the “Sell” link at the top of the Raise home page.
Enter the store name of the gift card.
Enter the gift card information such as serial number, PIN, current balance, and your selling price.
Payout options: pay by check, PayPal, or ACH direct deposit. Anytime you sell a used gift card on Raise, Raise takes a 15% cut from the selling price.
2. CardCash
CardCash is a platform that buys used gift cards.
To sell your gift card to CardCash, do the following:
Enter the store name of the gift card you have.
Enter the amount on the gift card.
CardCash will offer you an amount to buy the card.
For example, I pretended I had a Target gift card to sell with a $50 balance. CardCash offered me $39.50 cash or $40.09 for a prepaid Mastercard. Seeing their instant offer with their quote tool was quick and easy!
Then I have the option to get paid either by mailed check, ACH direct deposit, or PayPal.
3. CardSell
CardSell is an app that helps you trade unwanted gift cards for cash. The mobile app works for both iOS and Android users.
To get started, download the app and enter your gift card number and PIN. CardSell will verify your card and check the balance. Once verified, CardSell will pay you within 48 hours via PayPal.
4. ClipKard
ClipKard is another popular website that buys used gift cards. The process is similar to other gift card websites.
To get started here’s what to do:
Enter the info for the gift card store and the amount on the gift card.
Receive an offer from ClipKard for your gift card.
You’ll need to ship your gift card via USPS to ClipKard.
Once the gift card is accepted, you’ll get paid either via PayPal or you can choose to have a check sent to your address.
You can also earn rewards on ClipKard for doing things like buying and selling gift cards. Reward points can be used to give you discounts on future purchases on the website.
5. Gameflip
Gameflip is a website for gamers that helps you sell unused gift cards from places like Steam, PSN, Xbox, iTunes, Google Play, and more.
To sell a gift card on Gameflip, you need to create an account and click “Start Selling”. This is where you can list your gift card in the marketplace. Once someone buys your gift card, you’ll be notified.
When the transaction goes through, the sale proceeds are immediately deposited into your Wallet. You can then withdraw the cash into your bank account, Skrill, Bitcoin, or crypto account, and more.
Recommended reading: 12 Best Places To Sell Video Games
6. GiftCash
GiftCash is a platform that buys gift cards. Selling a gift card on GiftCash is easy.
All you have to do is enter the brand’s name of the gift card into GiftCash, enter the gift card balance, and GiftCash will tell you the total payout offer instantly.
Then, you can accept payment from options like ACH direct deposit or Cryptocurrency.
7. Check Into Cash
If you rather go in person to sell your used gift card, find a local Check Into Cash store near you. There are over 300 locations in the U.S., which makes it easy to get cash immediately for your gift cards.
Bring any gift cards you haven’t used into your local Check Into Cash store and they will exchange the gift cards for cash.
Frequently Asked Questions
Below are answers to common questions about how to sell gift cards.
Why do people buy used gift cards?
People buy used gift cards because it’s a way to save money. For example, someone can buy a gift card that has a $50 balance on it and only pays $40 for the gift card (depending on the site they are buying it from). This allows people to get the same value of goods or services at a discounted rate.
What’s the best site to sell gift cards?
The best site to sell gift cards depends on what kind of gift card you’re selling. If you’re selling a gift card to a place like Target or Starbucks, Raise and CardCash are great spots to sell gift cards. They make the process easy and convenient to sell unused gift cards and get the most money for your gift card.
If you’re selling a gaming-related gift card, Gameflip is the best website to sell your used gift card.
Recommended reading: 16 Best Selling Apps For Selling Stuff Online And Locally
Does Gift Card Granny buy gift cards?
Gift Card Granny no longer buys gift cards from people. The website is a gift card marketplace and cash back website. For example, you can build and customize a gift card and send it to people, but you can’t buy discounted cards.
Gift Card Granny does have a “discounted” gift card section, but it is really just a cash back section that gives you a bonus for getting a certain gift card. For example, if I buy a Subway gift card, I may be able to get $2.50 in cash back, but I have to buy a $250 gift card to even receive that amount.
How can I sell gift cards for cash immediately? Can I sell gift cards online instantly?
You can sell gift cards online instantly and the best website to get paid immediately for your gift cards is CardCash. CardCash pays up to 92% of the gift card value and pays out within 1-2 days of gift card approval. You may need to send in the gift card to CardCash, but typically the gift card can be transferred by entering the gift card number and pin to the website.
Where can I sell gift cards for PayPal cash?
Raise and CardCash buy gift cards and both payout via PayPal.
Can I sell my gift cards anywhere in person?
Check Into Cash is a brick-and-mortar with over 300 locations. To find a store near you, go to their website and find a local store. Bring in your gift card and get a free quote. Make sure to bring your government-issued ID so they can verify your identity and process payment. If your gift card is accepted, you’ll walk out with cash immediately and have no waiting period, unlike online gift card marketplaces.
You can also sell your gift cards locally, such as on Facebook Marketplace.
Can I sell my gift card on eBay?
Another great option for selling gift cards is via eBay. You can list all kinds of gift cards on the platform and even send the gift card info to the buyer via messenger, so there’s no need to ship anything. eBay does take a portion of the sale so you also need to keep that in mind.
What if I don’t want to sell my gift card and don’t want to use it either?
If you don’t want to go through the process of selling your gift card, you have several other options. You can regift the gift card or donate the gift card to a place in need like an animal shelter or local charity. Some retailers might even take gift card returns as long as the gift card isn’t used. However, you’ll need the original receipt to do that.
Best Places To Sell Gift Cards Online – Summary
The best places to sell your gift cards are Raise, CardCash, CardSell, ClipKard, GameFlip, GiftCash, and Check Into Cash. To get the most money for your gift card, check around multiple sites and get quotes for how much you can receive.
These gift card exchange sites buy gift cards because they resell them. People then buy these used gift cards because they are sold at a discount. For example, you may be able to buy a $100 gift card but only actually pay $90 for it.
Remember, you can sell both digital and physical gift cards! If you have a physical gift card, you may have to mail it in.
Some of the gift card exchange sites do have a minimum balance (such as $10) as well as a maximum value (such as $2,000) that they will accept.
Selling gift cards is easy and a great way to make extra cash. I recommend gathering the different unused gift cards you have lying around and checking the gift card balance to see how much extra money you can make.
Did you know that you can sell your old gift cards that you don’t want?
Nutritionists advise others on what to eat in order to lead a healthy lifestyle or achieve a specific health-related goal, such as losing weight or reducing blood pressure. Some nutritionists work directly with clients and patients in clinical settings, while others work in community settings like schools or health centers developing food plans and strategies for certain groups or demographics.
How much a nutritionist makes will depend on their qualifications, experience, and where they work, but the average nutritionist’s salary in the U.S. is $54,137 a year, according to ZipRecruiter.
Read on to learn more about how much a nutritionist can make a year and an hour, which cities and states pay the highest salaries, and other compensation and occupational benefits nutritionists enjoy.
What Are Nutritionists?
A nutritionist is an expert in using food to improve health and to prevent and manage disease. Nutritionists often advise people on what to eat to address a particular medical issue, such as hypertension, diabetes, or obesity. They may also be called upon to come up with a plan of action in situations where a treatment protocol, such as chemotherapy, impacts an individual’s overall diet or creates particular food sensitivities. Their exact role will depend on their specialization.
Being a nutritionist is not an ideal job for antisocial people, since you generally don’t work alone. Nutritionists can work in a variety of work settings, including:
• Hospitals and doctors’ offices
• Nursing homes
• Gyms and recreation centers
• Foodservice organizations
• Food and beverage companies
• Pharmaceutical companies
• Government organizations
While the terms “nutritionist” and “dietician” are often used interchangeably, there are some key distinctions between them. A registered dietitian (R.D.) is qualified to diagnose and treat certain medical conditions. Nutritionists, on the other hand, tend to focus on general nutritional aims and behaviors.
Dietitians also tend to have more education and credentials, though that’s not always the case. Depending on the state they practice in, a nutritionist may be required to have specific qualifications, certifications, or a license. However, in some states, there are no such mandates — meaning anyone can use the title if they want to.
While every dietitian can be called a nutritionist, not every nutritionist is a dietitian.
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How Much Do Starting Nutritionists Make a Year?
While the average nutritionist’s salary is $54,137 a year, someone just starting out in the field may not be able to earn that figure as an entry-level salary. That said, a nutritionist coming into the profession with an advanced degree, such as a master’s or doctorate, and a license or other credentials, may be able to command a higher-than-average salary even when they are just starting out. 💡 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.
What is the Average Salary for a Nutritionist?
While salaries for a nutritionist can range anywhere from $32,500 to $90,000, the average annual pay for a nutritionist in the U.S. is $54,137 a year, according to February 2024 data from ZipRecruiter.
Nutritionist’s typically get paid an annual salary but some may make money by the hour, which can range from $15.62 to $43.27.
How much a nutritionist makes, however, can vary significantly by education, credentials, experience, industry, and location. Advanced education, such as a master’s or doctoral degree, can generally help you qualify for a higher-than-average nutritionist’s salary.
Certain metropolitan areas also pay more than others. The top paying cities for nutritionists include: Berkeley, CA,; Renton, WA; Newark, CA; Woburn, MA; and Santa Monica, CA.
Recommended: Is a $100,000 Salary Good?
The Average Nutritionist Salary by State for 2024
As mentioned above, how much money a nutritionist makes can vary by location. What follows is a breakdown of how much a dietician makes per year, on average, by state (listed from highest to lowest).
State
Average Annual Salary
Wisconsin
$83,731
Alaska
$81,044
Massachusetts
$80,824
Oregon
$80,772
New Mexico
$80,529
North Dakota
$80,527
Washington
$80,268
Minnesota
$79,381
Hawaii
$78,914
Ohio
$77,594
Colorado
$76,879
Nevada
$76,629
South Dakota
$76,107
New York
$75,623
Iowa
$74,908
Rhode Island
$74,814
Connecticut
$74,143
Tennessee
$74,087
Vermont
$73,710
Utah
$73,446
Mississippi
$72,808
Delaware
$72,604
Virginia
$71,688
Illinois
$71,072
Maryland
$70,347
New Jersey
$69,540
California
$69,458
Louisiana
$69,304
Pennsylvania
$69,281
Nebraska
$68,943
Kansas
$68,520
Missouri
$68,260
Maine
$67,953
South Carolina
$67,618
New Hampshire
$67,312
Oklahoma
$66,767
Idaho
$66,358
Wyoming
$66,356
North Carolina
$66,222
Texas
$65,834
Indiana
$65,561
Arizona
$64,205
Kentucky
$64,000
Michigan
$63,673
Montana
$63,238
Alabama
$62,448
Arkansas
$60,647
Georgia
$58,176
West Virginia
$53,507
Florida
$51,486
Source: ZipRecruiter
Nutritionist Job Considerations for Pay & Benefits
To get a job as a nutritionist or dietician, you may need:
• A bachelor’s degree, ideally in dietetics, nutrition, food service systems management, clinical nutrition, or a related area.
• Advanced degree (such as a master’s or doctoral degree)
• Supervised training through an internship
• A license (many, though not all, states require licenses for dietitians and nutritionists to practice)
• Certification (many dietitians earn the Registered Dietitian Nutritionist credential, which requires a bachelor’s degree and completed a dietetic internship program).
Nutritionists who work on staff typically receive not only competitive pay but also a suite of benefits, which may include:
• 401(k)
• Dental insurance
• Disability insurance
• Employee assistance program
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Retirement plan
• Vision insurance 💡 Quick Tip: Income, expenses, and life circumstances can change. Consider reviewing your budget a few times a year and making any adjustments if needed.
Pros and Cons of Becoming a Nutritionist?
As with any profession, becoming a nutritionist comes with both advantages and disadvantages. Here’s a closer look at the job’s pros and cons.
Pros of Becoming a Nutritionist
• Opportunity to help people: Nutritionists help people by guiding them in their food choices and assisting them in reaching their health and nutritional goals, which can be highly rewarding.
• Varied tasks and responsibilities: A nutritionist can enjoy meeting a variety of people in different contexts. No client or situation will be the same, and each will bring new challenges.
• Can work in a variety of settings: Nutritionists can choose where they want to work, such as a hospital, nursing home, school, or gym. With extensive experience, a registered dietitian might open a private consulting practice and offer specialized services to their patients.
• Strong job outlook: The U.S. Bureau of Labor Statistics predicts the employment of dietitians and nutritionists to grow 7% between 2022 and 2030, which is faster than the average for all occupations.
Cons of Becoming a Nutritionist?
• May need an advanced degree and certification: Depending on where you want to work, you may need to obtain a master’s and/or certain certifications (on top of a bachelor’s degree).
• Can be emotionally draining: Though generally a low-stress job, nutritionists may need to have frequent interactions with seriously ill patients, which can be emotionally challenging.
• You constantly have to stay up to date: Nutrition is an evolving science, which means you’ll need to stay current on the latest nutritional guidelines, regulations, and research, and adjust your practice based on new developments.
• Competition for top-paying jobs: While the job outlook is strong for nutritionists, jobs with competitive pay may receive a lot of applicants. Obtaining more than the minimum education and training required by the state, however, can set you apart from other job competitors.
Recommended: How Much Does a Nurse Make a Year?
The Takeaway
Working as a nutritionist can be a rewarding career for people who want to help others improve their health and lifestyle. Nutritionists can choose where they want to work and who they want to work with. A nutritionist’s salary can range from $32,500 to $90,000 or more depending on their certification, experience, and employer.
Whatever type of job you pursue, you’ll want to make sure your earnings can cover your everyday living expenses. To help ensure your monthly outflows don’t exceed your monthly inflows, you may want to set up a basic budget and check out financial tools that can help track your income and spending.
SoFi helps you stay on top of your finances.
FAQ
Can you make $100k a year as a nutritionist?
Earning $100K as a nutritionist is possible but isn’t typical. Nutritionist salaries range anywhere from $32,500 to $90,000 a year, according to ZipRecruiter. That said, getting an advanced degree and extra certifications and/or starting your own private practice could lead to a six figure income.
Do people like being a nutritionist?
People who want to help others and who have an interest in the science of food will enjoy being a nutritionist. There are plenty of opportunities for nutritionists in a variety of contexts.
Is it hard to get hired as a nutritionist?
Nutritionists and dieticians are currently in demand and job opportunities are expected to grow 7% between 2022 and 2030, which is faster than the average for all occupations, according to the U.S. Bureau of Labor Statistics.
Photo credit: iStock/Candle Photo
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The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. For this reason, I will provide a short monthly educational focus, followed by a summary of the HECM rate market.
Keep in mind that almost all HECMs are adjustable-rate mortgages (ARMs), and so each rate update will concentrate on ARMs.
With a HECM loan, the U.S. Department of Housing and Urban Development (HUD) determines how much principal a lender can provide a borrower. This “principal limit” calculation is based on factors like home value, age, and of course, interest rates.
Why are there two HECM interest rates used with HECM loans?
EXPECTED RATES
When calculating principal limits, HUD requires lenders to use long-term forecasted rates (tied to the 10-year Constant Maturity Treasury [CMT] rate). These are called “expected rates.”
Purpose:Primarily used to calculate initial HECM principal limits
Calculation:Margin + weekly average10-year CMT
Timing:Previous week’s average generally becomes effective Tuesday
When expected rates are higher at origination, borrowers qualify for less principal at closing. Conversely, when expected rates are lower at origination, borrowers are offered more principal.
NOTE RATES
For calculating accrued interest and the growth of the principal limit after closing, HUD requires lenders to use short-term rates (generally tied to the 1-year CMT). These rates are called “note rates” or interest rates.
Purpose:Primarily used to calculate interest accruals and principal limit growth
Calculation:Margin + weekly average1-year CMT
Timing:Lender must use the average in effect 25 days prior to a rate change
When note rates rise after closing, borrowers have faster interest accrual and faster principal limit growth. Conversely, when note rates fall, borrowers have slower interest accrual and slower principal limit growth.
Ultimately, HUD requires us to use two rates because it is risky for the Federal Housing Administration (FHA, the insurer) to use short-term rates to calculate long-term borrowing capacity.
Imagine an extreme example where the 1-year CMT is 1% and the 10-year CMT is 6%. FHA would be nervous about providing high principal limits to borrowers with the assumption that current short-term rates will always remain at 1%.
March 2024 update
Early in February, we saw a lower weekly average 10-year CMT (4.01%). The rate in effect for March 5 is 25 basis points higher (4.26%). This has caused HECM principal limits to drop for new applications. The 1-year CMT also followed this upward trend as shown here:
As an example, a 2.50% lender margin combined with a 4.26% 10-year CMT index would produce a HECM expected rate of 6.76%. Using this expected rate, a 73-year-old homeowner with a home that appraises for $500,000 would qualify for a principal limit of $196,000 as shown here:
For updated principal limit calculations like this, a loan originator can use a mobile app like RapidReverse or use any HECM loan origination system of their choice.
Note: 2.5% lender margins are used for education purposes only. Expected rates are rounded to the nearest 1/8% for calculating HECM principal limits. For calculating principal limits, 6.76% rounds to 6.75%.
This column does not necessarily reflect the opinion of Reverse Mortgage Daily and its owners.
To contact the author of this story: Dan Hultquist at [email protected]
To contact the editor responsible for this story: Chris Clow at [email protected]
Inside: Discover the secrets to earning $200k a year. Learn to choose industries, negotiate salaries, and balance life with high-income careers.
Achieving a $200,000 annual income is a financial milestone that many aspire to reach, but not everyone knows how to realistically attain.
Whether you’re starting from scratch or looking to elevate your current earnings, the blueprint to a $200K income is within your grasp. It all begins with a strategic approach that leverages both a steady job and an entrepreneurial spirit.
Achieving a $200k salary is not just about luxury—it’s about stability and security. With rising living costs, including student loans, mortgages, and everyday expenses, earning a high income is increasingly vital to maintaining a comfortable lifestyle.
By combining the stability of a well-paying career with the dynamism of a side hustle, you can fast-track your way to this lofty goal.
In this comprehensive guide, we dive deep into a method that suits everyone to make $200000 this year.
You’ll learn how to harness your passions, manage your time and expenses, and create a foolproof plan that caters to your strengths and circumstances.
How to Make 200k a Year
Achieving this level of annual income is a significant financial goal that necessitates a well-devised strategy combining steady employment with entrepreneurial endeavors.
This is possible for anyone to do. You have been making 10k a month for a while now and want to make the leap.
You just must be steadfast in pursuing your goals.
#1 – Identify high-income skills and industries
The first step toward making $200k a year is to recognize the skills and industries that command such salaries. Technology and finance are prime examples where hard work and expertise can lead to impressive earnings right out of college.
Specialized skills in software development, cybersecurity, data analysis, and AI are highly sought after. Additionally, roles in investment banking, private equity, and hedge funds are lucrative but come with intense competition and long hours.
Identifying these prospects involves understanding market needs, so be prepared to continually adapt to the latest industry trends. I cannot stress how important these high income skills are for your income.
Top Skills: Software Development, Cybersecurity, Data Analysis, Artificial Intelligence, Financial Analysis
Top Industries: Tech, Finance, Consulting, Healthcare, Legal
#2 – Degrees and Courses That Could Lead to 200K Jobs
If you’re seeking a high-paying career, focusing your education in specific areas is crucial. Advanced degrees, such as a doctoral degree in medicine, law, business administration (MBA), or specialized engineering can pave the way to high-paying roles.
For those with a penchant for academia, pursuing specialized courses that lead to becoming a medical lawyer, dentist, neurologist, psychiatrist, or gynecologist can be extremely rewarding. However, keep in mind that these paths generally require significant time and financial investment in education before reaping the financial rewards.
However, there are plenty of low-stress jobs that pay well without a degree.
Recommended Degrees: Medicine, Law, Engineering, Business Administration (MBA)
Embarking on entrepreneurship is a thrilling yet challenging path to reach unlimited annual income.
To start a business that prospers, it’s essential to identify a market need and create a clear business plan. Whether you’re selling a physical product, offering a service, or thriving in the digital market through online marketing, e-commerce, or app development, dedication, and strategic growth are paramount.
Investing both time and capital wisely, and adapting to market feedback can help you scale your business to meet and exceed your financial goals.
Investment Tip: Consider start-up costs carefully, and plan for lean operation.
Growth Strategy: Focus on customer satisfaction, scaling smartly, and marketing effectively.
#4 – Advance in your current career
Climbing the corporate ladder within your existing professional environment is a viable route to a higher salary.
To do this, focus on excelling in your current role, continuously improve your skills, and demonstrate the value you add to the company. Seek out leadership roles, ask for challenging projects, and take on responsibilities that align with the company’s revenue-generating activities.
Remember, promotions often come with significant pay raises, and it’s essential to communicate your career goals with your employer to align your trajectory with the available opportunities. Just watch the number of working hours you put in.
Key Strategies: Exceed performance expectations, take initiative, and pursue leadership roles.
Professional Development: Continued education, certifications, and networking are critical for advancement.
#5 – Invest in real estate for passive income
Real estate investment remains a cornerstone strategy for building wealth.
Focusing on location is key; properties in high-demand markets can yield substantial returns through rental income and appreciation. Paying with cash rather than financing can lead to better deals and avoid interest payments, as debt can eat into profits.
Moreover, platforms like Fundrise allow investors to start with as little as $10, which could be a smart move if you’re seeking a hands-off investment with a diverse real estate portfolio.
Investment Insight: Cash purchases may provide better deals, reducing financial risk.
Real Estate Tip: Choose high-demand locations for better rental income and property appreciation.
#6 – Maximize income through stocks or other investments
Investing in the stock market through individual stocks, mutual funds, or exchange-traded funds (ETFs) is another way to potentially earn $200k a year. Dividends from some of these investments can also serve as a consistent income stream.
Consider focusing on industries poised for growth or stable dividend-paying stocks, as these can offer a balance between growth potential and income reliability.
Additionally, alternative investments such as cryptocurrencies or option contracts can offer high returns, but come with high volatility. Always conduct thorough research or consult with a financial advisor before making significant investment decisions.
Learn how to invest in stocks for beginners.
Investment Strategy: Diversify your portfolio, focus on growth sectors, and consider enhancing your investment knowledge.
Cautionary Note: Be aware of market risks and do not invest more than you can afford to lose.
#7 – Gain Relevant Experience in High-Demand Fields
To command a $200k paycheck, it’s essential to gain experience in fields where the demand for your skills exceeds the supply.
Industries such as technology, healthcare, and specialized consulting are in constant need of experienced professionals. Work on projects that showcase your expertise and build a robust professional portfolio.
You can also consider a side hustle like freelancing or consulting to gain a broad range of experiences that can make you an attractive candidate for high-level positions.
Experience Building: Take on varied projects, freelance, or consult in your niche.
Portfolio Enhancement: Document your successes and gather testimonials or recommendations.
#8 – Continuous Learning and Adaptability to Stay Ahead
In the dynamic job market, staying complacent can mean getting left behind. Cultivating a habit of lifelong learning and adaptability is crucial. Did you know you are an appreciating asset?
This may involve updating your skill set to keep pace with technological advancements, attaining new certifications, or attending industry conferences and workshops. Remember that cross-skills, like project management or business analytics, are also valuable and can complement your primary expertise.
Embrace change and be willing to pivot when necessary to maintain your competitive edge and earning potential.
Professional Development: Seek out further education and certifications.
Adaptability: Stay open to industry shifts and be ready to pivot your skills accordingly.
Careers That Make 200K a Year is Common
In certain careers, a $200K annual salary is not an exception but rather a common expectation.
Positions in healthcare such as surgeons, specialists, and anesthesiologists often offer salaries exceeding this amount. Moreover, top-level executives, experienced lawyers, and investment bankers are typically in the higher income bracket due to the high stakes and demands of their industry. In tech, senior software engineers and IT executives with strong track records in hot markets like Silicon Valley can command these salaries, too.
Success in these careers requires a combination of advanced education, considerable experience, and sometimes, the right location.
Within these industries, focus on roles that are crucial to core operations, innovation, or revenue generation.
For tech, this might involve AI, machine learning, and cybersecurity. In finance, investment strategists and financial advisors are in demand. In healthcare, specialized practitioners command higher salaries whereas, in the legal field, corporate lawyers and litigators typically earn more.
Just to note… taxes will take a substantial amount out of your paycheck. So, you want to aim for $200k as net income.
Factor #2 – Climbing the Ladder: From Mid-Level to Top-Tier Positions
Transitioning from a mid-level position to top-tier status demands a proactive career strategy. Aim for roles that impact the company’s bottom line, such as project management or strategic planning, which often lead to executive positions.
Make sure to seek mentors who can offer guidance, and build a reputation for reliability and innovation. Networking within your industry can uncover hidden opportunities and give you a competitive edge.
Strategic Positioning: Focus on profit-impacting roles and responsibilities.
Career Growth: Network, seek mentorship, and demonstrate leadership capabilities.
Always aim to bring value to your organization, as this will be your leverage when seeking promotions and negotiating salary increments.
Factor #3 – Negotiation Tactics for a High Paying Salary
Securing a salary of $200k often hinges on your ability to negotiate effectively.
Begin the negotiation process by researching the standard salary for your position in your industry and region. Articulate your value by enumerating your accomplishments, experiences, and the results you can deliver.
Prioritize non-salary benefits that may be equivalent to a higher income, such as bonuses, commission, stock options, or flexible work arrangements. When discussing figures, aim higher to give room for negotiation.
Research: Know industry salary benchmarks.
Value Proposition: Clearly communicate your potential contribution.
Remember, negotiation is a dialogue, so listen carefully, be respectful, and maintain a professional demeanor throughout the process.
Factor #4 – Building Professional Relationships That Open Opportunities
Fostering robust professional relationships is key to unlocking high-paying roles, as connections can lead to opportunities that aren’t publicly advertised.
Networking is an art. It goes beyond just asking the question, “What do you do for a living?“
Actively engage with peers at industry events, be genuinely interested in others, and offer help before you ask for it. Maintain a positive online presence on platforms like LinkedIn, where you can connect with like-minded professionals and hiring managers.
Networking: Engage in industry events and platforms like LinkedIn.
Relationship Management: Nurture connections and seek meaningful interactions.
Don’t forget to nurture existing relationships – a recommendation from a trusted colleague can provide a significant edge in landing a coveted position.
Factor #5 – Cities and Regions with the Best High-Paying Job Markets
If you’re eyeing a lucrative salary, it’s strategic to consider the geographic landscape of high-paying jobs.
Major economic hubs like New York City, San Francisco, and Boston have dense concentrations of Fortune 500 companies and start-ups that offer competitive salaries, especially in finance and tech. However, these cities come with higher costs of living.
Comparatively, cities like Austin, Seattle, and Denver have burgeoning tech and business sectors with a more balanced cost of living.
Economic Hubs: New York City, San Francisco, Boston.
Balance Seekers: Austin, Seattle, Denver.
Consider looking for cities that have a vibrant job market in your industry, but a reasonable cost of living to maximize your income-to-expense ratio.
Factor #6 – Remote Work: A Gateway Being Global
The rise of remote work has opened a world of possibilities for professionals seeking higher salaries. You can work in a low cost of living country and still get a good income and save the rest.
With remote positions, you’re not limited by location and can work for companies with higher pay scales in stronger economies, practicing geographic arbitrage to your advantage. Sectors like tech, marketing, and design are ripe with remote opportunities that pay well.
Geographic Arbitrage: Tap into stronger economies and work remotely.
Global Accessibility: Utilize online platforms to access high-income roles worldwide.
To capitalize on this, enhance your digital presence, showcase your skills online, and engage with global job platforms. Also, consider the time zones and cultural work patterns of employers to ensure a smooth collaboration.
FAQs About Securing a 200K Job
A salary of $200k is relatively rare, with only a small percentage of U.S. households earning at this level.
According to recent statistics, 11.9% of U.S. households had an annual income over $200,000.1
However, this figure can vary significantly by industry, location, and level of experience.
This is 100% possible with the rise of technology and the internet.
To do this, you must focus on industries that value skills and experience over formal education.
Professions like real estate brokering, high-level sales, business entrepreneurship, or becoming a skilled tradesperson. You just need strong persistence.
The likely answer is typically one needs a grad degree or extensive experience in high-paying fields like medicine, law, engineering, or business.
However, specialized certifications, proven expertise, exceptional skills, or entrepreneurship can also be your ticket to this income level without traditional qualifications.
What Jobs Pay 200k a Year Interest You?
Now that you’re equipped with knowledge about reaching a $200k salary, consider which roles resonate with your skills and passions.
Maybe you’re intrigued by the challenge of a tech startup, or the idea of saving lives as a healthcare specialist is what drives you. Perhaps the strategic element of financial planning appeals to your analytical side, or the autonomy of forging your path as an entrepreneur is a calling.
Remember, selecting a profession that not only offers financial rewards but also aligns with your interests and values is crucial for long-term satisfaction and success. High tech degrees are highly sought after right now.
The great part about making this amount of money is you can increase your savings rate, but that doesn’t mean you should leave beyond your means.
There are plenty of avenues that will have you making over six figures quickly.
Source
Statistic. “Percentage distribution of household income in the United States in 2022.” https://www.statista.com/statistics/203183/percentage-distribution-of-household-income-in-the-us/. Accessed February 28, 2024.
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Joaquin Arambula, a Democratic assemblyman from California, introduced Assembly Bill 1840 earlier this year, which could create an alternative way for illegal immigrants to achieve homeownership.
The bill is set to expand eligibility criteria for a state loan program to expand these loans to include undocumented migrants that are first-time buyers.
Arambula’s update to the bill states, “an applicant under the program shall not be disqualified solely based on the applicant’s immigration status.”
BILL MELUGIN: ‘WHAT HAPPENS AT THE BORDER NO LONGER STAYS HERE’
Migrants attempt to cross in to the U.S. from Mexico at the border on December 17, 2023 in Jacumba Hot Springs, California. Asylum seekers are stuck in makeshift camps in the extreme climate of the US-Mexico border. (Photo by Nick Ut/Getty Images)
“It’s that ambiguity for undocumented individuals, despite the fact that they’ve qualified under existing criteria, such as having a qualified mortgage [that] underscores the pressing need for us to introduce legislation,” Arambula told the LA Times.
The bill focuses on the California Dream for All Shared Appreciation Loans program, which launched spring of 2023 to give qualifying first-time home buyers a loan that covers up to 20% of a property’s purchase price that will not accumulate interest or have required monthly payments. Loanees are instead expected to pay back the original loan amount in addition to 20% of the increase in the home’s value when the property’s mortgage is refinanced or resold.
First introduced on January 16th, Bill 1840 was originally intended to “provide shared appreciation loans” to low and middle income citizens. Under Arambula’s new proposal, the legislation would expand to allow the program to include illegal immigrants into the eligibility pool.
Arambula sent Fox News Digital a statement saying how the bill will address the uncertainty of the eligibility for undocumented indviduals.
“The California Dream for All program already exists – it was established to assist low- and middle-income individuals to purchase homes. But the program hasn’t been clear about eligibility for undocumented individuals, and AB 1840 addresses that issue. Let me be clear: anyone who meets the program’s criteria can apply for this loan program. And, to qualify, you must secure a bank loan or mortgage,” the statement said. “AB 1840 is about providing an opportunity for homeownership, which we know allows families to secure financial security and stability. The ability to do this strengthens local economies, and that benefits all people who call California home.”
TRUMP: ‘THIS IS A JOE BIDEN INVASION’
A U.S. Border Patrol agent talks with asylum-seekers waiting between the double fence along the U.S.-Mexico border near Tijuana, Mexico, Monday, May 8, 2023, in San Diego. The migrants wait between the fences to be processed by U.S. Border Patrol agents. (Denis Poroy)
The LA Times reported the California loan program garnered 2,300 applicants in less than two weeks last year before the program’s applications were halted, and that “the program will replace its first-come, first-serve basis with a lottery.”
Concerns continue to rise across the country as the migrant crisis continues to grow and overpower different states’ available resources.
The new Senate border bill that was introduced earlier this month before subsequently failing to gather enough support, was at the forefront of Biden’s priorities during his recent visit to the border.
“Folks, the bipartisan border security bill is a win for the American people and a win for the people of Texas, and it’s fair for those who legitimately have a right to come here,” Biden stated.
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President Joe Biden and National Border Patrol Council President Brandon Judd.(Getty Images)
National Border Patrol Council (NBCP) President Brandon Judd, who was present at former President Trump’s visit to the border in Eagle Pass, TX, relayed his sentiments towards the ongoing migrant crisis.
“Border patrol agents are upset that we cannot get the proper policy that is necessary to protect human life, to protect American citizens, to protect the people that are crossing the border illegally. We can’t do that because President Biden’s policies continue to invite people to cross here,” Judd said.
The artic was updated to include a statement from State Rep. Arambula.
Alba Cuebas-Fantauzzi is a freelance production assistant at Fox News Digital.