26:["$","$L27",null,{"category":"$28","relatedArticles":[{"id":"cG9zdDo0MDgxNg==","databaseId":40816,"postId":40816,"author":{"node":{"id":"dXNlcjo1MA==","databaseId":50,"userId":50,"avatar":{"url":"https://secure.gravatar.com/avatar/10ca58872f36412ceff58616bb971c22?s=96&d=mm&r=g","size":96,"__typename":"Avatar"},"description":"Amelia Josephson is a writer passionate about covering financial literacy topics. Her areas of expertise include retirement and home buying. Amelia's work has appeared across the web, including on AOL, CBS News and The Simple Dollar. She holds degrees from Columbia and Oxford. Originally from Alaska, Amelia now calls Brooklyn home.","additionalMeta":{"expertise":null,"__typename":"User_Additionalmeta"},"email":null,"firstName":"Amelia","fullName":"Amelia Josephson","lastName":"Josephson","name":"Amelia Josephson","postCount":{"pageInfo":{"offsetPagination":{"total":334,"__typename":"OffsetPaginationPageInfo"},"__typename":"UserToPostConnectionPageInfo"},"__typename":"UserToPostConnection"},"slug":"ajosephson","__typename":"User"},"__typename":"NodeWithAuthorToUserConnectionEdge"},"categories":{"nodes":[{"id":"dGVybTo4OQ==","children":{"nodes":[],"__typename":"CategoryToCategoryConnection"},"databaseId":89,"categoryId":89,"link":"https://smartasset.com/career/articles","name":"Career","postCount":{"pageInfo":{"offsetPagination":{"total":38,"__typename":"OffsetPaginationPageInfo"},"__typename":"CategoryToPostConnectionPageInfo"},"__typename":"CategoryToPostConnection"},"slug":"career","ancestors":null,"parent":null,"__typename":"Category"}],"__typename":"PostToCategoryConnection"},"content":"$29","date":"2015-10-30T11:30:03","excerpt":"

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Personal training is a growing field. According to IBISWorld research, the personal training industry grew 2.5% between 2010 and 2015. It employs 259,029 people and includes 60,704 businesses. The total revenue of the personal training industry tops $10 billion and the industry is expected to grow by 1.6% in 2015. But do personal trainers make a decent living? And are Americans getting their money’s worth? Find out here.

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Check out our budget calculator.

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Personal Training Basics

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A personal trainer is someone who whips you into shape with one-on-one coaching. He or she might stay by your side while you use machines at the gym or visit you in your home to work on a customized workout routine. Some trainers specialize in a certain form of exercise like yoga or pilates, but others are generalists.

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If you keep making New Years resolutions to get fit and it hasn’t happened yet, you might be wondering whether getting a personal trainer is worth a try. Or if you love fitness yourself you might be considering a career or a side hustle as a personal trainer. According to a study commissioned by the American Council on Exercise, between 2010 and 2013 the average salary of part-time personal trainers jumped 12%.

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What about full-time trainers? How much do they earn? In 2012, CNN Money put the median salary of a personal trainer at $56,000, with top pay of $128,000. Not bad, considering that the median household income in America was $53,657 in 2014 according to the Census Bureau.

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Keep in mind, though, that CNN’s $56,000 figure is higher than the Bureau of Labor Statistics (BLS) findings for the 2012 median pay of personal trainers. The BLS put the annual salary at $31,720 per year, or $15.25 per hour. That hourly wage is only 25 cents higher than the minimum wage for fast food workers in New York state.

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Salary isn’t the only factor that goes into making a good job, though. Another important factor is job security. Will the job of personal trainer be around for years to come? It sure looks that way. The BLS projects that the size of the personal training field will grow by 13% between 2012 and 2022. That’s right around the average growth percentage for all fields. Personal training is projected to add 33,500 jobs between 2012 and 2022.

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Becoming a Personal Trainer

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Do you want to be one of those 33,500 new personal trainers? The good news is that you won’t need a college degree to make it as a personal trainer, so you may even be able to skip the student loans if you’re wary of taking on debt.

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In fact, you may be better off skipping an undergraduate degree in a personal training-related field. A degree in Athletic Training made CNN Money’s list of “College Degrees That Don’t Pay.” According to CNN Money, graduates with a degree in Athletic Training have a median starting pay of $32,800 and a median mid-career pay of $45,700.

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Though you won’t need a BA to become a trainer, you will have some decisions to make as you launch your career in personal training. Will you work independently or be affiliated with a gym or studio? If you work out of your own home you’ll save money on overhead but sacrifice some privacy. If you travel to the homes and offices of your clients you’ll have to factor in transportation costs. And if you affiliate yourself with a gym or studio you may have to pay for that privilege.

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These decisions aren’t just about finding the best fit for your personality and work style. They also affect how much you’ll make as a personal trainer. According to the National Federation of Professional Trainers, “The trainer who is just starting out and working for a large health club chain will generally be on the lower end of the range, somewhere between $10.00 – $20.00 per hour; while the trainer working on their own or in a private studio setting is much more likely to be at the high end of the range, between $35.00 – $60.00 or more an hour.”

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Related Article: The Best 3 Gyms for Your Wallet

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Getting Certified

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While a certification from an organization like the American Council on Exercise (ACE) isn’t mandatory for personal trainers, it can be an asset. ACE offers three different study programs for those who want to work toward their certificate. The Standard Program comes with a $599 price tag. The Premium Program will cost you $699 and the Premium Plus Program will cost you $799 for study materials.

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According to ACE, its certified personal trainers are currently working in 83 countries. Here in the U.S., Washington, D.C., Rhode Island, Oklahoma, Kansas and Maine boast the highest annual income for ACE-certified personal trainers. ACE puts the total revenue generated by personal trainers at $7.2 billion annually.

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ACE isn’t the only option for those looking for certification as a personal trainer, though. The American College of Sports Medicine (ACSM) offers study materials for its certificate program that range in price from $135.99 to $800. A course of study with the National Academy of Sports Medicine (NASM) will cost you between $699 and $1,999 depending on what you opt for.

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Then there’s the certification exam. An ACE exam carries a price tag of $399. ACSM’s exam costs between $219 and $279, depending on how you take the exam and whether you’re a member. Anyone taking the NASM exam for personal trainer certification will pay $599. Head here for a full comparison of the three certification courses, including length of study time and accreditation information.

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Think you’re too old to get certified as a personal trainer? Think again. It’s not uncommon for Americans to turn to personal training as a second career. Mid-life career changes are sending more Americans age 40 and older into personal trainer certification programs. According to a National Academy of Sports Medicine survey, the number of certified personal trainers 40 and older increased by 7% between 2012 and 2013.

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Related Article: The Most Fitness-Friendly Cities in America

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Big Ticket Trainers

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The trainers who charge the most are – not surprisingly – the ones who work with the wealthiest clients. A recent New York Times article about the world of high-end personal trainers quoted a trainer who charges $2,000 per week (plus expenses) to travel with a client and train the client during a vacation or business trip.

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According to the Times article, a personal trainer with solid qualifications who makes house calls will cost $120 to $150 an hour. If you’re a trainer who is also qualified to offer nutritional advice you can charge around $200 an hour, while those who have built a personal brand may charge $250 an hour. For contrast, the Times cited the hourly rate of a basic trainer at the fancy Equinox gym chain at $105 an hour or $92 an hour as part of a 24-session package.

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As in many fields, building a personal brand can really pay off. Tracy Anderson, personal trainer to stars including Gwyneth Paltrow, has a reported net worth of $110 million. Between the gyms she owns and the sales of DVDs teaching the Tracy Anderson Method, Anderson has turned her personal training talents into big business.

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Personal Trainers’ Competition

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Personal trainers face some fierce competition in the fitness and wellness arena. For one thing, there are people who work out for free. A person who wants to get fit without spending a dime can follow along with YouTube videos, go for a walk or jog, head to an exercise park or just do some push-ups on the living room floor. Total cost? $0. If you live in a fitness-friendly city can be especially easy to get in shape for free.

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Then there are gyms and studios. A self-directed exerciser may decide to pay for a gym membership rather than opt for a personal trainer. The average monthly cost of a gym membership is $58. That works out to $696 per year.

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That may or may not be cheaper than seeing a personal trainer, depending on how much your trainer charges and how often you meet with him or her. If your trainer only charges $15 per session and you only go three times a month, hiring a trainer will be cheaper than getting a gym membership, provided you don’t also need the gym membership to have access to your chosen trainer. But if a trainer charges, say, $80, it’s easy to see how the costs of hiring a personal trainer can exceed the cost of a gym membership several times over.

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Not everyone is self-directed enough to work out in the park, via YouTube videos or at the gym. Plenty of people like outside motivation of one kind or another when it comes to getting fit. It’s no wonder, then, that exercise classes are so popular.

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High-prestige, big-name fitness classes have somewhat eclipsed personal training as an exercise option for those with more money to spend. For example, a single class at Barry’s Bootcamp in New York City will cost you $34. If you buy a 50-class pass and go roughly once a week, with two weeks off, you’ll pay $1,440. That’s over twice as much as the annual average cost of a gym membership, you’re limited as to how often you can go by the classes you can get in to and the program actually recommends going at least three times a week to see results. Plus, you’re not getting the personal attention you would get from a trainer. But Barry’s is hugely successful.

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Why would consumers pay more money for a class than they would for one-on-one instruction, which in theory could help with meeting tailored individual fitness goals? Consumers might like the social aspect of working out at a group glass or they might enjoy the sense of belonging that certain fitness classes (SoulCycle, CrossFit) cultivate. On the other hand, they might enjoy a little more anonymity and dislike the idea of all that personal attention and correction to their form.

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Saving on a Personal Trainer

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If you decide you want to employ a personal trainer, there are ways to save. For example, you may be charged less if you book training sessions for off-peak times, assuming your work schedule allows.

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Attending a personal training session that’s done online via webcam may also be cheaper than an in-person meeting. Or, you could go semi-private and book a personal trainer to do a session with you and a few friends. This could cut down on the intensity of a one-on-one training session and be a good way to test whether working out with a trainer is right for you.

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These days, it’s easier than ever to test out your fitness options. You can sign up for different exercises classes through a service like ClassPass to see what workout styles you enjoy the most.

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If you live in New York and want the full boot camp experience without going to the gym, you can hire a formerly incarcerated trainer from start-up ConBody to come to your house and devise a workout system that doesn’t require any equipment – just your body weight and the furniture you already have.

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The possibilities are endless, and the fitness business is booming.

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The Takeaway

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Whether you’re considering hiring a personal trainer or becoming one yourself, it’s good to know how the job works and how much value the personal training industry adds to the U.S. economy. As Americans continue to struggle with obesity, heart disease and the effects of our sedentary lifestyles, it’s likely that fitness-related spending will continue to climb, whether that spending goes to personal trainers, gyms or whatever the next fitness trend may be.

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Update: Do your financial questions extend beyond fitness? SmartAsset can help. So many people reached out to us looking for tax and long-term financial planning help, we started our own matching service to help you find a financial advisor. The SmartAdvisor matching tool can help you find a person to work with to meet your needs. First you’ll answer a series of questions about your situation and goals. Then the program will narrow down your options from thousands of advisors to three fiduciaries who suit your needs. You can then read their profiles to learn more about them, interview them on the phone or in person and choose who to work with in the future. This allows you to find a good fit while the program does much of the hard work for you.

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Photo credit: ©iStock.com/Susan Chiang, ©iStock.com/Geber86, ©iStock.com/Jacob Ammentorp Lund

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There are two ways to look at your net worth by age. The first is to measure your wealth against the median wealth of your age group and peers. This can be modestly helpful as a benchmark, but by and large it tells you nothing about your own needs. The far more helpful approach is […]

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As a spokesperson for SmartAsset, she has been cited by Bloomberg, CNBC, Business Insider, Fox News, The Hill and many more. \r\n\r\nJaclyn was previously an editor for CNET Money, where she covered banking, investing, credit cards and real estate. She also served as managing editor of small business content for Bizfluent, Work.Chron and AZCentral, and as a research consultant for NAPCO Media. 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The far more helpful approach is to consider your own financial goals. What do you need to build the life you want, and to afford your own lifestyle in retirement?

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At age 35, you still have a lot of flexibility in your net worth. Unlike many other age groups, there really isn’t a “should” for people in their 20’s and mid-30s, and you can even afford a comfortable retirement if you have nothing saved up at all. Talk to a financial advisor to start making a personalized financial plan.

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Median Net Worth

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We can use the median household as a benchmark for measuring net worth.

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U.S. Census Bureau data uses age 35 a hinge. For households 35 and under, the median net worth is about $22,000 according to the most recent data from the . Households age 35-44 have a median net worth of about $97,740. While this data doesn’t necessarily reflect what someone might have in a specific year, it does suggest that either or both the power of compound interest and career progression have a large impact on net worth over time.

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This means starting to implement healthy financial strategies today can have an outsized return for your future.

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Compare Your Net Worth to Your Goals

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Again, median numbers may not be particularly helpful for your personal circumstances. For example, a doctor who couldn’t even enter practice until age 28 with $200,000 in debt may have a net worth still in the red at 35, but he can more than likely overcompensate in the long run thanks to his compensation.

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The point is, you should measure your net worth by your own, individual situation. What your net worth should be depends entirely on what you have and what you, personally, need.

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When it comes to retirement, the net worth that you should have at age 35 depends on the retirement you want to afford. The more money you will want at age 67, the more money you need to have at age 35. There are a number of ways to measure this.

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Overall, the rule of thumb is to judge by your salary. Typically, by the time you enter retirement you want to have 10 times your annual salary saved up in your retirement fund. One common benchmark is to have two times your annual salary in net worth by age 35.

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So, for example, say that you earn the U.S. median income of $74,500. This means that you will want to have $740,500 saved up by age 67. To reach this goal, at age 35 you may want to have about $149,000 in savings. This will keep you on track with ordinary benchmarks.

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However, you can also judge this by doing the math on what you need to save each month to reach your goals. In that case, your benchmarks can be much lower. In fact, your net worth at age 35 can be nothing at all.

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Say that you are looking to save the benchmark $740,500. You contribute 10% of your income each month to your retirement account, for an annual contribution of $7,450 per year. You have this money held in an S&P 500 index fund earning the market’s historic average of 10% annual returns. You are 35 years old with nothing saved at all and you intend to retire at full retirement age of 67.

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Based on this profile, you will have $1.79 million by the time you retire. This is not only more than you need, it is plenty of money to afford a very comfortable retirement. Talk to a financial advisor today to build a plan to grow your net worth.

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Bottom Line

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Your net worth by age 35 will help you continue saving for your future. What you should have on hand depends entirely on your personal financial goals, but at this age there is still a lot of room for flexibility.

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Retirement Savings Tips

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Photo credit: ©iStock/MStudioImages, ©iStock/Ridofranz, ©iStock/andresr,

"],"experts":null,"link":"/career/what-should-my-net-worth-be-at-35","published":{"datetime":"2023-11-9","readable":"November 9, 2023"},"shareInfo":{"title":"What Should My Net Worth Be at Age 35? ","origin":"/career/what-should-my-net-worth-be-at-35"},"isNewsArticle":false},{"id":"cG9zdDoxNzYwNA==","databaseId":17604,"postId":17604,"author":{"node":{"id":"dXNlcjoyOA==","databaseId":28,"userId":28,"avatar":{"url":"https://secure.gravatar.com/avatar/c2129e3c852ac8063af4562fe9605e22?s=96&d=mm&r=g","size":96,"__typename":"Avatar"},"description":"Rebecca Lake is a retirement, investing and estate planning expert who has been writing about personal finance for a decade. Her expertise in the finance niche also extends to home buying, credit cards, banking and small business. She's worked directly with several major financial and insurance brands, including Citibank, Discover and AIG and her writing has appeared online at U.S. News and World Report, CreditCards.com and Investopedia. Rebecca is a graduate of the University of South Carolina and she also attended Charleston Southern University as a graduate student. Originally from central Virginia, she now lives on the North Carolina coast along with her two children. Rebecca also holds the Certified Educator in Personal Finance (CEPF®) designation.","additionalMeta":{"expertise":null,"__typename":"User_Additionalmeta"},"email":null,"firstName":"Rebecca","fullName":"Rebecca Lake, CEPF®","lastName":"Lake, CEPF®","name":"Rebecca Lake, CEPF®","postCount":{"pageInfo":{"offsetPagination":{"total":1235,"__typename":"OffsetPaginationPageInfo"},"__typename":"UserToPostConnectionPageInfo"},"__typename":"UserToPostConnection"},"slug":"rlake","__typename":"User"},"__typename":"NodeWithAuthorToUserConnectionEdge"},"categories":{"nodes":[{"id":"dGVybTo4OQ==","children":{"nodes":[],"__typename":"CategoryToCategoryConnection"},"databaseId":89,"categoryId":89,"link":"https://smartasset.com/career/articles","name":"Career","postCount":{"pageInfo":{"offsetPagination":{"total":38,"__typename":"OffsetPaginationPageInfo"},"__typename":"CategoryToPostConnectionPageInfo"},"__typename":"CategoryToPostConnection"},"slug":"career","ancestors":null,"parent":null,"__typename":"Category"},{"id":"dGVybTo5MQ==","children":{"nodes":[{"name":"Disability Insurance","slug":"disability-insurance","__typename":"Category"},{"name":"Health Insurance","slug":"health-insurance","__typename":"Category"},{"name":"Home Insurance","slug":"home-insurance","__typename":"Category"},{"name":"Liability Insurance","slug":"liability-insurance","__typename":"Category"},{"name":"Life Insurance","slug":"life-insurance-policies","__typename":"Category"},{"name":"Long-Term Care Insurance","slug":"long-term-care-insurance","__typename":"Category"},{"name":"Other","slug":"other-insurance","__typename":"Category"},{"name":"Vehicle Insurance","slug":"vehicle-insurance","__typename":"Category"}],"__typename":"CategoryToCategoryConnection"},"databaseId":91,"categoryId":91,"link":"https://smartasset.com/insurance/articles","name":"Insurance","postCount":{"pageInfo":{"offsetPagination":{"total":56,"__typename":"OffsetPaginationPageInfo"},"__typename":"CategoryToPostConnectionPageInfo"},"__typename":"CategoryToPostConnection"},"slug":"insurance","ancestors":null,"parent":null,"__typename":"Category"}],"__typename":"PostToCategoryConnection"},"content":"$3f","date":"2014-06-05T14:30:30","excerpt":"

\n","featuredImage":{"id":"cG9zdDoxNzMyMjQ=","databaseId":173224,"altText":"5 Insurance Policies to Buy if You're Self-Employed","date":"2022-11-08T17:55:15","fileSize":60495,"mimeType":"image/jpeg","modified":"2022-11-08T17:55:15","sourceUrl":"https://smartasset.com/wp-content/uploads/sites/2/2014/06/6815181129_aae41f9952_o-1.jpg","__typename":"MediaItem"},"modified":{"datetime":"2023-8-25","readable":"August 25, 2023"},"multipleBylinesByRole":{"editedBy":null,"reviewedBy":null,"writtenBy":null,"factCheckedBy":null,"secondEditor":null,"hideAuthor":null,"__typename":"Post_Multiplebylinesbyrole"},"adTargetingOverrides":{"fieldGroupName":"adTargetingOverrides","pageGroupNewKey":null,"__typename":"Post_Adtargetingoverrides"},"seo":{"canonical":"https://smartasset.com/career/5-insurance-policies-to-buy-if-youre-self-employed","metaDesc":"Self-employed people may enjoy greater freedom than those who work for an established company, but they also are responsible for more of their coverage.","metaKeywords":"","metaRobotsNofollow":"follow","metaRobotsNoindex":"index","readingTime":4,"title":"5 Insurance Policies to Buy if You're Self-Employed | SmartAsset","__typename":"PostTypeSEO"},"slug":"5-insurance-policies-to-buy-if-youre-self-employed","status":"publish","title":"5 Insurance Policies to Buy if You’re Self-Employed","uri":"/career/5-insurance-policies-to-buy-if-youre-self-employed","tags":{"nodes":[],"__typename":"PostToTagConnection"},"__typename":"Post","adPageGroupOverride":null,"bylines":{"writtenBy":{"id":"dXNlcjoyOA==","databaseId":28,"userId":28,"avatar":"$40","description":"Rebecca Lake is a retirement, investing and estate planning expert who has been writing about personal finance for a decade. Her expertise in the finance niche also extends to home buying, credit cards, banking and small business. She's worked directly with several major financial and insurance brands, including Citibank, Discover and AIG and her writing has appeared online at U.S. News and World Report, CreditCards.com and Investopedia. Rebecca is a graduate of the University of South Carolina and she also attended Charleston Southern University as a graduate student. Originally from central Virginia, she now lives on the North Carolina coast along with her two children. Rebecca also holds the Certified Educator in Personal Finance (CEPF®) designation.","additionalMeta":"$41","email":null,"firstName":"Rebecca","fullName":"Rebecca Lake, CEPF®","lastName":"Lake, CEPF®","name":"Rebecca Lake, CEPF®","postCount":"$42","slug":"rebecca-lake-cepf","__typename":"User"},"editedBy":null,"reviewedBy":null,"factCheckedBy":null,"secondEditor":null},"category":{"id":"dGVybTo4OQ==","children":"$45","databaseId":89,"categoryId":89,"link":"https://smartasset.com/career/articles","name":"Career","postCount":38,"slug":"career","ancestors":null,"parent":null,"__typename":"Category"},"isModifiedBeforePublished":false,"contentBlocks":["

Flexibility and freedom are just two of the advantages that go along with being your own boss. Taking the plunge into being self-employed can be financially rewarding but if you don’t have a sizable bankroll of cash sitting around, you may need to cut corners until you start seeing a profit. While it’s important to keep your overhead down, one thing you can’t afford to skimp on is insurance. If you’re planning to start your own business or launch a freelance career, here are five important types of insurance you’ll need.

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1. Health Insurance

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One of the biggest downsides associated with leaving the 9 to 5 behind is losing your employer’s health insurance coverage. If you’re used to having your monthly premiums deducted from your paycheck, having to buy your own policy can be a real eye-opener. Finding affordable coverage means knowing what your options area.

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The National Association for the Self-Employed offers a variety of resources for entrepreneurs and small business owners, including information on health insurance. The Freelancer’s Union offers several insurance options directly to members as well as a 401(k) plan and discounts on business services. It may take some time to do the research but shopping around first can help you snag the best rate.

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2. Disability Insurance

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If you get hurt or become seriously ill it can put a serious crimp in your cash flow when you’re not able to run your business. Disability insurance can help keep you afloat financially until you’re back on your feet again. Typically, this kind of coverage is designed to replace around 60 percent of your income so you’ll want to have a sizable emergency fund in place as well.

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Buying a disability policy directly from an insurance company can be tricky, since many insurers only offer limited benefits to the self-employed. You may find it easier to get coverage through a local professional organization or association if they offer a group policy.

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3. Business Insurance

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Business insurance refers to a broad range of insurance types that are designed to fill the gaps in your existing coverage. For instance, if you work from home you may want to buy a home-based business policy, which would cover losses that don’t fall under your regular homeowners’ insurance. This may include things like damage to your business property or theft.

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If you run a small business with employees, you may want to look for a comprehensive policy that combines property and liability coverage. This type of policy protects the business structure itself and any business-related equipment against theft or damage. You’ll also be covered if an employee or someone else is injured on the business premises.

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4. Liability Insurance

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Liability insurance is designed to protect you personally against negligence claims. There are several types of liability insurance you may want to invest in, depending on the type of business you own.

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Product liability insurance, for example, insures you against claims resulting from injuries or damages caused by your business’s product. If you’re worried about other types of claims, you may want to opt for a general policy, which provides umbrella protection against lawsuits stemming from negligence or personal injury claims.

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5. Life Insurance

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Even if you’re relatively young it’s important to have some kind of life insurance in place, especially if you have a family. If you’re planning to borrow money to get your business off the ground, the bank may require you to purchase life insurance first to cover any potential losses in the event of your death.

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When buying life insurance, you’ll have to decide whether you want a whole life or term policy. Term life is less expensive but it’s only designed to be effective for a certain period of time. Permanent life insurance will cost you more but covers you for life and allows you to build some cash value in the policy.

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Making sure you have the right kinds of insurance in place before you set out on the self-employed path can save you money and stress in the long run. Squeezing coverage into your start-up budget can be tough but it pays to be safe rather than sorry.

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Update: Have more financial questions? SmartAsset can help. So many people reached out to us looking for tax and long-term financial planning help, we started our own matching service to help you find a financial advisor. The SmartAdvisor matching tool can help you find a person to work with to meet your needs. First you’ll answer a series of questions about your situation and goals. Then the program will narrow down your options from thousands of advisors to three fiduciaries who suit your needs. You can then read their profiles to learn more about them, interview them on the phone or in person and choose who to work with in the future. This allows you to find a good fit while the program does much of the hard work for you.

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Photo Credit: flickr

"],"experts":null,"link":"/career/5-insurance-policies-to-buy-if-youre-self-employed","published":{"datetime":"2014-6-5","readable":"June 5, 2014"},"shareInfo":{"title":"5 Insurance Policies to Buy if You’re Self-Employed","origin":"/career/5-insurance-policies-to-buy-if-youre-self-employed"},"isNewsArticle":false},{"id":"cG9zdDo1ODU5Mg==","databaseId":58592,"postId":58592,"author":{"node":{"id":"dXNlcjo1MA==","databaseId":50,"userId":50,"avatar":{"url":"https://secure.gravatar.com/avatar/10ca58872f36412ceff58616bb971c22?s=96&d=mm&r=g","size":96,"__typename":"Avatar"},"description":"Amelia Josephson is a writer passionate about covering financial literacy topics. Her areas of expertise include retirement and home buying. Amelia's work has appeared across the web, including on AOL, CBS News and The Simple Dollar. She holds degrees from Columbia and Oxford. Originally from Alaska, Amelia now calls Brooklyn home.","additionalMeta":{"expertise":null,"__typename":"User_Additionalmeta"},"email":null,"firstName":"Amelia","fullName":"Amelia Josephson","lastName":"Josephson","name":"Amelia Josephson","postCount":{"pageInfo":{"offsetPagination":{"total":334,"__typename":"OffsetPaginationPageInfo"},"__typename":"UserToPostConnectionPageInfo"},"__typename":"UserToPostConnection"},"slug":"ajosephson","__typename":"User"},"__typename":"NodeWithAuthorToUserConnectionEdge"},"categories":{"nodes":[{"id":"dGVybTo4OQ==","children":{"nodes":[],"__typename":"CategoryToCategoryConnection"},"databaseId":89,"categoryId":89,"link":"https://smartasset.com/career/articles","name":"Career","postCount":{"pageInfo":{"offsetPagination":{"total":38,"__typename":"OffsetPaginationPageInfo"},"__typename":"CategoryToPostConnectionPageInfo"},"__typename":"CategoryToPostConnection"},"slug":"career","ancestors":null,"parent":null,"__typename":"Category"}],"__typename":"PostToCategoryConnection"},"content":"$47","date":"2017-01-04T10:00:37","excerpt":"

\n","featuredImage":{"id":"cG9zdDoxOTY1ODM=","databaseId":196583,"altText":"The Average Salary of a Surgeon","date":"2023-05-06T22:14:54","fileSize":29828,"mimeType":"image/jpeg","modified":"2023-05-06T22:14:54","sourceUrl":"https://smartasset.com/wp-content/uploads/sites/2/2017/01/average_salary_of_a_surgeon_1.jpg","__typename":"MediaItem"},"modified":{"datetime":"2023-5-7","readable":"May 7, 2023"},"multipleBylinesByRole":{"editedBy":null,"reviewedBy":null,"writtenBy":null,"factCheckedBy":null,"secondEditor":null,"hideAuthor":null,"__typename":"Post_Multiplebylinesbyrole"},"adTargetingOverrides":{"fieldGroupName":"adTargetingOverrides","pageGroupNewKey":null,"__typename":"Post_Adtargetingoverrides"},"seo":{"canonical":"https://smartasset.com/career/the-average-salary-of-a-surgeon","metaDesc":"The average salary of a surgeon is solidly in the six figures, even among the lowest-paid surgeons. Here's how much you can expect to earn.","metaKeywords":"","metaRobotsNofollow":"follow","metaRobotsNoindex":"index","readingTime":4,"title":"The Average Salary of a Surgeon - SmartAsset","__typename":"PostTypeSEO"},"slug":"the-average-salary-of-a-surgeon","status":"publish","title":"The Average Salary of a Surgeon","uri":"/career/the-average-salary-of-a-surgeon","tags":{"nodes":[],"__typename":"PostToTagConnection"},"__typename":"Post","adPageGroupOverride":null,"bylines":{"writtenBy":{"id":"dXNlcjo1MA==","databaseId":50,"userId":50,"avatar":"$48","description":"Amelia Josephson is a writer passionate about covering financial literacy topics. Her areas of expertise include retirement and home buying. Amelia's work has appeared across the web, including on AOL, CBS News and The Simple Dollar. She holds degrees from Columbia and Oxford. Originally from Alaska, Amelia now calls Brooklyn home.","additionalMeta":"$49","email":null,"firstName":"Amelia","fullName":"Amelia Josephson","lastName":"Josephson","name":"Amelia Josephson","postCount":"$4a","slug":"amelia-josephson","__typename":"User"},"editedBy":null,"reviewedBy":null,"factCheckedBy":null,"secondEditor":null},"category":{"id":"dGVybTo4OQ==","children":"$4d","databaseId":89,"categoryId":89,"link":"https://smartasset.com/career/articles","name":"Career","postCount":38,"slug":"career","ancestors":null,"parent":null,"__typename":"Category"},"isModifiedBeforePublished":false,"contentBlocks":["

Surgery is a prestigious field that requires a high degree of skill, dedication and hard work of its members. Not surprisingly, surgeons’ compensation reflects this fact, as the average salary of a surgeon was $255,110 in 2018. This figure can vary slightly depending on where you live and the type of institution at which you work. Moreover, the path to becoming a surgeon is long and involves a substantial amount of schooling, which might result in student loan debt.

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Average Salary of a Surgeon: The Basics

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According to the Bureau of Labor Statistics (BLS), the average salary of a surgeon was $255,110 per year in 2018. That comes out to an hourly wage of $122.65 per hour assuming a 40-hour work week – though the typical surgeon works longer hours than that. Even the lowest-paid 10% of surgeons earn $94,960 per year, so the chances are high that becoming a surgeon will result in a six-figure salary. The average salary of a surgeon is higher than the average salary of other doctors, with the exception of anesthesiologists, who earn roughly as much as surgeons.

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The top-paying state for surgeons is Nebraska, with a mean annual salary of $287,890. Following Nebraska is Maine, New Jersey, Maryland and Kansas. Top-paying metro area for surgeons include Cincinnati, OH-KY-IN; Winchester, WV-VA; Albany-Schenectady-Troy, NY; New Orleans-Metairie, LA; and Bowling Green, KY.

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Where Surgeons Work

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According to BLS data, most of the surgeons in the U.S. work in physicians’ offices, where the mean annual wage for surgeons is $265,920. Second to physicians’ offices for the highest concentration of surgeons are General Medical and Surgical Hospitals, where the mean annual wage for surgeons is $225,700. Colleges, universities and professional schools are next up. There, surgeons earn an annual mean wage of $175,410. A smaller number of surgeons are employed in outpatient Care Centers, where the mean annual wage for surgeons is $277,670. Last up are special hospitals. There, the mean annual wage for surgeons is $235,770.

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Becoming a Surgeon

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You may have heard that the cost of becoming a doctor, including the cost of medical school and other expenses, has soared. Aspiring surgeons must first get a bachelor’s degree from an accredited college, preferably in a scientific field like biology.

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Then comes the Medical College Acceptance Test (MCAT) and applications to medical schools. The application process can get expensive quickly, as many schools require in-person interviews without reimbursing applicants for travel expenses.

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If accepted, you’ll then spend four years in medical school earning your M.D. Once you’ve accomplished that, you’ll almost certainly enter a residency program at a hospital. According to a 2018 survey by Medscape, the average medical resident earns a salary of $59,300, up $2,100 from the previous year. General surgery residents earned slightly less ($58,800), but more specialized residents like those practicing neurological surgery earned more ($61,800).

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According to the American College of Surgeons, surgical residency programs last five years for general surgery. But some residency programs are longer than five years. For example, thoracic surgery and pediatric surgery both require residents to complete the five-year general surgery residency, plus two additional years of field-specific surgical residency.

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Surgeons must also be licensed and certified. The fees for the licensing exam are the same regardless as specialty, but the application and exam fees for board certification vary by specialty. Maintenance of certification is also required. It’s not a set-it-and-forget-it qualification. The American Board of Surgery requires continuing education, as well as an exam at 10-year intervals.

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Bottom Line

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Surgeons earn some of the highest salaries in the country. However, the costs associated with becoming a surgeon are high, and student debt may eat into surgeons’ high salaries for years. The costs of maintaining certification and professional insurance are significant ongoing costs associated with being a surgeon.

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Tips for Forging a Career Path

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