News anchors make an average salary of around $48,000 a year, according to ZipRecruiter.
But keep in mind there are many factors taken into account when determining pay, including experience, market size, location, and the size of the employer. For example, news anchors working in locations with larger audience sizes and for bigger networks or cable news will generally make higher salaries.
What Are News Anchors?
News anchors are journalists who are responsible for delivering the news to their audience. These professionals can work for a television, radio, cable, or media outlet. Some work in local markets, while others broadcast in national markets or on cable news.
News anchors spend some days in the newsroom and others covering a story out in the field. Many start their careers as reporters, covering a specific beat or coverage area, like state and local government, education, or local businesses.
As a news anchor, it’s important to stay up to date on current events and have strong interview, researching, and writing skills. And since you’ll likely handle breaking news from time to time, it also helps if you’re good at multitasking and staying calm under pressure.
News anchors also have a lot of interaction with other people and work with a team, including producers, reporters, audio engineers, and camera operators. If this much interaction isn’t the right fit for you, you may want to look into jobs for introverts.
Like many journalism roles, a news anchor requires a bachelor’s degree. Internships can be a great way to gain experience in the field, establish contacts, and start building your professional network.
How Much Do Starting News Anchors Make?
An entry-level news reporter makes an average of $42,378 a year, according to ZipRecruiter.
That said, there are many factors that come into play when determining salary, such as location and experience. It’s common for news anchors to start their careers as reporters in small local markets and work their way up to anchor desks in larger news markets. Bigger markets — and more viewers — typically bring higher salaries.
Many considerations should go into what makes a good entry-level salary, including work schedule flexibility, paid time off, and benefits like health insurance and a retirement plan.
What Is the Average Salary for a News Anchor?
As mentioned, the average salary for a news anchor is $48,077 a year, according to ZipRecruiter. If you want to break it down to how much a news anchor makes an hour, the average is roughly $23.
For the top earners, the average salary is around $58,500 a year, and for the bottom 25th percentile the average salary is $40,000. Some news anchors, usually those working at major news networks, can make more than $100,000 a year.
However, no matter how much you earn, it’s a good idea to set short- and long-term financial goals. A money tracker app can help you monitor your spending and saving and also provide useful insights.
What Is the Average News Anchor Salary by State?
While some news anchors take home a hefty salary, journalism roles tend not to be the highest-paying jobs in a state.
Here are the average salaries for broadcasters, which includes news anchors, by state, according to job site Indeed.
News Anchor Job Considerations for Pay and Benefits
Being in the news industry means covering fresh stories and meeting new people every day, but the pace can be relentless. Breaking news can happen at any time and anywhere, which can mean working beyond a typical 9-5 schedule and having to travel unexpectedly.
News anchor compensations can also include benefits like a retirement savings plan and health insurance. Some roles may also come with added perks like car services and wardrobe stipends. Bonuses can also be common in the industry.
It’s important to note that the journalism industry can be shaky and is expected to shrink in the coming years. The Labor Department forecasts that employment of news analysts, reporters, and journalism will drop 3% from 2022-2032. That means that it expects there to be 56,600 jobs in the industry in 2032 compared to 58,500 in 2022.
Pros and Cons of News Anchor Salary
There are many factors to consider when evaluating a salary, including the local cost of living and your spending and debt levels. Advancing into bigger markets can bring a substantial pay increase for news anchors.
The life of a news anchor can seem glamorous between the wardrobe, hair and makeup, and lights and cameras. But the news cycle can be draining, and there isn’t a lot of flexibility when it comes to the schedule or remote work options.
Morning news anchors will start their days before the sun comes up, preparing for interviews, catching up on news, and reviewing a show’s rundown. If you are looking for roles with more flexibility, you may want to explore work-from-home jobs.
The Takeaway
Becoming a news anchor means taking on the responsibility of delivering news to viewers. A typical news anchor salary is around $48,077 a year, per ZipRecruiter.
But that figure can vary depending on experience, the size of the employer, the size of the market, and other factors. Typically, news anchors start their careers in smaller, local markets. As they gain more experience, they may have opportunities to advance to larger markets, which tend to pay more.
If you’re passionate about the news and want to help keep your community informed, a career as a news anchor may be right for you.
This article originally appeared on SoFi.com
https://www.sofi.com/learn/content/how-much-does-a-news-anchor-make/
and was syndicated by MediaFeed.org.
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How much the average American makes at every age
Your education, industry, work experience, negotiation skills, and plain luck can all influence how much money you make. To get an idea of whether you’re earning a competitive salary, it can be helpful to know how much other people in the same age group are making.
Let’s take a closer look at the average income by age in the U.S., according to the Bureau of Labor Statistics.
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The early days of your working life usually aren’t the most lucrative: 16 to 19 year olds who work full-time make $32,396 a year on average.
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Salaries start to rise as workers gain experience. Those in the 20 to 24 age group make an average annual salary of $38,324.
This is when many financially savvy professionals start building their 401(k) balance. That’s because the earlier you invest for retirement, the less money you’ll typically have to invest over time. Or, as the saying goes, your time in the market is more important than marketing timing.
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We start to see a big increase in salary once workers reach the 25 to 34 age group, with the average annual income hitting $52,832.
Ideally, employees will put much of their raises and bonuses toward savings rather than impulse spending.
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For 35 to 44 year olds, their annual salary is still growing: $62,608 on average. This is the beginning of what’s commonly referred to as “peak earning years.”
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While many employees enjoy higher wages into their 50s, others find their salary stagnating. Overall, workers in the 45 to 54 age group actually see salaries drop a little, though only by $208. The average annual income in middle age is $62,400.
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Salaries really drop for workers between 55 and 64, whose average annual salary is $61,204. What happened to paying for experience? Some companies may believe they can pay younger employees less for the same work, and see older workers as overpaid. As a result, 55+ workers are no longer offered the same retention incentives — such as pay raises — regardless of performance.
On the other hand, professionals who are satisfied with their retirement savings may choose to work less or retire early instead of waiting until the average retirement age.
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Once workers reach 65, they are likely shifting to part-time work to stay active during retirement and to earn a little extra retirement income. Some people need more retirement income than others, and Social Security benefits and savings aren’t always enough. Which may be why we see salaries drop to an average of $54,444 per year for those 65 or older.
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Now that we’ve shed some light on the average income by age in the U.S., let’s address some ways workers can maximize their salary. That can mean finding ways to hold on to what you’re earning or to make it grow.
Create a Budget
If you’ve ever created a spending budget, you know how shocking it can be to see all the ways we fritter away our hard-earned salary on unnecessary purchases. By cutting back on items you don’t really need — from bottled water to forgotten subscriptions — you’ll free up more cash for things like saving and investing.
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What’s even more shocking than the amount you spend on little things like daily snacks and late-night Ubers? The interest charges and fees that come with debt. The faster you pay off high-interest credit cards, the more you can put toward longer term goals: an emergency fund, travel, or buying a home.
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One easy way to make saving and investing a priority is to automate it: Set up regular, recurring transfers from your paycheck or checking account. That way, big goals like a dream wedding and retirement are prioritized before there’s even a chance to spend that money.
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Taxes may be an unavoidable part of life, but there are ways to pay less to Uncle Sam. Whether you hire a tax accountant or use software to file your return, look for opportunities to snag a larger tax refund.
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One way to make savings grow is to open a brokerage account and invest money in the stock market. Start small while you learn the ropes. While investing comes with risk (and more taxes), it’s a means of making your money work for you.
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Contributing to a retirement savings account is a convenient way to save and invest in one fell swoop. As an added benefit, some employers match a portion of employee contributions. That means if someone isn’t contributing to their employer sponsored 401(k) plan, they’re leaving free money on the table. that helps expand an employee’s net worth.
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A low-risk way to earn money on savings is by opening a high-yield savings account. This type of savings account tends to offer a higher interest rate than normal savings accounts.
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The average income by age in the U.S. tends to rise as workers gain more experience. Eventually salaries plateau and then drop off. Your peak earning years coincide with middle age, meaning you make the most you ever will in your 40s and 50s. The average salary in the U.S. tops out at $62,608 for ages 35-44.
This article originally appeared on Sofi.com and was syndicated by MediaFeed.org.
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