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Six-figure salaries without a college degree: What jobs are making it happen

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By: Taylor Nimmo

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CINCINNATI — A college degree used to be considered the only ticket to a six-figure salary. But these days, more Americans are reaching that milestone without one.

A new study from LendingTree reveals that the job market has undergone a fundamental shift, opening doors for workers without traditional four-year degrees.

In 2023, 5.7 million full-time, year-round workers without a bachelor's degree earned $100,000 or more, meaning 9.1% of workers without a bachelor's degree earned six figures.

WATCH: See which careers made the list

Six-figure salaries without a college degree: What jobs are making it happen

"It used to be that a college degree was something that if you didn't have it, companies weren't going to look at you, at least a lot of them wouldn't," said Matt Schulz, chief consumer finance analyst at LendingTree.

Schulz said in recent years that the mindset has changed.

"Maybe now more than ever, it's possible to make six figures without having that college degree, and that's really significant information," Schulz said.

The gender gap in high-paying jobs

While opportunities exist for workers without degrees, the data reveals significant disparities:

Men without degrees: 4.4 million earn $100,000 or more
Women without degrees: 1.3 million earn $100,000 or more
Men make up 58.9% of full-time workers without bachelor's degrees, but account for 77.7% of high earners

Top-paying jobs that don't require a degree

The study identified careers where at least 40% of workers without degrees earn six figures:

Chief executives and legislators
Architectural and engineering managers
Software developers
Sales engineers
IT managers

Unexpected high-paying careers

Some lucrative positions might surprise job seekers looking for alternatives to traditional college paths:

Elevator installers and repairers: 47.5% earn six figures without a degree
Locomotive engineers: Over 40% earn six figures without a degree
Power plant operators: Over 40% earn six figures without a degree
Electrical power-line installers and repairers: Over 40% earn six figures without a degree

Geographic hotspots for high earners

Cities with the highest percentage of six-figure earners without degrees:

San Francisco: 17.1%
Seattle: 17.0%
San Jose, California: 16.7%

Cities with the lowest percentages:

Greensboro, North Carolina: 4.9%
El Paso, Texas: 4.9%
Lakeland, Florida: 5.2%

In 81 of the 100 largest metros, the most common high-earning job for workers without bachelor's degrees is "other managers."

What's driving this trend?

The shift toward skills-based hiring has been accelerated by technology and changing workplace demands.

"Now, most software packages, most tools are available online. It's just so much easier to gain this experience and this information now than it's ever been without setting foot on a college campus," Schulz said.

While opportunities exist, landing a six-figure job without a degree isn't guaranteed. The data shows that 58.8% of the full-time workforce doesn't hold at least a bachelor's degree, but only about one in 10 people without a degree reach that income level.

"Well, they're not giving these jobs away and we're still only talking about about 10% of people without a bachelor's degree. So it's still not as likely as if you have a college degree," Schulz said.

Expert advice for success

Schulz recommends staying flexible and continuously building professional networks for those pursuing high-paying careers without degrees.

"Just to keep learning, even if you're not going to college...and to be adaptable in a workplace that is changing constantly," Schulz said.

This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.

"Don't Waste Your Money" is a registered trademark of Scripps Media, Inc. ("Scripps").

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