Jobs requiring a bachelorâs degree or higher level of education for entry are often more insulated from unemployment than others. During the COVID-19 pandemic, total unemployment for individuals 25 years and older spiked to 13.1% in April 2020. However, the highest unemployment rate over the past year for bachelorâs degree holders 25 and older was 8.4% in April 2020. As of November 2020, the national unemployment rate was 6.7% â 2.5 percentage points higher than the unemployment rate for bachelorâs degree holders.
Some jobs for bachelorâs degree holders may be even more insulated from economic changes as demand is high. In this study, we investigated the most in-demand jobs for bachelorâs degree holders. We compared a total of 131 occupations across four metrics: percentage change in average earnings from 2018 to 2019, percentage change in employment from 2018 to 2019, projected employment change from 2019 to 2029 and projected percentage change in employment from 2019 to 2029. For details on our data sources or how we put all the information together to create our final rankings, check out the Data and Methodology section below.
This is SmartAssetâs third annual study on the most in-demand jobs for bachelorâs degree holders. Check out the 2020 rankings here.
Key Findings
A list similar to last year. Almost half of the 10 most in-demand jobs for bachelorâs degree holders in 2021 were in our top 10 last year. They are computer and information systems managers, information security analysts, interpreters & translators and medical & health service managers. Of those four occupations, interpreters & translators saw the biggest jump between the two years, moving down five spots from first to sixth.
More than 30% growth expected in two occupations. On average across the 131 occupations in our study, employment is expected to grow by 5.0% between 2019 and 2029. But the expected growth is more than six times higher for two occupations â information security analysts and medical & health service managers. The Bureau of Labor Statistics (BLS) predicts employment increases of 31.2% and 31.5% for those two occupations, respectively, between 2019 and 2029.
1. Producers and Directors
The producer and director occupation ranks in the top quartile of our study for all four metrics we considered. Between 2018 and 2019, employment of producers and directors grew by almost 9%, while average earnings rose by about 5%. Moreover, the BLS projects the occupation will continue to grow. According to their estimates, the number of producers and directors will increase by 16,000, or 10.0%, from 2019 to 2029.
2. Computer and Information Systems Managers (tie)
The computer and information systems manager occupation ranks in the top 15% of occupations for three of the four metrics in our study. The occupation saw the ninth-largest percentage increase in employment from 2018 to 2019, growing by 10.87%. Between 2019 and 2029, the BLS expects it will grow by another 10.4%, adding 48,100 workers. Across all 131 occupations, that is the 19th-highest percentage increase and ninth-largest gross increase in workers.
2. Agents and Business Managers of Artists, Performers and Athletes (tie)
The occupation of agent and business manager for artists, performers and athletes ties with computer and information systems manager as the No. 2 in-demand job for bachelorâs degree holders. Between 2018 and 2019, average pay for agents and business managers for artists, performers and athletes grew by almost 7%, the seventh-highest rate across all 131 occupations. Over the same time period, employment grew by 15%, second-highest in our study for this metric.
4. Information Security Analysts
Information security analyst is the fourth most in-demand job for bachelorâs degree holders, moving up from fifth place last year. Though average earnings grew at a comparable pace year-over-year, employment increased sharply in this profession. BLS estimates show that information security analyst employment increased by 16.20%. There were about 108,100 information security analysts in 2018 and almost 125,600 in 2019.
5. Actuaries
Most actuaries work for insurance companies, assessing the financial costs of risk and uncertainty. Between 2018 and 2019, average earnings for actuaries grew by 4.06% â the 15th-highest one-year earnings increase in our study. Additionally, between 2019 and 2029, employment for this occupation is expected to grow by another 17.6%, the seventh-largest percentage change in employment in the study.
6. Interpreters and Translators
According to BLS employment projections, the number of interpreters and translators in the U.S. is expected to increase by 20.0% between 2019 and 2029, a top-five rate in our study. With that projected percentage change, employment will grow by roughly 15,500 workers, a top-30 rate. Most recently, from 2018 to 2019, average earnings for interpreters and translators grew by 3.20%, the 25th-highest rate for this metric in the study.
7. Fundraisers
The occupation of fundraiser ranks in the top third of all 131 occupations for three of the four metrics we considered. Between 2018 and 2019, employment grew by 7.87%, the 19th-highest rate. Looking forward, total employment of fundraisers is expected to grow by 14,400, or 14.3%, over the next 10 years â the 30th-largest gross increase and 11th-highest percentage increase.
8. Medical and Health Service Managers
Medical and health service managers plan and coordinate the business activities of healthcare providers. Average earnings for medical and health service managers are high and growing. In 2018 and 2019, average earnings for workers in the occupation stood at $113,730 and $115,160, respectively. Additionally, across the 131 occupations in our study, BLS expects the profession to have the third-largest gross employment increase (133,200 workers) and highest percentage employment increase (31.5%) over approximately the next decade.
9. Athletic Trainers
Between 2019 and 2029, the occupation of athletic trainer is expected to grow by 16.2%, the ninth-highest rate for this metric in our study. Athletic trainers may also see their earnings continue to grow over time. Between 2018 and 2019, average earnings for athletic trainers increased by 2.56% from about $49,300 to more than $50,500.
10. Compensation, Benefits and Job Analysis Specialists
Compensation, benefits and job analysis specialist rounds out our list of the top 10 most in-demand jobs for bachelorâs degree holders. Average earnings for compensation, benefits and job analysis specialists grew by 2.84% between 2018 and 2019, 33rd-highest in our study. The occupation ranks within the top third of the study for the other three metrics as well. It had the 26th-highest percentage change in employment from 2018 to 2019 (6.88%), the 43rd-greatest projected gross employment change from 2019 to 2029 (7,500) and the 28th-highest projected percentage employment change from 2019 to 2029 (7.9%).
Data and Methodology
To find the most in-demand jobs for bachelorâs degree holders, we looked at data for 131 occupations that the BLS classifies as typically requiring a bachelorâs degree for entry. We compared the 131 occupations across four metrics:
Percentage change in average earnings from 2018 to 2019. Data comes from BLS Occupational Employment Statistics and is for May 2018 and May 2019.
Percentage change in employment from 2018 to 2019. Data comes from BLS Occupational Employment Statistics and is for May 2018 and May 2019.
Projected employment change from 2019 to 2029 (gross figure). This is the projected change in the total number of people employed in an occupation from 2019 to 2029. Data comes from the BLS 2019 Employment Projections.
Projected employment change from 2019 to 2029 (percentage change). This is the projected percentage change in the number of people employed in an occupation from 2019 to 2029. Data comes from the BLS 2019 Employment Projections.
We ranked each occupation in every metric, giving a full weighting to all metrics. We then found each occupationâs average ranking and used that to determine a final score. The occupation with the best average ranking received a score of 100 while the occupation with the worst average ranking received a score of 0.
Tips for Making Educated Choices With Your Earnings
Invest early. With relatively high income and earnings, many bachelorâs degree workers may be able to have an early retirement. To do this, it is important to take advantage of compound interest by investing early. Take a look at our investment calculator to see how your investment in a savings account can grow over time.
Contribute to a 401(k). A 401(k) is an employer-sponsored defined contribution plan in which you divert pre-tax portions of your monthly paycheck into a retirement account. Some employers will also match your 401(k) contributions up to a certain percentage of your salary, meaning that if you chose not to contribute, you are essentially leaving money on the table. Our 401(k) calculator can help you determine what you saved for retirement so far and how much more you may need.
Consider professional help. A financial advisor can help you make smarter financial decisions to be in better control of your money. Finding the right financial advisor that doesnât have to be hard. SmartAssetâs free tool matches you with financial advisors in your area in five minutes. If youâre ready to be matched with local advisors that will help you achieve your financial goals, get started now.
Questions about our study? Contact us at press@smartasset.com.
If you’re applying for a credit card, you might stumble upon this term “accessible income.” In fact, that’s the only situation in which you will come across the term: on a credit card application. So, you need to know what it is.
Accessible income is not just income you earn from your regular job. Rather, it includes much more than that. It includes income from a wide variety of sources, like retirement savings accounts, social security payments, trust funds, just to name a few.
Accessible income can work in your favor because not only you can list income from your job, but also all types of other money you receive in a given year. This in turn will increase your chance of getting approved for the credit card, simply because you can list a higher income.
It also can get you approved for a higher credit limit, which in turn can help your credit score and allow you more spending freedom. In this article, I will explain what accessible income is and the types of income you need to include in your credit card application. Before you start applying for too many credit cards, consult with a financial advisor who can help you develop a plan.
What is accessible income?
Accessible income means all of the money that you have accessed to if you are 21 years old or older. According to the Credit Card Accountability Responsibility and Disclosure Act, lenders are required to offer you credit if you are able to pay your bill. If you do not make enough money and do not receive enough income from other sources and cannot make payments, they can reject your application. That is why they ask for your accessible income.
If you are between the age of 18 and 20, your accessible income is limited to income for your job, scholarships, grants and money from your parents or other people.
However, if you are 21 and older, your accessible income involves way more than that. It includes income from the following sources:
Income paychecks
Tips
Bank checking accounts
Savings accounts
Income of a spouse
Grants, scholarships, and other forms of financial aid
Investments income
Retirement funds
Trust funds
Passive income
Checks from child support and spousal maintenance
Allowances from your parents or grandparents
Social security payments or SSI Disability payments
To report that accessible income, just add them all up to arrive at a total and submit it. The credit card companies will not ask you to provide the specific source of each income
What does not count as accessible income
Loans including personal loans, mortgage, auto loans do not count as accessible income simply because they are borrowed money. So, do not list them when submitting your credit card application.
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Accessible income on the credit card application
Accessible income is only associated with credit card applications. In other words, you’re only asked that when you’re applying for credit cards. When applying for a credit card, you should take advantage of all sources of income and not just the income from your job.
So, you should make sure to gather all of the money you have accessed to that year. Not doing so means that you’re leaving other income that is just as important. As mentioned above, you should not include loans or any borrowed money.
When reporting your accessible income, be as accurate and truthful as possible. While some credit card companies may take your word for it, others may ask you to verify your income. In that case, you will need to provide hard proof like pay stubs, bank statements, statement from your investments accounts, etc…
Why providing accessible income important?
Your credit score is the most important factor credit card companies rely on to decide whether to offer you a credit card. However, your income is also important. The higher your income, the better.
A high income means that you’re able to cover debt that you may accumulate on your credit card. And the higher your chance is that they will approve you. The opposite is true. If you have a low income, some credit card companies may not approve you even if you have a good credit score. So, in order to increase your chance, you should take advantage of accessible income.
The bottom line
The only situation where you will find “accessible income” is on a credit card application. Accessible income is all income you have access to in any given year. That includes much more than your paychecks from your regular jobs.
But it also includes all types of money including checks from child support or alimony, allowances from your parents or grandparents, money in your retirement and investment accounts, etc. So, you should take advantage of it when applying for a credit card.
Speak with the Right Financial Advisor
You can talk to a financial advisor who can review your finances and help you reach your goals (whether it is making more money, paying off debt, investing, buying a house, planning for retirement, saving, etc). Find one who meets your needs with SmartAssetâs free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.
The post What Is “Accessible Income” on a Credit Card Application? appeared first on GrowthRapidly.
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So, youâre looking for a new bank account.
Youâve got several factors to consider â ATM access, interest rates, monthly fees, minimum balances, mobile app reviews, and more.
Another factor to consider: bank promotions. These are cash bonuses you can earn when opening a new checking or savings account with a bank or credit union during the promotion window, meeting any specific criteria and keeping the account open at least long enough to earn the extra cash.
While a savings or checking bonus shouldnât be your top reason to choose a bank, donât rule it out entirely. After all, wouldnât it be nice to fund your shiny new account with some extra cash?
Many banks offer such sign-up bonuses, but often, these bonuses arenât advertised, meaning finding the best bank account bonuses can be tricky. Thatâs why we did some digging for you and found some hefty cash offers.
Best Bank Promotions of January 2021
Weâve researched the best cash bonuses available this month so you donât have to. Below, youâll find our favorite checking and savings account bonuses.
Keep an eye on what it takes to qualify, as well as any limitations. Direct deposit and minimum balances are commonly factors in securing these bonuses. Also pay attention to any monthly fees the account might carry; over time, these could weigh out the actual cash bonus. Otherwise, happy bank bonus shopping!
1. Aspiration Account: $100
Bonus amount: $100
How to get the bonus: To earn your $100, hereâs all you need to do: Open your Aspiration account and deposit at least $10. Aspiration will send you a debit card associated with the account. Use the Aspiration debit card to make at least $1,000 of cumulative transactions within the first 60 days of opening your account. Thereâs no need to spend extra money â just use your card to buy groceries and pay your utilities.
Where to sign up: Enter your email address here, and link your bank account.
When youâll get the bonus: Allow up to 120 calendar days from account opening to receive the bonus; you must have completed the requirements within the first 60 days.
The fine print: With Aspiration, your money is FDIC insured and under a military-grade encryption. The account offers up to 1.00% APY on savings and allows fee-free withdrawals at more than 55,000 ATMs. There are no hidden fees with Aspiration (monthly fees are on a âPay What is Fairâ policy, and that can be zero every month!), and youâll earn cash back when you spend at socially conscious businesses.
No offer expiration.
2. TD Bank Beyond Checking Account: $300
Bonus amount: $300
How to get the bonus: Open a new TD Beyond Checking account. You must receive a total of $2,500 or more via direct deposit within 60 days of opening your new account.
Where to sign up: Visit this TD Checking page. Click the orange âopen accountâ button, and follow the instructions to open a TD Beyond Checking account.
When youâll get the bonus: The $300 bonus will be deposited into your account within 140 days of opening.
The fine print: While this bonus offer sounds too good to be true, it is definitely attainable. However, only open the account if you regularly get sizable monthly deposits or can maintain a healthy minimum balance. Thatâs because the account charges a monthly maintenance fee, but TD will waive the fee if you receive monthly direct deposits of $5,000, keep a minimum daily balance of $2,500 or maintain a combined balance of $25,000 across all your TD bank accounts.
TD fees â and the bankâs capacity for waiving them â extend to ATMs. You wonât face fees for making withdrawals at TDâs own ATMs, and itâll reimburse all fees for withdrawing at non-TD ATMs as long as you keep your daily balance at $2,500 or more.
No offer expiration.
3. TD Bank Convenience Checking Account: $150
Bonus amount: $150
How to get the bonus: Open a new TD Convenience Checking account. You must receive a total of $500 or more via direct deposit within 60 days of opening your new account.
Where to sign up: Visit this TD Checking page. Click the orange âopen accountâ button, and follow the instructions to open a TD Beyond Checking account.
When youâll get the bonus: The $150 bonus will be deposited into your account within 140 days of opening.
The fine print: While this bonus offer sounds too good to be true, it is definitely attainable. Unlike the TD Bank Beyond Checking account, this checking account option is easier for financial beginners to manage. You only need to maintain a minimum balance of $100 to have the monthly maintenance fee waived. And if youâre between the age of 17 and 23, there are no minimum balance requirements and no monthly maintenance fee.
However, the Convenience Checking account does not earn interest; the Beyond Checking account does.
No offer expiration.
4. Bank of America Advantage Banking Account: $100
Bonus amount: $100
How to get the bonus: Open a new Bank of American Advantage Banking account online using the offer code DOC100CIS. You must then set up and receive two qualifying direct deposits, each totaling $250 or more, within 90 days of opening the new account. This offer is only available to new Bank of America personal checking account customers.
Where to sign up: Visit the offer page and use the offer code DOC100CIS when opening the account.
When youâll get the bonus: Bank of America promises to âattemptâ to deposit the bonus into the account within 60 days of satisfying all requirements. However, while the âattemptâ language may seem suspect, we could not find traces of reviews citing unpaid bonuses.
The fine print: A qualifying direct deposit means the direct deposit must be regular monthly income, whether through salary, pension or Social Security benefits. Deposits through wire transfer, apps like Venmo or ATM transfers will not qualify.
Advantage Banking accounts come in three varieties: SafeBalance, Plus and Relationship. All three carry monthly maintenance fees that can be waived:
To waive the SafeBalance monthly maintenance fee of $4.95, enroll in Preferred Rewards.
To waive the Plus monthly maintenance fee of $12, receive a qualifying minimum direct deposit, maintain minimum daily balance requirements or enroll in Preferred Rewards.
To waive the Relationship monthly maintenance fee of $25, maintain the minimum combined balance in all linked accounts or enroll in Preferred Rewards.
Offer expires June 30, 2021.
5. Associated Bank Access Checking Account: Up to $500
Bonus amount: Up to $500
How to get the bonus: Open a new Associated Access Checking account with a minimum deposit of $25 and receive direct deposits totaling at least $500 within 90 days of opening your account. Bonus values will vary based on the sum of the average daily balance of all Associated Bank deposit accounts from days 61 to 90:
Average daily balances of $1,000 to $4,999.99 will earn a $200 bonus.
Average daily balances of $5,000 to $9,999.999 will earn a $300 bonus.
Average daily balances of $10,000 or more will earn a $500 bonus.
Where to sign up: Visit this Associated Bank account sign-up page and select the appropriate account.
When youâll get the bonus: You will receive the bonus as a deposit to your account within 120 days of account opening.
The fine print: Must be a new Associated Access Checking customer. If easy access to a physical branch is important to you, note that the bank has locations in Illinois, Minnesota and Wisconsin, but members have free access to MoneyPass ATMs nationwide. Account must remain open for a minimum of 12 months; if you close it early, Associated Bank reserves the right to deduct the paid out bonus before account closure.
The account requires a minimum deposit of $25, charges $4 a month if you require paper statements and does not earn interest.
Offer expires May 31, 2021.
6. Associated Bank Balanced Checking Account: Up to $500
Bonus amount: Up to $500
How to get the bonus: Open a new Associated Balanced Checking account with a minimum deposit of $25 and receive direct deposits totaling at least $500 within 90 days of opening your account. Bonus values will vary based on the sum of the average daily balance of all Associated Bank deposit accounts from days 61 to 90:
Average daily balances of $1,000 to $4,999.99 will earn a $200 bonus.
Average daily balances of $5,000 to $9,999.999 will earn a $300 bonus.
Average daily balances of $10,000 or more will earn a $500 bonus.
Where to sign up: Visit this Associated Bank account sign-up page and select the appropriate account.
When youâll get the bonus: You will receive the bonus as a deposit to your account within 120 days of account opening.
The fine print: Must be a new Associated Balanced Checking customer. If easy access to a physical branch is important to you, note that the bank has locations in Illinois, Minnesota and Wisconsin, but members have free access to MoneyPass ATMs nationwide. Account must remain open for a minimum of 12 months; if you close it early, Associated Bank reserves the right to deduct the paid out bonus before account closure.
The account requires a minimum deposit of $100 and does not earn interest.
Offer expires May 31, 2021.
7. Associated Bank Choice Checking Account: Up to $500
Bonus amount: Up to $500
How to get the bonus: Open a new Associated Choice Checking account with a minimum deposit of $25 and receive direct deposits totaling at least $500 within 90 days of opening your account. Bonus values will vary based on the sum of the average daily balance of all Associated Bank deposit accounts from days 61 to 90:
Average daily balances of $1,000 to $4,999.99 will earn a $200 bonus.
Average daily balances of $5,000 to $9,999.999 will earn a $300 bonus.
Average daily balances of $10,000 or more will earn a $500 bonus.
Where to sign up: Visit this Associated Bank account sign-up page and select the appropriate account.
When youâll get the bonus: You will receive the bonus as a deposit to your account within 120 days of account opening.
The fine print: Must be a new Associated Choice Checking customer. If easy access to a physical branch is important to you, note that the bank has locations in Illinois, Minnesota and Wisconsin, but members have free access to MoneyPass ATMs nationwide. Account must remain open for a minimum of 12 months; if you close it early, Associated Bank reserves the right to deduct the paid out bonus before account closure.
The account requires a minimum deposit of $100. This account is the only Associated option that earns interest and offers complimentary checks.
Offer expires May 31, 2021.
8. Chase Total Checking Account: $200
Bonus amount: $200
How to get the bonus: Open a new Chase Total Checking account as a new Chase customer. Within 90 days of opening the account, have a qualifying direct deposit made into the account from your employer or the government.
Where to sign up: Visit this page on Chaseâs website to sign up for the account and receive the $200 bonus. You can also open the account at a Chase location near you.
When youâll get the bonus: Chase will deposit the $200 bonus into your account within 10 business days after you meet the criteria. This is the fastest turnaround of any banking bonus included on this list.
The fine print: Direct deposits from person-to-person payments do not qualify for the sake of this bonus. The Total Checking account carries a $12 monthly service fee, but you can have it waived if you receive direct deposits each month totaling $500 or more, keep a minimum balance in the account at the start of each day of at least $1,500, or keep a minimum balance across all your Chase accounts at the start of each day of at least $5,000.
If you close the account within six months of opening, Chase will deduct the bonus amount at closing.
Offer expires April 14, 2021.
9. Chase Savings Account: $150
Bonus amount: $150
How to get the bonus: Open a new Chase Savings account as a new Chase customer. Within 20 days of opening the account, deposit at least $10,000 in new money and then maintain a balance of at least $10,000 for 90 days.
Where to sign up: Visit this page on Chaseâs website to sign up for the account and receive the $150 bonus. You can also open the account at a Chase location near you.
When youâll get the bonus: Chase will deposit the $150 bonus into your account within 10 business days after you meet the criteria. This is the fastest turnaround of any banking bonus included on this list.
The fine print: The new money deposited into the account cannot be $10,000 that you already hold in another Chase account. The Chase Savings account carries a $5 monthly service fee, but you can have it waived if you keep a daily balance of at least $300 at the start of each day, have $25 or more in Autosave, have an associated Chase College Checking account for Overdraft Protection, have an account owner who is 18 or younger or link one of several Chase checking accounts.
If you close the account within six months of opening, Chase will deduct the bonus amount at closing.
Offer expires April 14, 2021.
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10. Citibank Basic Banking Package: $200
Bonus amount: $200
How to get the bonus: Open a new checking account in the Basic Banking Package. Within 30 days, deposit $5,000 in funds that are new to Citibank. Maintain a minimum balance of $5,000 for 60 days in a row.
Where to sign up: Click âapply nowâ for the Basic Banking Package on this page to have the bonus applied.
When youâll get the bonus: Citibank pays out the cash bonus into your account within 90 days of meeting the criteria.
The fine print: The deposited funds must be new to Citibank, meaning they canât come from another Citibank account. Citibank charges a $12 monthly service fee, but you can have it waived in one of two ways:
Make a qualifying direct deposit and a qualifying bill payment during the statement period.
Maintained a combined average monthly balance of $1,500 in all linked accounts.
Citibank also waives the fee if you are 62 or older. Sometimes, it pays to be living in those golden years.
Rates and promotions may vary by location; verify your promotion details by entering your ZIP code on the site.
Offer expires January 5, 2021.
11. Citibank Account Package: $400
Bonus amount: $400
How to get the bonus: Open a new checking account in the Account Package. Within 30 days, deposit $15,000 in funds that are new to Citibank. Maintain a minimum balance of $15,000 for 60 days in a row.
Where to sign up: Click âapply nowâ for the Account Package on this page to have the bonus applied.
When youâll get the bonus: Citibank pays out the cash bonus into your account within 90 days of meeting the criteria.
The fine print: The deposited funds must be new to Citibank, meaning they canât come from another Citibank account. A savings account is required with this package. Citibank charges a $25 monthly service fee, but you can have it waived if you maintain a combined monthly average of $10,000 or more in all linked accounts.
Rates and promotions may vary by location; verify your promotion details by entering your ZIP code on the site.
Offer expires January 5, 2021.
12. Citibank Priority Account Package: $700
Bonus amount: $700
How to get the bonus: Open a new checking account in the Priority Account Package. Within 30 days, deposit $50,000 in funds that are new to Citibank. Maintain a minimum balance of $50,000 for 60 days in a row.
Where to sign up: Click âapply nowâ for the Account Package on this page to have the bonus applied.
When youâll get the bonus: Citibank pays out the cash bonus into your account within 90 days of meeting the criteria.
The fine print: The deposited funds must be new to Citibank, meaning they canât come from another Citibank account. A savings account is required with this package. Citibank charges a $30 monthly service fee, but you can have it waived if you maintain a combined monthly average of $50,000 or more in all linked accounts.
Rates and promotions may vary by location; verify your promotion details by entering your ZIP code on the site.
Offer expires January 5, 2021.
13. HSBC Premier Checking Account: Up to $600
Bonus amount: 3% cash bonus up to $600
How to get the bonus: Open a new HSBC Premier Checking account, then set up qualifying direct deposits into the account once per calendar month for six consecutive months. You will then receive a 3% cash bonus based on the amount of your qualifying direct deposits, with a max of $100 a month for six months.
Where to sign up: Use this offer page to sign up for the offer. Click âapply nowâ on the HSBC Premier Checking account.
When youâll get the bonus: You will receive your 3% cash bonus in your account approximately eight weeks after completing each monthâs qualifying activities.
The fine print: To get the bonus, you cannot have had an HSBC account from September 30, 2017 through September 30, 2020. You must also have been a U.S. resident for at least two years and must be 18 or older.
HSBC applies a monthly maintenance fee of $50 unless you maintain a balance of $75,000 across your accounts, receive monthly recurring deposits of $5,000 or more or have an HSBC US residential loan with an original loan amount of at least $500,000.
Offer expires January 7, 2021.
14. HSBC Advance Checking Account: Up to $240
Bonus amount: 3% cash bonus up to $240
How to get the bonus: Open a new HSBC Advance Checking account, then set up qualifying direct deposits into the account once per calendar months for six consecutive months. You will then receive a 3% cash bonus based on the amount of your qualifying direct deposits, with a max of $40 a month for six months.
Where to sign up: Use this offer page to sign up for the offer. Click âapply nowâ on the HSBC Advance Checking account.
When youâll get the bonus: You will receive your 3% cash bonus in your account approximately eight weeks after completing each monthâs qualifying activities.
The fine print: To get the bonus, you cannot have had an HSBC account from September 30, 2017 through September 30, 2020. You must also have been a U.S. resident for at least two years and must be 18 or older.
HSBC applies a monthly maintenance fee of $50 unless you maintain a balance of $75,000 across your accounts, receive monthly recurring deposits of $5,000 or more or have an HSBC US residential loan with an original loan amount of at least $500,000.
Offer expires January 7, 2021.
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How to Search for the Best Bank Offers and Promotions on Your Own
In the spirit of not listing approximately 193 bank promotions, we kept this list short and sweet â only highlighting the best bank promotions for checking and savings accounts.
But maybe youâre interested in banking with your local credit union, opening up a small business checking account or finding the perfect investment account? There are often bonus offers attached to these account openings, too.
The banks donât always make finding these promotions easy, so here are a few tips to help you get your hands on that cash bonus.
Check the bankâs website first. Sometimes itâll advertise its promotions right there. This is rare, but itâs worth a quick check â it could save you a ton of time.
If you donât have any luck, reach out to the bankâs customer service team through phone, email or chat. Let them know youâre shopping for a new account, and youâd like to know if itâs running any promotions. More often than not, the nice representative will send you a special link.
If this doesnât work, turn to your trusty friend Google. Look for the best bank promotions. Because youâll likely dig up some offers from third-party sites, youâll want to take a few minutes to make sure the offer:
Hasnât expired.
Is legitimate. Make sure the bank is FDIC-insured and has a positive Better Business Bureau rating. You can even read some online reviews.
Doesnât require outrageous qualifying activities. For example, it might not be realistic for you to maintain an average daily balance of $50,000 and carry out 60 qualifying debit card purchases before the end of your first 30-day statement cycle.
You can also reach out to your family, friends and social network to crowdsource bank recommendations. Sometimes banks have impressive referral programs, so both you and your friend could benefit from you signing up.
Overall, be smart. Donât let that promise of an account bonus blind you. Also, read the fine print so you donât get stuck paying high monthly fees, interest rates or closing penalties.
Will Opening a Bank Account Hurt Your Credit Score?
If youâre worried that opening a new bank account or closing an old one will hurt your credit score, donât be. Your bank accounts are not included in your credit report and therefore have no effect on your score, unless you have an outstanding negative balance that the bank turns over to a collection agency.
Sometimes when you go to open a new bank account, banks will do a soft credit check. However, that wonât affect your score.
Now, go enjoy your fresh new bank account and that nice cash bonus youâre about to pocket. Add it to your savings account, put it toward student loan payments or, heck, treat yourself!
Editorial Disclosure: This content is not provided by the bank advertiser. Opinions expressed here are the authorâs alone, not those of the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
While women have certainly made strides in many areas of the business world, when it comes to entrepreneurship, a significant gender gap remains. Around 10.2% of women between ages 18 and 64 are new entrepreneurs, a rate around three-quarters that of men, according to the 2018-2019 Womenâs Report from The Global Entrepreneurship Monitor. Though thereâs clearly still room for growth, women who are starting their own businesses have the opportunity to take ownership of their long-term financial goals, including how much they sock away in a savings account. But not all locales are equally conducive to their success. As such, SmartAsset sought to uncover which metro areas are best for women entrepreneurs.
To do this, we compared 50 of the largest metro areas across the following metrics: number of female-owned businesses, percentage of businesses owned by women, women-owned businesses as a percentage of businesses with greater than 500 employees, new businesses as a percentage of total businesses, new business applications in 2020 relative to previous years, percentage of businesses that had profits or broke even, startup survival rate, women-to-men pay ratio, 2019 female unemployment rate and September 2020 unemployment rate. For details on our data sources and how we put all the information together to create our final rankings, check out the Data and Methodology section below.
This is SmartAssetâs second study on the best places for women entrepreneurs. Read the 2019 version here.
Key Findings
The percentage of women-owned businesses is paltry, but especially so for large companies. Five metros in our top 10 â Los Angeles, Atlanta, Denver, Seattle and Miami â rank in the top 10 for our metric tracking the percentage of businesses owned by women, with Atlanta leading that pack at 21.92%. Though women-owned businesses only constitute about a fifth of all business at the top, the numbers are even more meager for women-owned businesses with greater than 500 employees: in New York, which ranks first for this metric, women own only 3.56% of all businesses of this size.
Despite the pandemic, new businesses are still being formed. While the COVID-19 pandemic has had major impacts on the fortunes of many businesses, entrepreneurs in the U.S. are still founding new companies. Data from the Census Bureau shows that the number of new business applications in 2020 thus far is up 5% compared to the average over the past few years, indicating that amid this crisis, increasingly more entrepreneurs still want to form new firms.
1. Minneapolis-St. Paul-Bloomington, MN-WI
For the second consecutive year, the Twin Cities metro area of Minnesota-Wisconsin is the best place in the country for women entrepreneurs. The unemployment rate for women in this area was 1.8% in 2019, the lowest rate for this metric in the study. Furthermore, 84.49% of businesses in the Minneapolis area had a profit or broke even in 2017, the second-highest percentage across all metro areas we analyzed. Women-owned businesses make up a little less than 3% of all businesses with greater than 500 employees in this metro area. While relatively low, that figure is actually the eighth-highest percentage for this metric in the study.
2. Los Angeles-Long Beach-Anaheim, CA
The Los Angeles-Long Beach-Anaheim, California metro area, which includes parts of Orange County, is the No. 2 place in the nation for women entrepreneurs. Due in part to its large population, Los Angeles area has 64,632 women-owned businesses overall, the second-highest number for this metric in the study (behind only the New York City metro area). Los Angeles also ranks ninth out of 50 in terms of the percentage of businesses that are owned by women, at 20.99%, and third out of 50 in terms of women-owned businesses as a percentage of businesses with greater than 500 employees, at 3.20%.
3. Atlanta-Sandy Springs-Alpharetta, GA
There are also a substantial number of women-owned businesses in the Atlanta metro area. The raw total is 24,130, sixth-highest in the study, and that represents 21.92% of all businesses, the fourth-highest in the study. Women in the Atlanta area earn 76.79% as much as men, the 12th-best rate for this metric across all 50 metro areas we analyzed. The metro area also benefits from the fact that Georgia ranks first for the number of new state-wide business applications in 2020 relative to the previous five years, at 142.77%.
4. Denver-Aurora-Lakewood, CO
New businesses represent 10.22% of all establishments in the Denver-Aurora-Lakewood, Colorado metro area, the third-highest percentage for this metric in our study. A lot of the establishments in the area at least break even, too â 83.90% to be specific, the seventh-highest percentage we observed for this metric in the study. The Denver area also ranks seventh-best for the percentage of businesses that are owned by women, 21.78%.
5. Sacramento-Roseville-Folsom, CA
Sacramento is the capital of California, and the metro area around the city takes the No. 5 spot in terms of the best places to be a woman entrepreneur. The Sacramento-Roseville-Folsom metropolitan area saw 84.70% of businesses either turn a profit or break even in 2017, the highest percentage we observed. The startup survival rate in California is 81.33%, placing the Sacramento area fifth in that metric. New businesses in the area represent 9.10% of all businesses, good for 12th overall.
6. Tampa-St. Petersburg-Clearwater, FL
Women in the Tampa-St. Petersburg-Clearwater, Florida metro area earn 79.68% as much as men, the sixth-best ratio of the metro areas included in this study. Tampa also benefits from the fact that Florida fares well in terms of new businesses created in 2020 (a state-wide metric): The total new business applications filed this year is 113.42% of the average filed over the past five years, the ninth-highest rate. Tampa also finishes in 11th place out of 50 for both unemployment metrics we measured. The unemployment rate for women in 2019 was 2.4%, and the overall unemployment rate in September 2020 was 6.1%.
7. Seattle-Tacoma-Bellevue, WA
There are 17,724 businesses owned by women in Seattle-Tacoma-Bellevue, Washington metro area, ranking 10th of 50. That figure represents 21.25% of all businesses in the Seattle metro area, the eighth-highest percentage in the study. The pay gap in Seattle, though, remains large. Women earn just 68.21% as much as men there, placing the area 46th out of 50 for this metric.
8. Charlotte-Concord-Gastonia, NC-SC
The Charlotte-Concord-Gastonia, North Carolina-South Carolina metro area comes in at No. 8. Women-owned businesses make up 3.26% of all businesses with greater than 500 employees. The only other metric for which the Charlotte area finishes in the top 10 is the percentage of businesses that broke even or turned a profit, coming in ninth at 83.14%. The area has just 8,581 female-owned businesses, putting it near the middle of this list at 24th out of 50.
9. Miami-Fort Lauderdale-Pompano Beach, FL
In the Miami-Fort Lauderdale-Pompano Beach, Florida metro area, there are 36,496 businesses owned by women, representing 21.88% of all the businesses in the metro area. That places Miami in fourth and fifth in those two metrics, respectively. The Miami area hasnât been doing well in terms of employment lately, though. The unemployment rate in September 2020 was 10.1%, in the bottom five of this study. That said, the metro area ranks fifth out of 50 for women-owned businesses as a percentage of businesses with greater than 500 employees (3.17%). Furthermore, it ranks ninth overall for the statewide metric of new business applications in 2020 relative to previous years (113.42%) and third overall for women-to-men pay ratio (81.19%).
10. Dallas-Fort Worth-Arlington, TX
The final area in the top 10 of this study is Dallas-Fort-Worth-Arlington, Texas. There are 24,383 businesses in the area owned by women, the fifth-highest rate for this metric in the study. Of the businesses in the metro area with more than 500 employees, 3.19% of them are owned by women, which is the fourth-highest percentage for this metric across the 50 areas we analyzed. A lot of businesses in the area donât fare as well as they would probably like, though: Only 79.42% break even or turn a profit, 44th out of 50 in the study. However, the metro area ranks sixth overall for the statewide metric of new businesses as a percentage of total businesses, at 9.54%.
Data and Methodology
To find the best metro areas for women to be entrepreneurs we compared 50 of the largest metropolitan areas in the country across a number of metrics. Though weâve done this study in previous years, we added two metrics this year to give more timeliness to our results: new business applications in 2020 compared with the average of the previous five years, and the unemployment rate in September 2020. Here are all the metrics we used:
Number of women-owned businesses. Data is for businesses with paid employees and comes from the Census Bureauâs 2018 Annual Business Survey.
Percentage of women-owned businesses. Data is for businesses with paid employees and comes from the Census Bureauâs 2018 Annual Business Survey.
Percentage of businesses with at least 500 paid employees that are women owned. Data comes from the Census Bureauâs 2018 Annual Business Survey.
New businesses as a percentage of total businesses. This includes businesses established in 2015, 2016 and 2017 as a percentage of all businesses. Data is for businesses with paid employees and comes from the Census Bureauâs 2018 Annual Business Survey.
New business applications in 2020 relative to the 2015-2019 average by state. Figures for new business applications are not seasonally adjusted and include only those with planned wages for workers. We compared the number of new business applications from Week 1 of 2020 through Week 42 of 2020 (i.e. December 30, 2019 through October 24, 2020) to the average number of applications filed during those first 43 weeks of the year for the five-year period spanning from 2015 through 2019. Data comes from the Census Bureauâs Business Formation Statistics.
Percentage of all businesses that had profits or broke even. Data is for businesses with paid employees and comes from the Census Bureauâs 2017 Annual Business Survey.
Startup early survival rate (by state). This is the percentage of startups that are still active after one year. Data comes from the Kauffman Indicators of Entrepreneurship report and is for 2019.
Women-to-men pay ratio. Data comes from the Census Bureauâs 1-year American Community Survey and is for 2019. It accounts for both part-time and full-time workers.
Unemployment rate for women. Data comes from the Census Bureauâs 1-year American Community Survey and is for 2019.
Overall unemployment rate for September 2020. Data comes from the Bureau of Labor Statistics.
First, we ranked each metro area in every metric. We then found the average ranking for each metro area, giving a full weight to all metrics except for the two new business metrics and the two unemployment metrics, all of which received a half-weight. We then came to a final ranking based on these averages, with the top metro area receiving an index score of 100 and the bottom metro area receiving an index score of 0.
Tips for Entrepreneurs
Invest in professional advice. If you are looking for help with your money or your business, consider finding a financial advisor to help you. Finding a financial advisor doesnât have to be hard. SmartAssetâs free tool connects you with financial advisors in your area in five minutes. If youâre ready to be matched with local advisors, get started now.
Taxes donât always have to be taxing. Knowing your tax burden is key to a successful financial life and running your business efficiently. Use SmartAssetâs free tax calculator to see what you might owe.
Nail down your elevator pitch. Want to make sure you are a successful entrepreneur? Make sure you know what your product is and what your audience is before you even actually start the business.
Questions about our study? Contact press@smartasset.com.
CIT Bank is an online only-bank, so, unfortunately, they do not have any physical locations.
However, if you’re looking to know how to open a CIT Bank account beyond wondering if they have a location what are their current products and offers, then you have come to the right place.
*TOP CIT BANK PROMOTIONS*
PROMOTIONAL LINK
OFFER
REVIEW
CIT Bank Money Market
1.00% APY
Review
CIT Bank Savings Builder
0.95% APY
Review
CIT Bank CDs
0.75% APY 1 Year CD Term
Review
CIT Bank No Penalty CD
0.75% APY
Review
CIT Bank Locations
CIT Bank has one office. It’s their headquarters located in southern California in Pasadena.
The address is: 75 North Fair Oaks Ave, Pasadena, California 91103. However, you cannot just walk in there to do business, opening an account, etc.
There is also no ATMs. Everything is done online.
With their “echecking” account, CIT Bank will provide you with a card where you can use it at another bank’s ATM.
However, CIT bank does not charge you any ATM fee. And if the bank charges you a fee, CIT Bank will reimburse you up to $15 every month.
CIT Bank’s Products & Current Promotions
While CIT Bank has no physical locations, it’s a great bank for those who are willing to have their savings online.
So, if you’re looking to have access to branches, then CIT Bank is not for you.
CIT Bank offers high yield savings accounts, money market accounts and CD accounts. They also have an “echecking” account.Â
CIT Savings Builder – Earn 0.85% APY. Here’s how it works: Make at least a $100 minimum deposit every month. Or Maintain a minimum balance of $25k. Member FDIC. Click Here to Learn More.
They offer competitive APYs, especially on their Savings Builder account, which is almost 20 times more than what a typical savings account would offer.
The money market account is also very competitive, but it does not offer checking-writing privileges or a debit card.
Their CDs also provide higher yields, offering both a fixed and variable-rate, including a no-penalty CD.
CIT Bank Savings Builder
Because CIT Bank has no locations, CIT Bank Savings Builder accounts are offered online, where you can earn a competitively high yield.
The CIT Bank Savings Builder will allow you to earn 0.85% APY, but only if you make at least one monthly deposit of $100 or more.
Or, if you keep a balance of at least $25,000. Interest in this high-yield savings account compounds daily to boost your earning.
Click here to learn more about CIT Bankâs Savings Builder.
CIT Bank Money Market Account
The CIT Bank money market account is one of the best ones out there. Currently, the money market account offers a 1.0% APY.
This is very competitive comparing to other MMAs. Moreover, CIT Bankâs MMA has a required account minimum of only $100.
Open a CIT Bank Money Market Account.
CIT Bank Certificate of Deposits (CDs)
CIT Bank has several terms CDs, which range from 6 months to 5 years.
There is also a no penalty 11-month term, where customers can withdraw money with no penalty.
CIT Bank also offers jumbo CDs, ranging from two to five years. You can open a term CD, including the no-penalty CD, with a minimum of $1,000.
The Jumbo CDs require a minimum of $100,000.
Click here to learn more about CIT Bank CDs.
Contacting CIT Bank
Given that CIT Bank has no locations, the best way to speak with a representative is by telephone or online.
For online, simply go through their homepage.
By telephone, call 1) 855-462-2652 (within U.S.) and 626-535-8964 (outside U.S.).
Customer service is available from Monday through Friday from 9:00 a.m. to 9:00 p.m. ET; on Saturday from 10:00 a.m. to 6:00 pm ET.
They closed on Sunday.
Advantages and disadvantages of CIT Bank Savings Accounts
Advantages:
No monthly fees on deposit accounts;
a minimum deposit requirement of $100;
Refunds ATM fees â because the bank does not have ATMs, it does not charge customers who use another bankâs ATMs. And if there is a fee, CIT will refund you up to $15 per month.
Disadvantages:
No CIT Bank physical locations or ATM;
No 24/7 customer support â as with all high yield savings accounts, most inquiries are handled online. While live telephone is available, hours are limited.
How to open a CIT Bank Savings account?
As mentioned above, CIT Bank has no physical locations. So to open an account, simply go online through the CIT Bank homepage, and create the account there.
Youâll need to provide your name, address, phone number, and ID. Youâll also need to provide your social security number.
Note that CIT does not have any branches. Everything must be done online.
If youâre opening a CIT Bank Builder Savings account, you will need to make an initial minimum deposit of $100.
Bottom Line
CIT Bank has no locations. So, everything is done online. CIT Bank offers competitive rates on its products. Its Saving Builder account is one of the most popular accounts out there, offering a 0.85% APY. This yield is 15 to 20 times higher than what a regular savings account offer.
Speak with the Right Financial Advisor
If you have questions beyond CIT Bank locations, you can talk to a financial advisor who can review your finances and help you reach your goals (whether it is making more money, paying off debt, investing, buying a house, planning for retirement, saving, etc). Find one who meets your needs with SmartAssetâs free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.
*TOP CIT BANK PROMOTIONS*
PROMOTIONAL LINK
OFFER
REVIEW
CIT Bank Money Market
1.00% APY
Review
CIT Bank Savings Builder
0.95% APY
Review
CIT Bank CDs
0.75% APY 1 Year CD Term
Review
CIT Bank No Penalty CD
0.75% APY
Review
The post CIT Bank Locations? Where Are They? appeared first on GrowthRapidly.
