This is how much more Fort Worth workers earn with a graduate degree, study finds

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One of the biggest decisions new college graduates face after earning their bachelor's is whether to continue their education with a graduate degree, or enter the professional world without one. The Education Data Initiative reports graduate degrees can cost between $30,000 and $120,000 after a bachelor's, so it's important to consider the financial benefits depending on an individual's chosen field of study.

In Dallas-Fort Worth-Arlington, graduate degree holders earn $16,859 more than they would with just a bachelor's degree, according to a new study by SmartAsset.

The average annual income of a Metroplex resident with a bachelor's degree is $65,694, the study says. Those with graduate degrees make $82,553 per year, SmartAsset says.

A graduate degree holder's salary in Dallas-Fort Worth is much higher than the national average of $72,000 per year. The study further determined that (nationally) a graduate degree nets workers $16,000 more per year than those with a bachelor's.

Those with advanced degrees from one Fort Worth graduate school do particularly well.

"Amid the high expenses of education and ever-changing job markets, it’s important to weigh the opportunity costs of a graduate degree with the additional earning potential," the study's author wrote. "A graduate or professional degree nets an extra $484,000 over a career, on average... This assumes a 30 year career in a medium or large metro area."

SmartAsset's study used 2021 U.S. Census Bureau 1-Year ACS S1501 data to determine the income for individuals aged 25 and older with varying professional degrees in 281 of the biggest metropolitan areas.

The Texas city where a graduate degree nets a resident the most amount of money is Midland, with a massive $24,394 difference between graduate degree and bachelor's holders. Average graduate degree pay in the West Texas city is $90,559 versus $66,165 for an individual with a bachelor's degree.

The metro that landed at the top of the national ranks is San Jose-Sunnyvale-Santa Clara, California. A bachelor's degree holder makes an average salary of $102,214 in the area, whereas a graduate degree holder earns more than $48,000 more, totaling $150,281.

The full report and its methodology can be found on smartasset.com.

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Magnetic Texas attracts ranking as No. 2 state for wealthy new residents

rich population migration

Not only has Texas' population exploded with new residents in recent years, but it's been a hot spot for high-income households on the move. A new report says Texas has added more wealthy new residents than any other state but Florida.

According to SmartAsset's 2023 study "Where High Earners Are Moving," 22,751 households who moved into Texas between 2020 and 2021 filed tax returns with a minimum adjusted gross income of $200,000 (the figure defined as "high earner" in the report). In that same time frame, 13,743 high-earning taxpayers moved out of state.

This resulted in Texas seeing the second-highest influx of wealthy newcomers in the U.S., totaling 9,008.

It's worth noting that 2020-2021 were the years most impacted by the pandemic and its economic, health, and lifestyle after-effects.

"Despite cost of living challenges, the number of high-earning American households continues to grow," the report's author said. "In 2021, 8.68 million tax returns indicated annual earnings exceeding $200,000 – up from 8.57 million returns just a year earlier. The migration of these high-earning households can have significant effects on a state’s tax base and finances."

Texas hung on to its No. 2 rank for the second consecutive year from SmartAsset's 2022 report, which accounted for the tax year between 2019 and 2020. At the time, the state had an inflow of more than 18,400 high-earning households, and an outflow of over 13,000.

Florida was the only state to outrank Texas for two years in a row with the highest migration of wealthy new taxpayers. Florida's 2023 net migration amounted to 27,567 households that earn over $200,000 a year.

Meanwhile, California and New York lost the most high-earning households in 2021.

"While these states had the largest net outflows of high earners in 2021, they still maintain some of the nation’s highest percentages of high-earning households," the report said. "In fact, at least 7.2 percent of the tax base in each of these states earn $200,000 or more per year."

With its lower housing, rent, and living costs - and no state income tax - Texas continues to attract new residents from out of state. All indications are that the population of Texas, and Dallas-Fort Worth, will continue to swell.

The top 10 states with the highest net migration of high-earning households are:

No. 1 – Florida (27,567)
No. 2 – Texas (9,008)
No. 3 – North Carolina (5,446)
No. 4 – Arizona (4,563)
No. 5 – South Carolina (4,510)
No. 6 – Tennessee (3,917)
No. 7 – Nevada (2,785)
No. 8 – Idaho (2,315)
No. 9 – Colorado (2,052)
No. 10 – Utah (1,752)

SmartAsset determined their rankings using IRS data from 2020 to 2021 from tax-filers reporting an adjusted gross income of $200,000 or more and moved in or out of a state.

The full report can be found on smartasset.com.

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Here's what it takes to be in the top 1 percent of earners in Texas

six-figures of wealth

It's always been said that the richer get richer as the years go on, and those who hold the most wealth are certainly making that phrase a reality in America. More than a third of the overall wealth in the United States is held by the top one percent of earners, who make about $652,657 a year.

But how much money does a Texan need to make to secure a place in the top one percent of earners in the state? A new study from SmartAsset, published July 17, determined that the answer is not too far off from the national amount, but is still well into the six-digit figure range: $631,849.

SmartAsset looked into what it takes for earners in every state to be considered in the top one percent, and Texas has the No. 14 highest threshold of income needed for the exclusive classification.

Texas' latest ranking is a four-place drop from an earlier SmartAsset report, from February 2023, that put Texas' one percent threshold at $641,400. SmartAsset typically publishes this report annually, but released an all-new report in July when new data from the IRS became available.

The new report further revealed that Southern states have the lowest income thresholds, with six out of the bottom 10 states being located in the Southeast.

"While Northeastern states like Massachusetts and New Jersey have some of the highest income thresholds for the one percent, it takes considerably less income to be considered in the top one percent in many Southern states," the study says.

However, holding on to that much wealth isn't without financial responsibility. Texans who are in that top one percent category have a tax rate of 25.83 percent.

The top 10 states with the highest thresholds to be considered in the top one percent of earners in the U.S. are:

No. 1 – Connecticut ($952,902)
No. 2 – Massachusetts ($903,401)
No. 3 – California ($844,266)
No. 4 – New Jersey ($817,346)
No. 5 – Washington ($804,853)
No. 6 – New York ($776,662)
No. 7 – Colorado ($709,092)
No. 8 – Florida ($694,987)
No. 9 – Illinois ($660,810)
No. 10 – New Hampshire ($659,037)

To determine the different income thresholds for every state, SmartAsset used 2020 data from the IRS and adjusted the numbers to be accurate for May 2023 using the U.S. city average series from the Bureau of Labor Statistics' Consumer Price Index for All Urban Consumers.

The full report can be found on smartasset.com.

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This is how much money you need to live comfortably in Dallas-Fort Worth, new study finds

Money wise

Inflation is high, interest rates are skyrocketing, and honestly, just existing is expensive. Whether it be the price of eggs or a new car, trying to have a financially stable life in one of America’s largest metropolitan areas is becoming more and more difficult.

So, how much money do you need to make to live comfortably in Dallas-Fort Worth? Approximately $64,742 a year post-tax, according to a new study by financial tech company SmartAsset.

That’s an $11,000-plus increase from their previous annual report, where Dallas-Fort Worth residents only needed to make $53,680 a year post-tax to live comfortably in the area.

Their experts collected data from MIT’s Living Wage Calculator to determine the cost of living for a childless individual in the 25 largest American metro areas. They also used the 50/30/20 budgeting strategy to figure out what a “comfortable lifestyle” meant for the purpose of their study: 50 percent of their income goes to a person’s needs/living expenses, 30 percent to a person’s wants, and 20 percent for their savings or paying down debt.

To live a financially stable life, a childless Dallas-Fort Worth individual would need to spend $32,371 of their salary on their living expenses, $19,423 for discretionary expenses, and put $12,948 toward their savings or debt payments.

Considering rent has increased up to 15 percent since 2022 in some Dallas suburbs, that might be a tighter squeeze for some. And if you aren't a man, the Dallas-Fort Worth gender pay gap also plays a factor.

Susannah Snider, SmartAsset’s managing editor of financial education, says in the study that budgeting should be the “bedrock of many people’s financial plans.”

“And it’s especially essential to understand and track your spending when the cost of everyday items is rising,” said Snider. “Being able to stick to a 50/30/20 budget means you have enough to fund short- and long-term goals while paying for essential living expenses.”

To live comfortably in the largest metro areas in the United States, on average, an individual would need to make $68,499 a year after taxes, which is a 20 percent increase from 2022.

In other Texas metro areas, like Houston and San Antonio, a person would need to make $62,260 and $59,270 a year post-tax.

The full study and its methodology can be found on smartasset.com.

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Dallas-Fort Worth stalled by some of the worst commutes in U.S., new report says

Road warriors

When it comes to braking in traffic, Dallas-Fort Worth can't catch a break. Workers here have some of the worst daily commutes in the nation, a new SmartAsset report says.

The road warriors in Garland have it particularly tough (as anyone who's driven I-635 through northeast Dallas and into the suburbs lately can attest). Garland has the third worst commute in the country, the report says. It's joined by Dallas, Arlington, Fort Worth, Irving, and Plano in the top 100 "worst."

The financial services website compared data from the 100 largest U.S. cities and ranked the worst commutes by six factors: percentage of workers who commute; average travel time to work; transportation as a percentage of income; percentage of workers with a commute longer than 60 minutes; and five-year change in both travel time and percentage of workers with long commutes.

Garland ranked No. 3 worst, only out-trafficked by two California cities - Stockton and Bakersfield - which came in first and second, respectively.

Of the Dallas suburb, SmartAsset writes, "The majority of workers in Garland, Texas, are commuters (86.1%). And they average the seventh-highest commute time (roughly 30 minutes vs. the national average of 25.6 minutes). About 9.1% of commuters, however, experience drives over one hour (12th-highest). Overall, the average commute time has increased by 2.37% between 2016 and 2021."

Texas' two biggest cities, Houston and Dallas, (somehow!) tied for No. 23. The average commute time in Dallas is 25.7 minutes; in Houston, it's 26.1 minutes. But in Dallas, more workers (6.5%) have a "severe" commute of 60 minutes or more; in Houston, it's 5.8%. Houstonians spend a tiny bit more of their income on transportation costs than Dallas drivers do (9.9% vs. 9%).

Notably, Dallas and Houston ranked worse than notoriously traffic-jammed Los Angeles, which came in at No. 25.

Also on the top-100 list are the North Texas cities of Arlington (No. 33), Fort Worth (No. 47), Irving (No. 50), and Plano (No. 52).

Average commute times are nearly identical in Arlington and Fort Worth - 26.1 minutes and 25.9 minutes, respectively. In Arlington, 5.4% of workers have a "severe" commute; in Fort Worth, 6.3% of workers do. In both cities, residents spend 9% of income on transportation costs.

In case you're now thinking, "I should really try out public transportation, here are some handy links.

Elsewhere around the state, city rankings were:

San Antonio, No. 55
Lubbock, No. 61
Austin, No. 64
Corpus Christi, No. 78
Laredo, No. 81

Interestingly, SmartAsset notes, despite the rise in remote work the past few years, the average commute time went down by only one minute in five years. The national average decreased from 26.6 minutes in 2016 to 25.6 minutes in 2021, they say, while the percentage of remote workers has tripled in about half the time.

"Workers in 2023 will average almost 222 hours (or a little over nine days) driving to and from work," the report says. "And these hours spent in transit cost commuters more than just their time. The price of fuel, public transit passes and other commuter-related costs can add up quickly."

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'Yellowstone' stars to greet fans at Fort Worth Stock Show & Rodeo

Yellowstone news

Yellowstone fans, get your comfy shoes ready - there'll be a long line for this one. Cole Hauser a.k.a. "Rip Wheeler" on Yellowstone, and Taylor Sheridan, the show's co-creator, executive producer, and director of the series, will meet fans and sign autographs at the Fort Worth Stock Show & Rodeo.

The event will take place from 4:30-6:30 pm only on Friday, February 3. Location is the 6666 Ranch booth near the south end of Aisle 700 in the Amon G. Carter, Jr. Exhibits Hall.

According to a February 2 announcement from FWSSR, "fans will have the opportunity to snag an autograph as well as purchase some distinctive Yellowstone and 6666 Ranch merchandise while also enjoying all the features the Stock Show offers."

The event is free to attend (with paid Stock Show admission) and open to the public.

It's the second year in a row for Hauser to appear at FWSSR; in 2022, he and fellow cast mates drew huge crowds.

Sheridan, a Paschal High School graduate, is no stranger to Fort Worth; he lives in a ranch near Weatherford and filmed 1883, the prequel to Yellowstone, in and around Fort Worth. Currently, another spinoff, 1883: The Bass Reeves Story, is filming in North Texas.

The Fort Worth Stock Show & Rodeo is winding up its 2023 run on Saturday, February 4.

Denver pizzeria to debut in Fort Worth with New York pies and craft beer

Pizza News

A pizza concept from Colorado is coming to Fort Worth. Called Parry's Pizzeria & Bar, it's a Denver-based restaurant group known for its New York-style pizza and commitment to craft beer, and will open its first Fort Worth location at the Victory Shops at Heritage development at 2801 Heritage Trace Pkwy.

It's going into the former Rachel's Mediterranean Grill, the New York-based chain that opened there in 2022 and which closed in July.

According to a Parry's spokesperson, the pizzeria will open in spring 2024.

Parry's was founded in 2007 outside Denver by David Parry, a native of New York who wanted to bring a New York-style pizzeria to the Denver suburbs. They currently have 21 locations in Colorado, Texas, and Arizona, with additional coming-soons slated for Las Vegas and Houston.

Though Parry's started out as a small New York-style pizza joint with wings and beer, their menu has expanded to include sandwiches, appetizers, and more. Fans love their wings and fried dough.

Dishes at every location differ but might include curly fries, fried mac and cheese bites, calamari, and bruschetta.

Pizzas include familiar combos with a twist such as pepperoni with jalapeños and cream cheese; a white pie with steak, peppers, mushrooms, onions, and garlic; buffalo chicken with blue cheese crumbles; and a "loaded potato" pizza with potato, bacon, cheddar, and green onions.

There are calzones, wraps, and sandwiches including chicken parm, cheesesteak, meatball sub, sweet Italian sausage, fried chicken, and a huevos rancheros steak sandwich with green chili and fried eggs.

Desserts include fried dough, cheesecake, churros, and cannoli.

They offer a daily special as well as lunch deals with combos such as a personal size pizza or sandwich with choice of wings or a salad. A happy-hour-style deal from 3-6 pm features wings, pizza, and other items for $10.49.

Parry's is also heavily into craft beer, with lots of fun beer events. At their location in The Colony, which opened in 2019, they feature more than 75 taps, including numerous local Texas brews. They also have a location in McKinney, plus two in San Antonio and two more in South Texas.

These are the 8 best food and drink events in Fort Worth this week

This Week in Gluttony

Outdoor events are prominent this week just in time for the arrival of fall (-ish) weather. There’s a rooftop luau for a good cause, a patio clam bake, a stadium-size barbecue, and an outdoor cooking competition featuring a slightly scary main ingredient. Also on the list – one more opportunity to partake in Oktoberfest-themed fare and fun.

Wednesday, October 4

Ohana Luau Fundraiser at Rooftop Cinema Club
Enjoy dinner and a movie at The Worthington Renaissance Hotel’s Rooftop Cinema Club and help support Maui fire relief efforts. Guests will partake in a Hawaiian-style barbecue dinner before an outdoor movie screening of 50 First Dates. Tickets are $25 per person, $10 of which will be donated to the Marriott Disaster Relief Fund. Additionally, 50 percent of all alcohol sales will go the fund. Doors open at 5 pm before the 7:15 pm movie start time.

Piroshky Piroshky Bakery Pop-up at Martin House Brewing
Bakery founded in Seattle will stop in Fort Worth on a Texas-wide tour, offering their signature Russian hand pies in delectable fillings such as beef & cheese, cabbage & onion, and vegan-friendly mushroom & potato. The full menu is online, and pre-ordering is required by October 2 at 4 pm. There's a minimum order of $50. Pickup at the brewery is 5-7 pm.

5-Course Whiskey Pairing Dinner at B&B Butchers & Restaurant
A powerhouse lineup of premium whiskeys will be served at this five-course pairing dinner at B&B, including brands like WhistlePig, Horse Soldier, and local Blackland Distilling Rye. Menu highlights include baked oysters with truffle butter and Roquefort crust, Colorado lamb lollipops, and 28-day dry-aged A5 Japanese ribeye. Dinner is $150 per person, plus tax and gratuity, and will begin at 6:30 pm.

Thursday, October 5

Clam Bake at Grace
Grace’s annual outdoor clam bake is back. Set to take place on the fine dining restaurant’s streetside patio, the menu will feature a selection of littleneck and chowder clams, Diver scallops, Maine lobster, jumbo prawns, Moosabec mussels, and king crab. Save room for New England apple cider doughnuts. The $195 per person ticket price, plus tax and gratuity, comes with a reception of bubbly and canapes starting at 6:30 pm. Dinner will start at 7 pm and is expected to sell out.

Port Tasting at Texas de Brazil
Savor the Brazilian steakhouse’s signature churrasco bites paired with an array of ports during this tasting for a good cause. All proceeds from the $54.99 per person ticket price will go toward Warrior Rising, an organization that helps mentor and coach veteran entrepreneurs. Guests will start with a reception cocktail followed by four ports, including a 20-year tawny. The tasting starts at 6:30 pm, and those who stay for dinner afterward will receive 25 percent off the regular dinner price.

Friday, October 6

Rattle Battle hosted by Tim Love
Chef Tim Love is hosting a cooking competition in the Fort Worth Stockyards featuring one of his signature ingredients: rattlesnake. A who's who of Fort Worth chefs will compete, and guests judge whose bites are best. Participating chefs include Jon Bonnell (Bonnell’s Fine Texas Cuisine, Waters), Graham Elliot (Le Margot), Blaine Staniford (Grace, 61 Osteria, Little Red Wasp), Rodrigo Cardenas (Don Artemio), Juan Rodriguez (Magdalena’s), and Travis Heim (Heim BBQ). Tickets are $125 per person and include open bars and a token for voting. The Rattle Battle will take place in Mule Alley from 3–5 pm in conjunction with PBR Rattler Days to be held at Dickies Arena and the Fort Worth Stockyards.

Saturday, October 7

Q BBQ Fest at AT&T Stadium
Arlington will get a little smoky when more than 30,000 pounds of brisket, chicken, pulled pork and ribs are dished out over two days at AT&T Stadium. Hosted by the Dallas Cowboys and Miller Lite, Q BBQ Fest will feature pitmasters from across Texas and throughout the nation. Indulge in all-you-can-eat with tickets starting at $69 (alcohol not included). Or go VIP ($129) and enjoy an open bar along with access to exclusive lounge areas and VIP-only pitmasters. Tickets are $35 for young adults ages 13-20, and children under 13 get in free. The event runs Saturday 11 am-8 pm and Sunday 10 am-2 pm. Note that tickets are sold in three- and four-hour time blocks.

Oktoberfest at Rusty Nickel IceHouse
The South Fort Worth indoor-outdoor restaurant, beer garden, and live music venue keeps the Oktoberfest celebration going with a party on the patio. Patrons can purchase a table ($180 for a six-top and $240 for an eight-top), which comes with food and drink for everyone. Each person will receive brats, sauerkraut, and potato salad along with a beer-filled stein and two buckets of Alstadt’s or Shiner Variety for the table. Games with prizes will include stein-hoisting, Dachshund races, and a bratwurst-eating contest. Table reservations will be good from 3-10 pm for the duration of the event.

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