Smith's academic qualification began at the Marshall Academy, a K–12 private school in Holly Springs. After his parents dissolved their married life, he moved to Florida with his mother, and he earned his high school graduation from there.
Shepard Smith joined the University of Mississippi with a major in journalism. While he was in the University, he met the first love of his life, Virginia Donald. The couple was classmates and fall for each other from the beginning of their University life. After dating for several years, While and his girlfriend got married in 1987. Sadly after five years of their wedding, the couple divorced in 1993.
He began his professional journalism career at WJHG-TV. In 1985, he joined WCJB-TV and served as its reporter. He also worked as a reporter at WBBH-TV, WSVN, and WCPX-TV, which is now renamed as WKMG-TV. He also worked as a correspondent of A Current Affair for several years.
Shepard Smith has been working for Fox News Channel since 1996. A year ago, he covered and reported the news about the death and funeral of Diana, Princess of Wales. He also reported the events and aftermath of Hurricane, Katrina, Florida ballot-counting controversy, and so on
Shepard come into the limelight as he began anchoring "The Fox Report with Shepard Smith," which became the top-rated newscast in cable news of that time. At the end of 2007, he signed a deal with Fox News and he began earning a salary between US$7 million and US$8 million per year. Nowadays his annual salary is around $10 million. From October 2013, he became the host of Shepard Smith Reporting. As of 2017, he has an estimated net worth of $20 million.