The trend for salary by age looks like a bell curve. Here is a chart showing that based on weekly and annual income:
Age Group
Weekly Income
Annual Income
16-19 years
$622
$32,344
20-24 years
$758
$39,416
25-34 years
$1,080
$56,160
35-44 years
$1,303
$67,756
45-54 years
$1,275
$66,300
55-64 years
$1,244
$64,688
65+ years
$1,055
$54,860
According to this table, salary tends to increase with age. However, that upward trend stops around 50 or 55 years old.
Average Salaries by Gender
Looking at the same BLS data set from the previous section, you can slice the data based on gender. It shows that even in the modern age, the gender pay gap remains an issue:
Age Group
Annual Income (Men)
Annual Income (Women)
Women Income as Percentage of Men Income
16-19 years
$34,268
$28,964
85%
20-24 years
$40,664
$37,700
93%
25-34 years
$58,968
$53,196
90%
35-44 years
$72,956
$60,944
84%
45-54 years
$72,852
$59,540
82%
55-64 years
$72,176
$57,252
79%
65+ years
$61,204
$48,932
80%
This chart shows that women starting out in the workforce initially make close to their male counterparts. However, as they age, they go from 90%-95% to 80%-85%.
Average Salaries by Education Level
The BLS’ most recent data on education and income shows a steady curve upward, indicating that, in general, more education leads to more income. The opposite can be said about the connection between education and employment, with unemployment being higher for workers with less education.
Here is a chart that breaks down these concepts — income and unemployment — by level of education obtained:
Education Level
Weekly Income
Annual Income
Unemployment Rate
Less than high school diploma
$682
$35,464
5.5%
High school diploma
$853
$44,356
4%
Some college, no degree
$935
$48,620
3.5%
Associate degree
$1,005
$52,260
2.7%
Bachelor’s degree
$1,432
$74,464
2.2%
Master’s degree
$1,661
$86,372
1.9%
Professional degree
$2,080
$108,160
1.4%
Doctoral degree
$2,083
$108,316
1%
Average Salaries by Job and Industry
Salaries also differ depending on the job and industry. The BLS provides a thorough breakdown of salary along these lines. Here are some of the roles mentioned in the BLS report:
After learning about average salary across a variety of factors, you may be wondering how common your wage is. Here is a breakdown of the percentage of Americans who fall into each income bracket:
Income Bracket*
Percentage of Americans
Under $15,000
8.3%
$15,000-$24,999
7.4%
$25,000-$34,999
7.6%
$35,000-$49,999
10.6%
$50,000-$74,999
16.2%
$75,000-$99,999
12.3%
$100,000-$149,999
16.4%
$150,000-$199,999
9.2%
Over $200,000
11.9%
*Based on household income, not individual income
As you can see, almost half of American households fall in the middle income brackets, making between $50,000 and $150,000.
It’s true that U.S. salaries vary by age. However, they also vary for other reasons, including job, education and industry. Employers should take all of this salary data into consideration, using it to determine fair pay based on cost of living and experience.
Frequently Asked Questions About Average Salaries by Age
Research from Statista indicates that 21.1% of workers in the U.S. make over $150,000 per year.
Key Findings. In a large U.S. city, a middle-class income averages between $52,000 and $155,000. The median household income across all 345 cities is $77,345, making middle-class income limits fall between $51,558 and $154,590.
At the other end of the scale, Honolulu, Hawaii follows Manhattan, New York on the list of cities where $100,000 is worth the least, at $39,148 of purchasing power. San Francisco, California is next at $40,997, followed by Brooklyn, New York at $43,376 and Los Angeles, California at $47,762.
According to the Bureau of Labor Statistics's most recent data (May 2022), the average salary nationwide is $61,900, which means that $70,000 is a common salary — but above the national average.
A $75k salary is more than what half of U.S. workers earn, and depending on where you live and your expenses, may be more than enough to live comfortably.
You also need an annual household salary of at least $50,000 to be considered middle class in 17 other states, including California, New York, Oregon, Washington, Utah and Hawaii.
Well, it depends. A $40,000 salary may be sufficient for an individual in a low-cost area, but it may not be enough for a family to live comfortably in most parts of the US. Rising inflation has made it more challenging to live on a $40,000 salary, but it still exceeds the poverty threshold for families.
Where you rank by income. According to the Census Bureau's Income in the United States: 2022 report, the median household income is $74,580 (a 2.3% decline from 2021), while household income levels for each class level are as follows: Lower class: less than or equal to $30,000. Lower-middle class: $30,001 – $58,020.
However, new research from GOBankingRates shows that in some major U.S. cities, an annual income of $150,000 is only enough to qualify as “lower middle class.” This is especially pronounced in two Northern California cities and Arlington, Virginia.
A family of four in California needs to earn nearly $70,000 annually to still be considered middle class in 2023, according to a new report by ConsumerAffairs.
The median salary of 35- to 44-year-olds is $1,197 per week or $62,244 per year. That said, the number conceals considerable variation by gender. For example, male 35- to 44-year-olds earn a median salary of $1,299 per week, whereas women in the same age bracket earn a median of $1,086 per week.
What Is the Average US Salary (2024) The national average salary is $63,795. That is the sum of all incomes divided by the number of workers. Where someone lives, their industry, education level, and current demand for that job all contribute to how much a worker earns per year.
What is the highest-paying job within the USA in 2024? Being a Chief Executive Officer is the highest-paying- job in America. This position earns an average annual salary of USD 329,500, but their earnings can go as low as USD 276,500 and as high as USD 396,000.
As projected by SHRM, employees can expect an average base salary increase of 3.5% in 2024 – down from 3.8% in 2023. A survey by PayScale, businesses are planning to maintain salary increases of 3.8 percent on average in 2024.
Starting in 2024, California will have the second highest statewide minimum wage behind Washington, which is more than double the stagnant $7.25 an hour federal limit. According to the California Department of Industrial Relations, wages are set to rise from $15.50 to $16 per hour in January.
There are no state or local income taxes, and a 12% discount on cost of living relative to the average across the U.S. mean it goes a long way. In San Francisco, Los Angeles, San Diego, and Oakland, all in California, a $100,000 salary is effectively halved, in terms of what it can afford.
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