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.
As a rule of thumb, a good salary in Los Angeles is between $100k and $200k gross per year. Based on the cost of living in Los Angeles, this should come down to a minimum of $76,710 yearly after taxes.
The BLS groups median salaries by age brackets. The median salary for ages 25-34 in the second quarter of 2023 is $54,184 per year. And the median salary for individuals ages 20-24 is $37,024 per year.
As of Jun 18, 2024, the average annual pay for the Upper Class jobs category in the United States is $59,699 a year. Just in case you need a simple salary calculator, that works out to be approximately $28.70 an hour. This is the equivalent of $1,148/week or $4,974/month.
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.
If you make $75,000 a year, you're earning more than half of all workers in the U.S. And in fact, many people would probably consider the salary as good pay.
The latest census numbers indicate what income ranges constitute the middle class (as of 2020). This will depend on family size. For a single individual, a middle-class income ranges from $30,000 - $90,000 per year.
From age 18-24, only 1% of earners (7% altogether) earn $100k per year or more. This makes these age groups by far the lowest earners in the US. Americans make the most income gains between 25 and 35. Only 2% of 25-year-olds make over $100k per year, but this jumps to a considerable 12% by 35.
“Good income is relative to the average household income in America, which is $78,000 right now.” Real median household income in the U.S. was $78,250 in 2019 and fell to $74,580 in 2022, according to the Census Bureau. "You're not a bad person. You're not a horrible income earner. You're not lazy.
Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year.
In 2020, according to Pew Research Center analysis, the median for upper income households was around $220,000 and the median for middle income households was slightly above $90,000.
U.S. employers reported that 2024 annual merit increase budgets rose by 3.3 percent, on average, while total salary increase budgets jumped by 3.6 percent—down from the November 2023 projections of 3.5 percent and 3.8 percent, respectively, according to new data from Mercer.
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 of Jun 10, 2024, the average hourly pay for a Happiness in the United States is $13.97 an hour. While ZipRecruiter is seeing hourly wages as high as $17.55 and as low as $11.30, the majority of Happiness wages currently range between $12.74 (25th percentile) to $14.90 (75th percentile) across the United States.
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