Average Salary in Pennsylvania 2023 - The Complete Guide (2023)

How much money does a person working in Pennsylvania make?

Average Salary in Pennsylvania 2023 - The Complete Guide (1)

Average Yearly Salary

103,000 USD

( 8,550 USD monthly)


A person working in Pennsylvania typically earns around 103,000 USD per year. Salaries range from 26,000 USD (lowest average) to 458,000 USD (highest average, actual maximum salary is higher).

This is the average yearly salary including housing, transport, and other benefits. Salaries vary drastically between different careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Distribution of Salaries in Pennsylvania

Average Salary in Pennsylvania 2023 - The Complete Guide (2)

The median, the maximum, the minimum, and the range

  • Salary Range

    Salaries in Pennsylvania range from 26,000 USD per year (minimum salary) to 458,000 USD per year (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 105,000 USD per year, which means that half (50%) of the population are earning less than 105,000 USD while the other half are earning more than 105,000 USD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of the population are earning less than 58,800 USD while 75% of them are earning more than 58,800 USD. Also from the diagram, 75% of the population are earning less than 287,000 USD while 25% are earning more than 287,000 USD.

What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

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Salary Comparison by Years of Experience

How does a person's salary progress over time?

Average Salary in Pennsylvania 2023 - The Complete Guide (8)

The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.

Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.

* Based on the average change in salary over time. Salary variations differ from person to person.

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Salary Comparison By Education

How does the education level affect your salary?

Average Salary in Pennsylvania 2023 - The Complete Guide (14)

It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.

Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.

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Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in United States costs anywhere from 39,500 US Dollar(s) to 118,000 US Dollar(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Salary Comparison By Gender

Average Salary in Pennsylvania 2023 - The Complete Guide (15)

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in United States earn 6% more than their female counterparts on avergae across all sectors.


97,500 USD


92,100 USD

Percentage increase and decrease are relative to the previous value

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Average Annual Salary Increment Percentage in United States

How much are annual salary increments in United States? How often do employees get salary raises?

United States

Employees in United States are likely to observe a salary increase of approximately 8% every 16 months.

Average Salary in Pennsylvania 2023 - The Complete Guide (16)

The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in United States is 6%.

Annual Increment Rate By Industry 2022





Information Technology










Listed above are the average annual increase rates for each industry in United States for the year 2022. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.

Average Salary Increase Rate by Experience Level

Junoir Level

3% - 5%


6% - 9%

Senior Level

10% - 15%

Top Management

15% - 20%

The difference in increment rates is somehow justified because employers put more effort to retain more experienced staff since they are harder to acquire than less experienced ones.

Worldwide Salary Raises: All Countries and All Jobs

Average Salary in Pennsylvania 2023 - The Complete Guide (17)

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Bonus and Incentive Rates in United States

How much and how often are bonuses being awarded?Average Salary in Pennsylvania 2023 - The Complete Guide (19)

47% of surveyed staff in United States reported that they haven't received any bonuses or incentives in the previous year while 53% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.

Received Bonus


No Bonus


Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.

Bonus Rates Comparison by Career Field







Business Development


Marketing / Advertising


Information Technology






Customer Service


Human Resources








What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

A graphics designer working for a graphics designing company.

A graphic designer in the marketing department of a hospital.

Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

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Salaries for popular jobs

Job TitleAverage Salary
Accounting and Finance
Accountant76,500 USD
Accounting Assistant60,100 USD
Accounting Manager153,000 USD
Bookkeeper51,500 USD
Chartered Accountant93,000 USD
Corporate Treasurer143,000 USD
Financial Analyst138,000 USD
Financial Manager208,000 USD
Internal Auditor104,000 USD

Administration / Reception / Secretarial
Administrative Assistant56,800 USD
Office Manager90,900 USD
Receptionist40,600 USD
Secretary48,000 USD

Advertising / Grapic Design / Events
Art Director101,000 USD
Creative Director105,000 USD
Graphic Designer68,500 USD
Photographer60,900 USD

Airlines / Aviation / Aerospace / Defense
Aerospace Engineer130,000 USD
Air Traffic Controller113,000 USD
Flight Attendant75,400 USD
Pilot175,000 USD

Architect125,000 USD
CAD Drafter54,300 USD

Mechanic39,800 USD
Service Advisor73,900 USD

Bank Branch Manager199,000 USD
Teller39,200 USD

Teacher78,400 USD
Translator93,000 USD

Business Planning
Business Analyst133,000 USD
Business Development Manager167,000 USD
Project Manager117,000 USD

Care Giving and Child Care
Nanny44,800 USD
Nursery Teacher40,400 USD

Construction / Building / Installation
Civil Engineer100,000 USD
Construction Project Manager175,000 USD
Health and Safety Officer45,600 USD

Customer Service and Call Center
Call Center Representative40,400 USD
Customer Service Manager137,000 USD
Customer Service Representative38,400 USD

Electrical Engineer109,000 USD
Engineer95,400 USD
Mechanical Engineer104,000 USD

Executive and Management
Chief Executive Officer239,000 USD
Chief Financial Officer227,000 USD
General Manager178,000 USD

Food / Hospitality / Tourism / Catering
Chef66,300 USD
Executive Chef77,500 USD
Hotel Manager187,000 USD
Travel Agent69,100 USD
Waiter / Waitress34,700 USD

Health and Medical
Dentist245,000 USD
Dietitian216,000 USD
Laboratory Technician82,300 USD
Nurse81,000 USD

Human Resources
Human Resources Manager161,000 USD
Human Resources Officer65,500 USD

Information Technology
Computer Technician80,800 USD
Database Administrator107,000 USD
Developer / Programmer100,000 USD
Information Technology Manager183,000 USD
Network Engineer94,200 USD

Law Enforcement / Security / Fire
Police Officer62,000 USD

Attorney211,000 USD
Legal Assistant57,100 USD

Media / Broadcasting / Arts / Entertainment
Journalist125,000 USD

Pharmaceutical and Biotechnology
Biomedical Engineer87,000 USD
Pharmacist138,000 USD

Sales Retail and Wholesale
Cashier39,800 USD
Sales Manager187,000 USD
Sales Representative71,000 USD

Teaching / Education
Elementary School Teacher74,000 USD
Secondary School Teacher83,600 USD

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Average Hourly Wage in Pennsylvania

Average Salary in Pennsylvania 2023 - The Complete Guide (21) 49 USD per hour

The average hourly wage (pay per hour) in Pennsylvania is 49 USD. This means that the average person in Pennsylvania earns approximately 49 USD for every worked hour.

Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

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Pennsylvania VS United States

Average Salary in Pennsylvania 2023 - The Complete Guide (22)

We compared salaries in Pennsylvania and United States and we found that Pennsylvania salaries are 8% more than those of United States.

Salary Comparison By City

CityAverage Salary
Philadelphia112,000 USD

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in United States earn 5% more than their private sector counterparts on average across all sectors.

Private Sector

92,400 USD

Public Sector+5%

97,100 USD

Percentage increase and decrease are relative to the previous value

United States»Pennsylvania

Browse SalariesSalary Increase Letters

Best Paying Jobs


How much does the average 23 year old make a year? ›

The median salary of 20- to 24-year-olds is $706 per week, which translates to $36,712 per year. Many Americans start out their careers in their 20s and don't earn as much as they will once they reach their 30s.

What is the average annual income in Pennsylvania? ›

Mean travel time to work (minutes), workers age 16 years+, 2017-202126.9
Income & Poverty
Median household income (in 2021 dollars), 2017-2021$67,587
Per capita income in past 12 months (in 2021 dollars), 2017-2021$37,725
57 more rows

What is a respectable yearly salary? ›

A salary of $60,000 per year is good enough to give you a decent and comfortable lifestyle in most parts of the world. In the United States, that is enough to cater to your needs and wants and to give you a comfortable living. However, this depends on the size of your family and the location where you live.

Where should I be financially at 35? ›

So to answer the question, we believe having one to one-and-a-half times your income saved for retirement by age 35 is a reasonable target. By age 50, you would be considered on track if you have three to six times your preretirement gross income saved.

How much does the average 40 year old make? ›

The median salary of 35- to 44-year-olds is $1,127 per week or $58,604 per year. That said, the number conceals considerable variation by gender. For example, male 35- to 44-year-olds earn a median salary of $1,232 per week, whereas women in the same age bracket earn a median of $1,003 per week.

What is a comfortable salary in PA? ›

As of Feb 28, 2023, the average annual pay for the Comfortable jobs category in Pennsylvania is $49,804 a year. Just in case you need a simple salary calculator, that works out to be approximately $23.94 an hour. This is the equivalent of $957/week or $4,150/month.

What is middle class income in PA? ›

Pew explains that a middle income equals an annual household income of $52,000 to $156,000 for a family of three, based on 2020 dollars.

What is considered high income in PA? ›

Median Household Income: $67,587. Average Household Income: $92,849. Per Capita Income: $37,725. 8.4% of Households in Pennsylvania are High Income Households that make over $200,000 a year.

What is considered middle class in Pennsylvania? ›

Pew explains that a middle income equals an annual household income of $52,000 to $156,000 for a family of three, based on 2020 dollars. These numbers are obviously not adjusted for inflation since then.

How much is 65k a year in Pennsylvania? ›

If you make $65,000 a year living in the region of Pennsylvania, USA, you will be taxed $14,075. That means that your net pay will be $50,925 per year, or $4,244 per month.

What is 70k a year after taxes PA? ›

If you make $70,000 a year living in the region of Pennsylvania, USA, you will be taxed $15,714. That means that your net pay will be $54,286 per year, or $4,524 per month.

What is a decent salary in America? ›

According to the US Bureau of Labor Statistics (BLS), the median annual wage across all occupations in 2021 was $58,260 [1]. For a person living in Phoenix, Arizona, where the median wage is $56,610, earning above the national average may be considered very good.

What is a good income for a single person? ›

A living wage for a single person in California with no children is $21.82 per hour or $45,385 per year, assuming a 40-hour workweek. Whether that salary is livable for someone can depend on where they live in California and how they typically spend their money.

What is a decent wage in America? ›

As of Feb 25, 2023, the average annual pay for the Decent jobs category in the United States is $44,910 a year. Just in case you need a simple salary calculator, that works out to be approximately $21.59 an hour.

What is a good monthly retirement income? ›

A good retirement income is about 80% of your pre-retirement income before leaving the workforce. For example, if your pre-retirement income is $5,000 you should aim to have a $4,000 retirement income.

What age is best to retire? ›

The normal retirement age is typically 65 or 66 for most people; this is when you can begin drawing your full Social Security retirement benefit. It could make sense to retire earlier or later, however, depending on your financial situation, needs and goals.

How much should I have in my 401k at 55? ›

According to these parameters, you may need 10 to 12 times your current annual salary saved by the time you retire. Experts say to have at least seven times your salary saved at age 55. That means if you make $55,000 a year, you should have at least $385,000 saved for retirement.

How much 401k should I have at 40? ›

Fidelity says by age 40, aim to have a multiple of three times your salary saved up. That means if you're earning $75,000, your retirement account balance should be around $225,000 when you turn 40. If your employer offers both a traditional and Roth 401(k), you might want to divide your savings between the two.

At what age do you make the most money? ›

From career achievements to family milestones, these are the years in which you'll see the hard work you put in during your 20s and 30s really start to pay off. These decades are known as your peak earning years, as full-time workers with bachelor's degrees tend to make the most money in their 40s and 50s.

What should my net worth be at 45? ›

Age of head of familyMedian net worthAverage net worth
Less than 35$13,900$76,300
2 more rows

Which state pays Pa more? ›

Best-Paying States for Physician Assistants

The states and districts that pay Physician Assistants the highest mean salary are Rhode Island ($146,880), Alaska ($145,830), Connecticut ($141,790), New Jersey ($140,080), and New Hampshire ($137,330). How Much Do Physician Assistants Make in Your City?

What state pays the most in PA? ›

Geographic profile for Physician Assistants:
StateEmployment (1)Hourly mean wage
California14,600$ 65.83
New York13,670$ 63.37
Texas8,900$ 55.81
Pennsylvania7,340$ 52.66
1 more row

What is upper class in PA? ›

Pew defines the upper class as adults whose annual household income is more than double the national median. In 2022, the national median household income is around $75,000, up from $68,000 in 2021.

What is considered middle class in 2023? ›

In California's Bay Area of San Francisco, Oakland and Berkeley, families making between $77,000 and $232,000 are considered middle class. For California's Inland Empire region of Riverside, San Bernardino and Ontario, the range falls between $51,000 and $154,000.

What income is considered upper middle class? ›

Many have graduate degrees with educational attainment serving as the main distinguishing feature of this class. Household incomes commonly exceed $100,000, with some smaller one-income earners household having incomes in the high 5-figure range.

Is $50000 a year considered middle class? ›

The Pew Research Center defines the middle class as households that earn between two-thirds and double the median U.S. household income, which was $65,000 in 2021, according to the U.S. Census Bureau. 21 Using Pew's yardstick, middle income is made up of people who make between $43,350 and $130,000.

What is the wealthiest zip code in PA? ›

According to an analysis from the PropertyShark real estate blog, Villanova (19085) is the state's most expensive ZIP code. There, the median home price is $953,000 so far in 2020. Communities along the Main Line continue to be among Pennsylvania's most expensive.

What is the whitest county in Pennsylvania? ›

The county with the largest percentage of white population in 2020 was Bedford County (95.8%). Bedford was followed by Jefferson (95.5%), Elk and Armstrong (95.4%) and Potter (95.2%) counties.

What is the richest town in PA? ›

In this article, we'll look at the top 10 richest cities in Pennsylvania and explore some of the demographic statistics of each to see if we can find out why they are the richest.
Richest Cities in Pennsylvania.
CityFox Chapel
CountyAllegheny County
Mean Income$341,148.00
9 more columns

Whats considered low income in PA? ›

For example, a single person living alone cannot make more than $27,180 and a family of four cannot make more than $55,500.

What are the 5 income classes? ›

One objective way some researchers divide individuals into economic classes is by looking at their incomes. From that data, they split earners into different classes: poor, lower-middle class, middle class, upper-middle class and wealthy.

Who pays more middle class or upper class? ›

Key Takeaways. The top 1% paid the most in federal income taxes in 2019. Your overall tax rate won't go up if your salary goes up, since higher tax rates only affect part of your income. The United States tax system is progressive, which means that those who earn more money pay a higher percentage in taxes.

How much is 100k after taxes in PA? ›

If you make $100,000 a year living in the region of Pennsylvania, USA, you will be taxed $25,548. That means that your net pay will be $74,452 per year, or $6,204 per month. Your average tax rate is 25.6% and your marginal tax rate is 34.4%.

How much is 80000 a year after taxes in PA? ›

If you make $80,000 a year living in the region of Pennsylvania, USA, you will be taxed $18,992. That means that your net pay will be $61,008 per year, or $5,084 per month. Your average tax rate is 23.7% and your marginal tax rate is 32.8%.

How much is 75k a year after taxes in PA? ›

If you make $75,000 a year living in the region of Pennsylvania, USA, you will be taxed $17,353. That means that your net pay will be $57,647 per year, or $4,804 per month.

How much is 120k after taxes in PA? ›

If you make $120,000 a year living in the region of Pennsylvania, USA, you will be taxed $32,464. That means that your net pay will be $87,537 per year, or $7,295 per month. Your average tax rate is 27.1% and your marginal tax rate is 34.8%.

What income is not taxable in PA? ›

Some types of income are exempt from Pennsylvania state income tax, including child support, alimony, unemployment payments, and some capital gains on the sale of a primary residence. Some deductions are allowed for contributions to educational savings accounts and medical or health savings accounts.

How much is 90k a year after taxes PA? ›

If you make $90,000 a year living in the region of Pennsylvania, USA, you will be taxed $22,270. That means that your net pay will be $67,730 per year, or $5,644 per month.

What percentage of Americans make over 100k? ›

In the US, 18% of individual Americans and 34.4% of households make $100k per year or more. This number has increased by 2.97% in the past five years and has nearly doubled since 1980. However, that doesn't mean all $100k+ earners are evenly spread.

What salary is top 10 percent us? ›

Landing in the top 10% is a fairly attainable goal for upwardly mobile Americans. A study by the Economic Policy Institute (EPI) found that the average earnings of those in the top 10% were roughly $173,000 in 2020.

What is the average age to make six figures? ›

The average age to make six figures is typically in the late-30s or early 40s, but it is possible to make six figures earlier if you are exceptionally successful. This is because many people cannot find a job that pays this much money right out of college. It takes time and experience to land a high-paying job.

How much a year is $25 an hour? ›

$25 hourly is how much per year? If you make $25 per hour, your Yearly salary would be $52,000. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 40 hours a week.

How much a year is 40 dollars an hour? ›

As of Mar 1, 2023, the average annual pay for a 40 Dollars An Hour in the United States is $50,592 a year.

How much money is sufficient for comfortable life? ›

A simple calculation tells us that when a person accumulates around 400-500 times of their monthly expenses, they have enough to last for another 30 yrs.

What is considered a good salary in 2023? ›

According to the IRS, any household who makes over $500,000 a year in 2023 is considered a top 1% income earner. Of course, some parts of the country require a higher income level to be in the top 1% income, e.g. Connecticut at $580,000.

How much money does the average American make in a lifetime? ›

Overall, the median lifetime earnings for all workers are $1.7 million, which is just under $42,000 per year ($20 per hour). Over a 40-year career, those who didn't earn a high school diploma or GED are expected to bring in less than $1 million, which translates into slightly more than $24,000 a year ($11.70 per hour).

What is considered to be a high paying job? ›

Here are the highest paying jobs of 2023:

Surgeon: $208,000. Orthodontist: $208,000. Physician: $208,000. Psychiatrist: $208,000.

How much does the average 23 year old male make? ›

You'll also find average income by age, median, and top 1% by age. Individual incomes here are limited to Americans who worked (or wanted to work) in full-year 2021.
What is the median individual income by age in the United States?
AgeMedian Income
56 more rows

What is a good salary to make at 25? ›

For Americans ages 25 to 34, the median salary is $1,003 per week or $52,156 per year. That's a big jump from the median salary for 20- to 24-year-olds.

Is $100 000 a year good? ›

Yes, 100k a year is considered a good salary or income in most parts of the country. It is above the median household income in the United States, providing a comfortable lifestyle and financial security.

Is 40k a year good? ›

As an individual, you may find that $40,000 is a good entry-level salary. Couples living the DINK lifestyle (which stands for dual income, no kids) and who each make $40,000 would be well above the median household income. Plus, they would have the additional costs of raising children as part of their budget.

What is considered upper middle class? ›

The middle class feels they're missing out and that the upper class is looking down on them, he adds.
What Is Middle-Class Income?
Income groupIncome
Low incomeLess than $52,200
Middle income$52,200 - $156,600
Upper incomeMore than $156,600

What is a good net worth at 23? ›

Median Net Worth: $13,900.
Average Millennial Net Worth By Age.
AgeAverage Net Worth
24 (Class of 2018)-$28,706
23 (Class of 2019)-$33,984
22 (Class of 2020)-$39,915
15 more rows
Feb 19, 2023

What is considered upper class? ›

The term upper class is a socioeconomic term used to describe those who reside on the highest levels of the social ladder above the middle and working or lower classes. They generally have the highest status in society and hold a great deal of wealth.

How much should I have saved for retirement by age 55? ›

Suggested savings: The general guidelines recommend having eight times your annual salary saved by 60. The median income for a 55-year-old is about $57,500, which means having $460,000 saved for retirement. The average savings for those 55-65 is $197,322.

What should my salary be at 50? ›

What was the average and median income by age in 2022?
38 more rows

What is considered high income? ›

Based on Pew's analysis, a household of three needs an income of $156,600 to meet the definition of upper class, which amounts to more than double the national median.

Can a family of 4 live on $100 000 a year? ›

In most parts of the country, a $100,000 salary is considered good; maybe even very, very good. It can be more than enough for an individual or even a small family to live comfortably.

What percentage of Americans make 100k? ›

18% of individual Americans make over $100k per year. 34.4% of US households make over $100k per year. 37% of White Households make over $100k, compared to only 22% of Black households. 9% more men earn $100k per year than women in the US.

What is the $27.40 rule? ›

As a general rule, you can save $10,000 in a year by saving $27.40 a day, $192.30 a week, $384.62 every two weeks, or $833.33 a month. It will take discipline, cutting back, and increasing income to make this happen.

What is $22 an hour annually? ›

$22 hourly is how much per year? If you make $22 per hour, your Yearly salary would be $45,760. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 40 hours a week. How much tax do I pay if I make $22 per hour?

What is $50000 a year hourly? ›

An average person works about 40 hours per week, which means if they make $50,000 a year, they earn $24.04 per hour.

What is $50000 salary to hourly? ›

$50,000 per year is approximately $24.04 per hour, but it's not as simple as it may seem to convert annual salary to hourly pay. Information is accurate as of Feb. 15, 2023.


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