Tuesday, February 9, 2021

Average Salary Information for U.S. Workers

 what is the average salary

How much is the average U.S. worker's salary? Salaries vary based on gender, education, occupation, industry, geographical location, ethnicity, and other factors. Learn more information about salaries in a variety of categories and calculators to use to determine the salary for specific occupations.

Average Salary Information for U.S. Workers

According to the Bureau of Labor Statistics (BLS), the median wage for workers in the United States in the first quarter of 2020 was $957 per week or $49,764 per year (assuming 52 weeks of work per year). Wages were 5.7% higher than a year earlier.

What's considered a good salary in one job or metro area may not be in another. For example, workers in professional, management, and related occupations earned the highest pay. In these jobs, men earned a median annual salary of $80,912, while women earned a median annual salary of $59,176. However, in service occupations, men earned a median annual salary of $34,632, while women earned a median annual salary of $29,068.1

Jobs in large metropolitan cities, which have higher costs of living, also tend to pay more than jobs in more rural and suburban areas.

Salary also varies by factors such as gender, education, and more.

Average Salaries for U.S. Men and Women

The BLS reports that, in the first quarter of 2020, men earned a median annual salary of $55,432, while women made a median annual salary of $44,564, or 80.4% of men’s earnings.

Average Salary by Race

Race and ethnicity also play a role in salaries for men and women. For example, White women earned 79.7% as much as their male counterparts, compared with 90.2% for Black women.

However, Black men made a median annual salary of $42,796, which is only 75.1% of what White men earned ($56,992). The difference for women was a bit less; Black women’s median annual earnings were 85% ($38,584) of White women’s median annual earnings ($45,396).The BLS also provides information on Hispanic and Asian wage earners, who earned a median annual salary of $37,544 and $63,492, respectively.

Average Salary by Age

Salaries also varied by age, but men and women had different earnings peaks. For example, men aged 45 to 54 had the highest median annual salary ($64,740). Women, on the other hand, earned the highest annual wages between ages 35 and 44 ($48,984).

Average Salary Based on Education

The BLS data clearly reveals that completing more education pays off. Workers aged 25 and over without a high school degree had median annual earnings of $31,668 over the first quarter of 2020 compared to $39,936 for high school graduates without a college degree. College graduates with at least a bachelor's degree earned a median salary of $72,020 annually.

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