Whether you’re searching the web for “Average salary in U.S.” because you want to know where your income stands, or you’re just curious, the average salary varies based on the state you live in. Even the wage in different metropolitan areas differs from the actual state.
What Is the Average Salary in U.S.?
The average salary in the U.S. is $44,564 per year as of the fourth quarter of 2017, which is the same as making $857 per week for a 40-hour work week. This figure represents a 0.9 percent increase from 2016.
Factors that Influence Your Salary
Several factors affect the statistics regarding the average salary for the country. For instance, age, gender, occupation, education level, location, and race all play a role.
When you search “average salary in the U.S. for service occupations,” you’ll notice the average salary is lower than the actual natural average. For instance, most service occupations earn you an average of $28,028 per year. On the other hand, professional occupations earn an average of $64,220.
Your education has an impact on how much you make as well. The average income for someone who doesn’t have a complete high school education is $27,612 annually. Those who completed their high school education earn slightly more. On average, someone who earned an associate’s degree earns around $37,128 per year.
People who earned a bachelor’s degree make even more with an average of $66,464. Advanced degree holders make an average of $77,324 or more per year, some exceeding $100,000 per year.
Although other factors play a role than just your race, it does appear certain ethnicities have a higher average salary than others. According to the Bureau of Labor Statistics (BLS), Latinos seem to have the lowest average salary. As a whole including both men and women, they earn an average of $646 per week, which averages to $33,529 per year.
African Americans make the next lowest salary on average. The BLS reports these individuals earned an average income of $675 per week, which is the same as $35,100 per year. The statistics denote whites made the second high average salary in the U.S. Based on the statistics, they earned $881 per week or $45,812 per year. Asians earned the highest salary of all ethnicities. Many of them earned $1,022 per week or $53,144 per year.
Based on the statistics, men made the most overall and in every age bracket. For example, men who were over the age of 16 earned an average of $927 per week, which is the same as $48,204 per year. Black women earned 92.1 percent as much as black males.
Hispanic women made 86.9 percent as much as Hispanic men while white women earned 81.1 percent as much as white men. Asian women made significantly less than Asian men. In fact, they made 79.2 percent as much as Asian men.
When you examine the results of a search for “average salary in U.S.,” the results show the average salary based on age. Obviously, as people age, they tend to make a higher income, and the statistics signify this.
Teenager women between the ages of 16 to 19 years of age tend to earn $22,880 annually. Ladies between the ages of 20 to 24 years earned about $828 weekly, which is the same as $43,056 annually. Females between the ages of 45 and 54 made an average of $1094 weekly or $56,888 yearly.
By the time women reached the ages of 55 to 64, they usually made around $1,058 weekly or $55,016 yearly. Since most people retire at the age of 65, the average pay rate decreased to $1,005 weekly or $52,260 yearly for women in this age group.
On the other hand, men made approximately 20 percent more than females in every age group. A primary example is men between the ages of 16 to 19 made $440 weekly or $22,880 annually. When men reached the age of 20 to 24 years of age, they made an average of $549 weekly or $28,548 annually.
Men in the age bracket of 25 and 34 years of age earned an average of $43,056 per year, which is the same as $828 per week. Males between the ages of 35 and 45 made $1,065 per week or $55,380 per year. The average man between the ages of 45 and 54 years of age grossed $56,888 per year or $1,094 per week.
Gentlemen between the ages of 45 and 54 years of age brought in $1,058 weekly or $56,888 annually. After men reached the age of 65 and older, their average salary was $1,005 per week or $52,260 per year.
The statistics indicate a pay gap still exists between women and women. Even immediately proceeding college, men earned more with the average man making more than $10,000 more than a woman. The peak earning age is significantly lower for women.
Where a person lived affected how much they earned. Some states are known for higher paying jobs overall while other states are known for paying more for certain careers.
The state with the highest average hourly rate was the District of Columbia, where the average pay was $32.63 per hour as of 2017. In the same year, Massachusetts ranked well as a state with a highest median hourly wage of $21.38.
In Mississippi, on the other hand, individuals earned the lowest hourly wage of all the states. The average in Arkansas was also low with an average hourly salary of $14.40.
People in Alaska made more money than other states in various professions but that doesn’t mean you should move there because jobs aren’t plentiful there. California is another state where people tend to make more money, and while there are many jobs available, you do have a great deal of competition, depending on your career.
Careers with the Highest Salaries
The career with the highest salary was a doctor. Surgeons also earned a substantial income. In this particular profession, the average doctor or surgeon grossed between $168,650 and $234,950 per year. Although you discover information about doctors when your search for “highest average U.S. salary,” becoming a doctor does require extensive education.
The next highest paying career was dentists including orthodontists. On average, dentists earned between $161,750 and $204,670 per year. Some states paid dentists more on average. For instance, Delaware is known as one of the top-paying states for dentists. Keep in mind, if you would want to become an orthodontist, you won’t make as much since you might not have your own practice.
Chief executive advisors (CEO) earned an average salary of $176,550 per year. In some states, CEOs earned more on average like in Stamford, Connecticut, where the average CEO earned $234,030 per year. In Columbus, Indiana, the average CEO earned $230,330 per year.
The average annual salary for a petroleum engineer was $138,980 per year. The average petroleum engineer who worked in oil or gas earned an annual salary of $150,890 annually. Location also plays a role, considering Texas paid the highest salary with individuals in this field earning an average of $146,770 per year.
Careers with the Lowest Salaries
While you may think people who own restaurants or are a chef at one make good money, executive chefs only make $67,082 per year though.
While you do need a great deal of skill to plan out the construction of a building to ensure it stands and is functional, an architect may not make as much as you think. The median salary for this career was $48,138 per year.
Both police officers and firefighters save lives, but they don’t get paid as they do. The median salary of a police officer was $52,316 while a firefighter only earned an average of $43,167 each year.
A paramedic helps people each and every day. They must race to the scene of emergencies. On average, they only made $39,853 per year. The only perk is that you only have to earn an associate’s degree to obtain your paramedic license.
You may think the names you see in the newspaper who go to the scene of stories have high salaries, but on average, a reporter only earned $37,858 per year.
Check the Average Salaries in Your Location
Overall, when you’re searching the topic, “average salary in US,” you’ll notice the average changes based on many factors. Therefore, instead of merely searching on the Bureau of Labor Statistics’ site for the average salary and narrowing your decision down to the highest salaries, look into the average salary for where you live and take into consideration your age and gender may affect your income.
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