Social Media Means
Social Media Means
Photo: Tima Miroshnichenko
Key findings. National average income: The national average U.S. income in 2021 was $97,962. The median U.S. income in 2021 was $69,717. Highest paying jobs: Chief executives and nurse anesthetists earned over $200,000 a year on average in 2021, making them the highest paid occupations.
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Read More »When you look at your paycheck, are you happy with what you see? Or do you wonder if you should make more? While your industry and position largely dictate your earnings, you may want to know how your salary compares to the national average income of your peers or the general population. After all, the more you make, the more you can (usually) save for an emergency or retirement. Wonder no more. Here's a deep dive into Americans' earnings by factors such as occupation, age, gender, and location so you can get a sense of how your paycheck stacks up. Key findings National average income: The national average U.S. income in 2021 was $97,962. The median U.S. income in 2021 was $69,717. The national average U.S. income in 2021 was $97,962. The median U.S. income in 2021 was $69,717. Highest paying jobs: Chief executives and nurse anesthetists earned over $200,000 a year on average in 2021, making them the highest paid occupations. Chief executives and nurse anesthetists earned over $200,000 a year on average in 2021, making them the highest paid occupations. U.S. income by gender : The median male salary in 2021 was $50,391, 27% higher than the median female salary of $36,726. : The median male salary in 2021 was $50,391, 27% higher than the median female salary of $36,726. U.S. salary by metro area and state: Male residents of Washington, D.C. made a median income of $83,567, the highest of any state or territory in the U.S. Arkansas posted the lowest median male income of any state at $40,736. Male residents of Washington, D.C. made a median income of $83,567, the highest of any state or territory in the U.S. Arkansas posted the lowest median male income of any state at $40,736. U.S. median family income : Two-person families have the lowest average family income, earning $75,143 on average. Four-person families earn the most on average by family size with an income of $105,901. : Two-person families have the lowest average family income, earning $75,143 on average. Four-person families earn the most on average by family size with an income of $105,901. U.S. income by age: Americans between 56 to 64 years of age earned $83,812, the highest median income of any age band. Americans between 56 to 64 years of age earned $83,812, the highest median income of any age band. U.S. income by race: Asian Americans had the highest income in 2021, earning a median of $100,572. white Americans earned a median income of $74,932. Average U.S. income in 2021: $97,962 As of 2021, the average U.S. income was $97,962, while the median U.S. income in 2021 was $69,717. When the median is considerably lower than the average, it means that there are outliers on the top end. In short, a few people who make a lot of money boost the average. So $61,937 may be a more accurate representation of typical household earnings. Here's a more in-depth breakdown of what U.S. households are making: Fifty-three percent of Americans earn less than $75,000 to $99,999 per year, the range in which the median U.S. income falls. Just 34% of Americans earn more than $100,000. Average U.S. income versus average U.S. salary With few exceptions, we aren’t reporting the median and average salary in this article. Instead we’re mostly reporting income. The U.S. Census Bureau tracks earnings, composed mostly of salary and wages, and income, which includes all sources of money that people bring in.
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Read More »Lowest and highest paying jobs The industry you work in largely influences your earnings potential. Not surprisingly, most of the top paying occupations require advanced degrees and specialized training. Here are the 10 highest paying occupations and lowest paying careers. It's easy to be jealous of those who have the highest paying jobs. But remember, many of those same people are hundreds of thousands of dollars in debt from having gone to medical or dental school. Will they come out ahead eventually? Maybe. But for many people in the medical field, for example, it takes several decades to recoup that investment. Most U.S. workers don't earn anything close to what the 10 highest-paid professions bring in. And workers in the lowest paying careers really struggle to make a livable wage. U.S. income by gender The gender pay gap persists, with men continuing to out-earn women overall and within the same broad sectors of the workforce. Men earned a median salary of $50,391 in 2021 while women earned $36,726, or 73% of men's salaries. The gender wage gap exists throughout the economy. The gender pay gap is most significant among self-employed workers. Self-employed women make $37,836, just 60% of the $62,880 that self-employed men earn. Gender pay disparity is also particularly pronounced in the private sector. Men employed by private companies have a median salary of $47,865 while women earn $33,740, which is a 70% gender wage gap. The gender income gap exists among government workers, too. Here are the median earnings for men: $57,860 for local government workers
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Read More »U.S. median family income by family size The average family income changes based on the number of people in your household. The more bodies you need to feed and clothe, the harder it is to keep up with your expenses. Here's how median family income in the U.S. income breaks down by family size: U.S. median family income peaks with 4-person families at $105,901 and levels off at around $100,000 for families of 5 or larger. The largest jump in median income occurs between families of three and families of four. The former has a median income of $88,692 while the latter pulls in $105,901. U.S. income by number of wage earners The number of wage earners in a family naturally affects median family income. The median income for families with one wage earner is $60,728 while with two wage earners the median income jumps to $110,349. Families with more wage earners unsurprisingly have a higher median income, although returns diminish above two wage earners. This is likely because high school or college-age children make up for the additional wage earners and bring in much less than their parents. The need for multiple incomes often poses challenges with regard to having children. Many families can't afford childcare, but they also can't afford to slash their household income in half. It's a tricky problem with no particularly good solution at present. U.S. income by age As workers progress in their careers their median income generally rises. But median income by age peaks before declining as Americans near retirement. Here's a breakdown of median U.S. income by age group: Americans aged 45 to 64 earn more money than their younger and older counterparts. Workers under 25 and over 64 earn the least. U.S. income by race Looking at median income by race, Asian Americans earn the most, making $110,572 a year, while Black or African American earners make the least, bringing in a median of $46,774.
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