A complete guide to the average US salary: What you should be earning now
on January 20, 2023|
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How much should you be earning in the US? Do you need help comparing salaries across different jobs and regions? This article is your comprehensive guide to understanding the average US salary and what it means for your career. With our help, you’ll find out what you should be earning now and how to ensure your salary keeps up with inflation.
Introduction: What Is The Average US Salary?
The average US salary is $52,863. This means that the average worker in the United States earns just over $50,000 a year. However, this number can vary greatly depending on several factors, including location, experience, and education.
For example, workers in New York City earn an average salary of $81,849, while those in rural areas earn an average of just $37,176. And workers with a college degree earn an average wage nearly double that of workers without a degree.
So, what does this all mean for you? If you’re looking to compare your salary to the average US worker, keeping all of these factors in mind is essential. Otherwise, you could be comparing apples to oranges.
How Much Do You Need To Earn To Be Above Average?
To be above average in the United States, you must earn at least $48,000. This is based on the median household income, the middle number in a list of all household incomes. Half of all households earn more than the median, and half earn less.
Salaries By Industry
The average salary in the United States varies significantly by industry. Here is a look at what you can expect to earn in various sectors based on data from the Bureau of Labor Statistics:
- Healthcare: $67,530
- Education: $57,910
- Business and Financial Operations: $67,560
- Construction: $58,430
- Manufacturing: $66,020
Of course, these are just averages, and your specific salary will be determined by factors such as experience, education level, and location. For instance, wages in industries like healthcare and business tend to be higher in major metropolitan areas.
Salaries By State
The average salary in the United States varies significantly by state. Here is a complete guide to the average salaries by state, so you can see what you should earn now.
- Alabama: $46,265
- Alaska: $60,915
- Arizona: $49,462
- Arkansas: $43,142
- California: $61,818
- Colorado: $55,387
- Connecticut: $62,156
Salaries By Age Group
The median salary for Americans of all ages is $51,939, but there is a wide range in earnings by age group. The youngest workers, aged 16-24, earn a median salary of $30,638. This increases steadily with age, reaching a median of $46,874 for workers aged 45-54. earners aged 55 and over have the highest median salary at $58,498.
There are also significant differences in earnings between men and women. The median salary for men is $56,258, while for women, it is $46,170. This gender pay gap has been gradually closing but still exists across all age groups.
Factors That Affect Salaries
Several factors affect salaries in the United States. The most apparent factor is experience. Generally, the longer you have been working in a particular field, the more you will earn. Education is also a significant factor, as those with higher levels of education will often earn more than those without. The type of company you work for can also play a role, as larger companies tend to pay more than smaller ones. Finally, where you live can also affect your salary, as living costs vary from place to place.
The Highest and Lowest Paying Jobs in the US
The United States is home to some of the highest-paying jobs in the world. But, it also has a significant number of low-wage positions.
The Highest Paying Jobs:
- Anesthesiologists: $269,6002.
- Surgeons: $255,1103.
- Oral and maxillofacial surgeons: $242,3704.
- Obstetricians and gynaecologists: $235,2405.
- Orthodontists: $229,3806.
- Psychiatrists: $216,0907.
- Physicians and surgeons: $214,7008.
- Family and general practitioners: $208,5609.
- Dentists: $208,00010.
- Chief executives: $201,440
The Lowest Paying Jobs:
- Dishwashers: $21,7802.
- Janitors and building cleaners: $24,1903.
- Waiters: $24,8804. Maids and housekeeping cleaners: $25,5105.
- Food service managers: $26,5906. Bartenders: $27,560
Tips on Negotiating Your Salary
Salary negotiation is a critical part of any job search, but it can be challenging to know where to start. Before you start negotiating, it’s essential to understand what the average salary for your position is in your area. Use websites like salary.com or Payscale.com to get an idea of what others in your field are earning. Once you have a ballpark figure, use that information to help you negotiate a higher salary. This guide provides tips on negotiating your salary, from understanding the average salary in your field to preparing for standard salary negotiation scenarios.
Here are some other tips for negotiating your salary:
Know Your Worth:
Be confident in what you’re worth and know how to justify a higher salary. Demonstrate why you’re worth more by citing specific examples from your work history or describing your skills and achievements in detail.
Be Flexible:
Be bold and flexible when it comes to salaries and working hours. Let your employer know if you’re eligible for overtime or flexible hours. It could lead to a pay increase or more time off work.
Come Up with A Plan:
Once you’ve determined what you want in terms of pay, devise a plan for achieving it. Make sure you have all the facts—including your current salary and the amount you wish to at hand so that you can make an educated argument for why you deserve a raise
Pay Difference between Men and Women
The gender pay gap is the difference in median earnings between women and men. In the United States, women earn about 79% of what men earn, according to the U.S. Census Bureau. The gender pay gap varies by race and ethnicity, with white women making about 74% of what white men earn and Hispanic and Latina women earning about 54% of what Hispanic and Latino men earn.
Several factors contribute to the gender pay gap, including discrimination, occupational segregation, and the prevalence of women in part-time work. Some research suggests that the gender pay gap is more significant for women with higher levels of education. However, other research finds that the pay gap is smaller for college-educated women than for those with less education. The gender pay gap has been declining, but progress has been slow. At the current rate of change, it will take until 2059 for women to reach parity with men in earnings.
Strategies to Increase Your Earnings
If you’re looking to increase your earnings, there are several strategies you can employ. First, take a close look at your resume and ensure it’s up-to date-and free of any errors. Next, research the going rates for your position in your area and ensure you’re paid fairly. If not, don’t be afraid to ask for a raise.
In addition to negotiating a higher salary, you can also look at ways to earn more money through bonuses or commission-based compensation. If you’re self-employed, consider ways to increase your rates or the number of clients you work with. Finally, think about ways to boost your productivity to get more done in less time and earn more money.
Final Thoughts
Knowing more details about the average salary in your field of work is a great way to ensure you are getting paid fairly. This guide has provided an overview of the average salaries for different positions across the United States. It’s important to remember that these averages can vary widely depending on several factors, such as location, experience level, and even industry. If you’re not earning what you should be based on this information, consider asking for a raise or exploring other career options!