This report looks at the median salary in the USA broken down by various demographics. Please note that the majority of these statistics focus on wages rather than the overall compensation package.
Median income by year in the USA
The median US income is $67,521
Since 1972, this has grown 596% from $9,697
Over the decades, wage growth has stalled:
From 1972 – 1980, wages grew 82.63%
From 1981 – 1990, wages grew 56.98%
From 1991 – 2000, wages grew 39.38%
From 2001 – 2010, wages grew 16.69%
From 2011 – 2020, wages grew 34.90%
Year
Median Income
1972
$9,696.94
1973
$10,512.04
1974
$11,196.92
1975
$11,799.89
1976
$12,685.91
1977
$13,571.89
1978
$15,064.05
1979
$16,461.06
1980
$17,709.98
1981
$19,074.07
1982
$20,170.97
1983
$20,884.85
1984
$22,414.97
1985
$23,617.90
1986
$24,896.81
1987
$26,061.18
1988
$27,224.93
1989
$28,905.97
1990
$29,943.02
1991
$30,125.81
1992
$30,636.15
1993
$31,241.28
1994
$32,264.17
1995
$34,075.74
1996
$35,492.29
1997
$37,005.25
1998
$38,884.82
1999
$40,695.87
2000
$41,989.89
2001
$42,228.04
2002
$42,409.23
2003
$43,317.77
2004
$44,333.75
2005
$46,326.22
2006
$48,200.88
2007
$50,232.63
2008
$50,302.65
2009
$49,777.12
2010
$49,276.21
2011
$50,053.58
2012
$51,017.21
2013
$51,939.25
2014
$53,656.66
2015
$56,515.94
2016
$59,038.75
2017
$61,371.89
2018
$63,179.34
2019
$68,702.36
2020
$67,521.00
Median starting salary by degree
Those with a doctoral degree have the highest median starting salary
This is 2.5 times more than the median starting salary of a full-time worker that only has a high school diploma
Despite students needing to borrow more than twice as much to complete a master’s degree when compared to a bachelor’s degree, the average salary is $12,480 more
The average master’s student will recoup this difference in 3.72 years
A master’s degree holder is also less likely to be unemployed than a bachelor’s degree holder
Degree
Median Starting Salary
Unemployment Rate
Doctoral degree
$98,436
2.5%
Professional degree
$98,020
3.1%
Master’s degree
$80,340
4.1%
Bachelor’s degree
$67,860
5.5%
Associate’s degree
$48,776
7.1%
High school diploma
$40,612
9.0%
Median salary by degree
Across all levels of education, male employees earn more than female employees
Those with a professional degree – such as a law or medical degree – earn the most on average
A man with no high-school diploma earns more than a woman with a high-school diploma
Similarly, a man with a high school diploma earns more than a woman with an associate’s degree
Type of Degree
Male
Female
Less than high school
$34,000
$24,500
High school
$45,600
$32,600
Some college, no degree
$51,700
$38,800
Associate degree
$56,700
$41,500
Bachelor’s degree
$75,200
$56,700
Master’s degree
$99,600
$66,700
Doctoral degree
$115,800
$95,200
Professional degree
$135,400
$99,800
Median salary by race
Hispanic workers earn 78.9% what the average US worker earns
Black workers earn 80.5% what the average US worker earns
White workers earn 102.7% what the average US worker earns
Asian workers earn 133.5% what the average US worker earns
Group
Annual Salary
Overall
$57,200
Black
$46,072
White
$58,760
Hispanic
$45,136
Asian
$76,336
Median salary by gender
White women earn 82.4% of what white males earn
Black women earn 94.8% of what Black males earn
Asian women earn 83.5% of what Asian males earn
Hispanic women earn 85.0% of what Hispanic males earn
Group
Men
Women
Overall
$61,672
$51,792
Black
$47,268
$44,824
White
$63,544
$52,364
Hispanic
$47,684
$40,508
Asian
$81,796
$68,276
Median salary by age
16 to 24 year olds who enter the workforce have a lower median salary than any other age group
This is generally because they are the least experience, and many of the younger ones will not have attended college and will therefore not be as highly educated
From there, the amount earned grows with age (and experience) up until the age of 65 and over
Those between the age of 55 and 64 earn more than any other age group on average
Those aged 65+ earn significantly less than those between the ages of 55 and 64
This is partly due to the fact that those who can afford to will retire and those with lower incomes who cannot afford to retire will continue working
Age Group
Overall
Men
Women
16 – 24
$37,284
$39,052
$35,880
25 – 34
$52,936
$56,420
$50,440
35 – 44
$63,596
$69,108
$57,824
45 – 54
$64,428
$72,228
$57,096
55 – 64
$63,336
$72,436
$54,288
65+
$54,184
$62,400
$48,152
CEO to employee salary ratio
CEO pay has skyrocketed 1,460% since 1978
More than 80% of CEO pay is stock related
CEOs were paid 236 times as much as a typical worker in 2021
This is lower than the peak of 393:1 in 2000
But still significantly higher than in previous decades:
In 1965, the ratio was 15:1
In 1989, the ratio was 44:1
Median salary by State
DC is the State or territory with the largest median salary in the country
The median salary in DC is more than twice that of the median salary in the Mississippi – the state with the lowest median salary
In fact, the median salary in DC is more than double the median salary in 24 states
Massachusetts is the state with the 2nd highest median salary at $58,531 – more than $20,000 less than Washington DC
