The Hive Law

What Is A Good Salary Per Year? (How Do You Compare?)

What Is A Good Salary - What Is A Good Annual Salary - What Is Considered A Good Salary - What Is A Good Salary Per Year

What is a good salary per year?

In this article, you’ll learn about:

  • how your income stacks up against the average annual salaries
  • whether your salary is a good salary
  • which professions are the highest earners
  • what regions cost the most and have the highest salaries

… and much more.

Let’s dig in.

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Key Statistics For What A Good Salary Is

  • The median annual income in the US is $41,000.
  • The median salary in the US is $1,041 per week.
  • The average weekly pay for men is $1,144 and $943 for women.
  • The median household income is decreasing by 2.9% per year due to inflation.
  • The median household income in the US is $70,784 (Census Bureau)
  • Bachelor’s Degrees earn 24% more than those with non-college graduates.
  • Master’s Degrees earn 29% more than Bachelor’s Degrees.
  • PhDs earn 23% more than Master’s Degrees.
  • Healthcare jobs earn up to 638% more than the average annual income in the US (Payscale).
  • The areas with the highest average annual salary are Massachusetts and Washington D.C.
  • Maryland, New Jersey, and Massachusetts are the highest median household income states.

What Is A Good Salary?

In the US, a good salary is $78,700 before taxes.

The average monthly expenses per household are $5,111 per month or $61,332 per year.

To cover the average expenses, a good salary is going to be $78,700 per year.

Earning $78,700 places you in the 22% tax bracket.

After taxes, $78,700 turns into $61,386.

A good salary in the US to break even on average expenses is $78,700 per year.

What Is The Average Annual Salary In The US?

The average annual salary in the US is $58,260.

This is the average annual salary across all occupations in the US.

Let’s look at the average annual salary per category of occupation to see what a good salary is.

  • management, professional, and related occupations – $75,868
  • natural resources, construction, and maintenance occupations – $50,128
  • sales and office occupations – $45,084
  • production, transportation, and material moving occupations – $41,964
  • service occupations – $36,764

Really, a good salary is anything that is above average in your industry and for your job title.

What Is A Good Yearly Salary?

A good yearly salary depends on what region of the US you live in.

The average yearly salary in the US is $58,260.

But, let’s look at the average American salary in different regions.

  • Northeast – $77,172
  • West – $76,714
  • Midwest – $69,208
  • South – $62,657

Making more than the average income in your region is a good yearly salary.

The South and Midwest are the cheapest cost of living areas.

Some of the lowest cost of living areas are:

  • Florida
  • Alabama
  • Georgia
  • Oklahoma
  • Mississippi

The Northeast and West are the highest cost of living areas.

Some of the highest cost of living areas in the are:

  • Connecticut
  • New York (i.e., New York City)
  • California (i.e., San Francisco and Los Angeles)
  • Colorado
  • Oregon

What Is The Average Monthly Salary In The US?

The average monthly salary in the US is $4,692.

This is based on the average annual income of $58,260.

Related: How Much Does The Average American Make In A Lifetime?

What Is A Good Monthly Salary?

A good monthly salary is $6,560.

This is taken from a good annual salary of $78,700.

A good monthly salary depends on what region of the US you live in.

The average monthly salary in the US is $4,885.

But, let’s look at the average monthly salary in different regions.

  • Northeast – $6,431
  • West – $6,392
  • Midwest – $5,767
  • South – $5,221

Making more than the average income in your region is a good monthly salary.

What Is A High Salary?

$80,000 is a high salary in the USA.

The average salary is $58,260.

Making $80,000 means you are making 37.3% more than the average salary.

But $80,000 a year still lands you in the middle-class income levels.

What Are The Highest Paying Jobs?

According to the US Bureau of Labor Statistics (BLS), these are the highest-paying jobs.

The median wage in the US pales in comparison to the highest-paying jobs.

These higher salaries are all in healthcare and require:

  • years of experience practicing medicine
  • an extremely high level of education

What Is The Average Income In The US?

The average income in the US is $58,260 per year. 

This means the average income per week is $1,120.

And $4,855 per month. 

What Is The Average Household Income In The US?

The average household income in the US is $70,784 (according to the Census Bureau).

The average household income is $5,898 per month.

What Is A Good Salary To Live On?

What a good salary is to live on depends on the cost of living in your area.

For the average American, a good salary to live on is:

  • $230,000 for a family of 4
  • $41,500 for a single person

What Is A Good Salary For A Family Of 4?

A good salary for a family of 4 is about $230,000.

The median annual expenses for a family of four is $90,100.

With a 22% income tax bracket, the net income for a family of 4 is $176,300.

With $90,100 in expenses, this leaves the family with $86,200.

This allows the family to do things that are important to them, like:

  • invest for retirement
  • take trips with your family
  • invest more in your children
  • spend more time with your family
  • pay down debts (i.e., credit cards, school loans, etc.)

This may seem out of reach for you at the moment.

Let’s say you’re considering going back to school part-time for a salary increase.

This can:

  • make you more desirable to the job market
  • increase your average wages your family makes
  • increase your level of education for a salary increase

What Is A Comfortable Salary For A Family Of 4?

A comfortable salary for a family of 4 is about $116,000.

The median annual expenses for a family of four is $90,100.

A comfortable salary for a family of 4 is $116,000 before taxes.

With a 22% income tax bracket, this income will cover the average expenses of $90,100.

Note that the average household income in America is $70,784.

Earning $116,000 is 63.9% higher than the average household income in the US.

What Is A Good Annual Salary For A Single Person?

A good annual salary for a single person is anything above $41,500.

The median annual expenses for a single person is $32,352.

With a 22% income tax bracket, the net income for a single person is $32,350.

Just being able to pay for your expenses isn’t “a good salary” for a single person.

A good salary for a single person would be $80,000 or more.

With a 22% income tax bracket, the net income for a single person is $62,400.

This would leave them with $30,050 in extra money each year.

What Is A Good Salary For A Single Woman?

A good annual salary for a single woman is anything above $49,400.

The median annual expenses for a single woman is $32,352.

With a 22% income tax bracket, the net income for a single woman is $32,350.

Note that women make 84% of what men earn.

A single woman needs to earn $49,400 to keep up with a man making $41,500.

Is $100,000 A Year Good For A Single Person?

Yes, $100,000 a year is a good salary for a single person.

The median annual expenses for a single person is $32,352.

With a 22% income tax bracket, this income will cover the average expenses of $78,000.

This would leave a single person with $45,650 after expenses and taxes each year.

A single person making $100,000 a year is good because it allows them to:

  • pay down debts
  • build their savings
  • invest for retirement
  • do vacations

What Are Good Annual Incomes In The US?

Let’s look at different income levels to see what a good salary is in the US.

Is $20 An Hour Good?

No, $20 per hour is not good.

The average hourly wage in the US is $29.93.

If you earn $20 per hour, you are earning 67% of the average wages.

Earning $20 per hour is $40,000 per year.

The average salary in the US is $58,260.

You’re earning $18,260 less per year than the average salary.

Is $30,000 A Year Good?

No, $30,000 is not a good salary.

The average salary in the US is $58,260.

You are earning 51% of the average annual salary.

Which is $18,260 less per year than the average salary in the US.

At $30,000 a year, you’re most likely below the living wage in your area.

But $30,000 a year makes you a low earner if your job is full-time.

If you’re a part-time 17-year-old making $30,000 a year, this is really good.

It depends on your experience level, age, and how far out of high school you are.

$30,000 is the minimum wage in some parts of the country.

You should reach out to a recruiter to see about getting a new job.

And talk to them about what skills you can gain to get a higher-paying job offer.

Is $48,000 A Good Salary?

No, $48,000 is not a good salary.

The average salary in the US is $58,260.

You are earning 82% of the average annual salary.

Which is $10,260 less per year than the average salary in the US.

Is $65,000 A Year A Good Salary?

Yes, $65,000 is a good salary.

The average salary in the US is $58,260.

You are earning 12% more than the average annual salary.

Which is $6,740 more per year than the average salary in the US.

Is $75,000 A Year A Good Salary?

Yes, $75,000 is a good salary.

The average salary in the US is $58,260.

You are earning 28.7% more than the average annual salary.

Which is $16,740 more per year than the average salary in the US.

Is $80,000 A Good Salary?

Yes, $80,000 is a good salary.

The average salary in the US is $58,260.

You are earning 37.3% more than the average annual salary.

Which is $21,740 more per year than the average salary in the US.

Is $90,000 A Good Salary?

Yes, $90,000 is a good salary.

The average salary in the US is $58,260.

You are earning 54.5% more than the average annual salary.

Which is $31,740 more per year than the average salary in the US.

Is $130,000 A Year A Good Salary?

Yes, $130,000 is a good salary.

The average salary in the US is $58,260.

You are earning 131% more than the average annual salary.

Which is $71,740 more per year than the average salary in the US.

Is $140,000 A Good Salary?

Yes, $140,000 is a good salary.

The average salary in the US is $58,260.

You are earning 140% more than the average annual salary.

Which is $81,740 more per year than the average salary in the US.

FAQs About What Is A Good Salary

What Is Considered A High-Paying Job?

A high-paying job is anything that’s more than the average income of $29.13 per hour.

This is above the average hourly wage in the US.

What Is Considered A High Salary?

$80,000 a year is considered a high salary.

A good salary for a single person would be $80,000 or more.

With a 22% income tax bracket, the net income for a single person is $62,400.

You are earning 37.3% more than the average annual salary.

Which is $21,740 more per year than the average salary in the US.

What’s The National Average Salary?

The national average salary is $58,260 per individual.

This is for a full-time job.

What Is A Good Starting Salary?

A good starting salary is anything above $55,260.

$55,260 is the average starting salary for college graduates.

Any salary higher than that is a good starting salary.

What Is The Average Paycheck In America?

The average paycheck in America is $1,120.

Since the average salary in America is $58,260, we divide that by 52 weeks.

Which gives us an average paycheck of $1,120.

If you are paid every two weeks, the average paycheck in America is $2,240.

What Percentage Of Americans Make Over $100,000 A Year?

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