The $300k-a-year income bracket is a good salary.
The average income distribution for full-time employees is:
- $61,417 for men
- $50,982 for women
Men are higher income earners with an average wage that’s 20% higher than women.
So, looking at the income inequality, making $300k in yearly income puts:
- men at 488% higher than the average income
- women at 588% higher than the average income
The average cost of living in the U.S. is:
- $39,846 if you’re single
- $60,673 if you’re supporting two adults
Let’s look at some average expenses:
Due to the pandemic, more people are able to work remotely.
This means that people can move out of very expensive places like:
- New York
- Massachusetts
- Maryland
- Connecticut
- Hawaii
- San Francisco, California
- New Jersey
- New Hampshire
- West Virginia
(In these expensive areas, $300k a year puts you in the upper middle class.)
And move into lower cost-of-living areas to make $300k a year good for them.