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2024 Average Salaries by Age
The trend for salary by age looks like a bell curve. Here is a chart showing that based on weekly and annual income:
| Age Group | Weekly Income | Annual Income |
| 16-19 years | $622 | $32,344 |
| 20-24 years | $758 | $39,416 |
| 25-34 years | $1,080 | $56,160 |
| 35-44 years | $1,303 | $67,756 |
| 45-54 years | $1,275 | $66,300 |
| 55-64 years | $1,244 | $64,688 |
| 65+ years | $1,055 | $54,860 |
According to this table, salary tends to increase with age. However, that upward trend stops around 50 or 55 years old.
Average Salaries by Gender
Looking at the same BLS data set from the previous section, you can slice the data based on gender. It shows that even in the modern age, the gender pay gap remains an issue:
| Age Group | Annual Income (Men) | Annual Income (Women) | Women Income as Percentage of Men Income |
| 16-19 years | $34,268 | $28,964 | 85% |
| 20-24 years | $40,664 | $37,700 | 93% |
| 25-34 years | $58,968 | $53,196 | 90% |
| 35-44 years | $72,956 | $60,944 | 84% |
| 45-54 years | $72,852 | $59,540 | 82% |
| 55-64 years | $72,176 | $57,252 | 79% |
| 65+ years | $61,204 | $48,932 | 80% |
This chart shows that women starting out in the workforce initially make close to their male counterparts. However, as they age, they go from 90%-95% to 80%-85%.
Average Salaries by Education Level
The BLS’ most recent data on education and income shows a steady curve upward, indicating that, in general, more education leads to more income. The opposite can be said about the connection between education and employment, with unemployment being higher for workers with less education.
Here is a chart that breaks down these concepts — income and unemployment — by level of education obtained:
| Education Level | Weekly Income | Annual Income | Unemployment Rate |
| Less than high school diploma | $682 | $35,464 | 5.5% |
| High school diploma | $853 | $44,356 | 4% |
| Some college, no degree | $935 | $48,620 | 3.5% |
| Associate degree | $1,005 | $52,260 | 2.7% |
| Bachelor’s degree | $1,432 | $74,464 | 2.2% |
| Master’s degree | $1,661 | $86,372 | 1.9% |
| Professional degree | $2,080 | $108,160 | 1.4% |
| Doctoral degree | $2,083 | $108,316 | 1% |
Average Salaries by Job and Industry
Salaries also differ depending on the job and industry. The BLS provides a thorough breakdown of salary along these lines. Here are some of the roles mentioned in the BLS report:
| Role | Average Annual Salary |
| Lawyer | $163,770 |
| Marketing manager | $158,280 |
| Sales manager | $150,530 |
| Veterinarian | $129,110 |
| Software engineer, web developer or programmer | $124,940 |
| Information security analyst | $119,860 |
| Engineer | $107,170 |
| Education and child care administrator | $103,370 |
| Psychologist | $96,190 |
| Financial specialist | $92,290 |
| Registered nurse | $89,010 |
| Farmer, rancher or agricultural manager | $83,790 |
| Human resources worker | $74,060 |
| Police officer | $68,580 |
| Firefighter | $56,310 |
Income Brackets in the United States
After learning about average salary across a variety of factors, you may be wondering how common your wage is. Here is a breakdown of the percentage of Americans who fall into each income bracket:
| Income Bracket* | Percentage of Americans |
| Under $15,000 | 8.3% |
| $15,000-$24,999 | 7.4% |
| $25,000-$34,999 | 7.6% |
| $35,000-$49,999 | 10.6% |
| $50,000-$74,999 | 16.2% |
| $75,000-$99,999 | 12.3% |
| $100,000-$149,999 | 16.4% |
| $150,000-$199,999 | 9.2% |
| Over $200,000 | 11.9% |
*Based on household income, not individual income
As you can see, almost half of American households fall in the middle income brackets, making between $50,000 and $150,000.
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The Bottom Line
It’s true that U.S. salaries vary by age. However, they also vary for other reasons, including job, education and industry. Employers should take all of this salary data into consideration, using it to determine fair pay based on cost of living and experience.
Frequently Asked Questions About Average Salaries by Age
Research from Statista indicates that 21.1% of workers in the U.S. make over $150,000 per year.
Upper-class workers make at least $150,000 per year.
Employees between the ages of 35 and 44 years old are in their peak earning years, according to the U.S. Bureau of Labor Statistics.
If you have questions about this page, please reach out to our editors at editors@marketwatchguides.com.
