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Sharing Economy / Gig Economy Money. It’s the #1 reason why we go to work each day. We need money to survive and to live the lives we want to live. The career paths that we choose, the skill sets we possess, the opportunities that we pursue, and other factors will dictate how much money that we make in our lifetimes. No matter how much money we earn, we always wish we could make a bit more.
Financial matters are usually a taboo topic in most settings, which makes it hard to determine how our paychecks stack up compared to our peers. If you’re curious, maybe it’s best to compare your wages to the average salary by age in the US.
We recently stumbled upon a post on SmartAsset.com that looks at the average salary based on age group. The information is based on data for full time, salary earners from the Bureau of Labor Statistics.
In the US, here is average salary by age:
- Ages 16-19
- $420/Week
- $21,840/Year
- Ages 20-24
- $528/Week
- $27,456/Year
- Ages 25-34
- $758/Week
- $39,416/Year
- Ages 35-44
- $950/Week
- $49,900/Year
- Ages 45-54
- $962/Week
- $50,024/Year
- Ages 55-64
- $954/Week
- $49,608/Year
- Ages 65 And Older
- $888/Week
- $46,176/Year
How does your salary compare? Are you close to the average based on your age group? This is useful information when you’re hunting for a job in your career path. At the same time, it can only be used as a baseline for focusing in on your salary demands because there are so many variables that must be calculated.
Obviously some jobs pay more than others. The career that you ultimately choose will dictate how much you will actually make. Other pay factors may include gender, race, education level, experience, location, cost of living, and employer. These are things to consider when negotiating your salary or asking for a raise.
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One good way to determine how much you should earn is to do your research on JobMonkey.com. Alternatively, online salary calculators will help you determine a fair wage based on your profession and location. If you feel that you deserve a higher wage, it might be time to negotiate a raise with your boss.
If you’re curious about how much different jobs pay, head on over to JobMonkey.com where you can learn about all sorts of cool jobs and careers. This is a fantastic starting point for anyone searching for a job.
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