average salary in houston by age

 average salary in houston by age

ow are you doing, earnings-wise, compared to other people the same age? Of course, the answer largely depends on where you live and what you do. But knowing the median salary of people the same age can tell you if you’re generally keeping up, pacing ahead or lagging behind your peers. And knowing what older generations earn can give you a sense of what to aim for – and look forward to.

Are you under-earning for your age group? Read on for a closer look at the median salary by age for full-time workers in the U.S. in the second quarter of 2020. (With the higher unemployment rate of lower-income sectors, these numbers are slightly higher than before the pandemic.) We got this data from the Bureau of Labor Statistics (BLS), which tracks Americans’ earnings by several demographic factors, including age. However you compare to other people your age, remember that what you save is more important than what you earn – and how you invest it can be even more significant. For help growing your savings, talk to a financial advisor. 

The Average Salary 16-19

As you may imagine, age group with the lowest salary is the one comprised entirely of teenagers, many of whom typically only work summer jobs. According to BLS data, the median salary of 16- to 19-year-olds is $506 per week, which comes out to $26,312 per year. That’s the median across all races, genders and education levels. (The BLS provides medians rather than averages, since an average can be skewed by very high and very low numbers.)

The Average Salary 20-24

Earnings increase beginning in one’s 20s, an age group that includes some new college graduates. The median salary of 20- to 24-year-olds is $640 per week, which translates to $33,280 per year. Many Americans start out their careers in their 20s and don’t earn as much as they will once they reach their 30s.

The Average Salary 25-34

For Americans ages 25 to 34, the median salary is $918 per week, or $47,736 per year. That’s a big jump from the median salary for 20- to 24-year-olds. As a general rule, earnings tend to rise in your 20s and 30s as you start to climb up the ladder. Also, this set includes many people who received professional degrees from graduate schools, further bringing up salaries.

The Average Salary 35-44

The median salary of 35- to 44-year olds is $1,135 per week, or $59,020 per year. That said, the number conceals considerable variation by gender. For example, male 35- to 44-year-olds earn a median salary of $1,239 per week while women in the same age bracket earn a median $1,011 per week.