Have you ever wondered about the average worker’s salary in the US? There are a lot of factors that you need to take into consideration, including occupation, industry, education, gender, and location. There are some other factors like ethnicity, as well as the designation in which the individual is working. Today we are going to talk about the information about the wage rates in the USA so that you can have proper insight regarding the same.
The wage information of the US workers
According to the recent report of the Bureau of labor statistics, the average age of the workers in the United States is $905 every week. It accounts for around $47,000 every year if we consider 40-hour work every week. This data is as per 2019, and wages have gone up by 2.7 %. But the salaries can vary based on the geographical location as well as the occupation of the individual. For example, two people in the same post can have a difference in salary because of the geographical location. People who are working in professional management get around $60,000 on an annual basis, but the people in the service industry get $30,000 annually. In the urban areas, the salary is more than the people in the rural areas.
- The salary difference between men and women in the USA
According to the Bureau of labour statistics, there has been a difference in the earnings of men and women. The average earning of a man is around $52,000 annually, but in comparison, women got only $41,000. If we considered the male earning as 100% the female earnings with 18.3% of it. We should also understand that race and ethnicity are some of the significant factors which are to be considered regarding earning. In the case of the black men, they had an earning of approximately $40,000 in comparison to the white men who had an earning of $53,000 annually. Even though it seems unfair, it is the current statistics according to 2019. In the Hispanic wage-earning segment, the approximate salary is 36000 dollars, and the Asian segment salary is approximately $60,000.
- The average salary based on age
It is one of the significant factors when it comes to the approximate wage on an annual basis. According to the age of men between 55 to 64, the yearly earning is around $61,000. In the gender of women who are between the age range of 35 and 44, the approximate earning is about 48000 dollars on an annual basis.
- Average salary information based on education
When we talk about the data of the current scenario, it is essential to complete your training to get a better payment. They should be the medium earning of 30000 dollars for individuals with a high degree. The high school graduates will be able to get an annual range of 38000 dollars. If you are a college graduate with a completed bachelor’s degree, then the salary range can go as high as $70,000 annually.
Tips for finding the average salary job
- The primary thing that you need to understand is that the power of negotiation is essential. You should be able to negotiate a salary with the new employer and even ask for a raise with the current job. You need to evaluate various careers and know what you are good at so that you can get the best salary.
- Next, you will have to know about the average salary in the geographical location and change if needed. The pay will vary from one place to the other therefore you should be careful about the same. You should also do proper research on the various states and cities so that you can get an idea regarding the approximate salary of the location.
- The third tip is to go for the list of salary according to the profile that you would want to work in. You can find numerous salary calculators online so that you can have an accurate idea about how much you can earn on an average basis. Ups is one of the best paying company as per the testimonials of the former employees of ups can be found upsers homepage
Comparison of the salary to the lifestyle cost
There are numerous calculators that you will be able to use so that you know which pay is fit for your work quality. There is a specific lifestyle cost calculator that you can use to find out the approximate salary that is good for a particular geographical location. If you want, you can also go through the platforms like Glassdoor to understand the calculation, and it will provide you with accurate facts. Did you even know about the 401k plan, if not check it out
- The calculator will give you the personalized salary is to mention based on the jobs in an area that we have currently. All you have to do is to provide the information regarding the years of experience company as well as the skills you have. You can also add the details regarding the job designation as well as the location, and the tool will tell you whether your salary is higher or lower than the ideal market scenario.
- There are also some other tools like the salary explorer so that you can get an insight into various jobs and get the salary as per your convenience. It is a good thing that the minimum wage had an increase of 11 dollars, and there will be even more increase in the next year. When we talk about the hourly rate of pay in the US, there will be a salary of 7.5 dollars every hour. There are many states and cities in which you will be able to get even higher hourly rates, which will be minimum for the workers. There will be an increase in the minimum wage in the year 2020, which will be giving a positive impact on the economy.
- You should get an insight into the wage rates in the USA, and the ideal hourly wage is around 27.16 dollars. The fact that the hourly earning is going up is indeed a good sign. Even in the private sector, there is an increase in the average hourly earnings, and it is good because the private sector comprises 80% of the workforce.