Average Salary by Age (2024 Salary Guide) (2024)

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:

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:

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:

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:

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:

*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.

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.