Although at times it might not seem like it, salaries and wages have been gradually rising in the U.S. year after year. A number of factors play into individual salaries, from age to location to career field.
If you’re wondering how your earnings compare with the rest of the U.S., as well as others in Texas, we’ve crunched the official numbers to produce a comprehensive breakdown of average salaries in the country in 2024. Using data from the U.S. Bureau of Labor Statistics and the U.S. Department of Labor, we’ve split salary data by age, race, gender, occupation, state and educational background and analyzed the results to see who earns what in the U.S.
National average income:The national average annual salary in the U.S. in the fourth quarter of 2023 was $59,384.
Average salary by age:The highest average earners are ages 35 to 44, earning 13.8% more than the national average salary.
Average income by state:Mississippi is the lowest-earning state, with an average income of $48,048, and Massachusetts is the highest-earning state, with an average of $86,840.
Average salary by occupation:The highest earners in the U.S. in 2022 were cardiologists ($421,330), and the lowest earners were shampooers ($27,870).
Average income by race:The lowest earners in the U.S. were Hispanics and Latinos, with an average of $45,968, and the highest earners were Asians, with an average of $90,012.
Average family income:The average family household income was $74,755 in 2022.
Average income by gender:The gender pay gap decreased 0.7% in the past year, but between 2021 and 2022, it grew 1.3%.
Average salary by education:Full-time workers over 25 years old without a high school diploma earned an average of $47,580 per year.
Wage growth vs. inflation:The average salary grew 5.4%, while there was a gain of 3.2% in the Consumer Price Index for All Urban Consumers.
What is the median annual salary in Texas?
The median annual salary in 2023 for Texas was $68,744, nearly $10,000 more than the national average salary. Texas ranked 12th among the states.
As of Apr 30, 2024, the average annual pay for a National Average in Texas is $66,594 a year. Just in case you need a simple salary calculator, that works out to be approximately $32.02 an hour. This is the equivalent of $1,280/week or $5,549/month.
As a rule of thumb, a good salary in Los Angeles is between $100k and $200k gross per year. Based on the cost of living in Los Angeles, this should come down to a minimum of $76,710 yearly after taxes.
What's considered a “good” salary in Texas depends on your household size and lifestyle, but most Texans make between $45,000 and $100,000 annually. Texas cities have differing costs of living, of course — Austin is much pricier than Amarillo — so where you live in the Lone Star State also matters.
Under their guidelines, a family of four is considered impoverished if they earn $30,000 or less per year. That number is slightly higher in Alaska and Hawaii, which tend to have higher living expenses.
What is the average middle class income? In 2024, a large U.S. city's middle-class income averages between $52,000 and $155,000, with the median household income across all 345 cities at $77,345, making middle-class income limits fall between $51,558 and $154,590, SmartAsset noted.
As of Apr 30, 2024, the average hourly pay for an American in the United States is $28.16 an hour. While ZipRecruiter is seeing hourly wages as high as $66.11 and as low as $7.93, the majority of American wages currently range between $15.87 (25th percentile) to $32.93 (75th percentile) across the United States.
We've identified 10 cities where the typical salary for a 25 Hr job is above the average in Texas. Topping the list is Harlingen, with San Angelo and Fort Worth close behind in second and third. Fort Worth beats the Texas average by 18.1%, and Harlingen furthers that trend with another $8,008 (21.0%) above the $38,132.
One adult with no children can live comfortably in these Texas cities on a salary of about $75,000, SmartAsset determined. A family would need around $180,000 or more.
As of Apr 25, 2024, the average hourly pay for a 40K in Texas is $18.88 an hour. While ZipRecruiter is seeing salaries as high as $18.59 and as low as $15.68, the majority of 40K salaries currently range between $17.45 (25th percentile) to $18.37 (75th percentile) in Texas.
If you make $75,000 a year living in the region of Texas, USA, you will be taxed $15,006. That means that your net pay will be $59,995 per year, or $5,000 per month.
Introduction: My name is Patricia Veum II, I am a vast, combative, smiling, famous, inexpensive, zealous, sparkling person who loves writing and wants to share my knowledge and understanding with you.
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