Here’s How Much Americans Make at Every Age — Do You Measure Up?

While strides have been made toward equal pay among all genders and races, statistics reveal that even in 2019, Americans are still not paid equally. Women have made gains in their decades-long fight for pay equity, but disparities remain. According to 2017 data from the Institute for Women’s Policy Research, wages for white females in the U.S. averaged about 82% of what white males earned. The wage gaps are even greater for women of color: Black females earned only 65.3% of the average white male’s wage in 2017, while Hispanic females took in only 61.6%. The closest to pay equity among nonwhite women were Asian women, who earned 93.5% of the average white male’s pay — but even their earnings only came to 75.5% of what Asian males averaged.

Men and women both see an increase in earnings after the 16-24 age group. However, wages peak for women in the 35 to 44 age group, while wages peak for men between the ages of 45 and 64. After that, wages begin to decline for both genders.

To see how much Americans make at every age, GOBankingRates looked at the Bureau of Labor Statistics’ (BLS) Weekly and Hourly Earnings from its Current Population Survey for different age groups, genders and ethnicities. The BLS data tracks quarterly wages from the beginning of 2000 through the first two quarters of 2019. GOBankingRates looked at the average annual wage for each age group across all ethnicities and genders and then provided separate breakdowns for men and women and four major racial/ethnic groups: whites, Blacks, Latinos and Asians. Weekly median earnings were multiplied by 52 to get median annual earnings.

Last updated: Sept. 2, 2020

16 to 19 Years Old

• Annual Salary: $24,232

20 to 24 Years Old

• Annual Salary: $30,810

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25 to 34 Years Old

• Annual Salary: $42,952

35 to 44 Years Old

• Annual Salary: $53,430

45 to 54 Years Old

• Annual Salary: $53,092

55 to 64 Years Old

• Annual Salary: $52,676

65 Years Old and Older

• Annual Salary: $47,476

Pay Broken Down by Age and Gender

Women have seen some growth in pay equity since the late 1970s, when full-time, wage-earning women earned 62% of what men were paid. However, GOBankingRates found that in 2017, women still only earned 82% of what men made, according to the BLS. Per that same data, women made the lowest wages between the ages of 16 and 24 and hit their highest pay in the 35 to 44 age group — which, as you’ll see, is a trend that’s held steady.

16 to 19 Years Old

• Annual Salary for Men: $25,870
• Annual Salary for Women: $22,126

20 to 24 Years Old

• Annual Salary for Men: $32,136
• Annual Salary for Women: $28,860

25 to 34 Years Old

• Annual Salary for Men: $45,968
• Annual Salary for Women: $40,014

35 to 44 Years Old

• Annual Salary for Men: $59,488
• Annual Salary for Women: $47,606

45 to 54 Years Old

• Annual Salary for Men: $60,398
• Annual Salary for Women: $46,150

55 to 64 Years Old

• Annual Salary for Men: $60,632
• Annual Salary for Women: $45,630

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65 Years Old and Older

• Annual Salary for Men: $53,872
• Annual Salary for Women: $42,588

Pay Broken Down by Age and Race

In addition to gender differences, there are also significant disparities in wages for different races and ethnicities. In every age group, white Americans make more, sometimes significantly more, than their same-age or -gender peers of color. Note that the BLS only provides data for four major race groups. For this section, the number of age groups was narrowed down to three: 16- to 24-year-olds, 25- to 54-year-olds and 55-year-olds and older.

16 to 24 Years Old

• Annual Salary for Asian Americans: $35,256
• Annual Salary for Black or African Americans: $24,960
• Annual Salary for Hispanic or Latino Americans: $28,262
• Annual Salary for White Americans: $30,550

25 to 54 Years Old

• Annual Salary for Asian Americans: $65,546
• Annual Salary for Black or African Americans: $39,598
• Annual Salary for Hispanic or Latino Americans: $37,622
• Annual Salary for White Americans: $50,518

55 Years Old and Older

• Annual Salary for Asian Americans: $51,012
• Annual Salary for Black or African Americans: $40,092
• Annual Salary for Hispanic or Latino Americans: $38,012
• Annual Salary for White Americans: $53,482

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Methodology: GOBankingRates determined how much Americans make at every age by sourcing the Bureau of Labor Statistics’ (BLS) Weekly & Hourly Earnings from its Current Population Survey for a variety of demographics, including different genders, racial and ethnic groups and age groups. Data from the BLS covers the four quarters of each year from 2000 through the first two quarters of 2019. Weekly median earnings were multiplied by 52 to get average annual earnings. All data compiled Aug. 24, 2019.

About the Author

Jordan Rosenfeld

Jordan Rosenfeld is a freelance writer and author of nine books. She holds a B.A. from Sonoma State University and an MFA from Bennington College. Her articles and essays about finances and other topics has appeared in a wide range of publications and clients, including The Atlantic, The Billfold, Good Magazine, GoBanking Rates, Daily Worth, Quartz, Medical Economics, The New York Times, Ozy, Paypal, The Washington Post and for numerous business clients. As someone who had to learn many of her lessons about money the hard way, she enjoys writing about personal finance to empower and educate people on how to make the most of what they have and live a better quality of life.

 

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