Full-time workers in the U.S. earn a median income of $908 per week, or $47,216 per year.
But income can vary greatly depending on how old you are. Women hit their peak earning age at 44, while men achieve their highest earnings 11 years later at 55, a recent PayScale report found.
How does your salary compare? Here's the median amount Americans earn at every age, according to data from the Bureau of Labor Statistics for the second quarter of 2019.
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Here's a closer look at the data:
- 16 to 19 years: $460 weekly/$23,920 annually
- 20 to 24 years: $589 weekly/$30,628 annually
- 25 to 34 years: $837 weekly/$43,524 annually
- 35 to 44 years: $1,022 weekly/$53,144 annually
- 45 to 54 years: $1,025 weekly/$53,300 annually
- 55 to 64 years: $1,099 weekly/$57,148 annually
- 65 years and older: $949 weekly/$49,348 annually
The numbers are drastically different when broken down by gender. Here's how much men earn in every age group:
- 16 to 19 years: $507 weekly/$26,364 annually
- 20 to 24 years: $615 weekly/$31,980 annually
- 25 to 34 years: $893 weekly/$46,436 annually
- 35 to 44 years: $1,133 weekly/$58,916 annually
- 45 to 54 years: $1,153 weekly/$59,956 annually
- 55 to 64 years: $1,158 weekly/$60,216 annually
- 65 years and older: $1,039 weekly/$54,028 annually
And here's the breakdown for women:
- 16 to 19 years: $407 weekly/$21,164 annually
- 20 to 24 years: $548 weekly/$28,496 annually
- 25 to 34 years: $779 weekly/$40,508 annually
- 35 to 44 years: $908 weekly/$47,216 annually
- 45 to 54 years: $899 weekly/$46,748 annually
- 55 to 64 years: $869 weekly/$45,188 annually
- 65 years and older: $881 weekly/$45,812 annually
As evidenced above, the gender pay gap is still a reality for many women. Overall, women earn just 81.4% of the amount their male counterparts make, according to BLS data.
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April 2, 2019 marked Equal Pay Day this year, which represents how far into the new year women symbolically had to work to earn as much as men did in the previous year. The disparity is even wider for women of color: For Black women, Equal Pay Day will be August 22, for Native American women, it's September 23, and for Latina women, it's not until November 20.
The pay gap starts early. Women begin their careers earning a median of $40,400 per year, while men take home a median of $53,500 at the same age, PayScale found. And although women's earnings initially grow faster than men, they start to plateau much earlier. The median wage for a 38-year-old woman is $64,000 — the same as a 27-year-old man.
The disparity stems from a variety of factors, including a lack of representation and occupational segregation. "We see women of all races and ethnicities and men of color are less represented at higher levels of organizations than white men," PayScale reports. And while the number of women running Fortune 500 companies is at a record high, they still only account for 6.6% of CEOs.
The Payscale report also points to issues during the job search process, where women "benefit less frequently from employee referrals, which help applicants get a foot in the door."
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