Young U.s. Workers Expect $200,000 Salaries By Age 30. Here's What They Actually Earn — How Do Your Stats Compare?

A six-figure net mightiness personification been nan group of financial occurrence for American workers successful nan past, but that money doesn't spell alternatively arsenic acold these days. In costly cities for illustration San Francisco and New York, $100,000 a twelvemonth aft taxes and cost-of-living adjustments amounts to astir $36,000 annually, according to a study from financial exertion institution SmartAsset.

Many U.S. labour want to position themselves for an yearly nett bump, moreover if that intends uncovering a caller job. More than 3 successful 5 workers received a net summation successful nan 12 months since October 2023, including 12% who recovered a better-paying job, 41% who earned a raise astatine their existent business and 8% who recovered both, per a Bankrate survey.

Related: Here's How Much Money You Need to Make successful Order to Be 'Successful,' According to Each Generation

What does a "comfortable" yearly net successful nan U.S. really look like? Although it mightiness alteration considerably depending connected nan earner's location, young workers crossed nan committee personification immoderate clear-cut expectations, investigation from penning level EduBirdie found.

After surveying 2,000 Gen Z Americans astir their financial habits and attitudes toward money, EduBirdie revealed that 51% of them judge that money is nan cardinal to happiness — and that 58% of them could beryllium "comfortable" surviving connected an yearly nett betwixt $50,000 and $100,000.

Despite Gen Z's conception of what makes a comfortable income, galore of them strive to deed lofty net goals arsenic they participate their 4th decade.

By spot 30, 22% of Gen Z expect to summation $100,000 to $200,000 a year, and 10% expect to summation $200,000 to $500,000, according to nan research. Another 7% expect making astatine slightest $500,000 annually astatine 30.

Related: Millennials Say They Need $525,000 a Year to Be Happy. A Nobel Prize Winner's Research Shows They're Not Wrong.

"Despite galore [41%] still relying connected their parents [for money], this procreation is undeniably ambitious," Avery Morgan, main value resources serviceman astatine EduBirdie, says. "Our study shows they're not counting connected a aureate parachute for illustration marrying into wealthiness aliases inheritance. Instead, 17% judge they'll summation $200,000 by spot 30 — a bold extremity that demands strategical occupation moves, continuous learning, and a spot of luck."

However, nan mostly of U.S. labour successful their thirties don't summation six-figure salaries. The mean U.S. nett successful 2023 was astir $65,000, per LendingTree data, but comparing median salaries — nan mediate number successful a database of salaries — tin overgarment a overmuch meticulous picture, NerdWallet notes.

Related: The National Average Salary Is About $65,000. Here's What Americans Are Saving for Retirement — How Do Your Stats Compare?

American workers aged 25 to 34 saw median yearly nett of $57,356 successful Q2 2024, and those aged 35 to 44 saw median yearly nett of $64,844 during nan aforesaid period, according to NerdWallet's data.

Those figures are a acold outcry from Gen Z's anticipated $100,000 aliases $200,000 yearly income by spot 30. However, young labor committed to improving their individual finances tin return immoderate cardinal steps to group themselves up for success.

Although EduBirdie's study recovered that 61% of Gen Z judge their occupation nett unsocial will spot them done retirement, 26% said they're making smart investments to turn their wealthiness complete time. Nearly half of Gen Z and millennials too personification broadside hustles to supplement their 9-5 incomes.