Ever wondered if location makes a difference in the size of your paycheck? New Yorkers on average earn an annual salary of $74,870, according to a Forbes analysis of data from the Bureau of Labor Statistics (BLS). For perspective, the average annual salary in the U.S. is $63,795 according to the national average wage index.
Here’s a deeper dive into the average salary in New York by age and location.
Average Salary in New York by Age in 2024
The average income by age in New York increases with age until people hit their mid-60s. Adults under 25 earn an average annual salary of $39,366, while those in the 25 to 44-year-old range pull in an average income of $85,570. Workers in the 45- to 64-year-old range earn the most, with average annual pay of $88,827.
That makes sense, given that most people don’t reach their highest-earning years until their 40s. The average salary in New York by age drops to $51,837 for those 65 and older, which can be attributed to more people leaving the workforce to retire or cutting back on the number of hours worked.3
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Average Salary in New York by City in 2024
The average salary in New York is higher than the average pay in the United States but earnings aren’t the same in every city.
If you’re using a budget planner app to keep a close eye on your finances, your choice of hometown can make a difference in how far your money goes. Here’s a comparison of the top 10 highest-earning cities in New York, according to ZipRecruiter.
| City | Annual Salary |
|---|---|
| Queens | $103,148 |
| Islip | $101,069 |
| Albany | $99,106 |
| Monroe | $98,563 |
| Bronx | $96,858 |
| Brooklyn | $96,659 |
| Deer Park | $95,266 |
| Vernon | $94,513 |
| Oyster Bay | $93,458 | Borough of Queens | $92,914 |
In these cities, the average monthly salary in New York ranges from $8,595 at the high end to $7,742 at the low end. By comparison, the average salary in the U.S. breaks down to $5,316 monthly.
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Average Salary in New York by County in 2024
What’s considered a good entry-level salary or annual salary in New York can vary by county. Here’s a look at the average salary for 10 counties across the state, according to BLS data.
| County | Annual Salary |
|---|---|
| New York | $157,465 |
| Westchester | $95,004 |
| Albany | $79,768 |
| Nassau | $78,312 |
| Saratoga | $68,640 |
| Erie | $66,300 |
| Richmond | $65,884 |
| Kings | $60,476 |
| Oneida | $60,008 | Broome | $59,332 |
Examples of the Highest-Paying Jobs in New York
The highest-paying jobs in New York pay well over $100,000 annually, with some of the best-paying jobs topping $200,000 in yearly salary on average. Even the top 100 highest-paying jobs offer an entry-level salary in the six-figure range.
Have your sights set on landing a six-figure salary job? Some of the most lucrative job titles in New York, according to Zippia, include:
• Finance Services Director: $226,494
• Hospitalist Physician: $215,888
• President/Chief Executive Officer: $201,998
• Executive Vice President: $192,649
• Internal Medicine Physician: $192,457
• Chief Administrative Officer: $188,629
• Operator and Truck Driver: $185,868
As you can see from this list, many of the highest-paying jobs in New York are in the business and medical fields, though some may be good jobs for introverts. Your average earnings can depend on your years of experience, education, and chosen career path.
The Takeaway
Understanding the average income by age, for New York or any other state, can give you an idea of how you compare to other workers. It’s important to remember, however, that earning six figures or more isn’t an automatic guarantee that you’ll be financially secure. Student loan debt, high housing costs, and inflation can test just how far your money goes.
If you’re working your way up the career ladder while paying down debt and focusing on savings, your net worth may be a better metric to track. You can use a net worth calculator by age to see where you should be, compared to people in your age range. If you’re ahead, then you know your financial plan is working. And if you’re behind, you can work out a strategy for getting caught up.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
FAQ
What is a good average salary in New York?
A “good” average salary in New York state depends on the cost of living in your city or county and your spending habits. Your marital status can also make a difference. A single person living in New York City might be able to live comfortably on $70,000 a year, while a couple with two kids may need $300,000 a year in salary to cover expenses.
What is the average gross salary in New York?
The average New Yorker earns an annual salary of $74,870. That’s nearly $15,000 more per year than the average worker in the U.S. earns.
What is the average income per person in New York?
The average income per capita in New York is $47,173. This number is below the average salary figure for New York overall, as per capita income counts all people, including those who are not working or earning income.
What is a livable wage in New York?
A livable wage for a single person with no children in New York is $26.60 per hour. If you assume a 40-hour workweek and 50 weeks of work per year, with two off for vacation, that adds up to $53,200 per year. Meanwhile, to earn a livable wage, a married couple with two kids would need $33.53 per hour if both parents work, or $46.47 per hour if only one works. That’s an annual income of $69,742 or $96,658, based on the same 40-hour week and 50 weeks of work per year.
Photo credit: iStock/LeoPatrizi
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