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In the deep south thats actually a very good salary provided you don't have a host of kids. Down here you can live a pretty decent life with that pay because things are much cheaper
That is certainly middle class in our area. My husband and I combined lived off that when we married 5 years ago and lived quite well. Actually it was less then that. Haha I would never consider that poor, but again it goes a long way in a LCOL area.
I consider that income lower middle class in most parts of the country excluding NYC, Seattle, San Francisco, or any other city in Southern California.
.. depends on where you live really. In south Texas, that is probably UPPER middle class. Or medium middle class. On the west coast or northeast, you may as well say you're on poverty at that salary
That is honestly a meager amount for the Bay Area. I've heard that it is difficult to live comfortably on less than $200K in San Francisco, granted Oakland is less costly. In another city, you would be in the median.
Okay, a few things to consider that I think most people touched on here.
1) Geographic location. Where do you live? What is the COL? In NYC, that'd be a slave wage. In Memphis, TN, that'd be a pretty darn good salary.
2) You're young and inexperienced and you graduated in a terrible economy. Don't fall into this trap of "well, now I have a college degree, where's my $70,000/yr. salary?" Most people I know with a college degree who are just starting out started making around $30k-$35k/yr. Some are making even less than that. Gain some experience. Work hard and constantly test the job market. You may have to jump around a bit in the beginning. If after about five years you're still only making between $36k and $37k, maybe consider making some changes.
3) You're single. I'm making in the low to mid $40k range and I'm doing quite well living in a major metro area. With a car payment, I have a little over $800 left after all bills are paid. When my car is paid off in a few months, I'll have a little over $1000 left after all bills are paid. This is not including the months where I receive an extra pay check (twice yearly) That's a lot of play money for a single person each month. Even after I'm done playing, I still have about $300-$400 that I can throw into savings. You can be frugal and still have fun.
Trust me, with hard work and ambition, you can get to where you want to be. I saw my salary go up nearly $10k in a little under two years because of my ambition and ability to take advantage of good opportunities. Keep your eyes open and play the game wisely. It is likely that you will not always be making a lower salary. Just give it some time.
Absolutely this! Best answer. I started with only $29k when I first entered my HR career which was super heard to break into. Took me a year to have someone give me a chance. Within 2 years after being laid off, quitting a temp job with no benefits, I landed a good opportunity I recently started (so far so good). Now I make $10k more than what I did within 2 years, 20 days pto and 20 days sick, 2 weeks off in December, 8 other paid holidays, money put into retirement without my contribution, and I work 37.5 hrs a week. I hope it stays good.
Anyways, I think I found a place to stay a while but will keep eyes open for other opportunities to advanc which I believe is important. Also, I think we will always compare which is hard not to do. Everyone I know makes 45kish or more and I feel behind but at the same time I am proud of myself and have no debt with plenty of spending money by I like to save.
In Jacksonville and most major metros in the South, that's considered middle-class but anywhere else, forget it. A home on that salary will net you in the ghetto mostly everywhere else.
Its ok, its Oakland pretty much all of oakland is ghetto anyhow.
I'm from Los Angeles and that is poverty level. I also went to school in Berkeley and yeah, you're living in a sardine can taking the bus and BART w/5 roommates on that kind of pay. I left LA and moved to TN making a little more than what you make. No state income tax increased my take home pay, but now I'm in KY where I pay a state income tax, but got a 10k raise and a better work environment (last boss was brutal). If you do a cost of living calculator I make about 85K SF money and 75K LA money. Mind you, I did the COL calculator last year and the same pay was 65K LA money, so that means people in LA actually took a pay cut through COL increase.
What I'm trying to say and what others said already is that it's not what you earn, it's what you keep. Salary/Pay is about disposable income. If you make 150k in the Bay Area versus 80K in the sticks (especially a state with no income tax), it might make better financial sense to take the 80K (lower tax burden and COL overall). Your house in the sticks might cost 200-300K, whereas even in San Jose you're talking 700K plus. Then again, that's a lifestyle choice. As a former Californian, I truly miss my state and would like to go home someday, but I know what it's like to be poor there and there's no way I'll ever do it again. It would take a hell of a paycheck for me to go back there.
My job requires a bachelor's degree making $36K. Difficult to live on, but I rent a room for now.
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