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PERSONAL INCOMES Very Low Salary: Under 25k unskilled, easy jobs
Low Salary: $25k-35k low skilled jobs that are less pleasant (labor)
Decent Salary: $35k-50k entry-level white collar, lower-skilled trades
Good Salary: $50K-85K skilled trades, middle-management in a Dilbert Office, technical workers on the lower end
Great Salary: 85k-120k (management and quasi-professional jobs, technical workers, a very few trades)
Amazing Salary: 120k and higher upper-management, professional jobs, high-skilled technical workes )
HOUSEHOLD INCOMES (not including childless ppl who live alone)
Very Low HHI: Under $25k (poor households)
Low HHI: $25k-40k (working poor households)
Decent HHI: $40-60k (working class)
Good HHI: $60-85k (lower middle-class)
Good(er) HHI: $85-130k (middle class households)
Great HHI: $130k-200k and higher (upper middle-class)
Amazing HHI: 200k and higher (wealthy).
Poor: $0 to $4,500
I generally have had this income. Juggling bills, borrowing, working off jobs to pay what I can't get put on hold... It's manageable. I've learned to budget well this way. If I didn't have couches to sleep on I'd be very screwed in this situation.
Livable: $4,500 to $10,000
Juggling bills and calling debtors but this is usually easier to manage. I can do things like eat two square meals a day on income like this. Might not be healthy or perfect, but I can enjoy the small things in life.
Fair: $10,000 to $20,000
I can start paying more than the minimum on bills and manage to go out to eat or hang out with friends and start saving for my own apartment.
Good: $20,000 to $30,000
I'd have no issues paying for an apartment and paying bills while leading a "normal life." This inclme would be where I invest in a 401k, health insurance, etc. A job like this I would classify as a career success.
Great: $30,000 to $50,000
I wouldn't regret college if I got this. I'd invest for my future and help fund my family's needs.
Amazing: $50,000 to $99,999
Maybe I could buy a house, or a car.
Unimaginable: $100,000+
I'd pay off all my debt, get myself situated, then dump the rest into everybody who helped me get there.
Poor: $0 to $4,500
I generally have had this income. Juggling bills, borrowing, working off jobs to pay what I can't get put on hold... It's manageable. I've learned to budget well this way. If I didn't have couches to sleep on I'd be very screwed in this situation.
Livable: $4,500 to $10,000
Juggling bills and calling debtors but this is usually easier to manage. I can do things like eat two square meals a day on income like this. Might not be healthy or perfect, but I can enjoy the small things in life.
Fair: $10,000 to $20,000
I can start paying more than the minimum on bills and manage to go out to eat or hang out with friends and start saving for my own apartment.
Good: $20,000 to $30,000
I'd have no issues paying for an apartment and paying bills while leading a "normal life." This inclme would be where I invest in a 401k, health insurance, etc. A job like this I would classify as a career success.
Great: $30,000 to $50,000
I wouldn't regret college if I got this. I'd invest for my future and help fund my family's needs.
Amazing: $50,000 to $99,999
Maybe I could buy a house, or a car.
Unimaginable: $100,000+
I'd pay off all my debt, get myself situated, then dump the rest into everybody who helped me get there.
Poor: $0 to $4,500
I generally have had this income. Juggling bills, borrowing, working off jobs to pay what I can't get put on hold... It's manageable. I've learned to budget well this way. If I didn't have couches to sleep on I'd be very screwed in this situation.
Livable: $4,500 to $10,000
Juggling bills and calling debtors but this is usually easier to manage. I can do things like eat two square meals a day on income like this. Might not be healthy or perfect, but I can enjoy the small things in life.
Fair: $10,000 to $20,000
I can start paying more than the minimum on bills and manage to go out to eat or hang out with friends and start saving for my own apartment.
Good: $20,000 to $30,000
I'd have no issues paying for an apartment and paying bills while leading a "normal life." This inclme would be where I invest in a 401k, health insurance, etc. A job like this I would classify as a career success.
Great: $30,000 to $50,000
I wouldn't regret college if I got this. I'd invest for my future and help fund my family's needs.
Amazing: $50,000 to $99,999
Maybe I could buy a house, or a car.
Unimaginable: $100,000+
I'd pay off all my debt, get myself situated, then dump the rest into everybody who helped me get there.
This is how I feel. By this article, we are in a lower bracket, but we live quite comfortably with little to no debt, we don't want for anything and we have extras (although we don't indulge on things others do that I consider pointless like manicures every week and the latest iPads every 6 months for everyone in the family, but we have been able to travel Europe, and we have nice things) But, I don't really identify with it. I think not having kids certainly helps, and since most people do have kids maybe this doesn't take that into consideration.
The OP seemed pretty low to me for the NYC area. The descriptions in parentheses will vary by industry. For example, a "middle management" person in professional services will likely earn around $100K, while a similar job description in finance might earn double that. Based on what I know about the area of professional services I work in, here are the probable ranges IMO:
PERSONAL INCOMES
Very Low Salary: Under 40k (most service and unskilled jobs)
Low Salary: $40k-55k (most entry level college grad jobs & experienced unskilled jobs)
Decent Salary: $55k-80k (most non-mgmt office workers and most skilled trade workers)
Good Salary: $80K-125K (most middle management jobs)
Great Salary: 125k-200k (most higher management and professional jobs)
Amazing Salary: 200k and higher (most directors/executives and successful entrepreneurs) I took "doctorates" out. I know plenty of PhDs earning only $80K
Metropolitan Area: NYC
Pretty much this for the DC metro area as well. There's some variations such as IT and other in demand non-management professionals who tend to possess gov't security clearances making in the "middle management" salary range and things of that nature.
PERSONAL INCOMES
Very Low Salary: Under 25k unskilled, easy jobs
Low Salary: $25k-35k low skilled jobs that are less pleasant (labor)
Decent Salary: $35k-50k entry-level white collar, lower-skilled trades
Good Salary: $50K-85K skilled trades, middle-management in a Dilbert Office, technical workers on the lower end
Great Salary: 85k-120k (management and quasi-professional jobs, technical workers, a very few trades)
Amazing Salary: 120k and higher upper-management, professional jobs, high-skilled technical workes )
HOUSEHOLD INCOMES (not including childless ppl who live alone)
Very Low HHI: Under $25k (poor households)
Low HHI: $25k-40k (working poor households)
Decent HHI: $40-60k (working class)
Good HHI: $60-85k (lower middle-class)
Good(er) HHI: $85-130k (middle class households)
Great HHI: $130k-200k and higher (upper middle-class)
Amazing HHI: 200k and higher (wealthy).
Phoenix area.
Some of those less than 25K jobs aren't as easy as some people say. If you're doing manual labor/grunt work type of job, then it's not as easy.
The salaries for all of those categories matches with the state I'm in, Texas.
However, even with a bachelors degree I got 8 years ago from the University of Houston, I make less than 13,000 with the job I currently have.
It all depends on where you live. I paid 50,000 dollars for a small house on 15 acres, taxes are 350 dollars per year. Utilities are 50 dollars a month. I pay less than 400 a month for food.
I suspect that my expenses for everything would be higher in New York City
PERSONAL INCOMES
Very Low Salary: Under 35k unskilled jobs, retail, food service
Low Salary: $35-55k low skilled jobs that are less pleasant (semi-skilled labor, car sales)
Decent Salary: $75-100k entry-level white collar, average trades, teachers, police patrolman, etc.
Good Salary: $100-250K average engineer, fire fighter, mediocre attorney, average dentist
Great Salary: 250-750k management and quasi-professional jobs, technical workers, average physician
Amazing Salary: 750k and higher upper-management (C-level), professional jobs such as specialty MD
SoCal
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