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THIS WAS THE AVERAGE SALARY THE YEAR YOU ENTERED THE WORKFORCE | The average individual American income has increased almost every year over the last half century. But how much it has increased and the shift in its valuation can say a lot about where the economy was and how world events affected how much hard-working Americans actually took home. Click through to learn the average salary each year from 1962 to 2020 as well as how much it's worth in today's dollars. Can you remember your salary the year you entered the workforce?
THIS WAS THE AVERAGE SALARY THE YEAR YOU ENTERED THE WORKFORCE | The average individual American income has increased almost every year over the last half century. But how much it has increased and the shift in its valuation can say a lot about where the economy was and how world events affected how much hard-working Americans actually took home. Click through to learn the average salary each year from 1962 to 2020 as well as how much it’s worth in today’s dollars. Can you remember your salary the year you entered the workforce?
METHODOLOGY | These salaries are based on data from finance and investing website Don't Quit Your Day Job, which assessed a number of variables, including the labor force participation each week and microdata from the University of Minnesota's Current Population Survey.
METHODOLOGY | These salaries are based on data from finance and investing website Don’t Quit Your Day Job, which assessed a number of variables, including the labor force participation each week and microdata from the University of Minnesota’s Current Population Survey.
1962 | The average individual income in 1962 was $3,712.21, which adjusted for inflation in today's dollars would be $31,833.76. During this time, in what is now known as the Kennedy Slide, unemployment was high and the stock market lost nearly a quarter of its value.
1962 | The average individual income in 1962 was $3,712.21, which adjusted for inflation in today’s dollars would be $31,833.76. During this time, in what is now known as the Kennedy Slide, unemployment was high and the stock market lost nearly a quarter of its value.
1963 | Average income in 1963 was slightly less than the previous year at $3,710.28, or $31,465.63 in 2020. In 1963, production, sales and employment all increased, leading to overall growth in the economy.
1963 | Average income in 1963 was slightly less than the previous year at $3,710.28, or $31,465.63 in 2020. In 1963, production, sales and employment all increased, leading to overall growth in the economy.
1964 | 1964's average individual income was $3,947.73 which would be about $32,900 in 2020.
1964 | 1964’s average individual income was $3,947.73 which would be about $32,900 in 2020.
1965 | 1965's average income saw a jump from $3,947.73 the year before to $4,122.17.
1965 | 1965’s average income saw a jump from $3,947.73 the year before to $4,122.17.
1966 | 1966's average individual income was $4,273.35. When adjusted for 2020 inflation, that number equates to about $34,700.
1966 | 1966’s average individual income was $4,273.35. When adjusted for 2020 inflation, that number equates to about $34,700.
1967 | The average individual income in 1967 was $4,527.12, which would be slightly more than $35,800 in 2020.
1967 | The average individual income in 1967 was $4,527.12, which would be slightly more than $35,800 in 2020.
1968 | The average individual income in 1968 was $4,786.80. This was also the year that the purchasing power of the federal minimum wage, which was $7.25, was the greatest it had ever been.
1968 | The average individual income in 1968 was $4,786.80. This was also the year that the purchasing power of the federal minimum wage, which was $7.25, was the greatest it had ever been.
1969 | The annual average income made a nearly $400 jump to $5,168.12 in 1969.
1969 | The annual average income made a nearly $400 jump to $5,168.12 in 1969.
1970 | 1970's individual income saw another increase of nearly $500 to $5,662.60, which roughly equaled $39,500 in 2020.
1970 | 1970’s individual income saw another increase of nearly $500 to $5,662.60, which roughly equaled $39,500 in 2020.
1971 | In 1971, the average annual income was $5,966.75, which equals $39,308.85 in 2020 money.
1971 | In 1971, the average annual income was $5,966.75, which equals $39,308.85 in 2020 money.
1972 | Average individual income rose to over $6,000 in 1971 at $6,243.11. According to the Wall Street Journal, weekly income for individual production and nonmanagerial workers peaked in October of this year, with average weekly paychecks totaling more than $800.
1972 | Average individual income rose to over $6,000 in 1971 at $6,243.11. According to the Wall Street Journal, weekly income for individual production and nonmanagerial workers peaked in October of this year, with average weekly paychecks totaling more than $800.
1973 | Average individual income rose more than $500 in 1973 to $6,795.55. This is also the first year that would average more than $40,000 in today's dollars with the average salary adjusted for 2020 inflation coming in at $41,558.44.
1973 | Average individual income rose more than $500 in 1973 to $6,795.55. This is also the first year that would average more than $40,000 in today’s dollars with the average salary adjusted for 2020 inflation coming in at $41,558.44.
1974 | The average individual income in 1974 as President Richard Nixon's involvement in the Watergate scandal came to light was $7,266.60 ($41,776.15 in 2020).
1974 | The average individual income in 1974 as President Richard Nixon’s involvement in the Watergate scandal came to light was $7,266.60 ($41,776.15 in 2020).
1975 | In 1975, the average salary was $7,653.08 or $39,687.43 in 2020's dollars.
1975 | In 1975, the average salary was $7,653.08 or $39,687.43 in 2020’s dollars.
1976 | Though the average individual income in 1976 was $8,345.41, when adjusted for inflation, it only equals $39,660.08 in 2020 dollars.
1976 | Though the average individual income in 1976 was $8,345.41, when adjusted for inflation, it only equals $39,660.08 in 2020 dollars.
1977 | 1977 saw another increase in average individual income at $8,892.23, which would equal $39,911.03 today.
1977 | 1977 saw another increase in average individual income at $8,892.23, which would equal $39,911.03 today.
1978| As the 1970s drew to a close, average income gradually approached $10,000 a year with the 1978 average individual income reaching $9,590.82, or $40,444.80 in 2020 money.
1978| As the 1970s drew to a close, average income gradually approached $10,000 a year with the 1978 average individual income reaching $9,590.82, or $40,444.80 in 2020 money.
1979 | Average individual income was $10,507.27 in 1979 and $41,249.77 in 2020 dollars.
1979 | Average individual income was $10,507.27 in 1979 and $41,249.77 in 2020 dollars.
1980 | In 1980 the average individual income jumped more than $1,000 from $10,507.207 to $11,656.52.
1980 | In 1980 the average individual income jumped more than $1,000 from $10,507.207 to $11,656.52.
1981 | 1981 saw another near-$1,000 jump to $12,530.93.
1981 | 1981 saw another near-$1,000 jump to $12,530.93.
1982 | In 1982, the average individual income rose again to $13,674.9,6 though the value of that salary in today's dollars decreased to $38,445.17 from $38,858.54 in 1981. The overall decreased purchasing power of the dollar in today's money can likely be attributed to the economic recession that took place in 1982 and led to business bankruptcies increasing by 50%.
1982 | In 1982, the average individual income rose again to $13,674.9,6 though the value of that salary in today’s dollars decreased to $38,445.17 from $38,858.54 in 1981. The overall decreased purchasing power of the dollar in today’s money can likely be attributed to the economic recession that took place in 1982 and led to business bankruptcies increasing by 50%.
1983 | 1983 saw the average individual income increase once again to more than $14,000 a year, but the purchasing power of that money today went down once again, with the actual amount in 2020's money decreasing to $38,383.91. The economy had recovered from the recession by this time and subsequent years saw the value of the dollar increase when adjusted for inflation today.
1983 | 1983 saw the average individual income increase once again to more than $14,000 a year, but the purchasing power of that money today went down once again, with the actual amount in 2020’s money decreasing to $38,383.91. The economy had recovered from the recession by this time and subsequent years saw the value of the dollar increase when adjusted for inflation today.
1984 | In 1984, the average individual income increased to $15,215.03, roughly $39,055.30 in 2020. 1984 was another year of recovery for the U.S. economy after the 1982 recession.
1984 | In 1984, the average individual income increased to $15,215.03, roughly $39,055.30 in 2020. 1984 was another year of recovery for the U.S. economy after the 1982 recession.
1985 | The annual individual income increased to $16,389.86, which amounts to $40,318.00 when adjusted for inflation in 2020. By 1985, the private sector was creating more than 175,000 jobs a month and consumer spending contributed to more than 75% of economic growth.
1985 | The annual individual income increased to $16,389.86, which amounts to $40,318.00 when adjusted for inflation in 2020. By 1985, the private sector was creating more than 175,000 jobs a month and consumer spending contributed to more than 75% of economic growth.
1986 | The average individual income in 1986 was over $17,000, increasing to $41,096.16 in 2020's dollars.
1986 | The average individual income in 1986 was over $17,000, increasing to $41,096.16 in 2020’s dollars.
1987 | The average individual income increased to $18,202.60, or roughly $42,463.51 in 2020. October of 1987 saw the Black Monday stock market crash after a 5-year bull market.
1987 | The average individual income increased to $18,202.60, or roughly $42,463.51 in 2020. October of 1987 saw the Black Monday stock market crash after a 5-year bull market.
1988 | The average individual income went up again to $19,238.70, or $43,301.18 in 2020. After the stock market crash of 1987, the economy saw steady and strong growth with rising exports and consumer spending.
1988 | The average individual income went up again to $19,238.70, or $43,301.18 in 2020. After the stock market crash of 1987, the economy saw steady and strong growth with rising exports and consumer spending.
1989 | The 1989 annual average individual income was $20,220.02, or $43,715.11 in 2020. In 1989, unemployment was 5.3% and economic growth slowed during this time.
1989 | The 1989 annual average individual income was $20,220.02, or $43,715.11 in 2020. In 1989, unemployment was 5.3% and economic growth slowed during this time.
1990 | The average individual income heading into the last decade of the 20th century was $21,547.08, or $44,455.33 in 2020. The later half of 1990 saw the economy in recession after the Savings and Loan (S&L) Crisis. The failure of more than 3,000 savings and loan organizations in the United States led to the passage of several laws further regulating savings and loan organizations.
1990 | The average individual income heading into the last decade of the 20th century was $21,547.08, or $44,455.33 in 2020. The later half of 1990 saw the economy in recession after the Savings and Loan (S&L) Crisis. The failure of more than 3,000 savings and loan organizations in the United States led to the passage of several laws further regulating savings and loan organizations.
1991 | In 1991, the Gulf War brought on a recession followed by a period of economic growth that would last until the early 2000s began. During that year, the average annual individual income was $22,158.07. But again, the actual current value of that salary decreased from $44,455.33 to $43,328.20.
1991 | In 1991, the Gulf War brought on a recession followed by a period of economic growth that would last until the early 2000s began. During that year, the average annual individual income was $22,158.07. But again, the actual current value of that salary decreased from $44,455.33 to $43,328.20.
1992 | The growth in annual individual income once again outpaced the growth in the value of the dollar with $22,707.29 in 1992 dollars translating to $42,610.87 in 2020.
1992 | The growth in annual individual income once again outpaced the growth in the value of the dollar with $22,707.29 in 1992 dollars translating to $42,610.87 in 2020.
1993 | In 1993, the growth in annual individual income was $23,444.08, or $42,739.50 in 2020.
1993 | In 1993, the growth in annual individual income was $23,444.08, or $42,739.50 in 2020.
1994 | The annual individual income averaged out to $23,900 with its 2020 value dropping to $42,324.54. That year, economic growth happened amid a landscape of faltering markets with the S&P 500 falling 1.5% that year.
1994 | The annual individual income averaged out to $23,900 with its 2020 value dropping to $42,324.54. That year, economic growth happened amid a landscape of faltering markets with the S&P 500 falling 1.5% that year.
1995 | In 1995, the average individual annual income increased to about $25,000, or $43,117 in 2020. That year the gross domestic product (GDP) was more than $7 billion.
1995 | In 1995, the average individual annual income increased to about $25,000, or $43,117 in 2020. That year the gross domestic product (GDP) was more than $7 billion.
1996 | 1996 saw an almost $3,000-a-year jump to $27,698.72, or $46,467.25 in 2020.
1996 | 1996 saw an almost $3,000-a-year jump to $27,698.72, or $46,467.25 in 2020.
1997 | The average annual individual income increased again in 1997 to $28,964.59, or $47,198.14 in 2020. In 1997, President Bill Clinton also eliminated the national budget deficit with the signing of the Balanced Budget Agreement.
1997 | The average annual individual income increased again in 1997 to $28,964.59, or $47,198.14 in 2020. In 1997, President Bill Clinton also eliminated the national budget deficit with the signing of the Balanced Budget Agreement.
1998 | Average individual income saw an increase of nearly $2,000 in 1998 when the average increased to $30,626.14, or $48,817.37 in 2020. The unemployment rate also fell during this time, reaching 4.5% by the middle of 1998.
1998 | Average individual income saw an increase of nearly $2,000 in 1998 when the average increased to $30,626.14, or $48,817.37 in 2020. The unemployment rate also fell during this time, reaching 4.5% by the middle of 1998.
1999 | In 1999, the average individual income was $32,127.10 annually, or $50,424.44 in 2020, and the GDP per capita was nearly $53,000 in 2019 dollars.
1999 | In 1999, the average individual income was $32,127.10 annually, or $50,424.44 in 2020, and the GDP per capita was nearly $53,000 in 2019 dollars.
2000 | In 2000, the annual average individual income was slightly higher than 1999 at $32,971, or $50,610.52 in 2020. In March 2000, in the immediate aftermath of the Y2K scare, stock markets dropped and a number of dot-com companies failed as a result of the dot-com bubble bursting.
2000 | In 2000, the annual average individual income was slightly higher than 1999 at $32,971, or $50,610.52 in 2020. In March 2000, in the immediate aftermath of the Y2K scare, stock markets dropped and a number of dot-com companies failed as a result of the dot-com bubble bursting.
2001| The average annual individual income was $35,676.04 in 2001, or $52,962.01 in 2020. This was a nearly $3,000 jump despite 2001 being the year of the Sept. 11 terrorist attacks, which led to a 9/11 recession that lasted from March to November 2001. The recession was relatively small and the economy recovered quickly.
2001| The average annual individual income was $35,676.04 in 2001, or $52,962.01 in 2020. This was a nearly $3,000 jump despite 2001 being the year of the Sept. 11 terrorist attacks, which led to a 9/11 recession that lasted from March to November 2001. The recession was relatively small and the economy recovered quickly.
2002 | In 2002, the average individual income rose more than $1,000 a year to $36,782.44, or $53,114.81 in 2020.
2002 | In 2002, the average individual income rose more than $1,000 a year to $36,782.44, or $53,114.81 in 2020.
2003 | 2003's annual individual income saw a smaller bump to $36,956.74, or $52,526.48 in 2020.
2003 | 2003’s annual individual income saw a smaller bump to $36,956.74, or $52,526.48 in 2020.
2004 | In 2004, the average annual individual income was $37,885.63, or $52,676.13 in 2020. The U.S. experienced economic growth, but at a 4.4% GDP growth rate, the U.S.'s growth lagged when compared to other countries like China, Indonesia and Argentina.
2004 | In 2004, the average annual individual income was $37,885.63, or $52,676.13 in 2020. The U.S. experienced economic growth, but at a 4.4% GDP growth rate, the U.S.’s growth lagged when compared to other countries like China, Indonesia and Argentina.
2005 | In 2005, the United States' average annual individual income rose almost another $1,000 to $38,853.05, though its value in 2020 dollars dropped to $52,592.09.
2005 | In 2005, the United States’ average annual individual income rose almost another $1,000 to $38,853.05, though its value in 2020 dollars dropped to $52,592.09.
2006 | In 2006, as job growth dropped and wages comprised a smaller part of national income, the average annual individual income was $40,606.72, or $53,183.72 in 2020.
2006 | In 2006, as job growth dropped and wages comprised a smaller part of national income, the average annual individual income was $40,606.72, or $53,183.72 in 2020.
2007 | In 2007, the country was just one year away from the beginning of the Great Recession and the average annual individual income was $42,608.38, or $54,052.78 in 2020.
2007 | In 2007, the country was just one year away from the beginning of the Great Recession and the average annual individual income was $42,608.38, or $54,052.78 in 2020.
2008 | The 2008 annual individual income was $43,356.42, or $53,455.51 in 2020. By 2008's fourth quarter, the GDP was declining at a rate of 8.4%.
2008 | The 2008 annual individual income was $43,356.42, or $53,455.51 in 2020. By 2008’s fourth quarter, the GDP was declining at a rate of 8.4%.
2009 | In 2009, the annual individual income increased to $43,671.78, but as the Great Recession raged on, that dollar amount's value in 2020 dropped to $51,885.59.
2009 | In 2009, the annual individual income increased to $43,671.78, but as the Great Recession raged on, that dollar amount’s value in 2020 dropped to $51,885.59.
2010 | 2010's average annual individual income dropped to $43,356.08, or $51,710.63 in 2020. During this time, mortgage applications reached their lowest point since 1997 and President Barack Obama's passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. Near the end of 2010, the economy started to rebound with the Dow Jones closing over 11,000 points in October.
2010 | 2010’s average annual individual income dropped to $43,356.08, or $51,710.63 in 2020. During this time, mortgage applications reached their lowest point since 1997 and President Barack Obama’s passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. Near the end of 2010, the economy started to rebound with the Dow Jones closing over 11,000 points in October.
2011 | In 2011, the average annual individual income slightly rebounded to $43,638.02, though its 2020 value still dropped to $51,172.16. The U.S. economy grew but at a slower rate than economists predicted after the Great Recession.
2011 | In 2011, the average annual individual income slightly rebounded to $43,638.02, though its 2020 value still dropped to $51,172.16. The U.S. economy grew but at a slower rate than economists predicted after the Great Recession.
2012 | As the economy created nearly 2 million jobs, the average annual individual income increased to $45,312.41, or $51,521.89 in 2020.
2012 | As the economy created nearly 2 million jobs, the average annual individual income increased to $45,312.41, or $51,521.89 in 2020.
2013 | Job growth continued in 2013 with businesses adding more than 8 million jobs and the deficit falling by more than 5%. The average annual individual income rose to $46,377.45, or $51,698.90 in 2020.
2013 | Job growth continued in 2013 with businesses adding more than 8 million jobs and the deficit falling by more than 5%. The average annual individual income rose to $46,377.45, or $51,698.90 in 2020.
2014 | In 2014, the average annual individual income increased by close to $2,000 to $48,257.83, or $52,949.08 in 2020. U.S. News called 2014 the “U.S. economy’s breakout year” with the unemployment rate reaching 5.8%, the lowest it had been since 2008.
2015 | The 2015 average annual individual income was $49,381.65, or $53,380.87 in 2020. 2015 saw the greatest economic growth since 2005.
2015 | The 2015 average annual individual income was $49,381.65, or $53,380.87 in 2020. 2015 saw the greatest economic growth since 2005.
2016 | In 2016, the average annual individual income lept $2,000 to $51,728.78, or $55,527.05 in 2020. This year, economic growth dropped off to 1.6% while nonfarm employment grew by 190,000 jobs per month.
2016 | In 2016, the average annual individual income lept $2,000 to $51,728.78, or $55,527.05 in 2020. This year, economic growth dropped off to 1.6% while nonfarm employment grew by 190,000 jobs per month.
2017 | 2017 was another year of slowed growth, with the economy growing by 2.3% and an annual individual income that averaged out to $54,000, or $57,700 in 2020.
2017 | 2017 was another year of slowed growth, with the economy growing by 2.3% and an annual individual income that averaged out to $54,000, or $57,700 in 2020.
2018 | The economy grew 2.9% in 2018, slightly more than 2017, and the unemployment rate was 3.8%. The average individual income was $56,128.66, or $58,570.70 in 2020.
2018 | The economy grew 2.9% in 2018, slightly more than 2017, and the unemployment rate was 3.8%. The average individual income was $56,128.66, or $58,570.70 in 2020.
2019 | In 2019, economic growth slowed with imports increasing less than 2018 and the real GDP increasing by 4.1% compared to 2018's 5.4%. The average annual individual income increased to $58,393.85, or $59,478.81 in 2020.
2019 | In 2019, economic growth slowed with imports increasing less than 2018 and the real GDP increasing by 4.1% compared to 2018’s 5.4%. The average annual individual income increased to $58,393.85, or $59,478.81 in 2020.
2020 | In 2020, in the wake of the coronavirus pandemic, the average annual individual income still increased to $62,797.47. Overall, the economy shrank 3.5%, the largest amount in almost 75 years.
2020 | In 2020, in the wake of the coronavirus pandemic, the average annual individual income still increased to $62,797.47. Overall, the economy shrank 3.5%, the largest amount in almost 75 years.