How Much Should a 24-Year-Old Actually Earn? Breaking Down U.S. Salary Expectations by Age

Wondering what the average 24 year old makes? Your paycheck isn’t just a number—it’s a benchmark. Whether you’re ahead of the curve or playing catch-up depends less on what you think you should make and more on what your peers are actually pulling in. The Bureau of Labor Statistics (BLS) has the receipts, and the data tells a pretty interesting story about earnings across different life stages.

The Reality Check: Where Does Your Age Group Stand?

Let’s cut to the chase. If you’re in your early 20s, here’s what full-time workers are actually earning in the U.S. (based on 2022 data):

Ages 16-19: $609/week or $31,668 annually Ages 20-24: $706/week or $36,712 annually Ages 25-34: $1,003/week or $52,156 annually

Notice that jump? Someone asks, “what does the average 24 year old make?” and the answer is roughly $36,712 per year. But that’s just the baseline. If you’re hitting 25, you could see a massive 42% jump in median earnings. That’s not luck—that’s experience, education, and career progression kicking in.

The Early Career Grind: Your 20s

Your 20s are when the salary story really begins. Most people in the 20-24 bracket are either fresh college graduates or just starting their careers, which explains why the median sits at $36,712. This age group typically includes summer workers, temp staff, and entry-level professionals still finding their footing.

The real game-changer? By 25-34, the median nearly doubles to $52,156 annually. That’s not arbitrary. This cohort has accumulated skills, finished grad school, or moved up internally. If you’re 24 right now and wondering whether $36,712 is actually competitive, the answer depends on your industry and education level. Some careers pay significantly more; others significantly less.

Peak Earning Years: Your 30s and 40s

Here’s where things get interesting. The 35-44 age bracket pulls in a median of $1,197/week or $62,244 yearly—a solid 19% bump from the 25-34 range. But there’s a catch: gender matters a lot here.

• Men aged 35-44: $1,299/week median
• Women aged 35-44: $1,086/week median

That $213 weekly gap isn’t a rounding error—it’s a real income disparity that compounds over decades. The gender income gap remains one of the most significant factors in lifetime earnings, even in your peak professional years.

By 45-54, earnings plateau slightly at $63,648 annually. You might expect exponential growth, but wages tend to stabilize. The 45-54 bracket includes 25.4 million full-time workers, while the 55-64 bracket drops to 20.2 million—many people start thinking about leaving the workforce as they approach retirement eligibility.

The Pre-Retirement Shift: Your 50s and Beyond

Ages 55-64 see a slight dip: $1,172/week or $60,944 yearly. Why the decline? Some higher earners have already exited the workforce to explore retirement options. Social Security eligibility at 62 makes this an inflection point for many workers.

Americans 65 and older who continue working full-time earn $991/week or $51,532 annually. This group is much smaller—just 5.4 million full-time workers—and likely includes people who need to keep working, those who enjoy it, or those who haven’t saved enough yet.

The Numbers You Actually Need to Know

What These Numbers Actually Mean for You

Here’s the critical context: the BLS reports medians, not averages, because outliers can skew perception. One tech executive making $500K doesn’t change what most people in your cohort earn. Medians give you the real middle ground.

But there’s more complexity hiding in the data:

• Education level matters enormously. Graduate degree holders consistently earn more than high school graduates, even within the same age bracket.
• Race and ethnicity create additional variation. These salary figures are aggregates across all demographics.
• Geography plays a role. A $62,244 median in rural America looks different than in San Francisco or New York.
• Employment type changes things. These are full-time wage and salary earners only. Self-employed, gig workers, and part-timers aren’t included.

So when you’re evaluating your own paycheck, compare yourself to people who actually match your profile: similar age, education, location, and industry.

Taking Action With Your Earnings Data

Knowing what age-mates earn serves one purpose: it helps you calibrate expectations. If you’re 24 and earning $36,712, you’re right at median. If you’re earning significantly less, it might be time to evaluate your career path or look for higher-paying opportunities within your current role. If you’re earning more, congratulations—you’re outpacing peers.

The trajectory matters too. Are you on track to hit $52K by 30? $62K by 40? If the growth isn’t there, that’s a signal to invest in skills, change industries, or negotiate harder.

Remember: your gross salary isn’t your take-home pay, and your take-home isn’t available for spending after taxes and deductions. Factor that into your financial planning, especially if you’re mapping out savings goals or investment strategies for the long term.