Research Summary: The median income in the US is $44,225, but that doesn’t stop many Americans from pursuing more. Making over $100,000 per year is a common goal and is often considered one of the first stepping stones toward greater financial success.
But just how many Americans do reach that goal?
To find out more about how many people make over 100k per year, we’ve gathered essential facts and data. According to our extensive research:
18% of individual Americans make over $100k per year.
34.4% of US households make over $100k per year.
37% of White Households make over $100k, compared to only 22% of Black households.
9% more men earn $100k per year than women in the US.
Between 2017-2022, the share of US households making over $100k per year increased by 2.97%.
For further analysis, we broke down the data in the following ways:
General | Gender | Race | Age | Over Time
General $100k Income Statistics
To find out more about earning $100k per year or more in the US, we’ve gathered some important general statistics about the topic. Consider the following:
Only 15.5% of Americans earn between $100,000 and $149,999 per year.
Although, this does make up the largest percentage of Americans who do make over $100k, which only 8.3% earning between $150,000-$199,999, and 10.3% earning over $200k.
Annual Income Share of Americans Less than $100k 65.6% $100k-$149.9k 15.5% $150k-$199.9k 8.3% $200k+ 10.3% 45% of Americans earning over $100k live paycheck-to-paycheck.
Despite the common belief that more money equates to more stability, many nearly half of all Americans making over $100k are struggling to pay the bills. In fact, the number of Americans earning over $100k who live paycheck-to-paycheck increased by seven percentage points between 2021-2022, from 38% to 45%.
82% of Americans making over $100k per year say they need to make at least $200k per year to consider themselves rich.
By contrast, 56% of Americans believe that making $100k per year would make them rich, highlighting the difference in mindset between poorer and wealthier citizens.
$100k Incomes by Gender
There are some pretty significant disparities between men and women when it comes to income, and this trend is no different for $100k+ earners. To find out more, here are some insightful statistics our research uncovered:
17% of all men earn over $100k per year, compared to only 8.4% of women.
Men are around 2x more likely to earn an income of $100k or more per year in the US in 2022. With 22,619 out of 131,389 men who were surveyed saying so, and only 11,639 out of 137,334 women saying so.
53.5% more men working full-time earn $100k per year when compared to women.
When it comes to full-time work specifically, 28.4% of US men earn over $100k per year, compared to only 18.5% of US women.
San Jose, California, has the highest percentage of women earning $100k per year or more, at 34%.
Other cities will a high percentage of high-earning women include: San Francisco, California (31%), Washington, D.C. (27%), Stamford, Connecticut (25%), and Boston (21%).
The average woman earns 83% of what her male counterparts earn in 2022.
See AlsoThe Average Savings Account Balance In The U.S. | BankrateNearly half of American households have no retirement savingsWhat Is Middle Class Income? Thresholds, Is It ShrinkingCan You Comfortably Retire on $100,000? Here’s What You Need To KnowPer dollar, the average man gets paid 17 cents more than the average woman. That might not seem like a lot, but it can really add up over time. For instance, the average woman earns $80,000 less over the course of the same 40-year career.
$100k Incomes By Race
Race is also a major factor to consider when shining a microscope on the question of how many Americans make over $100k per year. The fact is that many minority groups in the US are disadvantaged and disenfranchised, leading to income inequality between different races.
Of course, there are other factors that contribute to the complexity of income differences between demographics, but our research shows that:
51% of Asian households make $100k or more per year.
Asian households are disproportionately the highest earners in the US. 17.7% earn between $100,000 and $149,999, 12.2% earn between $150,000 and $199,999, and 21.1% earn $200,000 and above.
Annual Income Share of Asian Households $100k-$149.9k 17.7% $150k-$199.9k 12.2% $200k+ 21.1% 37% of White households make $100k or more per year.
White Americans make up the largest chunk of the general population, and just over a third of them make over $100k. More specifically, 16.6% earn between $100,000 and $149,999, 8.6% earn between $150,000 and $199,999, and 12.1% earn $200,000 and above.
Annual Income Share of White Households $100k-$149.9k 17.7% $150k-$199.9k 12.2% $200k+ 21.1% 27% of Hispanic households make $100k or more per year.
Hispanic households are far less likely to make $100k per year when compared to their White or Asian counterparts. 14.3% earn between $100,000 and $149,999, 5.9% earn between $150,000 and $199,999, and 6.8% earn $200,000 and above.
Annual Income Share of Hispanic Households $100k-$149.9k 14.3% $150k-$199.9k 5.9% $200k+ 6.8% Only 22% of Black households make $100k or more per year.
Black households are by far the least likely to earn over $100k per year, with just 11.4% earning between $100,000 and $149,999, 4.6% earning between $150,000 and $199,999, and 5.7% earning $200,000 or more.
Annual Income Share of Black Households $100k-$149.9k 11.4% $150k-$199.9k 4.6% $200k+ 5.7% 68.2% more White households make over $100k than Black households.
37% of White households make over $100k in the US, compared to only 22% of Black households. Additionally, 37% more White households make over $100k when compared to Hispanic households.
18% of White working men make over $100k per year, compared to only 8% of Black working men.
White men are more than 2x as likely to be making $100k per year when compared to Black men, highlighting the disparity between the two groups.
$100k Incomes By Age
When it comes to the share of who makes over $100k per year, there is also a huge disparity between younger and older Americans. More specifically, here are some interesting age-related trends:
Americans under 25 who make over $100k per year are in the top 1% of earners in their age group.
From age 18-24, only 1% of earners (7% altogether) earn $100k per year or more. This makes these age groups by far the lowest earners in the US.
Americans make the most income gains between 25 and 35.
Only 2% of 25-year-olds make over $100k per year, but this jumps to a considerable 12% by 35. That’s a whopping 500% increase in the share of people making $100k or more.
21% of 66-year-olds make $100k per year or more.
Generally speaking, the older Americans get, the more money they make, with 20% or more of everyone 66+ making $100k per year or more.
| Age | Share of Americans who make $100k or more |
|---|---|
| 20 | 1% |
| 25 | 2% |
| 30 | 7% |
| 35 | 12% |
| 40 | 15% |
| 45 | 16% |
| 50 | 16% |
| 55 | 18% |
| 60 | 17% |
| 65 | 18% |
| 70 | 20% |
$100k Incomes Over Time
Generally speaking, the number and percentage of Americans who make over $100k per year increase over time. This is caused by a variety of reasons, from inflation to job growth. Here are some interesting insights our research uncovered:
Between 2017-2022, the share of US households making over $100k per year increased by 2.97%.
Though the number of households making $100k or more dipped from 34.6% to 33.6% in 2020 due to the COVID-19 Pandemic, there has still been a slight increase within the past five years.
Between 1980 and 2022, the share of Americans earning $100k per year or more almost doubled.
In 1980, approximately 17.4% of Americans made $100k per year or more, but as of 2022, that percentage has reached 34.4%.
Year Share of Americans who make $100k or more 1980 17.4% 1985 20.0% 1990 22.8% 1995 24.2% 2000 29.0% 2005 27.8% 2010 26.7% 2015 29.6% 2020 33.6% 96% of Americans earning $100k or more are concerned about inflation.
While a further 65% are “very concerned” about inflation. This has resulted in 46% of these high-earners cutting their spending in 2022.
People Making Over $100k Per Year FAQ
What is the median salary in the US?
The median salary in the US is $44,225 in 2022. The majority of Americans (54.98%) make $50k per year or less, while only 18% of individual Americans make $100k per year or more.
In this way, Americans are far more likely to earn less than $50k per year than they are to earn over $100k.
What is a good salary?
A “good salary” is dependent on many factors, including the cost of living in your area, inflation, and more. For example, the average annual salary in Des Moines, Iowa, is $67,519, with a median home price of $183K. While on the other hand, the average salary might be higher in NYC, at $100,260, but the average real estate cost is also much higher, at $789K.
Overall though, the average weekly earnings in the US is just over $1,000, meaning that anything above that could be considered a good salary.
Is $100k a year considered rich?
No, making $100k per year in the US is not considered rich; instead, it is generally considered upper-middle class. It could even be considered lower-middle class in some coastal cities.
However, 56% of Americans believe that making $100k per year would make them rich, meaning that most of the country considers someone with a six-figure salary to be rich.
Conclusion
In the US, 18% of individual Americans and 34.4% of households make $100k per year or more. This number has increased by 2.97% in the past five years and has nearly doubled since 1980.
However, that doesn’t mean all $100k+ earners are evenly spread. For instance, 9% more men earn $100k when compared to women, and 68.2% more White households earn $100k than Black households.
While it’s unclear whether or not these gaps will decrease in years to come, it’s essential to provide equal opportunities to all workers, so everyone has a chance to increase their earning potential.
References:
Policy Advice – What Is The Average American Income In 2022?
CNBC – How much money Americans say they need to make to feel rich
CNBC – The 10 U.S. cities where women are most likely to earn $100,000 or more
Visual Capitalist – Visualizing American Income Levels by Age Group
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Author
Jack Flynn
Jack Flynn is a writer for Zippia. In his professional career he’s written over 100 research papers, articles and blog posts. Some of his most popular published works include his writing about economic terms and research into job classifications.Jack received his BS from Hampshire College.
