The average American hourly wage is $24/hour. So how many people can afford to hire you? The average person makes 40% of what you do – IF you earn $100,000.
Click through for an interactive graph which Nathan Yao has designed. It shows the distribution of income within occupations by occupation in 1960, 1980, 2000, and 2014. Looking at lawyers income you will see that most lawyers make under $100,000. A handful make $150,000 and then a sizeable group earning above $200,000 This is no surprise to me. It is a struggle to generate the $500,000 in business and fees you need to make $100,000. Note that there is employer’s shareof Social Security and Medicare is 7.65%. Plus health insurance. A good individual plan costs about $700/month. So to make declare $100,000 costs you about $115,000 minimum. So that comes to $57/hour if you work 2,000 hours/year. GWC
Shifting Incomes for American Jobs | FlowingData
by Nathan Yao