How Many People Make Over 100k in a Year?

A billionaire and Warren Buffet’s right-hand man, Charlie Munger,  knows one or two things about building wealth.

The Berkshire Hathaway Vice Chairman believes making the first $100,000 is such an integral step that wealth seekers can start easing their foot off the gas once this is attained.

Of course, such an amount is nothing extraordinary for Wall Street players. But it takes some doing for other Americans to belong to this bracket.

So how many people make over 100k a year?

Facts and Stats About Americans Making More Than Six Figures (Editor’s Choice):

• 13% of American workers aged 15 and above made more than 100k in 2021
• The annual income of over 34% of American households exceeds $100,000.
• In the five years to 2022, American households earning over $100,000 a year increased by 2.9%.
• Asian households represented the biggest cohort earning over $100k a year in 2021.
• The number of working American men who made six figures or more in 2021 was 9% more than women.

We’ve also compiled a list of professions and positions netting $100k+ a year. Maybe this information will help you enter this highly-desired bracket, so read on.

General Overview

Before narrowing it down to the specifics, let’s take a quick look at some important general statistics.

1. 13% of American workers aged 15 and above made more than $100k in 2021.

(Source: The Census Bureau)

What percentage of Americans make over 100k in the United States?

This is an intriguing question. 2021 data shared by the Census Bureau shows there were a total of 268,723 workers aged 15+. Out of these, 34,258 made $100,000 or more.

Do you think these individuals enjoy financial stability? The following stat may surprise you.

2. 45% of Americans earning more than $100k live from paycheck to paycheck.

(Source: PYMNTS)

A report published by The Lending Club Corporation and Pymnts.com shows that 45% of those earning more than $100,000 were living paycheck to paycheck in August 2022, representing a 7% increase from 38% in September 2021.

The data also shows that 62% of consumers earning between $50,000 and $100,000 lived paycheck to paycheck, up from 57% in September 2021. The research also showed that 74% of consumers making less than $50,000 were living paycheck to paycheck, a 4% decrease from the 78% recorded in September 2021.

We can only speculate on the reasons for that. It may be the increasing cost of living, the insufficient financial literacy, or the Millennials entering their prime spending years and forking out more than $4 for a cup of coffee.

3. Over 34% of American households make over $100k a year.

(Source: Ibis World)

Everyone grows up in a family where the quality of life is defined by how much the breadwinners make. A household income of $100,000 is widely considered to be the standard. This begs the question: How many American households rake in this much?

In 2022, 34.4% of American households earned more than $100,000. This was a slight increase from the 33.8% recorded in 2021.

Meanwhile, the most recent data (2020) shows the average annual income brought in by American households is $67,521.

4. Households earning over $100k a year increased by an estimated 2.97% in five years.

(Source: Ibis World)

According to Ibis World, the increase is due to the recent proliferation of high-paying jobs in the technology and financial industries.  Other reasons include the continuous demand for higher education and tech-driven growth.

The level of education also affects people’s incomes, as you will see further down our stats list.

Income by Demographics

Various studies show that demographics influence the salary earned by the average American. Tons of reports document how gender and race are major contributing factors in this context.

Gender

The lack of parity in men’s and women’s pay packets is still rampant across the United States.

Howso?

5. Women earned 84% of what men earned in 2020.

(Source: Pew Research Center)

American society has made significant progress in its quest to promote gender equality. But is this advancement reflected in how women are compensated for doing the same amount of work as men?

Apparently not. According to Pew’s research, women would have to work an extra 42 days in 2020 to achieve pay parity with men.

Fast forward to 2022, the situation wasn’t any better. Second-quarter wage statistics show that the median weekly earnings of women were $943. This was 10% less than the total median earnings of all workers and 21% less than the median weekly earnings for men.

6. The median earnings of all working men in 2021 were $50,983.

(Source: The Census Bureau)   

In 2021, the median earnings of all working men aged 15 years and above decreased by 0.9% to $50,983 from $51,446 in 2020.

At the same time, the median earnings of men aged 15 years and above who work full-time, year-round, decreased by 5% from $64,217 in  2020 to 61,180 in 2021.

7. The median earnings of all working women were $39,201 in 2021.

(Source: The Census Bureau)   

During the year under review, the median earnings of all working women aged 15 years and above increased by 4.4% to $39,201 from $37,527 in 2020.

Meanwhile, the median earnings of women aged 15 years and above who work full-time, year-round, decreased by 4% to $51,226 from $53,387 in 2020.

Race

In 2020, white households earned significantly more than any other race. Only the white community had more than 100,000 households earning six figures or more.

That said, at least 4,000 households from every race earned more than the median US salary.

In 2021, Asian households earned significantly more than white and black households. Official data shows approximately 4,438 Asian households made more than the median US salary of $70,784.

8. 37% of white households earned $100,000 or more in 2021.

(Source: The Census Bureau) 

Out of 102,057 white households, 38,067 earned $100,000 or more.

When broken down into specifics, 16,941 white households (16.6%) earned $100,000 to $149,999. Another 8,776 white households (8.6%) earned $150,000 to $199,999. And a substantial 12,348 white households (12.1%) earned $200,000 and above.

Official data estimates the median income of all white households in 2021 at $74,262.

9. 22% of black households earned $100,000 or more in 2021.

(Source: The Census Bureau)  

During the year under review, there were a total of 17,698 black households. However, only 3,840 earned $100,000 or more.

Out of the 3,840 black households that earned $100,000 or more, 2,017 households (11.4%) earned between $100,000 to $149,999.

Another 814 households (4.6%) earned between $150,000 to $199,999. Meanwhile, some 1,008 (5.7%) households earned $200,000 and above.

Moreover, the estimated median income of black households for 2021 was $48,297.

10. More than half of Asian households earned $100,000 or more in 2021.

(Source: The Census Bureau)  

Have you ever wondered which community earns the most in the United States? Official data shows that Asian households earned significantly more than other racial groups.

During the period under review, 3,710 (51%) out of 7,276 Asian households earned $100,000 or more.

Out of the 3,710 households that earned $100,000 and above, 1,287 (17.7%) earned between $100,000 and $149,999. Another 887 households (12.2%) earned between $150,000 and $199,999.

Notably, the largest number of Asian households earned $200,000 and above. Statistics show that 1,535 Asian households (21.1%) belonged to this income bracket.

The estimated median income for all Asian households in 2021 was $101,418.

11. 27% of Hispanic households earned $100,000 or more in 2021.

(Source: The Census Bureau)

According to the Census Bureau’s 2022 data, out of 19,230 Hispanic households, 5,153 (26.8%) earned $100,000 or more.

The research also shows that 2,749 households (14.3%) earned between $100,000 and $149,000.

Another 1,134 households (5.9%) earned between $150,000 and $199,000. Similarly, some 1,269 households earned $200,000 or more.

The estimated median income of all Hispanic households in 2021 was $57,981.

Race & Gender

The script is almost similar as far as earnings are analyzed from the more specific gender & race lens.

12. 17% of working American men aged 15+ made six figures or more in 2021.

(Source: The Census Bureau)

Official data shows there were a total of 131,389 working American men aged 15 and above during the year under review. Out of these, 22,619 (17.2%) made $100,000 or more.

Statistics also show a total of 66,369 men worked full-time, year-round. Out of these, 18,841 men (28.4%) earned $100,000.

13. 8.4% of working American women aged 15+ made six figures or more in 2021.

(Source: The Census Bureau)

The agency’s data backs findings from other reports, which establish a disparity in men’s and women’s earnings.

In 2021, there were a total of 137,334 working women aged 15 and above. Out of these, 11,639 (8.47%) earned $100,000 and above.

In the same year, the number of women aged 15+ who worked full-time, year-round, was 51,002. Almost a fifth (18.5%) of this lot earned $100,000 or more.

14. 18% of working white American men earned $100,000 or more in 2021.

(Source: The Census Bureau)

Out of the 102,427 white men aged 15+ working in different parts of the United States in 2021, 18,728 earned $100,00 or more.

At the same juncture, 29% of white men who worked full-time, year-round, earned $100,000 or more.

15. 8% of working Black American men earned $100,000 or more in 2021.

(Source: The Census Bureau)

The number of working Black American men earning $100,000 or more pales compared to White American men by 10 percentage points.

Data from the Census Bureau shows that out of 16,126 black men in 2021, 1,343 earned $100,000 or more.

Meanwhile, 16% of Black American men who worked full-time, year-round, earned $100,000 and above.

16. 9% of working White American women earned $100,000 or more in 2021.

(Source: The Census Bureau)

This was half the number of working white men who made such an amount.

Official data shows that out of 104,574 working White American women, only 8,963 made $100,000 and above.

On the brighter side, a sizable 19% of White American women who worked full-time, year-round, made $100,000 or more.

17. Only 6% of working, Black American women made $100,000 or more

(Source: The Census Bureau)

During the year under review, there were a total of  18,692 working Black American women. Out of these, only 1,087 made $100,000 and above.

The percentage was higher for Black American women who worked full-time, year-round, at 13%.

Income by Socio-Economic Background

The socio-economic settings Americans find themselves in play a huge role in determining whether they earn more than $100,000. The most prominent influencers, as per 2021 Census Bureau data, include:

• Marital status
• Education

Marital Status

18. Married-couple households are the most financially secure.

(Source: The Census Bureau)

The Income in the United States: 2021 report shows that married couples had the highest median income at $106,921. This was a 0.3% increase from the $106,582 posted in 2020.

19. Households led by men with no spouse earned $70,525 in 2021

(Source: The Census Bureau)

Official data shows households that depend on a man with no spouse are the second most financially secure family units.

These types of families recorded a median income of $70,525 in 2021, which was a 0.06% increase from 2020.

20. Households led by women with no spouse earned 27% less than male-led households in 2021.

(Source: The Census Bureau)

The gender disparity theme repeats itself once again, with data showing that female-led households without a spouse posted a median income of $51,168.

This was actually a 0.75% decrease from the $51,554 recorded in 2020.

Education

Research further shows households with a higher level of education tend to rake in more income.

21. Households maintained by someone with a bachelor’s degree earned the most in 2021.

(Source: The Census Bureau)

American households dependent on someone with at least a Bachelor’s degree had the highest median income at $98,461. This was a 1.5% increase from 2020, when the figure was $97,019.

Households maintained by someone with at least some college education posted the second-highest median income at $61,111.

Those maintained by someone educated up to high school level had a median income of $50,124. Notably, those maintained by someone with neither a high school nor college education had a median income of $34,642.

Income by Profession

When discussing how many people make over 100k a year, we should also track data on various professions.

Research shows managerial, business & finance, healthcare, architecture & engineering, and law are some of the highest-paying careers.

Management

Has the question of how much senior managers earn in corporations and large enterprises ever crossed your mind?

22. The average annual wage for management positions is $123,370.

(Source: BLS)

Top managers are part of the exclusive club that earns more than $100,000 per year.

The exact figure depends on the specific management position and the field. However, most managers across various economic sectors earn more than the quoted amount.

CEOs

Some 200,480 Chief Executives heading companies across the United States are among the top-earning professionals, with an annual mean wage of $213,020.

• The mean hourly wage is $102.41.
• The median hourly wage is $86.31.

Top Executives

Another 3.2 million senior executives, including Chief Financial Officers (CFOs), Chief Operating Officers (COOs), and Chief Strategy Officers, are also handsomely compensated. The annual mean wage for this group is $120,520.

• The mean hourly wage is $57.94.
• The median hourly wage is $47.46.

Human Resource Managers

Data also shows that 166,530 human resource managers feature among the top earners in the United States. The annual mean wage for these professionals is $136,590.

• The mean hourly wage is $65.67.
• The median hourly wage is $60.69.

Financial Managers

The 681,070 registered financial managers dishing out professional financial advice are also in the top wage bracket. BLS data shows their annual mean wage is $153,460.

• The mean hourly wage is $73.78.
• The median hourly wage is $63.32.

Business & Financial Operations

Besides managerial positions, jobs in business and financial operations are also highly-rewarding.

23. The average annual mean wage for Business & Financial Operations positions is $82,610.

(Source: BLS)

Some of the highest-paid professionals in this field include agents, management analysts, financial analysts, and financial advisors.

Agents & Business Managers

The agents & business managers of artists, performers, and athletes also earn more than $100,000 per year. At the time of conducting the BLS research, there were 12,480 agents across all 50 states with an annual mean wage of $116,410.

• The mean hourly wage is $55.97.
• The median hourly wage is $37.70.

Management Analysts

Crunching management data is also a well-paying profession. The 768,450 management analysts working in various American companies earn an annual mean wage of $100,530.

• The mean hourly wage is $48.33.
• The median hourly wage is $44.71.

Financial Analysts and Advisors

Looking at metrics carefully to predict a trend and advising people on making the right financial moves is another well-rated career. The annual mean wage for the 716,930 professionals with such a job description is $106,340.

• The mean hourly wage is $51.13.
• The median hourly wage is $39.29

Healthcare

Dentists, pharmacists, surgeons, and physicians form the cream of the highest-paid healthcare practitioners.

24. The average annual mean wage for Healthcare Practitioner positions is $91,100.

(Source: BLS)

Although the annual mean wage for practitioners across all fields falls below $100,000, several specialists rake in more than this amount.

Dentists

Dentists are some of the most well-paid healthcare professionals, with an annual mean wage of $177,770. The hourly rates for the 124,680 registered dentists also reflect a similar position.

• The mean hourly wage is $85.47.
• The median hourly wage is $78.47.

Pharmacists

The 312,550 pharmacists distributed across all 50 states are also well compensated, with an annual mean wage of $125,690. This is significantly higher than the national average salary.

• The mean hourly wage is $60.43.
• The median hourly wage is $61.81.

Surgeons

For the 58,280 surgeons with different specialties, the annual mean wage is $294,520.

The mean hourly wage is $141.60.

Physicians

Physicians are also top-earning health practitioners. The annual mean wage posted by the 641,380 professionals is $252,480.

The mean hourly wage is $121.38.

Law

The legal profession is also top-shelf. Lawyers with a strong reputation take home higher rates compared with other careers.

25. The average annual mean wage for Legal Occupations is $113,100

(Source: BLS)

The bench is not shabby either, with judicial workers able to command competitive wages.

Lawyers

The annual mean wage earned by 681,010 lawyers across the US is $148,030.

• The mean hourly wage is $71.17.
• The median hourly wage is $61.54.

Judges, Magistrates, and Other Judicial Workers

The 48,950 legal professionals working in the US judicial system also attract top salaries with an annual mean wage of $119,690.

• The mean hourly wage is $57.54.
• The median hourly wage is $53.15.

Architecture and Engineering

Why would architecture and engineering be grouped separately when laying out wage data? The two careers overlap, and professionals work together and constantly consult when working on projects.

25. The average annual mean wage for Architecture and Engineering Positions is $91,740.

(Source: BLS)

The only difference is that engineering positions command higher salaries than careers within architecture.

Architects, Surveyors & Cartographers

The annual mean wage commanded by the 176,840 architects, surveyors, and cartographers is $82,880.

• The mean hourly wage is $39.85.
• The median hourly wage is $37.34.

Engineers

Engineering is also a career that attracts superior salaries compared to most professions. Some 1.6 million engineers rake in an annual mean wage of $104,000.

• The mean hourly wage is $50.00.
• The median hourly wage is $47.62.

Final Thoughts

An income of $100k or more is a tale of the beautiful and the ugly.

The beautiful: Work hard, be passionate about a profession, find the right partner, and build a financially prosperous future.

The ugly: Grow up in a humble background without access to a good education, and you will struggle to get the same opportunities as your peers.

Ideally, the playing field should be level for everyone, but we live in an imperfect world. The only solution is to seize every opportunity and outwork everyone else.