What is considered a high income for millenials? (18-34)

[Anonymous]

Older millennial here and we make about 200k combined. Our incomes are more than twice that of our parents at our age, but our standard of living is much lower, mostly because we are saving up for a decent home in a good school district - our parents were able to afford that by the time they were in their mid-20s!

[Anonymous]

Not a millennial, but I have hired some. Salaries I offer range from about 70K (BS with no grad school) to 90K (PhD no experience).

In the first few years of work, I tell people to expect salaries to go up faster than later in the career.

FWIW, adjusted for inflation, my starting salary in 1994 would be 80k; when I was 34, I was earning (adjusted) 95K, at 40, I was making 108,000, by 45 I was making 155 adjusted, and today (at 51), 165K.

My high year is current year and 2013. (including bonus).

[Anonymous]

Anonymous wrote:Older millennial here and we make about 200k combined. Our incomes are more than twice that of our parents at our age, but our standard of living is much lower, mostly because we are saving up for a decent home in a good school district - our parents were able to afford that by the time they were in their mid-20s!

This. We make about the same. We live in Middle Arlington in a cottage. Our parents could afford bigger homes, but we chose to live close in. We've got neighbors who made less at our ages but bought in the late 90s so have much more cash now. Child care is subsidized, and makes it possible for us to live there, but it keeps one of us in a job we don't always love.

[Anonymous]

28/29. Most of my friends make 75-100k. Married that's a great income and we aren't struggling. We all live nice UMC lives in DC and surrounding suburbs, travel often, eat out, nice clothes.

[Anonymous]

Anonymous wrote:28/29. Most of my friends make 75-100k. Married that's a great income and we aren't struggling. We all live nice UMC lives in DC and surrounding suburbs, travel often, eat out, nice clothes.

Same was true for us until kids came in the picture

[Anonymous]

We're both 30 and cash poor ("" by DCUM standards, anyway) but have a good number of benefits due to DH's job: live in western Europe rent-free, COL adjustment/ addition, income less taxed than when we lived in the states. We own a house back home that we rent out. Combined HHI is 100k (the vast lion's share of that being my DH's salary - I work very PT and we have one kid).

Looking around, it seems we're on the lower end of combined HHI income, but have benefits that others don't have. It's a trade-off, I guess.

[Anonymous]

Anonymous wrote:Under-earning because jobs that used to require bachelor's degrees now need a masters and a bunch of certificates.

Wrong

Wages have not increased with inflation, daycare is much more expensive, housing is more expensive

Correct

and there are incidentals like $200 a month cell phone plans the previous generation didn't have.

You must be joking.

[Anonymous]

DH and I (27 and 28) earn $103 combined.

We feel too poor to have kids.

[Anonymous]

35 and 40

We found that a HHI of about 300-400k to be comfortable not really rich in this area.

[Anonymous]

I am 34 and DO NOT consider myself a millennial.

But my HHI is about $280k, which I think is pretty middle of the road among my friends - two-teacher households obviously make less, two big law counsels make way more than we do...

[Anonymous]

Both 23, HHI $100k. Very low for this board but we live very comfortably while still saving - but we don't have car payments/student loans/other debt, which makes a big difference.

[Anonymous]

18-34 is a HUGE age range.

I made $45K when I was 21 and $120K at 34. Both of those were high incomes at those ages.

[Anonymous]

I thought Millennials were people in their 20s? That people in their early 30s are Gen Y, late 30s/40s are Gen X?

[Anonymous]

Anonymous wrote:18-34 is a HUGE age range.

I made $45K when I was 21 and $120K at 34. Both of those were high incomes at those ages.

$120k at 34 is not "high income" for that age...

[Anonymous]

Anonymous wrote:I thought Millennials were people in their 20s? That people in their early 30s are Gen Y, late 30s/40s are Gen X?

I think millenials are those born 1983-2000, so the oldest are in their early 30s