What is considered a "good salary" in the DMV?

[Anonymous]

The median HHI in Arlington is $120k. A family of four can get an affordable unit if they make less than $103k.

[Anonymous]

I think 100k is a good salary. I make a little less, DH makes a little more. 200k is a fine income for a family in DC.

[Anonymous]

So many factors here... what profession/industry? How many years of experience? For profit or non profit employer?

[Anonymous]

Keep in mind the average HHI income includes retirees. I think the average is higher than $120k

[Anonymous]

Anonymous wrote:What salary is a good salary in this area?

Good for what? If you actually want a helpful answer, provide context.

[Anonymous]

Anonymous wrote:This is going to vary dramatically based on the circles people run in. I bet if you polled the greater DC area, the average quoted amount for a good salary is going to be about $75-100k.

But there will be people who primarily run in younger, working class, non-college educated circles who will say $50k. There will be people right here on DCUM who will say $250k+. Good is relative.

Or college educated teachers. I don't make much more than that.

[Anonymous]

We make a combined $250 and feel quite wealthy in the northern Virginia burbs.

[Anonymous]

Anonymous wrote:We make a combined $250 and feel quite wealthy in the northern Virginia burbs.

Many people in the dmv have this income. We know people at this level who seem to have very good lives and others who seem to be struggling.

One couples comes to mind - doctor and lawyers both with heavy school loans. They have to pay off their loans, pay for a full time nanny and preschool tuition. They always seem like they are struggling.

We know another doctor fresh out of residency who has 400k debt. Also does not act like he has a good lifestyle even though he earns 300k+ in dc with 2 kids. Thinking about private school tuition for kids in dc while trying to pay off school loans.

I have one friend who is a SAHM military spouse and they seem to have a perfect life. Her home is beautiful. Kids are always well dressed. They often go on driving trips to visit family and use military perks for good travel.

[Anonymous]

It's all relative. We make 500k and don't feel wealthy at all. We have a large chunk of that. When we were making 250k, we lived a fine life, just didn't save as much. Now at 475-500k we save close to 200k a year. Essentially, 250k was the point where we could live comfortably, the amount over than is purely savings at this point.

So to answer, I would say 250k is a "good salary"

[Anonymous]

Anonymous wrote:It's all relative. We make 500k and don't feel wealthy at all. We have a large chunk of that. When we were making 250k, we lived a fine life, just didn't save as much. Now at 475-500k we save close to 200k a year. Essentially, 250k was the point where we could live comfortably, the amount over than is purely savings at this point.

So to answer, I would say 250k is a "good salary"

sorry *we SAVE a large chunk of that*

[Anonymous]

There are also high income people who live frugally and do not make noise about their money, rental properties, vacations

[Anonymous]

Anonymous wrote:Keep in mind the average HHI income includes retirees. I think the average is higher than $120k

Maude if you take out poor people and old people the average is much much higher. That’s why $300k is middle class in Arlington.

[Anonymous]

350K - with no childcare cost, low mortgage, no private school cost, no physical-mental-behavioral-legal-educational issues remediation costs, no divorce, SAHM household, no pets, no eldercare costs, no college debt, a good pension plan, secure job, lots of benefits --- its fantastic. Its us.

500K - with expensive childcare, expensive house, private school costs, any therapy or treatment, any legal costs, pets, eldercare, divorce, college debt - you are drowning and you are no longer well off.

See, only Bezos or Gates do well even when they divorce.

[Anonymous]

Anonymous wrote:350K - with no childcare cost, low mortgage, no private school cost, no physical-mental-behavioral-legal-educational issues remediation costs, no divorce, SAHM household, no pets, no eldercare costs, no college debt, a good pension plan, secure job, lots of benefits --- its fantastic. Its us.

500K - with expensive childcare, expensive house, private school costs, any therapy or treatment, any legal costs, pets, eldercare, divorce, college debt - you are drowning and you are no longer well off.

See, only Bezos or Gates do well even when they divorce.

This is so dumb. If you make 350k there is no reason to worry about childcare cost or mortgage. Childcare cost is temporary and on 350k it's easy to buy a million dollar house an still take vacations, eat out, etc. I don't know why therapy is so front and center in your post - sounds like you must hang around with some crazy people

[Anonymous]

Occupational employment and wage data for the DC metro area, from May 2020, are available here:

https://www.bls.gov/oes/current/oes_47900.htm

Find your occupation and then look at the MEDIAN hourly wage. Multiple the median hourly wage x 2080 (hours) to get the median annual wage. If your annual wages are above the median, you are paid more than half of the workers employed in your same occupation in the DC metro area. That’s one approach to determining if your salary is “good.” From that same webpage, you can also download an excel file to see other percentiles beyond the median (50th percentile.). You can compare if you make more than three-quarters (75th percentile) or even compare to the 90th percentile of DC metro workers in the occupation.

Here is the scope of what is included/excluded in this wage data:
Wages for the OEWS survey are straight-time, gross pay, exclusive of premium pay. Base rate; cost-of-living allowances; guaranteed pay; hazardous-duty pay; incentive pay, including commissions and production bonuses; and tips are included. Excluded are overtime pay, severance pay, shift differentials, nonproduction bonuses, employer cost for supplementary benefits, and tuition reimbursements.