New York City has one of the highest costs of living in the country, so one would assume that it has a high average salary too.
The average annual salary in New York City is based on the people in the actual workforce, which does not include people who do not work by choice.
The average annual salary depends on many factors including your job, your industry, and where you work.
If you work in Manhattan, you will likely make more money than if you work in a different borough, and the same is true for your cost of living.
This article will detail who works in New York City, what the median household income is, and give some information about the average salary by job and industry. Last, we will discuss the cost of living in New York City.
Contents
New York City’s Working Population
In New York City, the largest city in the United States, the total population is more than 8.3 million.
However, as with anywhere in the world, not all of these people work. The percentage of people over sixteen who are in the labor force is 63.6% or just over four million people.
In comparison, the total population of New York state is nearly nineteen and a half million, with sixty-three percent of those people over sixteen in the labor force.
Additionally, we can compare the working population in NYC and New York state to the entire United States. The entire United States population is a little over three hundred and twenty-eight million. Like New York, and just below the metric in New York City, sixty-three percent of people over sixteen in the United States are in the labor force.
(Source: US Census Bureau, 2019 data)
New York City Median Household Income
As of 2019, the median household income in New York City is $63,998. The median means that half of the households in New York City have a total income of over $63,998, and half have an income below $63,998.
Also, as of 2019, the number of households in New York City was 3,167,034, and the average number of people per household is 2.6. This metric means that, on average, 2.6 people are making a combined median income of $63,998.
The median household income in New York City is above the national median of $62,843. However, the median household income in the whole state of New York is much higher at $68,486.
(Source: US Census Bureau, 2019 data)
New York City: Average Salary by Job
In this section, we have listed more than twenty popular jobs and their average salary in New York City. We also included the comparison of the average New
York Salary to the average salary for that job in the United States.
All of the data in this section comes from Indeed job site.
Accountant
The average salary for an accountant in New York City is $63,123 per year.
The salary in New York City is higher than the national average of $57,515 per year for accountants.
Administrative Assistant
Administrative Assistants in New York City have an average annual salary of just over $40,000 per year.
The average annual salary of administrative assistants in the United States is actually higher than New York City at $43,455.
Architect
Architects in New York City have an average salary of almost one hundred and seven thousand per year.
The national average income of architects is a few thousand dollars less at $104,491.
Bartender
Bartenders in New York City make an average of $44,810 per year. They also make money from tips.
The national average income for bartenders is under forty thousand dollars per year.
Bookkeeper
A Bookkeeper in New York City has an average annual salary of $45,612. The New York City salary is much higher than the national average income of bookkeepers at just under thirty-eight thousand dollars per year.
Cashier
The average cashier in New York City makes $30,486 per year. The New York City salary is higher than the national average of just under twenty-six thousand dollars per year.
CEO
Chief Executive Officers in New York City have an annual base salary of just over one hundred and fifty thousand dollars per year. This income amount is not including any commissions, bonuses, or other earnings they receive throughout the year.
The average annual salary of CEOs in the country is around one hundred and twenty-two thousand dollars. Like the average in New York City, this does not include the high bonuses and commissions that CEOs typically receive.
Construction Worker
A construction worker in New York City will have an annual salary just above forty thousand dollars per year.
The national average income for construction workers is very similar at just under forty thousand dollars per year.
Customer Service Representative
Customer service representatives in New York City earn an average of $59,307 per year.
The New York City salary is over ten thousand dollars higher than the national average for customer service representatives.
Doctor
Doctors’ salaries can vary depending on the medical field that they are in. But, the average physician in New York City has an average annual salary of over three hundred thousand dollars.
The New York City salary is higher than the national average income for physicians, which is just under two hundred and fifty thousand dollars per year.
Electrician
Electricians in New York City earn more than sixty thousand dollars per year on average. New York City electricians earn approximately five thousand dollars higher than the national average of fifty-five and a half thousand.
Engineer
Engineers in New York City have average annual earnings of just over ninety-five thousand dollars.
The salary for engineers in New York is significantly higher than the national average of just under seventy thousand dollars per year.
Janitor
Janitors in New York City make more than $44,500 per year on average. The national average salary for janitors is more than ten thousand dollars less than the average in New York City at just under forty-four thousand.
Lawyer
Lawyers in New York City have one of the highest paying jobs, making nearly one hundred and thirty thousand dollars per year on average.
The national average income for lawyers is significantly less. It is almost half the New York City average. The national yearly average is $73,688.
Manual Laborer
A manual laborer in New York City can expect to have an average annual salary of $38,390. This average is five thousand dollars higher than the national average laborers at $33,467.
Mechanic
Mechanics in New York City make an average annual salary of nearly sixty thousand dollars per year.
In the United States, mechanics have a lower average annual income of under forty-five thousand dollars.
Office Clerk
An office clerk’s average salary in New York City is just over sixty thousand dollars per year.
The average annual income for office clerks nationally is just over fifty-four thousand dollars.
Police Officer
Police Officers in New York City have an average salary of nearly seventy thousand dollars per year.
The national average income for police officers is fifteen thousand dollars less per year at just over fifty-four thousand dollars.
Registered Nurse
Registers nurses in New York City have a high annual salary, making nearly ninety-five thousand dollars on average.
The salary for registered nurses in New York City is significantly higher than the average income for registered nurses in the United States. They make an average of $78,752 per year.
Retail Worker
A retail worker in New York City makes just over forty-eight thousand dollars per year on average.
The national average salary for retail workers is just over thirty-nine thousand dollars per year.
Server
Servers in New York City have an average annual salary of $40,506. The New York City salary is a few thousand dollars higher than the average national income of $37,019 per year for servers.
Software Engineer
Software engineers can make a high annual salary in New York City with an average of more than one hundred and twenty-six thousand dollars per year.
The income for software engineers in the United States is significantly lower at just over one hundred and five thousand dollars per year on average.
Teacher
Teachers have an average annual salary of $54,609 in New York City. The national average income for teachers is just under twenty-four thousand dollars per year.
The difference between the two average salaries is more than fifty percent. It is the largest difference of all the salaries on the list.
Highest And Lowest Paying Industries In New York City
The five highest paying industries in New York City all have a median annual salary of over eighty thousand dollars.
The highest-paying jobs are in the legal industry, which has a median income of one hundred and twelve thousand dollars, nearly double that of New York City.
The second highest paying industry is Computer and Mathematical related. These jobs pay a median salary of just over ninety thousand dollars per year.
The third, fourth, and fifth-highest paying industries all pay between eighty-one and eighty-two thousand dollars per year. In order of pay, these industries are management positions, computer, engineering, and science jobs, and finally, business and financial jobs.
On the other hand, there are also five lowest-paying industries, all of which have median earnings well below the city’s median. The lowest paying jobs are in the personal care industry, with median earnings of under twenty-two thousand dollars per year.
The next two lowest-paying industries are healthcare support and farming, forestry, and fishing. Both of these have median yearly earnings between twenty-three and twenty-four thousand dollars per year.
The fourth lowest paying industry is material moving which pays just over twenty-five thousand dollars per year. Finally, rounding out the five lowest paying jobs is food preparation and service jobs which pay just under twenty-five and a half thousand dollars each year.
How Does New York City’s Median Household Income Compare to the Cost of Living?
The cost of living in New York City is extremely high compared to the rest of the country. In fact, New York City has one of the highest costs of living at 129% higher than the national average.
Housing alone is 369% higher in New York City than the national average. The housing cost does depend on when in the city you live, with Manhattan being the most expensive.
The high cost of living in New York City explains why the annual average salary is much higher in New York. Where you live in the city and what type of lifestyle you live will determine your cost of living.
If you have a job with a lower annual average salary, you need to live somewhere with lower housing costs, use cheaper transportation, and keep your excess spending to a minimum.
If you have a high paying job like a lawyer or a software engineer, you can afford the high cost of living in New York City. You can live in one of the more expensive neighborhoods in Manhattan, dine out more, or even own a car.
Conclusion
The median salary for New York City is higher than the national average. But, the range of average salaries in the city varies greatly depending on the job, the industry, whereas in the city you work, and what company you work for.
Lawyers, software engineers, and CEOs have the highest salaries in New York City. These salaries are also very high compared to their national averages.
If you want to live in New York City, make sure you consider your job’s annual salary compared to your cost of living.
Source links:
- census.gov/quickfacts/fact/table/NY,US,newyorkcitynewyork/PST040219#PST040219
- indeed.com/career/salaries
- datausa.io/profile/geo/new-york-ny#economy
- data.census.gov/cedsci/profile?g=1600000US3651000
- indeed.com/career-advice/finding-a-job/highest-paying-jobs-nyc
