What is “good money” these days?

[Skippy909]

I recently changed careers here recently after being at my last job for 16 years. I’m only 37 so I did quite a bit of growing and learning there. A couple a weeks ago I went back to my old job and one of my old buddies asked me how my new career was and what kinda money I was making compared to my old job. Long and short of it, is I feel I make good money at my new job, wasn’t what I was making, but I’m starting over. He thought I should be making more, but who knows. What is good money these days? Is $30.00/hr good these days or does it take quite a bit
more to live comfortably? My last job was 100 percent commission, this is the first time since I was 20 that I’ve worked for an hourly wage.

[boneil]

Good money varies on job and location. Some people would love to make $30 while others wouldn't even consider it.

[TerrysRanger374V]

The area where i live, the companies seem to think they are high paying jobs at $16 an hour and you pay for benefits.

[250bassFL]

Most people in my trade down here in Florida make 12.50 to 18 a hour in this area, when working hourly on the books. I have over 30 years experience and do quality work and get in the low twenties. But because I choose to make more, I never get hired on full time. Just used when really needed by different companies.

[mattmann7]

In CT. 15 an hour is just over poverty level. The state is raising minimum wage to that in a couple years. 25 to 30 is a good wage for someone with 10 years experience starting with a good company. The bennie's are usually worth another 10. 25 to 30 gets you started and then production incentives push the scale up.

[Skeeterbait]

That is absolutely location dependant because of the wide variation of the cost of living from location to location. What is comfortable anywhere in Alabama would likely take over three times as much in places like San Francisco just to not be in poverty.

[Duece22]

$30/hr in Ohio is pretty decent money. I work on straight commission and while it's more money, it's hard to beat a paycheck every week.

[Iowa Bass Hunter]

I agree with others on the location for cost of living there. Another consideration is your occupation. For instance if you were an electrician making $20/hr, I don't think that's good money when you could be making $30/hr at a different company.

[slonezp]

It's relative to your cost of living and you lifestyle. Median family income nationwide is roughly $60k a year. Based on a 40 hour work week, $30 an hour is average for a single breadwinner.

[Iowa Bass Hunter]

It's relative to your cost of living and you lifestyle. Median family income nationwide is roughly $60k a year. Based on a 40 hour work week, $30 an hour is average for a single breadwinner.

Those numbers don't compute. So $30*1800(full time hours) = $54,000. That leaves only $6,000 for the counterpart. Something is off.

[bdog7198]

Those numbers don't compute. So $30*1800(full time hours) = $54,000. That leaves only $6,000 for the counterpart. Something is off.

Full time hours are 2080, which makes $30 an hour a little over $62K.

[n2ratfishin]

Look at your skill sets and compare them to positions in your area on sites like salary.com, salaryexpert, and Glassdoor. The sites will give you things like average education and years of experience. Take a job posting and see where you fit in. A job posting is a wish list to an employer. If you have 100% look at the tops of those bell curve averages. If you have more than they want look from the 50 percentile to the 75 percentile. If you don’t have a couple things they want...50 percentile to 25 percentile.

Take an average of all three sites and you should have an idea on your skill set worth in a certain area.

There are a host host of government and other sites you could use to ensure you are working in the right career. They involve academic and personality assessments. There are no 100% guarantees in this area. The self assessments will give you an idea of who you are, why you’re changing, and what you may excel at next.

IMO The market, not the employers figure out the pay scale. People love to hate on and or say they are banning xxxxxxxx as they walk in the front door. Short of a public service customers can put most any business in America out of business.

My wife and I looked at a brick and mortar biz here in town. A good location was going to be about 5,000 a month on a triple net. That doesn’t count insurance or utilities. I find people who scream about how much people should pay have never had to make payroll.

PS You shouldn’t be discussing your income with “your buddy.”

[Ben Danbleume]

I agree with others on the location for cost of living there. Another consideration is your occupation. For instance if you were an electrician making $20/hr, I don't think that's good money when you could be making $30/hr at a different company.

I don't know any electrician that would work for $20 and hour. My Dad made that back in the 80's.

[bdog7198]

Look at your skill sets and compare them to positions in your area on sites like salary.com, salaryexpert, and Glassdoor. The sites will give you things like average education and years of experience. Take a job posting and see where you fit in. A job posting is a wish list to an employer. If you have 100% look at the tops of those bell curve averages. If you have more than they want look from the 50 percentile to the 75 percentile. If you don’t have a couple things they want...50 percentile to 25 percentile.

Take an average of all three sites and you should have an idea on your skill set worth in a certain area.

There are a host host of government and other sites you could use to ensure you are working in the right career. They involve academic and personality assessments. There are no 100% guarantees in this area. The self assessments will give you an idea of who you are, why you’re changing, and what you may excel at next.

IMO The market, not the employers figure out the pay scale. People love to hate on and or say they are banning xxxxxxxx as they walk in the front door. Short of a public service customers can put most any business in America out of business.

My wife and I looked at a brick and mortar biz here in town. A good location was going to be about 5,000 a month on a triple net. That doesn’t count insurance or utilities. I find people who scream about how much people should pay have never had to make payroll.

Excellent advise here!!

You should check this every few years to see where you fit in the current market, especially if you are being proactive in continuing to learn.

[Jamie]

Its all about the location. Here $25 with benefits is good money. The job I work at now the 401k is 100% match up to 10%. That is the best 401K that I have ever had.

[Matt20xd]

"Good money" depends on location and your lifestyle. Have meet plenty of people making dang good money but are in debt up to their eyes.

[BigFishSteve]

There is a formula for it, but basically, if you don't think twice about putting a new set of Michelins on your truck and your wife SUV in the same week, you are making decent money.

[n2ratfishin]

Great post Steve...it all depends on your lifestyle.

You might have one one employee that does a job that’s single with no children doing the same thing as their co-worker with four children. It’s none of the employer’s business how you live and what your bills look like.

[Meadows]

It depends on your occupation and location. A lot of my friends around here who don't have a skilled trade or college degree are making anywhere from $40-$60K. Ones with a skilled trade or degree make anywhere from $60K-100K+.

[tcesni]

Those numbers don't compute. So $30*1800(full time hours) = $54,000. That leaves only $6,000 for the counterpart. Something is off.

You are assuming that both spouses are working whereas many households are single parent or with only one working person. Another way to look at this question, and probably more to the OP's question, in Q1 2019 the median wage in the U.S. was $905 for a 40 hour work week. Assuming a 52 week year that totals $47,060. Of course a lot of folks in the U.S. don't get any paid vacation and if they take any time off that number will be bit less. This is the median wage, not the average wage.