Is a salary of $6,250 good enough for New York? Considering that the average salary in NYC is $6,729 and the median is $5,344 monthly, it’s safe to say this salary will be plenty. Before you accept that job offer in the Big Apple, you need to learn all about the average income in New York.

In this article, we will break down the average salary in New York City by age, location, gender, and career. We will also take a closer look at the median salary and average household income to figure out what a good salary in NYC is.

Average salary in New York City

The average monthly income in New York is $6,729 gross, or $80,751 yearly. After taxes, the average salary in New York comes down to $66,176 yearly or $5,514 monthly. That’s because income taxes in NYC are some of the highest, and residents are taxed on state and federal levels. Overall, average salaries are a great indicator of what most people in New York earn and how that compares to other cities, the cost of living, or the average income in different industries. Let’s break them down and

Average salary in NYC by area

Your salary depends on which part of New York you work in. Generally, Manhattan has the highest salaries, followed by Brooklyn and The Bronx. Broken down by boroughs, the average household income in New York City looks like:

• Manhattan: $175,743
• Brooklyn: $115,625
• Queens: $106,667
• The Bronx: $66,878
• Staten Island: $119,550

Average salary in NYC by field

Another determining factor is the field you're working in. Typically, jobs in media, finance, law, and medicine are the highest paid in New York. Here's a list of a few of the highest-paying jobs in New York:

• Information systems manager: $79,546
• Public relations manager: $82,911
• Financial adviser: $101,105
• Attorney: $105,038
• UX designer: $111,038
• Pediatrician: $131,073
• Clinical pharmacist: $134,066
• Data scientist: $140,008
• Psychiatrist: $235,823
• Anesthesiologist: $427,873

Average salary in NYC by age and experience level

Age plays a significant role in how much you earn. New Yorkers younger than 25 earn a median salary of $43,121. People aged 25–44 earn a median salary of $92,270, and those between 45–64 earn $93,854. Whereas residents older than 65 have a median income of $55,878.

Your salary is also dependent on your experience level. Entry-level jobs have lower average wages than mid-level and senior-level positions. This becomes even more pronounced when considering any special skills your job requires (e.g., coding languages for software engineers).

Average salary in NYC by gender

New York has the second smallest gender pay gap in the United States. Women in New York make $0.90 for every $1 men earn. Translated into the median hourly earnings in New York, men make $28.85 on average, whereas women earn $26 per hour.

Understanding the financial landscape in NYC, including salaries, household incomes, and the factors determining your earnings, is essential for anyone considering a move to the Big Apple. Now that you know what’s a good salary in New York, you can make informed decisions about job opportunities and finding homes for rent in New York that fit your budget.

Median salary in NYC

The median salary in New York is $64,131 yearly or $5,344 monthly. The median salary represents the exact medium of all salaries within NYC, where half of the participants earn less and half earn more than the median.

Contrary to the average salary, the median is a more accurate representation of the salaries in New York as the highest earnings don’t skew the numbers and give a nuanced perspective on income distribution.

Average household income in NYC

The average household income has increased by 5.9% year on year, coming at $113,315. The median household income in NYC is $74,694.

This figure is particularly interesting for families or roommates who share costs. The average household income provides insight into the average income earned by all household members. In NYC, a household typically includes 3 people who are family or roommates.

What’s a good salary in NYC?

So, is the average salary good enough to live in New York? Well, to lead a comfortable lifestyle in New York, a good salary between $90,000 and $100,000 gross per year (or between $71,596 — $99,434 after tax) is more than enough. With this income, you’re looking at a monthly net salary between $5,966 and $8,286, which allows you to cover your expenses and have savings. Depending on the size of your household, this number doubles or triples. Families with 1 child need to earn at least $70,000 gross per year per person.

For a single person, a minimum yearly gross income of $75,000 ($61,272 net) is considered a good salary in New York. This amounts to $6,250 monthly ($5,106 net), which is enough to cover your cost of living in New York of $4,299. Most of your monthly budget will go towards rent, so look for affordable options when exploring homes for rent in New York.

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