One in seven married couples made 200k/yr or more in 2017

That is courtesy of the American Community Survey’s 1 year estimate for that year.

One in nine make 150-199k per year.

Put it together and we now have 1/4 of married parents with $150,000 or more annual household income.

The largest single income group remains $100-149,999 per year, with now over 5 million households but still about 23% of the total.

Put 25 and 23 together and you get 48% of married parents make 100k a year or more as a household in 2017. Remember, in 2006 48% made 75k/yr or more (in current dollars).

Now barely 7 million households bring in 50-99k per year (still split about 50/50 from 50-74k and 75k-99k), which is barely 1/3 of married parents.

We’ve reached the point where less than 1/5 of married parents have household incomes of 49k per year or less.  Let that sink in.

The true middle range for all the people married and raising kids right now is 100-150k.  This is true even in the lowest income region, the South,  at 43% above 100k.  For the Midwest and West it’s 48% and for the Northeast it’s 57%, or a clear majority.

What were things like 11 years ago in 2006?

200k- 6% nationally

150-199k- 6% nationally

100-149k- 18% nationally

75k-99k- 18% nationally (now under 16% in 2017)

50-75k was the single largest group broken out nationally in 2006. It was 23% nationally.  It’s shrunk a lot since then and is between 16 and 17% for 2017.

So in 2006 the true middle range was more like 75k-100k, and nearly 30% of married parents had sub-50k household income for the year.

The bottom rungs are rapidly dropping out of the married parents ladder.

Under 75k went from a slight majority of 52% of such households in 2006 to about 1/3 in 2017.

Or the other way around, in 2006 48% of married couples with kids made 75k per year or more.  In 2017, it’s almost 2/3 (64%).

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The high earning power couple is more myth than reality.

Most married women and especially most married mothers earn 0-30% of the money.  Married women are especially allergic to earning 100% of the income.  That number stays down in 2% territory, even as there are modest increases in women earning more than their husbands to about 1/4 of all married households.  Men earn 100% of the income nearly 20% of the time, nearly an order of magnitude more frequently.

Further, women outearning their husbands tend to earn 2/3 of the total household income while men outearning their wives tend to earn 75-80% of the total household income.  The six-figure woman is still more myth than reality.  At 200k, that’s dad making 150-200k, not both making 100k, as a rule.  This is a frequent view of the increased cost of marriage and parenthood, but it’s not accurate.  It’s not all power couples with big salaries, that’s not very common.

At the 200k+ level, only 1/6 of wives are making 60% or more of the income.  Twice as many wives are making 0% of the income.  At that level, a majority of wives are bringing 30% or less of total household income.

Even at the 50-75k range, 1/3 of wives earn 0-20% of the household income. Again, only 1/6 are making 60% or more of the income, which is pretty telling.

Related.

45% of SAHMs are in households earning 75k or more annually (2018 update).

And of that number, 2/3  are still in households earning 100k/yr or more.  Those numbers have been pretty stable over the last decade.  The percentage has gone up because there’s been a further decline in married parents while the total number of SAHMs was essentially unchanged from the earlier data.

Source: U.S. Census Bureau, Current Population Survey, 2018 Annual Social and Economic Supplement

Less than 25% of America’s businesses have paid employees.

“The majority of all business establishments in the United States are nonemployers, yet these nonemployer establishments average less than 4 percent of all sales and receipts nationally.”

“Most nonemployers are self-employed individuals operating a very small unincorporated business, which may or may not be the owner’s principal source of income.”

Here’s a handy chart of how the nonemployers are distributed by industry.

two-thirds-nations-businesses-do-not-have-paid-employees-figure-1

“The three states with the largest percentage of nonemployer establishments are Texas (79.5 percent), Georgia (79.4 percent) and Florida (79.0 percent). North Dakota is the only state where more than 30 percent of the establishments have paid employees.”

Interesting what the surrounding context is for self-employment these days.

Excerpts and chart from the census, here.

Fast facts about married parent income compared to all households (2017 numbers).

Things have changed a bit for 2017, mostly because a bunch of kids aged out and there’s way fewer married households with under-18 kids around.

Less than 9% of all households making under 50k/yr are married with under-18 kids.

About 20% of all households making 50-99k/yr are married with under-18 kids.

About 30% of all households making 100-149k/yr are married with under-18 kids.

About 35% of all households making 150k/yr or more are married with under-18 kids.

Lost percentage at the very bottom and the tippy top.

Source: 2017 ACS data on household income in the past 12 months.

What average salary should men and women be making to get married?

Apparently the answer is “20k more than the woman you plan to wife up”.

The gap between married women and married men’s average earnings is about 20k regardless of actual earnings until men are in their 30s, when married men’s average goes up into 40k more than the married women average through their 30s.

So guys who are married in their early 20s average 30k, but girls married in their early 20s average 10k.  Mid20s, 50k/30k, respectively.  Mid30s, 70k/50k.

Another way to look at it is that single men never boost their earnings out of the range they share with married women (for both single men and married women, average income peaks around 50k/yr through 30s and 40s).  Men who want to marry all start out higher earning, even among men who marry by 20.

So the single guys who remain at each stage of average income are the ones who just aren’t making the financial leaps upward.  Single women have it even worse, they don’t hit that 50k peak until their 50s, and are down in the 40k range through most of their working years, below married women and single men.

One interesting set of interpretations is that married women on average expect married men to be the ones to take income over benefits and generous leave while they expect to not have to choose and thus don’t.  And men who want to marry won’t if they aren’t pretty confident they can decisively earn 60% or more of the household income.

Data reference is from here, covering people who were born in the 1990s as the youngest end of the spectrum.