As it turns out Washington D.C. is at this time the preferred area for the young adults that are earning more than $ 100,000 a year in their profession. In a new analysis 16 of the top 50 counties in the United States. with the greatest share of well-off young people was the Washington D.C. area.
In terms of percentages, there are counties in the Washington metro area that are earning more as a proportion of the population than other young adults in San Francisco and N.Y.C.. In the 1990s a lot of these well-off young adults were located in Texas and other midwestern states because of the growing economy and oil.
Now more young professionals are deciding to live in major metropolitan areas. Following Washington, D.C. are San Francisco, Manhattan, and Denver. Just about, 16 percent of households headed by 25-34 year olds have median earnings of $49,754. While slightly more than 13 percent earn $100k a year.
In general the national median income is $51,287. One thing to point out though, is that these young individuals may be earning a lot, but they also live in high-priced areas. Home values are really high along with other living expenses. What $100k buys in D.C. might amount to what $60,000 can buy somewhere else.
It’s important to note that in Washington, D.C. it’s not the government that’s paying these salaries. Washington D.C is where a large part of the brainy and able individuals come together and because of that the earnings are not that high. There’s a lot of competition. Although those that do earn high wages, are getting those from special interest groups, businesses, and think tanks that try and get government officials to their side.
Many of these individuals with high incomes are the ones that worked diligently in school, earned degrees, and graduated from leading universities throughout the country. So in essence, there isn’t a lot of a surprise there.
That’s still quite high though considering the fact that most individuals earn the most when they are between the ages of 45 and 54. But in the meantime these numbers seem quite high during these economic times. It seems like many people are strugglingto put food on the table, but we need people earning high wages in order to provide for welfare and social security.
Although what’s wrong with these people earning that much money? We live in a governmental system that supports Capitalism; therefore it’s every man on his own. If you work hard, become learned or invent something, then you will collect the benefits. What’s wrong with these individuals taking home that much and more? That’s the American Dream, and it’s still thriving today. It’s something that we can all attain if we are willing to put in the sweat and tears that it requires.
Diane Johnson earned a bachelor’s degree in Political Science from the University of Utah. She likes to write about the news, politics, college degrees, online education, and the college experience.
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