Entry Level Salary in Philadelphia, PA
| Annual Salary | Weekly Pay | |
|---|---|---|
| Top Earners | $45,738 | $879 |
| 75th Percentile | $39,707 | $763 |
| Average | $31,857 | $612 |
| 25th Percentile | $25,131 | $483 |
What is a comfortable salary in Philadelphia?
If you follow the 50-30-20 budgeting rule to the T, listen closely: You need to earn just under $60,000 a year to live comfortably in Philadelphia. That’s according to a new analysis by Go Banking Rate, which found that you need to make exactly $59,384 to be able to live in Philadelphia.
How much does the average person in Philadelphia make?
A person working in Philadelphia typically earns around 112,000 USD per year. Salaries range from 28,200 USD (lowest average) to 498,000 USD (highest average, actual maximum salary is higher). This is the average yearly salary including housing, transport, and other benefits.
What is a living wage in Philadelphia 2022?
$15.00
$13.25 on July 1, 2019. $13.75 on July 1, 2020. $14.25 on July 1, 2021. $15.00 on July 1, 2022.
What is a good salary for mid 20s?
Average Salary for Ages 20-24
The median salary of 20- to 24-year-olds is $667 per week, which translates to $34,684 per year. Many Americans start out their careers in their 20s and don’t earn as much as they will once they reach their 30s.
How much does it cost to live in Philly?
Philadelphia cost of living is 101.2
| COST OF LIVING | Philadelphia | Pennsylvania |
|---|---|---|
| Grocery | 102.5 | 100.3 |
| Health | 98.4 | 97 |
| Housing | 66.3 | 75.1 |
| Median Home Cost | $221,400 | $234,800 |
How expensive is it to live in Philly?
Philadelphia’s housing expenses are 11% higher than the national average and the utility prices are 10% higher than the national average. Transportation expenses like bus fares and gas prices are 13% higher than the national average. Philadelphia has grocery prices that are 17% higher than the national average.
Is Philly cheap to live?
As you might expect for a major metropolitan area, Philadelphia’s cost of living is higher than the national average – but by and large, it’s incredibly affordable when compared to other major cities. By comparison to many similar-sized cities, in fact, Philly is one of the more affordable options.
What is the minimum salary to be happy in PA?
$107,625
Minimum salary needed to be happy: $107,625
Pennsylvania’s economy was hit harder than many others, with an unemployment rate, though lower than its peak of 13.1%, is still higher than others at 4.9%.
Is it cheaper to live in Philadelphia or New Jersey?
The cost of living in Jersey City, NJ is 58.8% higher than in Philadelphia, PA. You would have to earn a salary of $95,257 to maintain your current standard of living. Employers in Jersey City, NJ typically pay 12.3% more than employeers in Philadelphia, PA.
Which state has the highest minimum wage?
Washington D.C.
Washington D.C. currently has the highest minimum wage in the United States at $15.00, followed by California with $14.00. Alabama, Louisiana, Mississippi, South Carolina, and Tennessee have not adopted a state minimum wage and, therefore, adopted the $7.25 federal minimum wage.
Who has the highest minimum wage?
The 10 States with the Highest Minimum Wage Rates in 2022
- Maine $12.75 (tie)
- Arizona $12.80.
- New Jersey $13 (tie)
- Connecticut $13 (tie)
- New York $13.20.
- 8. California $14.
- Massachusetts $14.25.
- Washington $14.49. Washington has been a leading state when it comes to high minimum wages for quite some time.
What state has lowest minimum wage?
Mississippi. No state minimum wage law. Employers subject to the Fair Labor Standards Act must pay the current Federal minimum wage of $7.25 per hour.
Where should I be financially at 25?
By age 25, you should have saved at least 0.5X your annual expenses. The more the better. In other words, if you spend $50,000 a year, you should have about $25,000 in savings. If you spend $100,000 a year, you should have at least $50,000 in savings.
How much should a 25 year old make?
Age 65: $54,000.00
| Age | Median Salary |
|---|---|
| 24 | $31,000.00 |
| 25 | $39,000.00 |
| 26 | $40,000.00 |
| 27 | $42,300.00 |
What is a good salary at 27?
From ages 25-34, the median wage is $60,000 and will increase to a median wage of $90,000 by ages 45-59. Compare that with a major in the health field, which has a median wage of $53,000 at ages 25-34 and grows to a median wage of $72,000 by ages 45-59.
Is it cheaper to live in NY or PA?
New York is 12.3% more expensive than Pennsylvania.
Is Philly cheaper than New York?
New York is 85.0% more expensive than Philadelphia. New York housing costs are 343.9% more expensive than Philadelphia housing costs. Health related expenses are 14.4% more in New York.
Is rent expensive in Philadelphia?
Approximately 45% of Philadelphia housing is occupied by renters. In January 2021, the average rent for an apartment in Philadelphia was $1,666 (compared to the national average of $1,465). This monthly average is 51.26% lower than rental prices in Manhattan, which is just over an hour away from Philly by train.
Why is Philly so affordable?
According to Realtor.com®, Philadelphia is the third trendiest and most affordable city in the country, thanks to a plethora of social activities, such as breweries, yoga studios and independent cinemas, as well as affordable homes, making it an opportunity for first-time buyers to participate in.
What is the best area to live in Philadelphia?
26 Best Neighborhoods in Philadelphia, PA 2022
- Old City. Population: 16,247.
- University City. Population: 21,228.
- Chestnut Hill. Population: 12,304.
- Bella Vista. Population: 10,177.
- Center City. Population: 7,835.
- Queen Village. Population: 9,143.
- Society Hill. Population: 8,376.
- Fairmount. Population: 13,858.