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Fourth quarter wage figures relased: Want to earn the highest wage? Get an advanced degree

Post by C.R. Roberts / The News Tribune on Jan. 18, 2013 at 12:07 pm with No Comments »
January 18, 2013 4:01 pm

Here’s a chance to compare and contrast your wages against the wages earned nationwide.

The Bureau of Labor Statistics on Friday reported fourth quarter earnings – and the median weekly figure for 103.8 million full-time wage and
salary workers was $775, which was 1.4 percent higher than a year earlier.

• Women who usually worked full time had median weekly earnings of $692, or 79.1 percent of the $875 median for men.
• The female-to-male earnings ratio varied by race and ethnicity. White women earned 79.6 percent as much as their male counterparts, compared with black (87.4 percent), Hispanic (86.6 percent), and Asian women (71.6 percent).
• Among the major race and ethnicity groups, median weekly earnings for black men working at full-time jobs were $680 per week, or 76.0 percent of the median for white men ($895). The difference was less among women, as black women’s median earnings ($594) were 83.4 percent of those for white women ($712). Overall, median earnings of Hispanics who worked full time ($571) were lower than
those of blacks ($615), whites ($802), and Asians ($910).
• Usual weekly earnings of full-time workers varied by age and were highest for persons age 35 to 64. Weekly earnings were $985 for men age 35 to 44, little different from the medians for men age 45 to 54 ($997) and men age 55 to 64 ($1,035). Among women, those age 35 to 44 had median weekly earnings of $742, about the same as the weekly earnings for women age 45 to 54 ($747) and women age 55 to 64 ($759). Workers age 16 to 24 had the lowest median weekly earnings, at $459.
• Among the major occupational groups, persons employed full time in management, professional and related occupations had the highest median weekly earnings – $1,340 for men and $953 for women. Men and women employed in service jobs earned the least, $550 and $420, respectively.
• By educational attainment, full-time workers age 25 and over without a high school diploma had median weekly earnings of $478, compared with $647 for high school graduates (no college) and $1,168 for those holding at least a bachelor’s degree. Among college graduates with advanced degrees (professional or master’s degree and above), the highest earning 10 percent of male workers made $3,474 or more per week, compared with $2,343 or more for their female counterparts.
• Finally, part-time workers earned a median weekly paycheck of $235. Asian women earned the highest part-time weekly wage at $281.

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