As it turns out Washington D.C. is at this time the preferred area for the young adults that are making more than $100k per year in their career. In a current analysis 16 of the top 50 counties in the United States. with the highest share of wealthy young people was the Washington D.C. metropolitan area.
In terms of percentages, there are counties in the Washington metro area that are making more as a proportion of the population than other young adults in San Francisco and New York. In the 1990s a lot of these well-off young adults were positioned in Texas and other midwestern states because of the budding economy and oil.
Now more or yuppies for lack of a better term are deciding to live in major metropolitan areas. Behind Washington, D.C. are San Francisco, Manhattan, and Denver. Just about, 16 percent of households headed by 25-34 year olds have a median income of $49,754. While a little more than 13 percent earn $ $100,000 a year.
On the whole 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 dwell in the most expensive areas. Home values are extremely high along with other living expenses. What $100k buys in D.C. might amount to what $60,000 can buy in another place.
It’s important to note that in Washington, D.C. it’s not the government that’s responsible for these salaries. Washington D.C is where a large fraction of the brilliant and capable individuals gather together and because of that the earnings are not that high. There’s a lot of rivalry. Although those that do earn high salaries, are getting those from special interest groups, businesses, and think tanks that try and recruit government officials on their side.
Many of these individuals with high incomes are the ones that worked diligently in school, earned degrees, and graduated from the best universities all over the country. So in essence, there isn’t a great deal 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 statistics seem quite high during these economic times. It seems like many people are under pressureto put food on the table, but we need people earning large 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; thus it’s every man on his own. If you work hard, become educated or design something, then you will reap the benefits. What’s wrong with these individuals earning that much and more? That’s the American Dream, and it’s still alive today. It’s something that we can all realize if we are willing to put in the sweat and tears required.
Diane Johnson earned a bachelor’s degree in Political Science from the University of Utah. She likes to write about the news, politics, , and the college experience.