D.C. A Haven For Young And Well-Off Professionals
As it turns out Washington D.C. is currently the preferred area for the young adults that are making more than $ 100,000 a year in their profession. In a recent 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 percentage of the populace than other young adults in San Francisco and N.Y.C.. In the 1990s a lot of these prosperous young adults were located in Texas and other midwestern states because of the budding economy and oil.
Now more young professionals are deciding to settle in major metropolitan areas. After Washington, D.C. are San Francisco, Manhattan, and Denver. Roughly, 16 percent of households headed by 25-34 year olds have median earnings of $49,754. While slightly more than 13 percent earn $ $100,000 per year.
Overall 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 really high along with other living expenses. What $100,000 buys in D.C. might equal what $60,000 can buy somewhere else.
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 able individuals gather together and because of that the wages are not that high. There’s a lot of rivalry. Although those that do earn high wages, are getting those from special interest groups, businesses, and think tanks that try and recruit government officials to their side.
Many of these young professionals with high incomes are the ones that worked diligently in college, earned degrees, and graduated from top 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 get paid the most when they are between the ages of 45 and 54. But in the meantime these figures 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 capital? We live in a governmental system that supports Capitalism; as a result it’s every man on his own. If you work hard, become learned or design something, then you will collect 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, college degrees, online education, and the college experience.
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