Income (2024)

FAQs

How to respond when someone asks how much you earn? ›

Give a General Answer

If you don't want to disclose your income, you could respond with a general answer such as, “Not nearly as much as you'd think; enough to get by and to take a decent vacation once in a while, but not enough to have saved for our kids' college tuitions!

As it's extremely casual, you cannot rely on grammatical rules. A positive question is easier. “Do you have any money?” “No (I don't)” or “Yes, I do”.

On average, an individual needs $96,500 for sustainable comfort in a major U.S. city. This includes being able to pay off debt and invest for the future.

You can try to skirt the question with a broad answer, such as, “My salary expectations are in line with my experience and qualifications.” Or, “If this is the right job for me, I'm sure we can come to an agreement on salary.” This will show that you're willing to negotiate. Offer a range.

Income is the money you receive in exchange for your labor or products. Income may have different definitions depending on the context—for example, taxation, financial accounting, or economic analysis.

Gross Annual Earned Income

Gross annual income is the amount you earn each year before any taxes or other deductions are applied. This includes your salary or wages and any additional income sources such as bonuses, overtime pay, commissions, and interest or dividends from investments.

How do you respond when someone asks you for money? ›

If you have to say no when someone asks for money, try to be honest but also compassionate and respectful. Express empathy and understanding for their situation and assert your financial boundaries.

“Good income is relative to the average household income in America, which is $78,000 right now.” Real median household income in the U.S. was $78,250 in 2019 and fell to $74,580 in 2022, according to the Census Bureau. "You're not a bad person. You're not a horrible income earner.

When you write your salary requirements, you should include a range and not a specific sum. For instance, if you would like to make $35,000, then you should state that your salary requirements are between $30,000 and $40,000, rather than $35,000. This way, there is an opportunity to negotiate.

We've identified 10 cities where the typical salary for a 70K A Year job is above the national average. Topping the list is San Buenaventura, CA, with Santa Clara, CA and Washington, DC close behind in the second and third positions.

Consider giving a salary range, not a number

If a job post asks applicants to state their expected salary when applying for the position, then give a range — not a specific figure — you're comfortable with. Answers like “Negotiable” might work, but they can also make you look evasive.

“I'd like to know more about the salary range on offer for this role. I am currently earning $X. If my expectations are in keeping with your salary offerings, this will be a role I am interested in.”

Reveal income if your income is equal to the median income of your peer group (industry, level, experience) up to +15% over. If you are making any more, then it's probably best not to reveal and speak in generality. Any income below 115% of the median income of your peer group is fine.