What is the national average salary?
Knowing the national average salary can determine how your wages compare with the rest of the country. How this number rises or falls can also help judge the state of the economy.IndexThe Social Security Administration determines a national average wage index to determine a person’s retirement benefits. The latest such figure as of March 2010 is the wage index for 2008, which is $41,334.97.CalculationThe SSA determined this number by increasing the 2007 index based on the increase of average wages that were taxed by the IRS and for which retirement contributions were made.CensusOther government entities also calculate a national average salary, which may differ because they are based on different criteria. For example, the U.S. Census Bureau shows a median household income of $52,029 for 2008.IncreasesMost compilations show an increase in salary from year to year. For example, the SSA shows an average of $2,799 in 1951 rising to $8,630.92 in 1975 to $32,154.82 in 2000. In no year did t
