The average salary in 1950 was $2,400 per year. The average annual wage today is $44,150, increased by 2977%. This gives us a rate of 4.8% per year. If you made $50,000 last year, you will make [(1 + 0.048)^12 – 1] $43,913 this year. It isn’t easy to save 50k but with disciplined savings and a better budget that can be done.
I remember hearing somewhere that the average salary back in 1950 was 4x more than what it is today. But, I think that’s kind of unbelievable. To be honest, I’m just not sure if this is actually true or not. We might have to do a bit of research.
Average salary in 1950
While the salary has increased, the purchasing power of a salary in 1950 is about the same as that of a salary today. This can be attributed to the increase of expenses like housing, healthcare, and education.
The average salary of an advertising copywriter was $3,800 in 1960. Just over $30,000 in 2015! That’s a lot of money… makes me want to cry when I think about all the hours I spent working on content for my site back then.
Both have their advantages. Full-time employees have the benefit of fixed income, while freelancers have the benefit of working wherever they want with whomever they want. Either way, digital design is on the rise and is one of the most in-demand forms of employment today, especially in comparison to the past. If you pursue this field, you’ll likely enjoy a lengthy career with plenty of perks to accompany it.
