Average salary in 2018
According to the Bureau of Labor Statistics, the average hourly wage for a computer specialist is $37.81. The median annual wage for these professionals was $87,280 in May 2016. The lowest 10 percent earned less than $49,800, and the highest 10 percent earned more than $131,180.
‘Average Salary In 2018
Indexed earnings used to compute initial benefits
When we compute a person’s retirement benefit, we use the national average wage indexing series to index that person’s earnings. Such indexation ensures that a worker’s future benefits reflect the general rise in the standard of living that occurred during his or her working lifetime.
When indexing an individual’s earnings for benefit computation purposes, we must first determine the year of first eligibility for benefits. For retirement, eligibility is at age 62. If a person reaches age 62 in 2022, for example, then 2022 is the person’s year of eligibility. We always index an individual’s earnings to the average wage level two years prior to the year of first eligibility. Thus, for a person retiring at age 62 in 2022, we would index the person’s earnings to the average wage index for 2020, or 55,628.60. We would multiply earnings in a year before 2020 by the ratio of 55,628.60 to the average wage index for that year; we would take earnings in 2020 or later at face value. (See two examples of indexed earnings.)
Indexed program amounts
We use the average wage indexing series to update several amounts that are important to the operation of Social Security’s Old-Age, Survivors, and Disability Insurance (OASDI) program.
OASDI contribution and benefit base (also known as the taxable maximum)
Retirement earnings test exempt amounts
Formulas for a primary insurance amount and maximum family benefits
Amount of earnings needed to earn a quarter of coverage (“credit”)
“Old-law” contribution and benefit base (as determined under the law as in effect before the 1977 amendments)
Coverage thresholds for both domestic employees and election workers
Substantial gainful activity amounts for disabled beneficiaries and earnings that trigger a trial work period
In addition, the Pension Benefit Guaranty Corporation uses the national average wage index to compute flat-rate premiums for PBGC-insured single-employer and multiemployer plans, as required by the Deficit Reduction Act of 2005.
Determination of the National Average Wage Index for 2020
To determine the national average wage index for calendar year 2020, we multiplied the 2019 national average wage index of 54,099.99 by the percentage change in average wages from 2019 to 2020, as measured by annual wage data we tabulated. The wage data are based on wages subject to Federal income taxes and contributions to deferred compensation plans.
The average amounts of wages calculated directly from our data were $51,916.27 and $53,383.18 for 2019 and 2020, respectively. To determine the national average wage index for 2020 at a level that is consistent with the national average wage indexing series for prior years, we multiply the 2019 national average wage index of 54,099.99 by the percentage change in average wages from 2019 to 2020 (based on our tabulated wage data). In other words, the national average wage index for 2020 is 54,099.99 times 53,383.18 divided by 51,916.27, which equals 55,628.60.
The complete average wage indexing series is shown below.
National average wage indexing series, 1951-2020
Year Index
1951 2,799.16
1952 2,973.32
1953 3,139.44
1954 3,155.64
1955 3,301.44
1956 3,532.36
1957 3,641.72
1958 3,673.80
1959 3,855.80
1960 4,007.12
1961 4,086.76
1962 4,291.40
1963 4,396.64
1964 4,576.32
1965 4,658.72
1966 4,938.36
1967 5,213.44
1968 5,571.76
1969 5,893.76
1970 6,186.24
1971 6,497.08
1972 7,133.80
1973 7,580.16
1974 8,030.76
1975 8,630.92
Year Index
1976 9,226.48
1977 9,779.44
1978 10,556.03
1979 11,479.46
1980 12,513.46
1981 13,773.10
1982 14,531.34
1983 15,239.24
1984 16,135.07
1985 16,822.51
1986 17,321.82
1987 18,426.51
1988 19,334.04
1989 20,099.55
1990 21,027.98
1991 21,811.60
1992 22,935.42
1993 23,132.67
1994 23,753.53
1995 24,705.66
1996 25,913.90
1997 27,426.00
1998 28,861.44
1999 30,469.84
2000 32,154.82
Year Index
2001 32,921.92
2002 33,252.09
2003 34,064.95
2004 35,648.55
2005 36,952.94
2006 38,651.41
2007 40,405.48
2008 41,334.97
2009 40,711.61
2010 41,673.83
2011 42,979.61
2012 44,321.67
2013 44,888.16
2014 46,481.52
2015 48,098.63
2016 48,642.15
2017 50,321.89
2018 52,145.80
2019 54,099.99
2020 55,628.60
