Yes, $60,000 is a good salary in New Jersey.
The median household income for the state of New Jersey was $71,358 in 2017. That was an increase of 1.8% from the previous year. It also put it at number 16 out of all states and Washington, D.C., with only Wyoming having a lower state income than New Jersey’s.
The median household income for the United States as a whole was $55,322 in 2017, which means that New Jersey is above average when it comes to household income. And while $60,000 may seem like a lot of money to some people, it’s still lower than the national median by almost $10K!
If you’re thinking about moving to New Jersey or just want to know more about what your salary might look like there, this infographic from WalletHub explains more about how much money you should expect to earn depending on where you live:
Is 60k A Good Salary In New Jersey
Living Wage Calculation for New Jersey
The living wage shown is the hourly rate that an individual in a household must earn to support his or herself and their family. The assumption is the sole provider is working full-time (2080 hours per year). The tool provides information for individuals, and households with one or two working adults and zero to three children. In the case of households with two working adults, all values are per working adult, single or in a family unless otherwise noted.
The state minimum wage is the same for all individuals, regardless of how many dependents they may have. Data are updated annually, in the first quarter of the new year. State minimum wages are determined based on the posted value of the minimum wage as of January one of the coming year (National Conference of State Legislatures, 2019). The poverty rate reflects a person’s gross annual income. We have converted it to an hourly wage for the sake of comparison.
For further detail, please reference the technical documentation here.
| 1 ADULT | 2 ADULTS(1 WORKING) | 2 ADULTS(BOTH WORKING) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 Children | 1 Child | 2 Children | 3 Children | 0 Children | 1 Child | 2 Children | 3 Children | 0 Children | 1 Child | 2 Children | 3 Children | |
| Living Wage | $20.57 | $41.90 | $53.09 | $70.57 | $30.71 | $37.48 | $43.44 | $47.68 | $15.36 | $22.68 | $29.60 | $35.66 |
| Poverty Wage | $6.19 | $8.38 | $10.56 | $12.74 | $8.38 | $10.56 | $12.74 | $14.92 | $4.19 | $5.28 | $6.37 | $7.46 |
| Minimum Wage | $13.00 | $13.00 | $13.00 | $13.00 | $13.00 | $13.00 | $13.00 | $13.00 | $13.00 | $13.00 | $13.00 | $13.00 |
Typical Expenses
These figures show the individual expenses that went into the living wage estimate. Their values vary by family size, composition, and the current location.
| 1 ADULT | 2 ADULTS(1 WORKING) | 2 ADULTS(BOTH WORKING) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 Children | 1 Child | 2 Children | 3 Children | 0 Children | 1 Child | 2 Children | 3 Children | 0 Children | 1 Child | 2 Children | 3 Children | |
| Food | $3,891 | $5,734 | $8,613 | $11,425 | $7,133 | $8,878 | $11,446 | $13,934 | $7,133 | $8,878 | $11,446 | $13,934 |
| Child Care | $0 | $13,065 | $26,130 | $39,195 | $0 | $0 | $0 | $0 | $0 | $13,065 | $26,130 | $39,195 |
| Medical | $2,916 | $8,896 | $8,683 | $8,992 | $6,443 | $8,683 | $8,992 | $8,781 | $6,443 | $8,683 | $8,992 | $8,781 |
| Housing | $14,788 | $21,084 | $21,084 | $26,888 | $17,196 | $21,084 | $21,084 | $26,888 | $17,196 | $21,084 | $21,084 | $26,888 |
| Transportation | $4,244 | $7,531 | $9,791 | $11,565 | $7,531 | $9,791 | $11,565 | $12,560 | $7,531 | $9,791 | $11,565 | $12,560 |
| Civic | $3,207 | $5,149 | $6,361 | $8,307 | $5,149 | $6,361 | $8,307 | $6,603 | $5,149 | $6,361 | $8,307 | $6,603 |
| Other | $5,275 | $7,867 | $7,197 | $10,471 | $7,867 | $7,197 | $10,471 | $10,128 | $7,867 | $7,197 | $10,471 | $10,128 |
| Required annual income after taxes | $34,445 | $69,449 | $87,983 | $116,966 | $51,443 | $62,117 | $71,988 | $79,017 | $51,443 | $75,182 | $98,118 | $118,212 |
| Annual taxes | $8,330 | $17,711 | $22,437 | $29,829 | $12,442 | $15,841 | $18,358 | $20,151 | $12,442 | $19,173 | $25,022 | $30,147 |
| Required annual income before taxes | $42,775 | $87,160 | $110,421 | $146,795 | $63,885 | $77,958 | $90,346 | $99,168 | $63,885 | $94,355 | $123,141 | $148,359 |
Typical Annual Salaries
These are the typical annual salaries for various professions in this location.
| Occupational Area | Typical Annual Salary |
|---|---|
| Management | $155,364 |
| Business & Financial Operations | $90,629 |
| Computer & Mathematical | $107,257 |
| Architecture & Engineering | $97,830 |
| Life, Physical, & Social Science | $89,302 |
| Community & Social Service | $56,892 |
| Legal | $107,599 |
| Education, Training, & Library | $64,500 |
| Arts, Design, Entertainment, Sports, & Media | $66,361 |
| Healthcare Practitioners & Technical | $87,761 |
| Healthcare Support | $34,229 |
| Protective Service | $52,954 |
| Food Preparation & Serving Related | $27,028 |
| Building & Grounds Cleaning & Maintenance | $34,101 |
| Personal Care & Service | $31,116 |
| Sales & Related | $37,225 |
| Office & Administrative Support | $45,272 |
| Farming, Fishing, & Forestry | $31,982 |
| Construction & Extraction | $64,029 |
| Installation, Maintenance, & Repair | $60,648 |
| Production | $40,414 |
| Transportation & Material Moving | $36,819 |
