(NEXSTAR) – The disparity between the income that an average U.S. resident brings in yearly compared to those sitting at the top of earners in each state has always been a major topic of discussion.
In fact, WalletHub states that “the highest-earning 10% of individuals in the United States earn over 12 times more than those in the lowest-earning 10%, based on the latest Census data.”
And while looking up what the “average salary” is across the country, ($74,600, according to the latest data from the Federal Reserve), appears to give a solid idea of how far off most Americans are from the 5% club, a closer look at the high-end salaries reveals that the disparity is even more stark.
WalletHub broke down the income of all 50 U.S. states and Washington D.C into three different groups: the average annual income of the top 5%, the average for the bottom 20%, and the median for all of each state’s residents.
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Landing at No. 1 was New York where the top 5% makes about $553,000 a year. That’s almost $35,000 more than the next two highest states and nearly $100,000 more than the 10th-ranked state.
While the top 5% is thriving in the Empire State, its bottom 20% is falling well short, ranking 44th in salary with $13,301.
Right behind New York is Connecticut and Virginia where the average is about $518,000 apiece. Followed by New Jersey and Illinois which are both hovering around $505,000.
The state with the lowest top 5% threshold is Alaska, where earning roughly $321,000 will get you into the club. Hawaii and Vermont aren’t far behind where the top 5% makes about $334,000.
Check out what you need to make in your state:
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Rank
State
Average Annual Income of Top 5%
Median Annual Income
Average Annual Income of Bottom 20%
1
New York
$553,436
$91,366
$13,301
2
Connecticut
$518,757
$114,156
$14,576
3
Virginia
$518,296
$89,393
$18,694
4
New Jersey
$505,621
$117,847
$16,445
5
Illinois
$504,800
$78,304
$16,192
6
Georgia
$487,870
$66,612
$16,472
7
Texas
$481,483
$70,513
$16,802
8
Washington
$474,067
$103,748
$18,223
9
Florida
$470,308
$68,818
$15,375
10
Massachusetts
$466,208
$127,760
$13,689
11
Minnesota
$464,981
$86,364
$19,797
12
Colorado
$456,603
$97,301
$18,451
13
California
$454,829
$123,988
$13,949
14
Tennessee
$453,539
$59,077
$15,679
15
District of Columbia
$450,892
$162,265
$9,011
16
North Carolina
$450,592
$63,025
$15,836
17
Utah
$448,195
$89,786
$22,491
18
Michigan
$446,114
$62,446
$17,019
19
Missouri
$446,069
$59,715
$16,821
20
Pennsylvania
$445,261
$74,711
$15,801
21
Ohio
$436,922
$61,904
$16,188
22
Maryland
$427,135
$124,693
$16,647
23
Arizona
$424,913
$74,375
$16,604
24
Kansas
$423,517
$68,489
$17,176
25
Nebraska
$416,325
$72,384
$17,380
26
Arkansas
$416,224
$51,032
$14,069
27
South Carolina
$412,771
$62,909
$13,996
28
Kentucky
$411,897
$55,629
$13,800
29
Oklahoma
$405,113
$57,215
$15,205
30
Idaho
$403,737
$70,041
$18,372
31
Delaware
$402,989
$87,173
$16,930
32
Wisconsin
$402,256
$72,602
$17,973
33
Nevada
$401,062
$80,366
$14,472
34
New Hampshire
$400,343
$110,205
$18,075
35
Indiana
$399,270
$64,170
$16,670
36
Alabama
$398,584
$55,480
$13,242
37
Montana
$395,720
$68,937
$15,337
38
Louisiana
$395,155
$56,282
$11,504
39
Iowa
$395,093
$68,974
$17,621
40
South Dakota
$393,809
$69,266
$17,252
41
North Dakota
$387,548
$79,874
$15,661
42
Wyoming
$387,280
$76,307
$16,199
43
Oregon
$377,399
$91,100
$14,720
44
Mississippi
$377,040
$46,880
$12,168
45
Rhode Island
$353,721
$104,252
$12,668
46
New Mexico
$351,972
$58,911
$11,944
47
West Virginia
$345,239
$52,719
$12,477
48
Maine
$338,866
$79,800
$13,749
49
Vermont
$334,470
$89,695
$14,477
50
Hawaii
$334,369
$141,832
$14,014
51
Alaska
$321,634
$113,934
$15,646
(Credit: WalletHub)
As for what state’s residents make the most money on average, Washington D.C. finished with the highest median income of $162,265. Unfortunately, D.C. also finished with the lowest salary for the average annual income of the bottom 20%, with $9,011.
Other states that had a high median income were Hawaii ($141,832), Massachusetts ($127,760), Maryland ($124,693), and California ($123,988).
These states with a smaller gap between the average earner and the top 5% make it easier to make the jump, but it’s still difficult.
According to GoBankingRates, it will take a variety of factors to make that jump. First, you need a steady increase in income. This could mean you are making better financial decisions, investing wisely, or perhaps experiencing career advancements.
Another factor is maybe having a solid investment strategy, look to see that you are getting positive returns on your investment and that you have a well-diversified portfolio.
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Finally, prioritize your long-term financial stability. Look to prioritize saving over short-term pleasures.
And if you’re looking to go even higher than the top 5%, Forbes found that to be one of the top 1% of earners in the U.S., you need to bring in an annual salary of at least $597,815, so start saving up!
LUBBOCK — Darrion Williams scored 19 points, Elijah Hawkins and JT Toppin posted double-doubles, and Texas Tech breezed to a 98-64 victory over Arkansas-Pine Bluff on Monday night.
Williams made 8 of 11 shots with two 3-pointers, adding four rebounds and four assists for the Red Raiders (4-0). Hawkins finished with 10 points and 11 assists, while Toppin pitched in with 14 points and 11 rebounds.
Kevin Overton came off the bench to hit three 3-pointers and score 17. Chance McMillian pitched in with 11 points and six assists. Reserve Devan Cambridge scored 10.
Christian Moore scored 21 points to lead the Golden Lions (1-5), who have lost all five of their games on the road. Moore hit 9 of 15 shots with two 3-pointers and handed out five assists. Dante Sawyer scored 13 off the bench on 5-for-10 shooting.
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Williams had 14 points by halftime and Toppin scored eight with seven rebounds to guide Texas Tech to a 47-28 advantage. Sawyer had nine first-half points to lead UAPB. The Red Raiders shot 52.9% from the floor in the first 20 minutes with six 3-pointers. The Golden Lions shot 52.2% overall but they took 20 fewer shots and made just 1 of 7 from beyond the arc.
Kerwin Walton hit a 3-pointer with 7:15 left to play to give the Red Raiders their largest lead at 88-46.
Texas Tech will play Saint Joseph’s in the UKG Legends Classic on Thursday.
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Texas education officials are expected to hold a vote on Monday on the use of Bible readings in the public school curriculum for kindergarten through fifth grade English and language arts classes.
The board listened to hours of testimonies from those for and against “Bluebonnet learning”, a new curriculum that will affect millions of the state’s elementary public school students.
Those in favor of a Bible-infused curriculum argue that the holy book contextualizes material about famous artworks or texts like Leonardo da Vinci’s mural painting The Last Supper and Dr Martin Luther King’s Letter from Birmingham Jail.
Specifically, as the New York Times notes, The Last Supper would be taught to fifth-grade students through an account of the final meal shared by Jesus and his 12 disciples. The lesson would also involve several verses from the Gospel of Matthew.
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In the instance of King’s Letter from Birmingham Jail, King uses biblical characters in his letter to clergymen around the south. Advocates for this curriculum argue that students would need biblical context to comprehend the letter.
The Texas Freedom Network, a watchdog organization which advocates for religious freedom, individual liberties and public education, opposes the curriculum on the grounds that it is biased towards one religion, Christianity.
Carisa Lopez, deputy director of Texas Freedom Network, spoke out against the curriculum during a hearing in September, saying: “Teaching about the influence of religion in history and culture is an important part of a well-rounded education, but you can’t turn public schools into Sunday schools. This is fundamentally a question of respect for religious freedom. Public schools can’t favor one particular religion and promote religious beliefs many students and their families simply don’t share.”
The Texas chapter of the American Federation of Teachers, the second largest teacher’s union in the country, said in a statement ahead of the vote that it believed this curriculum “violate[s] the separation of church and state and the academic freedom of our classroom” and “the sanctity of the teaching profession”.
David R Brockman, a Christian theologian and religious studies scholar who reviewed the curriculum, told the Times that while he has “long been an advocate of teaching about religion in public schools”, he believes lessons should be factual, balanced and not promote one religion over another. He emphasized to the outlet that the Texas curriculum did not adhere to those tenets.
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While the curriculum would not be mandatory if approved by the board, schools would be financially incentivized to adopt the new religious-leaning curriculum, receiving roughly $60 per student from the state.
The US constitution prevents public schools from promoting or advancing any particular religion, but states like Texas are part of a growing trend of conservative Christian ideology in public school classrooms.
Oklahoma’s state superintendent, Ryan Walters, announced earlier this year that all schools were required to teach the Bible and the Ten Commandments. Around the same time, Louisiana became the first state to require the Ten Commandments to be displayed in every public school classroom.
Texas was also notably the first state to allow public schools to hire religious chaplains as school counselors.
This movement will likely see support from the upcoming administration of the president-elect, Donald Trump, who in addition to calling for the shuttering of the federal department of education, has vowed to bring prayer back in schools.
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If approved, districts could begin using the curriculum by August 2025.
After Marcel Reed was officially named the Texas A&M Aggies’ starting quarterback for the remainder of the season following a second-half meltdown against South Carolina, the freshman got another chance at a full game with Conner Weigman backing him up.
The result? A blowout victory at home over New Mexico State.
“I think we came out strong,” Reed said following the contest. “We executed where we were supposed to.”
On the evening, Reed finished with 268 yards, a pair of touchdowns, and an interception. Both Weigman and Aggies third-stringer Miles O’Neil got playing time in the second half as Texas A&M used the game to fine-tune some of its game plan.
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Ironically, a 35-point margin of victory wasn’t enough to cover the spread, and all things considered, wasn’t as high as it could have been. Reed was the first to acknowledge that.
“I got sloppy in the second quarter,” he said. “I should have thrown that pick out of bounds, but you have to live with it.”
Between finding Moose Muhammad III and handling business enough to keep New Mexico State at bay, Reed played to his strengths — including a few he’s worked on over the past few weeks.
“Being able to read the defense,” Reed said of what he’s improved on. “Being a vocal leader and being able to command the offense.”
As the Aggies look ahead to their two-week conference stretch, Reed will play a big role in their success and will have to continue to step up in order to keep them tied atop the SEC.
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What was on display on Saturday, however, wasn’t anything that worried him, or Mike Elko.
That was perhaps the biggest positive.
“No,” Elko said when asked if he was concerned at the win.” You go into this game wanting to handle business. You do what you have to do.”
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