West Virginia

How much money do you need to make to be in the top 5% in West Virginia?

Published

4 days ago

June 24, 2024

How much money do you need to make to be in the top 5% in West Virginia?

(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.

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.

West Virginians will need to make $345,239 to be in the top 5%. Ohioans will need $436,922 and Kentuckians will need $411,897.

Check out what you need to make in your state:

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.

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!

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West Virginia

Oglebay Welcomes Newest Almost Heaven Swing

Published

50 mins ago

June 28, 2024

Press Room

Oglebay Welcomes Newest Almost Heaven Swing

Visitors encouraged to complete summer bucket list for a chance to win a free fall getaway

WHEELING, W.Va. (WTRF) — The West Virginia Department of Tourism, in partnership with Oglebay and Wheeling Park Commission, has announced a new Almost Heaven swing located in the state’s northern panhandle.

This swing is perched upon the scenic mountains of Oglebay, just off the Susan Wheeler Walking Trail on the western side of the arboretum.

“We are proud to participate in this West Virginia Tourism-led initiative, generously supported by a gift from Cindy and Chris Freeman,” said Oglebay Marketing Director Wendy Hodorowski. “The swing is located to showcase one of the park’s most amazing views, which will undoubtedly become a social media moment that generates both statewide and national attention for Oglebay Park.”

There are now more than 20 Almost Heaven photo-op swings available throughout the state, making it easy for travelers to check off this adventure on the West Virginia Summer Bucket List.

Visitors are encouraged to share their photos on social media using #AlmostHeaven.

“Visiting the newest Almost Heaven swing location in Wheeling is the perfect way to start checking off your West Virginia Summer Bucket List,”said West Virginia Department of Tourism Secretary Chelsea Ruby. “Our summer bucket list will make your travel planning easier and offers an opportunity to win a free autumn getaway.”

Oglebay encompasses more than 2,000 acres of year-round activities including a golf course, pool, zoo, walking trails, Bissonnette Gardens, horseback riding, on-site restaurants and more.

To view the 2024 West Virginia Summer Bucket List and begin checking off your adventures, visit wvtourism.com/summer-bucket-list. For a complete list of swing locations, click here.

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West Virginia

14-year-old West Virginia boy bitten by shark in North Carolina

Published

8 hours ago

June 28, 2024

Press Room

14-year-old West Virginia boy bitten by shark in North Carolina

Why and how often do shark attacks happen?

Why do shark attacks happen and how common are they?

06:41

PITTSBURGH (KDKA) — A 14-year-old boy from West Virginia was bitten by a shark as he was swimming at a beach in North Carolina.

Blayne Brown of Cabell County, West Virginia, was bit on the leg and ankle by a shark at Topsail Beach Access No. 4 in Pender County, North Carolina, on Sunday, The Herald-Dispatch reported. The boy was reportedly swimming in waist-deep water at around noon with a friend when he was bitten. Brown was about 30 or 40 feet away from the shore, the newspaper reported.

The newspaper reported that beachgoers helped provide medical attention to the teen before first responders arrived and took him to Naval Medical Center Camp Lejeune.

“I didn’t know what it was,” he told The Herald-Dispatch. “I just felt something that hurt a lot.”

He underwent surgery and a specialist was brought in because the injury was more extensive than doctors originally thought, the newspaper reported.

Brown returned home to West Virginia on Tuesday, though his mother said he may need another surgery.

The Associated Press reported that there were 69 unprovoked shark bites worldwide last year, and 10 of those were fatal, according to the International Shark Attack File. That was higher than the recent average of six deaths per year.

Michael Guise

Michael Guise is a web producer for CBS Pittsburgh who has worked for KDKA-TV since 2019.

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West Virginia

Video game executives open studio in West Virginia

Published

15 hours ago

June 27, 2024

Press Room

Video game executives open studio in West Virginia

LOGAN, WV (WOWK) — If you play “Fortnite,” chances are you’ve played on a map made in Logan County and one that has the same mountainous terrain.

PlayKigai is a fully remote global video game studio founded in Logan in January 2024.

Last month, the studio released a Fortnite map called “Dizzy Realistics,” where players can compete in a one-versus-one high-level training arena.

PlayKigai’s founders are industry veterans, including Aaron Chambers, a former employee at PlayStation and Twitch, and Simone Di Gravio, formerly of Epic Games.

Chambers is from Logan and graduated from West Virginia University. He says he moved back to Logan from California to be able to work on game development from the comfort of his home.

“A lot of people who want to be where they are, but don’t want to move to make something cool. That was the seed for something like PlayKigai. And we just ran with it,” Chambers said.

His co-founder and business partner, Simone Di Gravio, works out of Italy. He says it is his and Chambers’ dream that PlayKigai make their own video games from scratch.

“I really missed making a product that we can ship, and say I made this. I made it from start to end and I shipped it out,” said Di Gravio.

“I hope in a year or two, it won’t be just Fortnite maps,” Chambers said. “We’re starting with our strengths. In a year or two, we’ll be able to say we played lots of games made in Logan County, West Virginia.”

The studio’s next projects are also Fortnite maps, including “Backrooms Mansion” and “Ace Sniper.” The first is a horror/survival game where up to four players try to survive against waves of dark energy, and the second is a training map where players can test long-distance weapons.

By mid-to-late 2025, Chambers says they hope to be developing their own video games, in addition to their contract work.

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