4 ms·
I think so, at least for the "normal person" that follows a path along the line of school into a series of jobs with medium to large organizations. Most salari
by timwiseman 17y ago
I think so, at least for the "normal person" that follows a path along the line of school into a series of jobs with medium to large organizations.
Most salaries are based on seniority or else on skills and abilities. Although those are not the same thing by any stretch, they both normally are correlated with age, though of course there are numerous exceptions.
Seniority takes time, and only time, to build up. So while the older people do not necessarily have seniority, the young necessarily do not.
Skill, experience, and knowledge generally improve with age, especially amoung the ambitious that continue taking opportunities to improve those. Even more than that, it takes time to build up a portfolio/resume/references to prove to employers that you have those needed skills and experiences.
So as a general rule income will go up with age. But people start retiring in their sixties, for some people in their early sixties. Also, some others that do not fully retire will transition into a career with less stress and correspondingly less income. So, average income for the population as a whole is likely to start plummetting by that point.
So, for the population as a whole, peak income would come in the mid to late 50s with a rapid drop off afterwards. There are of course many outliers. Most athletes and startup founders for instance will pass their peak long before that, but they make up a small portion of the population as a whole.