Please ensure Javascript is enabled for purposes of website accessibility

A Foolish Take: How Much Are Millennials Making Across the U.S.?

By Leo Sun - Updated Dec 18, 2017 at 12:04PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Millennials earn below-average wages, and there's a significant gender gap.

Millennial workers make an average of $21.80 per hour, $5.78 lower than the national average, according to a recent report from Paychex and IHS Markit.

On the bright side, millennial wages are rising 5.8% annually, compared to the national average growth rate of 3%. However, the study also revealed gender pay gaps among full-time millennial employees across the U.S.

Average hourly wage of Millennial employees in the US.

Data source: Paychex, IHS Markit. Chart by author.

An average female full-time millennial employee in the U.S. earns $20.44 per hour, compared to $23.03 for male employees. That $2.59 gap is narrower than the national gap of $6.64 across all age groups, but annual wage growth for male millennials, at 6.2%, is higher than the 5.3% rate for females. 

The only region where female wages are growing at a faster rate is the West, with 6.4% growth for females and 6.1% growth for males. It's also the region with the highest percentage of female millennial employees (41.5%).

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
319%
 
S&P 500 Returns
112%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 06/29/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.