The 15 Best-Paying Cities for Millennial Women
This story originally appeared on Self Financial.
Millennial women outpace men of their generation when it comes to earning college degrees, they have achieved record-high levels of labor force participation, and they continue to narrow the gender wage gap. According to the latest data from the U.S. Census Bureau, median earnings for full-time millennial women are $ 38,000 compared with $ 43,000 for millennial men.
Young women’s median income has risen dramatically over the past 70 years. According to figures from the Current Population Survey, the median income for full- and part-time women ages 25 to 34 was just over $ 12,000 in 1948 (in 2018 dollars). As of 2018, that figure had increased by 161%, to over $ 32,000. Data from the Bureau of Labor Statistics shows that over three-quarters of women ages 25 to 34 were in the labor force at the start of 2020.
Despite strides at the national level, millennial women’s earnings vary considerably across cities and states.
To find the best-paying metropolitan areas for millennial women, researchers at Self Financial, a company that helps consumers build credit, analyzed the latest data from the U.S. Census Bureau and the Bureau of Economic Analysis.
The researchers ranked metro areas according to the cost-of-living-adjusted median earnings for full-time millennial women. Researchers also calculated unadjusted median annual earnings for millennial women and men and the labor force participation rate among millennial women.
To improve relevance, only metropolitan areas with at least 100,000 people were included in the analysis. Additionally, metro areas were grouped into the following cohorts based on population size:
- Small metros: 100,000-349,999
- Midsize metros: 350,000-999,999
- Large metros: 1 million or more
Here are the best-paying metropolitan areas for millennial women.
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, Money Talks News reports