How much money does a person working in Colorado make?
Average Yearly Salary
( 8,410 USD monthly)
A person working in Colorado typically earns around 101,000 USD per year. Salaries range from 25,500 USD (lowest average) to 450,000 USD (highest average, actual maximum salary is higher).
This is the average yearly salary including housing, transport, and other benefits. Salaries vary drastically between different careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.
Distribution of Salaries in Colorado
The median, the maximum, the minimum, and the range
Salaries in Colorado range from 25,500 USD per year (minimum salary) to 450,000 USD per year (maximum average salary, actual maximum is higher).
The median salary is 109,000 USD per year, which means that half (50%) of the population are earning less than 109,000 USD while the other half are earning more than 109,000 USD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of the population are earning less than 60,500 USD while 75% of them are earning more than 60,500 USD. Also from the diagram, 75% of the population are earning less than 302,000 USD while 25% are earning more than 302,000 USD.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
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Salary Comparison by Years of Experience
How does a person's salary progress over time?
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.
Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.
Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.
Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.
As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.
Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.
“ On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark. ”
* Based on the average change in salary over time. Salary variations differ from person to person.
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Salary Comparison By Education
How does the education level affect your salary?
It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.
Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.
Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.
Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.
Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.
Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.
Is a Master's degree or an MBA worth it? Should you pursue higher education?
A Master's degree program or any post-graduate program in United States costs anywhere from 39,500 US Dollar(s) to 118,000 US Dollar(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Salary Comparison By Gender
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in United States earn 6% more than their female counterparts on avergae across all sectors.
Percentage increase and decrease are relative to the previous value
Average Annual Salary Increment Percentage in United States
How much are annual salary increments in United States? How often do employees get salary raises?
Employees in United States are likely to observe a salary increase of approximately 8% every 16 months.
The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
How to calculate the salary increment percentage?
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
“The average salary increase in one year (12 months) in United States is 6%.”
Annual Increment Rate By Industry 2022
Listed above are the average annual increase rates for each industry in United States for the year 2022. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
Average Salary Increase Rate by Experience Level
3% - 5%
6% - 9%
10% - 15%
15% - 20%
The difference in increment rates is somehow justified because employers put more effort to retain more experienced staff since they are harder to acquire than less experienced ones.
Worldwide Salary Raises: All Countries and All Jobs
Bonus and Incentive Rates in United States
How much and how often are bonuses being awarded?
47% of surveyed staff in United States reported that they haven't received any bonuses or incentives in the previous year while 53% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.
Types of Bonuses Considered
Individual Performance-Based Bonuses
The most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance Bonuses
Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Granted upon achieving an important goal or milestone.
Holiday / End of Year Bonuses
These types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
Bonus Rates Comparison by Career Field
|Marketing / Advertising|
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs
|Revenue Generators||Supporting Cast|
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.
Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
“Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.”
Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Salaries for popular jobs
|Job Title||Average Salary|
|Accounting and Finance|
|Accounting Assistant||51,700 USD|
|Accounting Manager||150,000 USD|
|Chartered Accountant||86,200 USD|
|Corporate Treasurer||137,000 USD|
|Financial Analyst||123,000 USD|
|Financial Manager||185,000 USD|
|Internal Auditor||92,700 USD|
Administration / Reception / Secretarial
|Administrative Assistant||50,700 USD|
|Office Manager||87,100 USD|
Advertising / Grapic Design / Events
|Art Director||94,400 USD|
|Creative Director||94,800 USD|
|Graphic Designer||64,000 USD|
Airlines / Aviation / Aerospace / Defense
|Aerospace Engineer||127,000 USD|
|Air Traffic Controller||106,000 USD|
|Flight Attendant||64,200 USD|
|CAD Drafter||51,400 USD|
|Service Advisor||70,400 USD|
|Bank Branch Manager||182,000 USD|
|Business Analyst||120,000 USD|
|Business Development Manager||151,000 USD|
|Project Manager||113,000 USD|
Care Giving and Child Care
|Nursery Teacher||36,500 USD|
Construction / Building / Installation
|Civil Engineer||88,000 USD|
|Construction Project Manager||155,000 USD|
|Health and Safety Officer||45,400 USD|
Customer Service and Call Center
|Call Center Representative||37,200 USD|
|Customer Service Manager||127,000 USD|
|Customer Service Representative||38,000 USD|
|Electrical Engineer||95,300 USD|
|Mechanical Engineer||94,600 USD|
Executive and Management
|Chief Executive Officer||220,000 USD|
|Chief Financial Officer||199,000 USD|
|General Manager||165,000 USD|
Food / Hospitality / Tourism / Catering
|Executive Chef||68,700 USD|
|Hotel Manager||178,000 USD|
|Travel Agent||61,800 USD|
|Waiter / Waitress||30,000 USD|
Health and Medical
|Laboratory Technician||75,100 USD|
|Human Resources Manager||150,000 USD|
|Human Resources Officer||59,300 USD|
|Computer Technician||73,000 USD|
|Database Administrator||95,300 USD|
|Developer / Programmer||98,000 USD|
|Information Technology Manager||166,000 USD|
|Network Engineer||83,600 USD|
Law Enforcement / Security / Fire
|Police Officer||61,000 USD|
|Legal Assistant||49,200 USD|
Media / Broadcasting / Arts / Entertainment
Pharmaceutical and Biotechnology
|Biomedical Engineer||79,400 USD|
Sales Retail and Wholesale
|Sales Manager||165,000 USD|
|Sales Representative||60,500 USD|
Teaching / Education
|Elementary School Teacher||68,300 USD|
|Secondary School Teacher||83,200 USD|
Average Hourly Wage in Colorado
49 USD per hour
The average hourly wage (pay per hour) in Colorado is 49 USD. This means that the average person in Colorado earns approximately 49 USD for every worked hour.
Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )
The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
Colorado VS United States
We compared salaries in Colorado and United States and we found that Colorado salaries are 6% more than those of United States.
Salary Comparison By City
Government vs Private Sector Salary Comparison
Where can you get paid more, working for a private company or for the government? Public sector employees in United States earn 5% more than their private sector counterparts on average across all sectors.
Percentage increase and decrease are relative to the previous value
Browse SalariesSalary Increase Letters
Best Paying Jobs