Average Salary in Denver 2023 - The Complete Guide (2023)

How much money does a person working in Denver make?


Average Salary in Denver 2023 - The Complete Guide (1)

Average Yearly Salary

102,000 USD

( 8,530 USD monthly)


LOW
25,900
USD
AVERAGE
102,000
USD
HIGH
457,000
USD

A person working in Denver typically earns around 102,000 USD per year. Salaries range from 25,900 USD (lowest average) to 457,000 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 Denver

Average Salary in Denver 2023 - The Complete Guide (2)

The median, the maximum, the minimum, and the range

  • Salary Range

    Salaries in Denver range from 25,900 USD per year (minimum salary) to 457,000 USD per year (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 94,100 USD per year, which means that half (50%) of the population are earning less than 94,100 USD while the other half are earning more than 94,100 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.

  • Percentiles

    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 54,000 USD while 75% of them are earning more than 54,000 USD. Also from the diagram, 75% of the population are earning less than 253,000 USD while 25% are earning more than 253,000 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?

Average Salary in Denver 2023 - The Complete Guide (8)

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?

Average Salary in Denver 2023 - The Complete Guide (14)

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.

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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

Average Salary in Denver 2023 - The Complete Guide (15)

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.

Male

97,500 USD

Female-6%

92,100 USD

Percentage increase and decrease are relative to the previous value

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Average Annual Salary Increment Percentage in United States

How much are annual salary increments in United States? How often do employees get salary raises?

United States

Employees in United States are likely to observe a salary increase of approximately 8% every 16 months.

Average Salary in Denver 2023 - The Complete Guide (16)

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

Banking

4%

Energy

8%

Information Technology

3%

Healthcare

7%

Travel

2%

Construction

6%

Education

1%

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

Junoir Level

3% - 5%

Mid-Career

6% - 9%

Senior Level

10% - 15%

Top Management

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

Average Salary in Denver 2023 - The Complete Guide (17)

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Bonus and Incentive Rates in United States

How much and how often are bonuses being awarded?Average Salary in Denver 2023 - The Complete Guide (19)

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.

Received Bonus

53%

No Bonus

47%

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.

Goal-Based Bonuses

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

Finance

High

Architecture

High

Sales

High

Business Development

High

Marketing / Advertising

High

Information Technology

Moderate

Healthcare

Moderate

Insurance

Moderate

Customer Service

Moderate

Human Resources

Moderate

Construction

Low

Transport

Low

Hospitality

Low


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting 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.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.

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.

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Salaries for popular jobs

Job TitleAverage Salary
Accounting and Finance
Accountant72,100 USD
Accounting Assistant54,100 USD
Accounting Manager152,000 USD
Bookkeeper45,700 USD
Chartered Accountant92,400 USD
Corporate Treasurer136,000 USD
Financial Analyst127,000 USD
Financial Manager209,000 USD
Internal Auditor91,600 USD

Administration / Reception / Secretarial
Administrative Assistant52,400 USD
Office Manager90,500 USD
Receptionist38,200 USD
Secretary43,500 USD

Advertising / Grapic Design / Events
Art Director104,000 USD
Creative Director104,000 USD
Graphic Designer65,300 USD
Photographer58,300 USD

Airlines / Aviation / Aerospace / Defense
Aerospace Engineer126,000 USD
Air Traffic Controller115,000 USD
Flight Attendant71,300 USD
Pilot176,000 USD

Architecture
Architect115,000 USD
CAD Drafter50,400 USD

Automotive
Mechanic36,400 USD
Service Advisor68,000 USD

Banking
Bank Branch Manager178,000 USD
Teller39,000 USD

Bilingual
Teacher73,900 USD
Translator92,400 USD

Business Planning
Business Analyst128,000 USD
Business Development Manager166,000 USD
Project Manager117,000 USD

Care Giving and Child Care
Nanny42,300 USD
Nursery Teacher38,300 USD

Construction / Building / Installation
Civil Engineer96,100 USD
Construction Project Manager170,000 USD
Health and Safety Officer46,700 USD

Customer Service and Call Center
Call Center Representative39,100 USD
Customer Service Manager142,000 USD
Customer Service Representative38,000 USD

Engineering
Electrical Engineer99,600 USD
Engineer97,100 USD
Mechanical Engineer93,500 USD

Executive and Management
Chief Executive Officer218,000 USD
Chief Financial Officer217,000 USD
General Manager185,000 USD

Food / Hospitality / Tourism / Catering
Chef61,500 USD
Executive Chef72,100 USD
Hotel Manager188,000 USD
Travel Agent61,100 USD
Waiter / Waitress32,400 USD

Health and Medical
Dentist244,000 USD
Dietitian192,000 USD
Laboratory Technician74,200 USD
Nurse75,100 USD

Human Resources
Human Resources Manager145,000 USD
Human Resources Officer59,600 USD

Information Technology
Computer Technician80,200 USD
Database Administrator98,600 USD
Developer / Programmer96,400 USD
Information Technology Manager159,000 USD
Network Engineer83,900 USD

Law Enforcement / Security / Fire
Police Officer59,100 USD

Legal
Attorney195,000 USD
Legal Assistant55,500 USD

Media / Broadcasting / Arts / Entertainment
Journalist113,000 USD

Pharmaceutical and Biotechnology
Biomedical Engineer87,700 USD
Pharmacist122,000 USD

Sales Retail and Wholesale
Cashier37,200 USD
Sales Manager168,000 USD
Sales Representative67,200 USD

Teaching / Education
Elementary School Teacher71,700 USD
Secondary School Teacher82,000 USD

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Average Hourly Wage in Denver

Average Salary in Denver 2023 - The Complete Guide (21) 49 USD per hour

The average hourly wage (pay per hour) in Denver is 49 USD. This means that the average person in Denver 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.

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Denver VS United States

Average Salary in Denver 2023 - The Complete Guide (22)

We compared salaries in Denver, Colorado, and United States and we found that Denver salaries are 1% more than those of Colorado. We also found out that Colorado salaries are 6% more than those of United States.

Salary Comparison By City

CityAverage Salary
Denver102,000 USD

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.

Private Sector

92,400 USD

Public Sector+5%

97,100 USD

Percentage increase and decrease are relative to the previous value

United States»Colorado»Denver

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