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1907 Salaries And Today
Posted By Jim On 03/01/2007 @ 2:08 pm In Career | 5 Comments
A friend of mine recently sent out an email forward that, amongst other things, stated the following to be true in 1907:
The average wage in the U.S. was 22 Cents per hour.
The average U.S. worker made between $200 and $400 per year.
A competent accountant could expect to earn $2000 per year,
a dentist made $2,500 per year,
a veterinarian between $1,500 per year,
and a mechanical engineer about $5,000 per year.
Another friend then made the quip that they (mechanical engineers) still only make $5,000 a year, not taking into account the impact of inflation on purchasing power in the last hundred years.
If readjusted to 2007 dollars instead of 1907 dollars, I turned to the Bureau of Labor and Statistics’ CPI calculator  (which only went back as far as 1913 because that’s when CPI was first started, so these numbers are not 100% accurate and should be higher than what I’ve written) and this is what it would read instead:
The average wage in the U.S. was $4.50 per hour.
The average U.S. worker made between $4,089.21 and $8,178.42 per year.
A competent accountant could expect to earn $40,892.12 per year,
a dentist made $51,115.15 per year,
a veterinarian between $30,669.09 per year,
and a mechanical engineer about $102,230.30 per year.
So in essence, my friend was unknowingly correct.
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