Earnings Report: WA Biz Owners Earn Highest Salaries in the USA

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Washington-based locally owned business owners rank #1, across America, for the highest average salaries, according to a new data study from Ooma, a business phone services provider.

How did the study come up with its findings?

The report examined the average wages for small- to medium-sized business owners in each state, comparing them to the national average salary to determine if entrepreneurship ensures higher income.

The recent study shows that if you own a profitable business, no matter where you live in the country, you are most likely earning above-average wages.

How do Small to Medium business owners' salaries compare to the national average?

While entrepreneurship doesn’t always guarantee success, those who become profitable tend to earn an average of 93% more than the national average wage in the US, and in Washington state, an impressive 127% more—the highest percentage in the country.

Why do Washington entrepreneurs earn more?

Washington has a diverse and profitable industry mix, including technology, aerospace (such as Boeing), and healthcare, which support businesses with higher profit margins.

Locally owned businesses in these sectors or those offering related services like consulting and logistics can generate significant profits, allowing owners to pay themselves more. For example, PayScale data shows that small business owners in high-paying industries can earn up to $166,000 per year, with Washington’s industry landscape enhancing this potential.

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1. Washington ($144,941)

2. District of Columbia ($144,612)

3. New York ($140,006)

4. Massachusetts ($139,762)

5. Alaska ($137,819)

6. Vermont ($136,067)

7. North Dakota ($135,405)

8. Oregon ($135,303)

9. Colorado ($134,565)

10. Hawaii ($132,958)

1. Florida ($95,633) 

2. West Virginia  ($99,072) 

3. Arkansas ($105,821) 

4. Georgia ($108,058) 

5. Louisiana ($109,432) 

6. Kentucky ($111,148) 

7. Michigan ($111,540) 

8. Kansas ($114,132) 

9. Alabama ($115,993) 

10. Tennessee ($116,150)