Earning a big salary can be a sign of broader success. For corporate ladder-climbers, it could indicate years of effort to level up. For others, like doctors and lawyers, it may reflect years of education and strong academic performance.

But regardless of how you get there, Americans, on average, say it takes an annual salary of $270,214 to be financially successful, according to a recent survey by Empower, a financial services company.

That's more than three times the median household income of $80,610, according to the U.S. Census Bureau. In fact, just 10% of U.S. households earned more than $234,900 in 2023.

But with living costs pinching even high earners and the fact that more money almost always brings individuals more happiness, it's understandable that Americans say you need a substantial salary to be considered successful.

Young Americans say success takes even more

While the average salary Americans say they need to be successful is high compared with what the average person is currently earning, Gen Z sets their sights even higher. The average salary adults between the ages of 18 and 27 say they need to be successful is $587,797, Empower found.

That's far more than each of the other adult generations. Here's the average salary older adults said would make them feel successful:

• Millennials (ages 28 to 43): $180,865
• Gen X (ages 44 to 59): $212,321
• Baby boomers (ages 60 to 78): $99,874

It's common for individuals to feel they're doing worse than their peers, with 49% of Americans feeling less financially successful than others. That could be part of the reason they say they'd need such a high salary to feel accomplished, says Rebecca Rickert, head of communications at Empower.

Most Americans (60%) also say financial success is harder for their generation to achieve, compared with other generations. Baby boomers are the least likely to share this sentiment, with just 49% agreeing, while millennials are the most likely, with 69% agreeing.

"The majority [of respondents] think prosperity is harder to achieve for their generation — which factors into the magic number people attach to success," Rickert says.

It's a similar story when it comes to net worth. On average, Americans say you need a net worth of about $5.4 million to be considered successful, Empower reported. And once again, Gen Z blew that number out of the water with even bigger expectations.

Here's the average net worth each generation says would make them feel successful:

• Gen Z: $9.5 million
• Millennials: $5.6 million
• Gen X: $5.3 million
• Baby boomers: $1 million

"Younger generations are the most optimistic about achieving financial success in their lifetime, though they estimate it'll take more money to get there," Rickert says. 

Especially for those just starting out, "the big finish may seem further out, especially given economic uncertainty or the prospect of income instability, which people see as barriers to their success," she adds.

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