The annual salary statistics of postsecondary business teachers in Richmond, Virginia is shown in Table 1. The wage statistics of postsecondary business teachers in Richmond is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $51,710 |
| 25th Percentile Wage | $64,690 |
| 50th Percentile Wage | $83,090 |
| 75th Percentile Wage | $138,480 |
| 90th Percentile Wage | $176,950 |
Table 1 shows the average annual salary for postsecondary business teachers in Richmond, Virginia in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $176,950. The median (50th percentile) annual salary is $83,090. The average annual salary for the bottom 10 percent earners is $51,710.
The table and chart below show the trend of the median salary of postsecondary business teachers from 2012 to 2022. Note that there is no salary data for some years between 2012 and 2022.
| Year | Median Salary | Growth | 10-Year Growth |
|---|---|---|---|
| 2022 | $83,090 | 1.34% | -33.76% |
| 2021 | $81,980 | -30.17% | - |
| 2013 | $106,710 | -4.15% | - |
| 2012 | $111,140 | - | - |
From Table 3 we note that the median annual salary of $83,090 in Richmond is in the middle of salary range for postsecondary business teachers in state of Virginia. In comparison, the annual salary of postsecondary business teachers in Richmond is 20.7 percent (20.7%) lower than that in the highest paying Blacksburg-Christiansburg-Radford and 48.9 percent (48.9%) higher than that in the lowest paying Southwestern Virginia nonmetropolitan area.