Back in the 1990s and up to early 2000s, making six figures, aka $100K+ was a goal and something those who did, generally bragged about. Today it is nothing to brag about and in most major cities it is near poverty level wage (after taxes, housing and transportation you will be left with enough to just get by). However, the mental image that a $100K salary is great income is still stuck in people’s head and serves as a mental barrier for most Americans. I think we will see a major shift in wage demands once we pass this mental barrier, however, I don’t think this will happen until the median household income hits near $100K. In 2022 the median household income was $75K. Based on an inflation rate of about 2.9% annually we should see this change in about ten years from now, so like after 2033.
That being said, I personally believe we are going to see higher inflation rates in a few years from now and thus, we will hit this mark before the end of the decade around 2029.