Connecticut Salaries 2025
America's wealthiest state with finance and insurance power
Median Household Income (#4 in USA)
Connecticut Salary Overview 2025
Connecticut ranks among America's wealthiest states, with a median household income of $83,800—fourth highest nationally. The state's prosperity stems from its unique position as both a hedge fund capital (Greenwich) and insurance industry headquarters (Hartford), combined with proximity to New York City that allows high-earning commuters to enjoy suburban living with Manhattan salaries.
The economy divides geographically: Fairfield County in the southwest functions as an extension of the New York metro, housing finance professionals and corporate headquarters. Hartford anchors the insurance industry, while New Haven adds education (Yale) and healthcare. Defense manufacturing (submarines, helicopters) provides blue-collar opportunity.
Connecticut's high incomes come with high costs—property taxes among the nation's steepest and cost of living 11% above average. The state has struggled with population loss as residents flee to lower-tax states, though remote work has stemmed some outflow. For comprehensive salary data, see salary trends 2025.
Connecticut Salary Snapshot
| Metric | Connecticut | National Average |
|---|---|---|
| Median Household Income | $83,800 | $74,580 |
| Mean Household Income | $120,000 | $97,300 |
| Per Capita Income | $47,800 | $37,638 |
| Minimum Wage (2025) | $15.69/hr | $7.25/hr (federal) |
| Cost of Living Index | 111 | 100 |
| Top Income Tax Rate | 6.99% | Varies |
Salaries by Connecticut Region
Fairfield County (Stamford, Greenwich, Norwalk)
Median Household Income: $105,000
Fairfield County is Connecticut's economic engine and one of America's wealthiest areas. Greenwich alone hosts 400+ hedge funds managing trillions in assets. Stamford has attracted corporate headquarters (Charter Communications, WWE, Synchrony Financial) and financial services operations fleeing Manhattan costs. Finance salaries are exceptional: hedge fund analysts $150,000-$400,000+, portfolio managers $300,000-$2,000,000+, corporate executives $200,000-$1,000,000+.
Many residents commute to Manhattan (45-75 minutes via Metro-North), earning NYC salaries while enjoying Connecticut housing and schools. Housing is expensive ($700,000+ median, Greenwich $2M+) but substantially below Manhattan.
Hartford Metro – Insurance Capital
Median Household Income: $72,000
Hartford is the historic "Insurance Capital of the World," headquarters to Aetna (now CVS Health), The Hartford, Travelers, and Lincoln Financial. Insurance actuaries $85,000-$180,000+, underwriters $60,000-$110,000, claims specialists $50,000-$80,000. The concentration of insurance expertise creates specialized career paths unavailable elsewhere.
Hartford offers significantly lower costs than Fairfield County (median home $280,000) while maintaining professional salaries. Urban revitalization efforts continue, though the city faces challenges.
New Haven – Education & Healthcare
Median Household Income: $48,000
Yale University and Yale-New Haven Hospital dominate New Haven's economy. Faculty salaries $90,000-$250,000+, healthcare workers command competitive regional wages (RNs $75,000-$100,000). Biotech and life sciences spinoffs from Yale research create tech opportunities. The city's median income is depressed by student population and urban poverty, masking pockets of affluence.
New London County – Defense Manufacturing
Median Household Income: $70,000
Electric Boat (General Dynamics) builds submarines in Groton, employing 17,000+. This provides rare high-paying manufacturing jobs: engineers $85,000-$140,000, skilled trades $55,000-$90,000, production workers $45,000-$70,000. The Naval Submarine Base adds military employment. Housing remains affordable by Connecticut standards.
| Region | Median Income | Median Home | Key Industries |
|---|---|---|---|
| Fairfield County | $105,000 | $700,000 | Finance, Corporate HQs |
| Hartford | $72,000 | $280,000 | Insurance, Healthcare |
| New Haven | $48,000 | $285,000 | Education, Healthcare, Biotech |
| New London | $70,000 | $320,000 | Defense, Submarines |
Top Paying Industries in Connecticut
Finance & Hedge Funds
Greenwich is America's hedge fund capital. Bridgewater Associates, AQR, Point72, and hundreds of smaller funds manage trillions. Compensation is extraordinary: analysts $150,000-$400,000, portfolio managers $500,000-$5,000,000+, quants $200,000-$800,000. Even support roles (operations, compliance) pay well above market. Stamford adds traditional finance and corporate treasury operations.
Insurance
Hartford's insurance cluster is globally significant. Actuaries $80,000-$200,000+ (FSA credential commands premium), underwriting managers $90,000-$150,000, data scientists $100,000-$160,000. The industry offers stable careers with traditional benefits and clear advancement paths.
Healthcare
Yale-New Haven Health System, Hartford HealthCare, and regional hospitals provide substantial employment. Physicians $260,000-$500,000+ (Yale faculty often higher), nurses $75,000-$100,000. The aging population ensures continued demand.
Defense Manufacturing
Electric Boat submarines and Sikorsky helicopters (Lockheed Martin) provide advanced manufacturing employment. Engineers $85,000-$145,000, skilled trades $60,000-$95,000 with overtime. Security clearances command premiums.
| Industry | Entry Level | Mid-Career | Senior Level |
|---|---|---|---|
| Hedge Funds | $120,000 | $300,000 | $1,000,000+ |
| Insurance (Actuarial) | $70,000 | $120,000 | $200,000+ |
| Healthcare (Physicians) | $260,000 | $350,000 | $500,000+ |
| Defense Engineering | $75,000 | $105,000 | $145,000+ |
| Nursing (RN) | $70,000 | $85,000 | $100,000+ |
Connecticut Tax Analysis
State Income Tax Brackets (2025)
| Taxable Income | Tax Rate |
|---|---|
| $0 – $10,000 | 3.0% |
| $10,001 – $50,000 | 5.0% |
| $50,001 – $100,000 | 5.5% |
| $100,001 – $200,000 | 6.0% |
| $200,001 – $250,000 | 6.5% |
| $250,001 – $500,000 | 6.9% |
| $500,001+ | 6.99% |
The Property Tax Reality
Connecticut's property taxes average 2.14%—among the nation's highest. On a $500,000 home, expect $10,700/year in property taxes. Some municipalities exceed 3%. This significantly impacts overall tax burden and is a primary driver of out-migration.
Tax Comparison
| Salary | CT Tax | FL Tax | CT Property (on $600K home) |
|---|---|---|---|
| $150,000 | ~$8,200 | $0 | ~$12,800 |
| $250,000 | ~$15,000 | $0 | ~$12,800 |
| $500,000 | ~$32,000 | $0 | ~$12,800 |
High earners in Connecticut face combined income and property tax burdens that can reach 8-10% of income—a key reason for Florida and Texas migration.
Connecticut Cost of Living Analysis
| Expense | Connecticut | National Avg |
|---|---|---|
| Housing Index | 125 | 100 |
| Median Home Price | $385,000 | $420,000 |
| Median Rent (2BR) | $1,650 | $1,400 |
| Groceries Index | 105 | 100 |
| Utilities Index | 125 | 100 |
| Healthcare Index | 110 | 100 |
Housing by Region
| Area | Median Home | Median Rent (2BR) |
|---|---|---|
| Greenwich | $2,100,000 | $3,500 |
| Stamford | $650,000 | $2,400 |
| Norwalk | $580,000 | $2,100 |
| Hartford suburbs | $320,000 | $1,400 |
| New Haven suburbs | $350,000 | $1,500 |
| New London County | $320,000 | $1,350 |
Highest Paying Jobs in Connecticut 2025
| Occupation | Average Salary | Top 10% Earn |
|---|---|---|
| Hedge Fund Managers | $500,000 | $5,000,000+ |
| Physicians/Surgeons | $310,000 | $500,000+ |
| Actuaries (FSA) | $165,000 | $250,000+ |
| IT Directors | $165,000 | $220,000+ |
| Dentists | $190,000 | $300,000+ |
| Financial Managers | $155,000 | $250,000+ |
| Pharmacists | $130,000 | $155,000+ |
| Software Engineers | $120,000 | $165,000+ |
Frequently Asked Questions
Is Connecticut worth the high taxes?
Depends on your situation. For NYC commuters earning $300K+ who want excellent schools and suburban living, Connecticut offers value despite taxes. For those not tied to NYC, states like Florida or Texas offer better financial outcomes. The property tax burden is particularly challenging for retirees.
How does commuting to NYC work?
Metro-North runs frequent trains from Stamford (45 min), Norwalk (55 min), and other stations to Grand Central. Monthly passes run $350-$450. Many professionals accept the commute for Connecticut's schools, space, and relative affordability versus Manhattan or Westchester.
Hartford vs. Fairfield County: which is better?
Fairfield County offers higher salaries and NYC access but extreme costs. Hartford provides affordable living with stable insurance employment but limited upside and urban challenges. Career-driven finance professionals choose Fairfield; those seeking work-life balance at lower cost consider Hartford.
Is Connecticut good for defense careers?
Excellent. Electric Boat is expanding submarine production with Navy contracts extending decades. Sikorsky helicopters add aerospace. The jobs are well-paying, stable, and less tied to economic cycles. Security clearances provide job security and salary premiums.
Why are people leaving Connecticut?
High taxes (income and property), cold weather, and better opportunities elsewhere. Retirees and remote workers increasingly relocate to Florida, Texas, or North Carolina. However, the pandemic slowed outflow as NYC workers valued Connecticut space, and some have returned for schools and lifestyle.