New Jersey Salaries 2025
Pharmaceutical powerhouse with NYC and Philly access
Median Household Income (#7 in USA)
New Jersey Salary Overview 2025
New Jersey ranks seventh nationally in median household income at $89,300, powered by pharmaceutical headquarters, NYC financial industry spillover, and highly educated workforce. The state's strategic location between New York and Philadelphia creates unique career access while its pharma concentration is unmatched nationally.
Central New Jersey is America's pharmaceutical heartland—Johnson & Johnson, Merck, Bristol-Myers Squibb, Novo Nordisk, and dozens of other companies create the densest pharma employment cluster outside of Boston. Northern New Jersey offers NYC access with (somewhat) lower costs, while the Jersey Shore and southern regions provide different lifestyle options.
The tradeoff: New Jersey has the nation's highest property taxes (2.47% average) and significant income taxes for high earners. Combined with elevated housing costs, the tax burden is substantial. However, for careers in pharma, finance, or healthcare with NYC access, New Jersey offers compelling opportunities. For comprehensive salary data, see salary trends 2025.
New Jersey Salary Snapshot
| Metric | New Jersey | National Average |
|---|---|---|
| Median Household Income | $89,300 | $74,580 |
| Mean Household Income | $121,000 | $97,300 |
| Per Capita Income | $47,000 | $37,638 |
| Minimum Wage (2025) | $15.13/hr | $7.25/hr (federal) |
| Cost of Living Index | 120 | 100 |
| Top Income Tax Rate | 10.75% | Varies |
Salaries by New Jersey Region
Northern NJ (Jersey City, Hoboken, Newark)
Median Household Income: $85,000
Northern New Jersey is essentially NYC's sixth borough. Jersey City and Hoboken house Manhattan commuters; Newark adds corporate headquarters and airport. Finance professionals, tech workers, and lawyers earn NYC-competitive salaries while living across the Hudson. Software engineers $110,000-$180,000, finance $90,000-$250,000+. Housing is expensive ($600,000+ in Hoboken/JC) but below Manhattan.
Central NJ – Pharma Corridor
Median Household Income: $105,000
Central New Jersey hosts America's pharmaceutical capital. Johnson & Johnson (New Brunswick), Merck, Bristol-Myers Squibb, Novo Nordisk, and dozens of others create unmatched pharma employment. Scientists $90,000-$180,000, directors $160,000-$280,000, executives $300,000-$1,000,000+. Excellent schools in towns like Princeton, Montgomery, and Bridgewater attract families. Housing $550,000-$900,000 in desirable areas.
Princeton Area
Median Household Income: $135,000
Princeton University creates education employment and attracts corporate headquarters seeking prestige. Bristol-Myers Squibb, NRG Energy, and consulting firms locate here. Very expensive housing ($900,000+ median) but exceptional schools and community.
South Jersey (Cherry Hill, Camden County)
Median Household Income: $75,000
South Jersey functions more as Philadelphia suburbs. Healthcare (Virtua, Cooper) and professional services create employment. More affordable ($350,000 median) than northern/central regions. Philly commuters benefit from NJ residence.
Jersey Shore
Median Household Income: $70,000
Coastal communities from Sandy Hook to Cape May offer beach living. Tourism and healthcare dominate. Seasonal economy affects employment. Housing varies dramatically—beach towns expensive, inland more affordable.
| Region | Median Income | Median Home | Key Industries |
|---|---|---|---|
| Northern NJ | $85,000 | $550,000 | Finance, Tech, NYC Commuters |
| Central NJ | $105,000 | $600,000 | Pharmaceutical, Healthcare |
| Princeton Area | $135,000 | $900,000 | Education, Pharma, Consulting |
| South Jersey | $75,000 | $350,000 | Healthcare, Philly Commuters |
Top Paying Industries in New Jersey
Pharmaceuticals
New Jersey is America's pharma capital. Johnson & Johnson, Merck, Bristol-Myers Squibb, Novo Nordisk, and numerous others create exceptional career paths. Research scientists $95,000-$180,000, directors $170,000-$300,000, VPs $300,000-$600,000+, executives higher. The concentration enables career mobility without relocation.
Finance (NYC Spillover)
Many financial services firms maintain NJ operations or employ NJ residents. Goldman Sachs, JPMorgan, and others have Jersey City presence. NYC salaries with (slightly) lower costs. Analysts $90,000-$150,000, VPs $180,000-$350,000, MDs $400,000-$1,000,000+.
Healthcare
Major health systems (RWJBarnabas, Hackensack Meridian, AtlantiCare) employ tens of thousands. Physicians $280,000-$500,000+, nurses $75,000-$100,000. Pharma adjacency creates specialized healthcare opportunities.
Technology
Growing tech presence in Jersey City "Wall Street West" and pharma-adjacent biotech. Software engineers $100,000-$170,000, data scientists $110,000-$165,000.
| Industry | Entry Level | Mid-Career | Senior Level |
|---|---|---|---|
| Pharma (Research) | $85,000 | $140,000 | $220,000+ |
| Finance | $90,000 | $180,000 | $400,000+ |
| Healthcare (Physicians) | $280,000 | $380,000 | $500,000+ |
| Software Engineering | $90,000 | $135,000 | $180,000+ |
New Jersey Tax Analysis
State Income Tax Brackets
| Taxable Income | Tax Rate |
|---|---|
| $0 – $20,000 | 1.4% |
| $20,001 – $35,000 | 1.75% |
| $35,001 – $40,000 | 3.5% |
| $40,001 – $75,000 | 5.525% |
| $75,001 – $500,000 | 6.37% |
| $500,001 – $1,000,000 | 8.97% |
| $1,000,001+ | 10.75% |
Property Tax Reality
New Jersey has the nation's highest property taxes—2.47% average. On a $600,000 home, expect $14,820+ annually. This is a major cost consideration.
| At $150K Salary | NJ | NY | PA |
|---|---|---|---|
| State Income Tax | ~$8,500 | ~$10,000 | ~$4,600 |
| Property Tax ($500K home) | ~$12,350 | ~$9,000 | ~$7,500 |
Highest Paying Jobs in New Jersey 2025
| Occupation | Average Salary | Top 10% Earn |
|---|---|---|
| Physicians/Surgeons | $310,000 | $500,000+ |
| Pharma Executives | $350,000 | $1,000,000+ |
| Investment Bankers | $250,000 | $600,000+ |
| IT Directors | $175,000 | $230,000+ |
| Pharma Directors | $220,000 | $320,000+ |
| Software Architects | $165,000 | $210,000+ |
Frequently Asked Questions
Is New Jersey worth the high taxes?
For pharma careers, often yes—no comparable concentration exists elsewhere. For NYC commuters, it's a tradeoff calculation vs. living in the city. South Jersey can be attractive for Philly access at lower costs than Pennsylvania's suburbs.
Northern NJ vs. Central NJ vs. South?
Northern for NYC access and urban lifestyle. Central for pharma careers and excellent schools. South for Philly access and better value. Each has distinct character and employment base.
How do NJ pharma salaries compare to Boston?
Competitive and often higher at senior levels. Boston has more biotech startups; NJ has more big pharma headquarters. Both are top-tier for life sciences careers.