Introduction
Like any other job, the position of U.S. president comes with a salary and benefits.
Congress sets the President Salary in the USA, but according to Article II of the Constitution, the president’s income cannot be changed during the term he was elected to serve in.
The last time Congress chose to increase the president’s salary was in 2001, just before George W. Bush took office.
Today, President Biden makes the same amount: $400,000. That doesn’t include a $50,000 “expense allowance,” $100,000 for travel expenses or other entertainment allowances, according to Title 3 of the U.S. Code.
Eligibility
Article II, Section 1, Clause 5 of the Constitution sets three qualifications for holding the presidency. To serve as president, one must:
- be a natural-born citizen of the United States;
- be at least 35 years old;
- be a resident in the United States for at least 14 years.[
A person who meets the above qualifications would, however, still be disqualified from holding the office of president under any of the following conditions:
- Under Article I, Section 3, Clause 7, having been impeached, convicted and disqualified from holding further public office, although there is some legal debate as to whether the disqualification clause also includes the presidential office: the only previous persons so punished were three federal judges.
- Under Section 3 of the Fourteenth Amendment, no person who swore an oath to support the Constitution, and later rebelled against the United States, is eligible to hold any office. However, this disqualification can be lifted by a two-thirds vote of each house of Congress. There is, again, some debate as to whether the clause as written allows disqualification from the presidential position, or whether it would first require litigation outside of Congress, although there is precedent for use of this amendment outside of the original intended purpose of excluding Confederates from public office after the Civil War.
- Under the Twenty-second Amendment, no person can be elected president more than twice. The amendment also specifies that if any eligible person serves as president or acting president for more than two years of a term for which some other eligible person was elected president, the former can only be elected president once.
What Is A President’s Salary?
| Percentile | Annual Salary | Monthly Salary | Hourly Rate |
|---|---|---|---|
| 90th Percentile | $372,000 | $31,000 | $179 |
| 75th Percentile | $279,000 | $23,250 | $134 |
| Average | $203,647 | $16,971 | $98 |
| 25th Percentile | $148,000 | $12,333 | $71 |
| 10th Percentile | $111,000 | $9,250 | $53 |
Average President Salary
The average salary for a President is $152,310
$152,310/year
Avg. Base Salary (USD)
President Average Salary By State
| Rank | State | Avg. Salary | Hourly Rate | Job Count |
|---|---|---|---|---|
| 1 | Washington | $206,949 | $99.49 | 388 |
| 2 | New York | $200,076 | $96.19 | 3,190 |
| 3 | Illinois | $194,351 | $93.44 | 1,144 |
| 4 | New Jersey | $200,088 | $96.20 | 810 |
| 5 | Oregon | $198,512 | $95.44 | 275 |
| 6 | Montana | $198,563 | $95.46 | 51 |
| 7 | North Carolina | $186,885 | $89.85 | 578 |
| 8 | Pennsylvania | $192,418 | $92.51 | 540 |
| 9 | Nevada | $191,921 | $92.27 | 101 |
| 10 | Texas | $184,571 | $88.74 | 1,432 |
How much does the president make?
The last three presidents elected to office—Donald Trump, Barack Obama, and George W. Bush—have all made $400,000 a year in salary. The president also gets an additional expense allowance every year of $50,000. On top of that, they get free housing in the White House, free transportation, and free health care administrated by the private medical team available in the White House. Unsurprisingly, that puts their job in the top 1 percent of yearly salaries.
Salary Ranges
The salaries of Us Presidents in the US range from $84,106 to $799,765 , with a median salary of $399,848 . The middle 57% of Us Presidents makes between $399,868 and $533,143, with the top 86% making $799,765.
Source link: https://www.comparably.com/
How Long Do Presidents Get Paid?
The Former Presidents Act of 1958 ensures that U.S. presidents get paid for life. Congress passed the act to provide for President Harry Truman. After he left office, he had many financial problems. The Act provides former presidents with a pension. They also receive funds for travel, office space, support staff, and mailing costs. The pay should equal that of a head of a federal government executive department. In 2022, these Executive Level I employees received $226,300.
Ex-presidents also receive seven months of transition services. It covers the costs of winding down the outgoing administration and briefing the incoming administration.
They receive funds for office space and office staff. The aggregate salary for the staff is capped at $150,000 a year for the first 30 months and $96,000 a year afterward. Widows or widowers of former presidents receive $20,000 a year.
How much did past presidents make?
Since the first president was elected in 1789 there have been five pay raises, the most recent in 2001. It might seem like past presidents didn’t make that much, but if you take inflation into account, that amount of money in 1789 would be worth a lot more today. Check out these hidden talents of 24 U.S. presidents.
1789: $25,000
1873: $50,000
1909: $75,000
1949: $100,000
1969: $200,000
2001: $400,000
Common Health Benefits for a President
Medical
81%
Dental
63%
Vision
54%
None
19%
Gender Breakdown for Presidents
Male
80.0%
Female
19.5%
Prefer to self-define
0.5%
Presidents Salaries Throughout History
Congress has only given the president a raise five times. A president cannot get a raise while serving a current term. As a result, most raises are gifts from an outgoing president to future ones.
Here is the president’s salary through history and what it would be worth in today’s dollars. Thanks to inflation, all previous presidents received more in buying power than the nation’s top executive does today.
- 1789: The president’s salary was $25,000. It would have been worth over $800,000 in 2022.
- 1873: President Ulysses S. Grant signed the bill that authorized his raise for his second term. The $50,000 salary would be worth $1.18 million in 2022.
- 1909: William Taft received a $75,000 salary. It would be worth $2.34 million in 2022.
- 1949: Harry Truman received a $100,000 salary. It would be worth $1.18 million in 2022.
- 1969: Richard Nixon’s $200,000 salary would be worth $1.59 million in 2022.
- 2001: George W. Bush received $400,000. That amount paid in 2001 would be worth about $648,123 in 2022.
Post Retirement
There are numerous perks that the President of India is entitled to after retirement. Some of them have been listed below.
The President of India will get Rs. 1.5 lakh/month as a pension (at current rates).
The spouses of Presidents will get secretarial assistance of Rs. 30,000 per month.
One furnished rent-free bungalow (Type VIII).
Two free landlines and a mobile phone.
Five personal staff including a private secretary
Staff expenses of Rs.60,000 a year.
Free Travel with a companion by train or air.
Top companies
How much tax will you have to pay as an Us President?
For an individual filer in this tax bracket, you would have an estimated average federal tax in 2018 of 35%. After a federal tax rate of 35% has been taken out, Us Presidents could expect to have a take-home pay of $295,229/year, with each paycheck equaling approximately $12,301.
Highest paying cities for Presidents in United States
FAQs About Presidents Salary in the USA:
What is the highest pay for Presidents?
Our data indicates that the highest pay for a President is $260k / year
What is the lowest pay for Presidents?
Our data indicates that the lowest pay for a President is $76k / year
How can Presidents increase their salary?
Increasing your pay as a President is possible in different ways. Change of employer: Consider a career move to a new employer that is willing to pay higher for your skills. Level of Education: Gaining advanced degrees may allow this role to increase their income potential and qualify for promotions. Managing Experience: If you are a President that oversees more junior Presidents, this experience can increase the likelihood to earn more.
Conclusion
The President shall, at stated Times, receive for his Services, a Compensation, which shall neither be increased nor diminished during the Period for which he shall have been elected, and he shall not receive within that Period any other Emolument from the United States, or any of them.
On May 14th, the House Appropriations Subcommittee on Treasury, Postal Service and General Government included a provision in the Treasury appropriations bill that would increase the President’s salary to $400,000, effective January 20, 2001.
Source link: https://www.indeed.com/
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