Is there a correlation between pay and age groups?

There is a clear connection between compensation and age groups:
• 20-29 years: Ø Basic annual salary approx. 27,400€
• 30-39 years: Ø Basic annual salary approx. 34,500€
• 40-49 years: Ø Basic annual salary approx. 53,900€
• 50-59 years: Ø Basic annual salary approx. 58,000€
• 60+ years: Ø Basic annual salary approx. 88,600€

With age, the average annual salary increases significantly. The jump is particularly noticeable in the 40-49 and 60+ age groups. This suggests that professional experience and seniority have a significant impact on compensation.

‍Conclusion: There is a clear positive correlation between age (or age group) and average annual salary.