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It puts some things into perspective but keep in mind, salary level doesn’t equate to wealth. The wealthiest 1% likely do not earn an annual salary of $250k. Income and wealth will be correlated but they are not the same thing, and the correlation will be weakest at the tails
SA1 I don’t think you know what a pretty average life is like
When’s the last time anyone compared themselves to the rest of the nation? We compare (compete) vs people within our industry and people with similar education levels.
Or instead of debating semantics, we could take a minute and be really incredibly thankful for what that means in our lives. Yes, consultants tend to work long hours and in challenging and frustrating gigs, but so does a single parent who doubles up in food service days and security nights to feed their family.
Interesting - seems like housing prices in major cities are only tailored to the top half of 1% - which I never quite understand
In New York City and SF, you live a pretty average life with that income. Elsewhere, you’re rich. I think top 1% in NY is $450,000-$550,000 and up, if I remember correctly.
https://www.cnbc.com/2017/06/14/how-much-you-have-to-earn-to-be-in-the-top-1-percent-in-the-biggest-us-cities.html
This gives the city breakdown. As you can see SF and NYC are crazy high
Big if. I’m not SM or higher. I know I get peanuts 🥜 .
There are some good calculators out there that will tell you your exact income %. For some reason I thought top 1% had moved to 350k+...
Food for thought: No one ever got to the 1% by working for someone else their whole lives...
But A1, that’s the thing with averages...look at how many of the top 5% of earners live in those big cities vs elsewhere; of the 160M, that’s 8M people. Also the data doesn’t distinguish if this is individual or household which would also dramatically change your interpretation- though I would bet this is individual.
Here’s there source data. Hard to link straight to Quora comments which is why I included an image before.
https://www.ssa.gov/cgi-bin/netcomp.cgi?year=2015
Good for directional guidance at best...
This is just for salary... the top 1% makes more money!
This is not accurate, i make 300k+ and am not in the 1% but i would love to believe i am as i can sleep better at night.
1% net worth is more important.
Me: Can I afford to buy an Aston Martin ?
Answer: No
Me: Put your a** to work..
Household income not single income earners yo
Seems legit given that they apparently have more than one life. @BA1