Here’s How Much You Need To Earn To Be ‘Rich’ in 30 Major Countries Around the World
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How many Americans can be considered really rich? Not many.
According to a recent report from The Institute for Economic Equality at the Federal Reserve Bank of St. Louis, in the third quarter of 2023, the top 10% of households, as measured by wealth, had an average of $6.5 million and 67% of total household wealth. By contrast, the bottom 50% of households had $50,000 in wealth — just 3% of total household wealth.
As the rich get richer and the poor get poorer, the U.S. is hardly the country where everyone’s dreams can come true. It is indeed getting tougher for the middle class to hold their ground, let alone manage their bills and other expenses. But how does your standard of living compare to that of others around the globe?
Here’s a look at how much you need to be considered rich in 30 countries around the world.
Australia
- Annual pre-tax income needed to be in the 1%: $284,981
- Annual pre-tax income needed to be in the top 10%: $125,021
Bangladesh
- Annual pre-tax income needed to be in the 1%: $55,378
- Annual pre-tax income needed to be in the top 10%: $17,954
Brazil
- Annual pre-tax income needed to be in the 1%: $221,352
- Annual pre-tax income needed to be in the top 10%: $45,137
Canada
- Annual pre-tax income needed to be in the 1%: $305,578
- Annual pre-tax income needed to be in the top 10%: $119,544
China
- Annual pre-tax income needed to be in the 1%: $166,057
- Annual pre-tax income needed to be in the top 10%: $52,786
Democratic Republic of Congo
- Annual pre-tax income needed to be in the 1%: $57,055
- Annual pre-tax income needed to be in the top 10%: $10,114
Egypt
- Annual pre-tax income needed to be in the 1%: $200,647
- Annual pre-tax income needed to be in the top 10%: $48,644
Ethiopia
- Annual pre-tax income needed to be in the 1%: $43,549
- Annual pre-tax income needed to be in the top 10%: $10,789
France
- Annual pre-tax income needed to be in the 1%: $275,403
- Annual pre-tax income needed to be in the top 10%: $101,789
Germany
- Annual pre-tax income needed to be in the 1%: $330,235
- Annual pre-tax income needed to be in the top 10%: $117,060
India
- Annual pre-tax income needed to be in the 1%: $103,296
- Annual pre-tax income needed to be in the top 10%: $16,807
Indonesia
- Annual pre-tax income needed to be in the 1%: $115,931
- Annual pre-tax income needed to be in the top 10%: $34,678
Iran
- Annual pre-tax income needed to be in the 1%: $208,839
- Annual pre-tax income needed to be in the top 10%: $47,375
Israel
- Annual pre-tax income needed to be in the 1%: $579,242
- Annual pre-tax income needed to be in the top 10%: $157,946
Italy
- Annual pre-tax income needed to be in the 1%: $293,686
- Annual pre-tax income needed to be in the top 10%: $93,327
Japan
- Annual pre-tax income needed to be in the 1%: $283,986
- Annual pre-tax income needed to be in the top 10%: $103,789
Mexico
- Annual pre-tax income needed to be in the 1%: $355,876
- Annual pre-tax income needed to be in the top 10%: $51,041
Nigeria
- Annual pre-tax income needed to be in the 1%: $81,381
- Annual pre-tax income needed to be in the top 10%: $23,181
Pakistan
- Annual pre-tax income needed to be in the 1%: $85,088
- Annual pre-tax income needed to be in the top 10%: $22,012
Philippines
- Annual pre-tax income needed to be in the 1%: $117,837
- Annual pre-tax income needed to be in the top 10%: $28,883
Russia
- Annual pre-tax income needed to be in the 1%: $219,165
- Annual pre-tax income needed to be in the top 10%: $50,034
Singapore
- Annual pre-tax income needed to be in the 1%: $477,187
- Annual pre-tax income needed to be in the top 10%: $215,388
South Africa
- Annual pre-tax income needed to be in the 1%: $218,147
- Annual pre-tax income needed to be in the top 10%: $56,949
Tanzania
- Annual pre-tax income needed to be in the 1%: $50,482
- Annual pre-tax income needed to be in the top 10%: $10,656
Thailand
- Annual pre-tax income needed to be in the 1%: $174,664
- Annual pre-tax income needed to be in the top 10%: $43,010
Turkey
- Annual pre-tax income needed to be in the 1%: $424,634
- Annual pre-tax income needed to be in the top 10%: $91,605
United Kingdom
- Annual pre-tax income needed to be in the 1%: $276,639
- Annual pre-tax income needed to be in the top 10%: $97,999
United States
- Annual pre-tax income needed to be in the 1%: $592,319
- Annual pre-tax income needed to be in the top 10%: $165,633
United Arab Emirates
- Annual pre-tax income needed to be in the 1%: $763,839
- Annual pre-tax income needed to be in the top 10%: $213,495
Vietnam
- Annual pre-tax income needed to be in the 1%: $112,809
- Annual pre-tax income needed to be in the top 10%: $29,750
Gabrielle Olya and Nicole Spector contributed to the reporting for this article.
Methodology: GOBankingRates analyzed countries around the world to determine how much someone needs to make (in 2022 U.S. dollars) to be considered ‘rich’. GOBankingRates started by using the World Inequality Database to find the [1] national average pre-tax income threshold to be in the top 10% of earners and the [2] national average pre-tax income threshold to be in the top 1% of earners in each country. All the data was collected and is up-to-date as of Feb. 7, 2024.
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