Here’s How Much You Need To Earn To Be ‘Rich’ in 30 Major Countries Around the World
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.
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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
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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
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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
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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
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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
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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
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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
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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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This article originally appeared on GOBankingRates.com: Here’s How Much You Need To Earn To Be ‘Rich’ in 30 Major Countries Around the World
