The income you need to be in the top 1 per cent depends on what country you live in. For instance, in India, if you earn Rs 25,000 or more in India, then your salary comes under the top 10 per cent of the total wages earned in India. The income disparity across the globe is off the charts – The top 1 per cent of earners comprise a very small portion of the population. So, how much should one earn to be in the top 1 per cent in various countries? Here’s the answer as per the Bloomberg report.
UAE | Rs 1.9 crores
If you want to be a part of the elite 1 per cent group in the UAE, you would need an annual pretax income of $922,000 or Rs 1,93,14,978. You read that right! It’s 12 times more income than in India. For the unversed, UAE also doesn’t have any income tax.
Singapore | Rs 1.5 Crores
You would need an annual pretax income of around $722,000 or Rs 1,51,25,178 if you are living in Singapore. Being the most expensive country to live in on this list, you would need $2169 per month to live in Singapore.
United States | Rs 1 Crore
If you are in the United States and you want to be a part of the top 1 percent, you’d need around $488,000 or Rs 1,02,23,112. The cost of living of about $1951 per month.
Bahrain | Rs 1 Crore
You need around $485,000 or Rs 1,01,60,265 annually to join the top 1 per cent of Bahrain. Just like UAE, Bahrain also doesn’t have any personal tax for its citizens.
Germany | Rs 58 Lakhs
Germany was ranked the 20th richest country in the world in 2021. You need to earn around $277,000 or Rs 58,02,873.
United Kingdom | Rs 51 Lakhs
To live in the UK and be a part of the top 1 per cent, you require an annual pretax income of $248,000 or Rs 51,95,352. It’s the most expensive country to live in 2023.
Australia | Rs 51 Lakhs
The 21st richest country in the world – you would need $246,000 or Rs 51,53,454 to be a part of top 1 per cent in acAustralia.
Canada | Rs 42 Lakhs
Canada is the 24th richest country in the world list. An annual pretax income of $201,000 or Rs 42,10,749 will allow you to find a spot in the top 1 per cent of the country.
China | Rs 22 Lakhs
To be in the top 1 per cent of China, a person needs to earn $107,000 or Rs 22,41,543 annually.
India | Rs 16 Lakhs
It’s fairly easy to be in the top 1 per cent in India – You would need to earn just around $77,000 or Rs 16,13,073 annually.
Note: The digits are for the most recent year available and are given in 2018 US Dollars adjusted for Purchasing Power Parity (PPP).