The income required to be in the top 1 percent varies greatly depending on what country you live in.
The amount you need to earn in the oil-rich United Arab Emirates, for example, is eleven times as much as it takes in India, a developing market. That's a according to a recent Bloomberg analysis of how much the top 1 percent earn, spend and owe in taxes.
Here's the full breakdown of the annual pretax income you need to be among the top 1 percent of earners in various countries. The figures below, from Bloomberg, are in 2017 U.S. dollars.
United Kingdom: $290,000
United States: $478,000
United Arab Emirates: $891,000
When you zero in on the United States, the threshold to be in the top 1 percent of earners can vary significantly by region.
To be among the top 1 percent in America in 2015, you needed a minimum household income of $421,926 before taxes, according to a 2018 Economic Policy Institute (EPI) report. The report analyzed how the top 1 percent of earners and the bottom 99 percent across the U.S. have fared between 1917 and 2015.
In affluent metropolitan areas, the threshold was much higher. In New York City, your household needed an annual income of $744,426 to be in the top 1 percent of earners. In San Francisco, it was $943,782.
There were even a handful of metro areas where the threshold was above $1 million. In Jackson, Wyoming — home to extremely wealthy residents like former vice president Dick Cheney and Walmart heiress Christy Walton — you had to make $1.7 million to be among the 1 percent in 2015.
Keep in mind that these numbers just represent the threshold you had to cross: The average income of the top 1 percent nationwide was $1.32 million in 2015. And in the Jackson metro area, it was $16.2 million.
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