Here’s How Much You Need To Earn To Be ‘Rich’ in 30 Major Countries Around the World

Jami Farkas

10 June 2024 at 9:00 am·6-min read

How many Americans can be considered 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 — 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 where everyone’s dreams can come true. It’s 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:

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

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

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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

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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

PHOTOCREO Michal Bednarek / Shutterstock.com

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 June 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

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