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08-31-2018 10:26 PM - edited 08-31-2018 10:34 PM
The 1% club: How much you need to take home to be in the top percent of earners in each state
MAILONLINE
17:19 EDT, 31 August 2018
Researchers from the Economic Policy Institute found out the minimum a person would have to earn to count themselves among the top percent in each state, and uncovered a discrepancy even among the very richest.
Mississippi is where the bar to entry drops lowest, with someone having to earn just over $250,000 per year to qualify as among the most valuable in the state.
But in Connecticut, that salary is nowhere near the top end of the scale, with people here having to earn at least $700,000 each year to count themselves among the very richest.
The study also established what the average actual salary of the top 1 per cent was in each state.
Unsurprisingly Connecticut comes out on top again, with an average salary of $2.5million but coming in second was New York with an average of $2.2million.
That is despite the fact that New York has a minimum salary of $500,000 to join the 1 per cent club, meaning a huge discrepancy between wages paid to the very top earners.
Perhaps surprisingly, given the amount of wealth concentrated in the state, California did not rank in the top five either in terms of salary required to join the 1 per cent club, or average 1 percenter salary.
In its research, the EPI singled out Jackson, WY as the most unequal location in the entire country. The data was complied using tax returns from 2015.
Taken across the whole of the U.S., you need to earn a salary of $421,926 to count yourself among the top 1 per cent, while the bottom 99 per cent earned an average of $50,107 per year.
An EPI spokesman told CNBC: 'In 2015, the top 1 per cent of families in the U.S. earned, on average, 26.3 times as much income as the bottom 99 per cent.'
State
MISSISSIPPI | 254,362 | 580,461 | |||||||
ARKANSAS | 255,050 | 864,772 | |||||||
NEW MEXICO | 255,429 | 615,082 | |||||||
WEST VIRGINIA | 258,078 | 535,648 | |||||||
KENTUCKY | 274,818 | 719,012 | |||||||
ALABAMA | 297,564 | 743,644 | |||||||
MAINE | 303,897 | 655,870 | |||||||
HAWAII | 310,566 | 797,001 | |||||||
IDAHO | 314,532 | 829,268 | |||||||
INDIANA | 316,756 | 804,275 | |||||||
LOUISIANA | 318,393 | 814,386 | |||||||
SOUTH CAROLINA | 318,463 | 761,185 | |||||||
MONTANA | 321,849 | 855,976 | |||||||
VERMONT | 321,969 | 816,579 | |||||||
MISSOURI | 326,839 | 944,804 | |||||||
MICHIGAN | 328,649 | 917,701 | |||||||
ARIZONA | 331,074 | 882,657 | |||||||
IOWA | 331,572 | 788,419 | |||||||
TENNESSEE | 332,913 | 947,021 | |||||||
OKLAHOMA | 333,139 | 932,520 | |||||||
OHIO | 334,979 | 858,965 | |||||||
DELAWARE | 340,770 | 869,461 | |||||||
NEVADA | 341,335 | 1,354,780 | |||||||
NORTH CAROLINA | 343,066 | 902,972 | |||||||
RHODE ISLAND | 346,657 | 928,204 | |||||||
WISCONSIN | 349,905 | 964,358 | |||||||
OREGON | 358,937 | 908,898 | |||||||
NEBRASKA | 363,310 | 945,869 | |||||||
GEORGIA | 371,811 | 995,576 | |||||||
UTAH | 374,467 | 1,057,066 | |||||||
KANSAS | 375,344 | 1,034,676 | |||||||
PENNSYLVANIA | 388,593 | 1,100,962 | |||||||
ALASKA | 400,017 | 910,059 | |||||||
NEW HAMPSHIRE | 405,286 | 1,134,101 | |||||||
WYOMING | 405,596 | 1,900,659 | |||||||
SOUTH DAKOTA | 407,406 | 1,130,048 | |||||||
FLORIDA | 417,587 | 1,543,124 | |||||||
VIRGINIA | 425,144 | 1,109,984 | |||||||
TEXAS | 440,758 | 1,343,897 | |||||||
MINNESOTA | 443,118 | 1,185,581 | |||||||
NORTH DAKOTA | 445,415 | 1,080,845 | |||||||
MARYLAND | 445,783 | 1,135,718 | |||||||
WASHINGTON | 451,395 | 1,383,223 | |||||||
ILLINOIS | 456,377 | 1,412,024 | |||||||
COLORADO | 458,576 | 1,261,053 | |||||||
CALIFORNIA | 514,694 | 1,693,094 | |||||||
NEW YORK | 550,174 | 2,202,480 | |||||||
MASSACHUSETTS | 582,774 | 1,904,805 | |||||||
NEW JERSEY | 588,575 | 1,581,829 | |||||||
DISTRICT OF COLUMBIA | 598,155 | 1,858,878 | |||||||
CONNECTICUT | 700,800 |
08-31-2018 10:36 PM
If you google 1%er, you will find it as a definition of outlaw motorcycle gangs like the Hell's Angels.
08-31-2018 10:41 PM - edited 08-31-2018 10:57 PM
I saw that, @chessylady, when I Google'd the definition for "the 1%".
Interesting, though.
08-31-2018 10:59 PM - edited 10-09-2018 02:59 PM
09-01-2018 10:02 AM
I was watching "Buying Hawaii" last night. The people on that episode were looking for a place that they could set up gardens in..they were saying that by having a garden in Hawaii, one could save and average of $150 per month in groceries...yikes!
09-01-2018 06:45 PM
And...?
Various states are various sizes with various industries which would account for the various salaries.
I don't get the whole point of this thread. Or why the UK/Daily mail is even interested.
09-01-2018 11:04 PM - edited 09-01-2018 11:06 PM
@esmerelda wrote:And...?
Various states are various sizes with various industries which would account for the various salaries.
I don't get the whole point of this thread. Or why the UK/Daily mail is even interested.
Tad confused about the point of this thread as well. Secondly, why the photo of the weird cat?
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