What do people consider to be a 'high income earner'?

Hi all,

I often see posts by members that share feedback or make mention something may only apply to a 'high income earner'. My question is, what do people consider this number to be, or that to be above? For consistency, numbers to be representative of individual earnings, not dual income.

Looking forward to hearing your guys thoughts.

Thanks,

 

It's different for everybody but I'd assume a high income would be at least one quartile above the median income. For e.g. if the median income in Sydney is $70 000 and at least one quartile above is an income of $100 000, that would be "high income".

(personally for me, if you're netting $10 000 per month after tax + all non-lifestyle expenses, then you're "high income")

 

I have clients that are earning $300,000 on a salary plus bonus $500,000 in commissions for chasing debt. Guess what field

I have never been a believer in retiring from a J.o.b - this means give up your income.

 

A gross income where some of the income is taxed at the highest marginal rate, $180,000+

 

I guess anything above $200k PAYG I'd consider "high". But really, beyond this it's a mugs game given the near 50% tax haircut. Ideally you want to be taking franked divs and punching them out to a company for tax effective compounding, and you need ownership for that.

 

I was thinking that is how most people would be viewing the term, that is, a certain percentage above the median income. Appreciate the input.

 

Whatever field it is, I obviously picked the wrong one to be in

 

Love your avatar

 

Thanks for the input. What kind of industries/jobs would be offering a PAYG income of around 200k/year?

 

I need to thank @austing for that

 

I love Dastardly Dash...hehe

 

Heaps. Very hard to answer. All of my close mates from school are now late 30s and are doing 200k+

Roles ; Executive management level at Telstra, Infrastructure Finance at Commbank, Digital Strategy at another Telco, a Senior Civil Engineer, founder of a Travel company...and me.

 

Anyone with specific industry knowledge or experience in a field which is in demand.

 

Dentists, Sonographer, IT Contractors and many more.

Even a acupuncturist who runs her own practice (charging $120 per session - which last 30 minutes) can easily earn 200K per year.

 

Some of my colleagues are on over 200k a year driving coal trains in the Hunter Valley.

 

Looking at income alone is meaningless - it has no context. You need to look at what a particular income gets you in a specific setting. If you live somewhere with a relatively low cost of living then the threshold for "high income" would be lower than what it would be living in an expensive city.

 

Apparently the average wage is around 70k or thereabouts?

So, based on that - most folks would probably think 100k per year would be a high income earner.

 

Thanks for the examples. I myself earn well over 200k, but that is from a senior engineer salary and a personal business income. Great to just have some more insight on what sort of opportunities are out there, especially with the engineering as you made mention to.

 

Great examples. Thank you. I know a few people in those industries, however, salaries are not anywhere near the 200k mark. I am only 25 though, so without senior experience, i imagine that's why their salaries are what they are. Self employed is an entirely different game. Can make over 200k in any business industry. No argument there

 

what is your personal business @BB91 ?