More like, most people tend to say that upper class starts at some level of income, wealth, or spending capability (e.g. full pay expensive college) higher than their own.
In terms of percentage of households by income, $200k is top 9%. $250k is top 5%.
Tax preparers actually get a wide variety of cases.
What is often unseen is non-vested deferred compensation. And yes, even some in their late 20s are getting deferred compensation in hopes that they won’t leave for another employer.
Bonuses come in various forms, but primarily cash & stock or stock options.
OHHHH – publisher – that’s so true. Relative went through law school at UW in the mid 90s; and then it’s gone CRAZY for my relative since then. Relative’s job now will only look at Ivy degrees; but relative got great experience with startups and Amazon at the beginning . . . . being in the right place at the right time is a huge help!
The University of Washington is heavily recruited by the top employers in the Seattle area. For example, even though ranked at about #27 MBA program by US News, UW-Foster MBA grads led the nation in terms of percentage employed within 3 months of graduation.
Intel
Hey, I’ve been living in the State of Washington for the past 20 years! Where is my wealth???
Great question @HiToWaMom.
One has to be proactive, driven, ambitious, intelligent, and hardworking in addition to being at the right place & in the right industry at the right time.
If you live in the Seattle area, you are surrounded by opportunity, but you need to be equipped to take advantage of any of those opportunities.
Proactive, driven, ambitious, intelligent, hardworking, right place, right industry, right time.
Gee, that’s 8 hurdles to overcome! Maybe with those personal qualities and right place and time, it doesn’t have to be Washington State at all to get rich easily…
Well, soon a group of Seattle geniuses will create a time machine. I will hop in it, goes back to when my family moved to Seattle and give “young me” a lecture or two.
Where did this info come from? The OP didn’t offer a link.
This sounds like the myriad articles published every day that I think of as simply click bait.
30 years or so… ditto. ?
If you have been in Seattle for decades your wealth so be in your home in addition to your career earnings.
Ahahahahahaha!!! Hit #3 is a link to this thread!! ? ?
Is there some reason why you didn’t post a link in the OP? That is what most OPs do as a courtesy to the reader, rather than putting the onus on them to find it.
Interesting data, mainly due to the fact that it’s not the usual suspects. A couple of decades ago, high paying jobs were tied to expensive areas ( think Wall street). Now the wealthy work from home often for themselves and many are tied to well paying sectors. I think income and wealth are different, however. Making a lot of $ in an expensive area won’t make you rich. Housing costs, higher general prices and high taxes will often eat up a large part of the high income.
I’m glad to see a diverse group of states.
@Happytimes2001 : I agree. But it is not only the self employed who work from home, many corporate employees work from home because the work is around the globe and many conference calls occur at 3 AM or other early morning or late night hours & employees need to be available 7 days a week & 24 hours a day.
Oh, yes definitely many people work from home. But I have found that many people who are highly paid work from home. Perhaps, they have skills which are in demand so can ask for this or maybe it’s that they tend to be knowledge workers. Of course, there are the highly paid who never get to leave their place of employment ( surgeons) for example.
It would be interesting to know how many of those in the top 5% work from home.
Another interesting note is that Connecticut ranks low at #44 and New York is at #34. I recently read that both states are losing residents–probably due in large part to heavy tax burdens & expensive real estate.
Exactly. Also to understand what methodology was used to derive the list. Otherwise, without an understanding of methodology, it’s not worthy of discussion.
https://■■■■■■■■■■■■■■■■■■/making-money/wealth/places-in-america-where-its-easiest-to-get-rich/
Hopefully this link works !
This linked article is dated January 14, 2020.