Do you consider yourself ‘rich’, ‘poor’ or somewhere in between?

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Have you ever stopped to think how much someone has to earn to be considered rich or poor by other people? In your own opinion, how much do you think a person in the UK should be earning to be classed as ‘rich’ or ‘poor’? There are numerous factors to consider, such as location, job type and level of experience; however, the average salary in the UK currently stands at £30,609 for men, and £24,925 for women, according to Monster.com.

We conducted a Google Consumer Survey in May 2016 asking the following two questions:

  • How much do you personally think someone in the UK has to earn annually to be considered ‘rich’?
  • How little do you personally think someone in the UK has to earn annually to be considered ‘poor’?

Unsurprisingly, most of our respondents considered £150,000+ to be the annual earnings of a ‘rich’ person in the UK. However, 13% of respondents personally thought that a person in the UK should earn between £30,000 and £60,000 to be considered ‘rich’. Given that the average salary for men in the UK is £30,609, this means that the average male worker in the UK is often viewed as ‘rich’ by others.

For 15% of our respondents, those earning less than £25,000 a year in the UK are ‘poor’. However, when considering that £24,925 is the average salary for women in the UK, this would equate to 15% of our respondents believing that the average working woman in the UK is not financially comfortable.

Interestingly, a staggering 66% of people who completed our survey believe that someone must earn more than £90,000 a year to be considered ‘rich’. However, research undertaken by Tax Research UK in 2015 found that having an income of more than £49,200 in the UK puts a person in the top 10% of those making a taxable income. Does this mean more people in the UK are richer than we think? Or are our perceptions of a high income weighted by where we live?

When asked “How much do you personally think someone in the UK has to earn annually to be considered ‘rich’?” the results were as follows:

Also, when asked “How little do you personally think someone in the UK has to earn annually to be considered ‘poor’?” the results were as follows:

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Disclaimer: The information in the article has been sourced from Monster.com, and is accurate as of 28 May 2016. The content of this blog is for information purposes only; we do not accept any liability for the information published on these websites.