How Much Money Do You Need to Make to Be in the Top 1% of Your Age Group?

According to the Social Security Administration, the national average wage index for 2013 was $44,888.16, but how much do you need to make to be in the top 1%?

Well Faith Guvenen, Greg Kaplan, and Jae Song researched and put together a paper on this topic, which they then shared with the Atlantic who put together the charts below.

So how much do you need to make to be in the top 1% (and top .1%) of your age group?

Well as you age, the number you need to make grows to stay at the top grows until you reach the 52-58 group, we’re assuming by the time you reach your 50s you have either capped your earning potential or slowed down due to being older age.

• If you’re 27-31, you need to make $135,600 to be in the top 1% and $303,100 to be in the top .1%
• If you’re 32-36, you need to make $211,600 to be in the top 1% and $558,400 to be in the top .1%
• If you’re 37-41, you need to make $284,600 to be in the top 1% and $835,600 to be in the top .1%
• If you’re 42-46, you need to make $327,500 to be in the top 1% and $1,062,000 to be in the top .1%
• If you’re 47-51, you need to make $345,800 to be in the top 1% and $1,184,500 to be in the top .1%
• If you’re 52-28, you need to make $341,800 to be in the top 1% and $1,153,400 to be in the top .1%

 

The charts above show the amount you would have earned throughout the years to make either the top 1% or the top 1% of the income group in your age bracket, and it appears for the 1% range it has gone up over the years and slowly leveled out, and it seems like the top .1% is leveling out as well.