Who Are the Top 1% Income Earners?

Understanding who the top 1% income earners are can provide insights into the financial dynamics of different professions and industries. This blog post delves into various occupations that make up the top 1% and offers recommendations for building wealth, tracking finances, and investing wisely.

By definition, 99% of people do not make a top 1% income. Therefore, there can be a lot of envious people if you show off your wealth too much.

However, once you make top one percent money, you can more easily accumulate top one percent wealth, which is what really matters.

As of 2024, a top 1% overall income is at least $650,000. Back in 2015, a top 1% overall income was only $380,000! Talk about inflation and economic growth.

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Who Are the Top 1% Income Earners?

The top 1% income earners are individuals whose income places them in the highest one percent of earners in a given country.

In the United States, this typically means having an annual income exceeding approximately $540,000. These high earners come from a diverse array of professions, including corporate executives, entrepreneurs, professionals in finance and law, and more.

How Many Billionaires Are There?

Annual Wages of Top 1% Income Earners

The data from the Economic Policy Institute (EPI) shows that in 2021 annual wages for the top 1% reached $819,324, which was up 9.4% compared to 2020.

How much do you need to earn to be in the top 0.1%? A hefty $3,312,693, which is 18.5% more than that group earned a year before. Wages for the bottom 90% dropped by 0.2% over the same period, with an average income of $36,571

Historically, the rich have become richer faster than the rest of the population. EPI research has found that from 1979 to 2021, the top 1% saw their wages grow by 206.3% and the top 0.1% by more than twice as much⁠—465.1%.

Wages for the bottom 90% only grew 28.7% in the same time period.

What Is the Average Wealth for Americans and The Top 1 Percent?

The table below provides data on wealth from the Federal Reserve, including FRED data from the St. Louis Fed indicating there were 131.4 million American households as of 2023.

• As of the second quarter 2023, the average American household had wealth of $1.09 million.
• The average wealth of households in the top 1 percent was about $33.4 million.
• In the top 0.1 percent, the average household had wealth of more than $1.52 billion.

Category	Total cohort wealth (share)	Wealth per household
Note: Figures do not add up to 100 percent due to rounding. Sources: Households data from FRED; wealth data from the Federal Reserve, with figures as of Q2 2023
Average wealth	$143.72 trillion (100 percent)	$1.09 million
Average wealth of bottom 50 percent	$3.68 trillion (2.6 percent)	$55,998
Average wealth of 50th – 90th percentile	$44.09 trillion (30.7 percent)	$838,634
Average wealth of 90th – 99th percentile	$52 trillion (36.2 percent)	$4,395,954
Average wealth of 99th – 99.9th percentile	$23.9 trillion (16.6 percent)	$18,367,709
Average wealth of top 0.1 percent	$20.05 trillion (14.0 percent)	$1,525,480,46

The key figures here are not only the average wealth per household but also the share held by each, especially at the top.

For example, the top 1 percent of households hold 30.6 percent of the total wealth, according to the Federal Reserve. But just the top 0.1 percent own 14 percent of the total wealth, giving them a stunning average of more than $1.52 billion per household.

Similarly, while average wealth per household is more than $1 million, the number is skewed much higher because of the vast wealth at one end of the wealth distribution.

Top 1% Income Earners From All Occupations

The top 1% income earners span across various fields. While some professions are well-known for their lucrative salaries, others might surprise you. Let’s explore some of these occupations.

The below highlights top 1% income earners from various occupations. Some are more obvious, such as medicine and banking.

However, you’ll be surprised by how many other industries pay top 1% income. The key to being a top 1% income earner is really about performance and longevity. The top producers over the longest period of time tend to get paid the most.

1. Publishers/Bloggers Who Are the Top 1% Income Earners?

Successful publishers and bloggers can earn substantial incomes, particularly if they have a large following or niche audience. Advertising revenue, sponsored content, and affiliate marketing can generate significant income, especially for those who manage to build a strong personal brand.

The rise of digital media has created new opportunities for income generation. Successful publishers and bloggers who have managed to build large audiences can earn substantial incomes through advertising, sponsorships, and product sales.

Platforms like YouTube, Instagram, and personal blogs offer avenues for content creators to monetize their work, and those who excel in this space can easily find themselves in the top 1% income bracket.

2. Public Company Executives

Executives of publicly traded companies, including CEOs, CFOs, and other top executives, are often among the top 1% income earners. Their compensation packages typically include substantial salaries, bonuses, stock options, and other incentives, which can total in the millions.

Public company executives, particularly CEOs, CFOs, and other high-ranking officials, are often among the highest earners. These individuals are responsible for steering large corporations and making decisions that can impact thousands of employees and shareholders.

Their compensation packages typically include high base salaries, bonuses, stock options, and other incentives, reflecting the significant impact of their roles on company performance.

3. Entertainment Media Who Are the Top 1% Income Earners?

The entertainment industry is another sector where high earnings are common. Actors, directors, producers, and musicians who achieve success in their fields can command significant salaries and royalties.

The global reach and profitability of the entertainment industry ensure that top performers and creators are well-compensated for their contributions.

Individuals in the entertainment media industry, including actors, directors, producers, and musicians, can also earn incomes that place them in the top 1%. Box office hits, album sales, streaming royalties, and endorsement deals contribute to their substantial incomes.

4. Public School Administrators

Public school administrators, especially those in large districts or those with significant administrative responsibilities, can earn salaries that place them in the top 1%.

Superintendents of large urban districts, for example, often earn six-figure salaries, and with experience and tenure, these earnings can increase significantly.

5. TV Journalism Who Are the Top 1% Income Earners?

Top TV journalists, particularly those working for major networks, can earn salaries that place them in the top 1%. High-profile anchors and correspondents often negotiate lucrative contracts, reflecting their influence and the revenue they generate for their networks.

Top-tier TV journalists, especially those working for major networks, can command high salaries.

News anchors, correspondents, and hosts of popular shows often earn six-figure salaries, with the potential for additional income from book deals, speaking engagements, and other media appearances.

The visibility and influence of these roles contribute to their high earning potential.

6. Heads of Private Grade Schools

Heads of prestigious private grade schools can also be among the top 1% income earners. These individuals oversee the operations of elite institutions that often charge high tuition fees.

Their roles require exceptional leadership, management skills, and a deep understanding of education. The compensation for these positions reflects the high stakes and expectations associated with maintaining the standards and reputation of such schools.

7. Internet Start-Up Founders

Founders of successful internet start-ups can quickly find themselves among the top 1% income earners. When these start-ups go public or are acquired by larger companies, the founders often receive significant payouts, resulting in substantial wealth accumulation.

The tech industry, in particular, has seen numerous individuals rise to the top 1% income bracket through the success of their companies.

These entrepreneurs often start with innovative ideas that disrupt existing markets, leading to rapid growth and substantial financial rewards. The potential for initial public offerings (IPOs) and acquisitions further enhances their earning potential.

8. Professional Sports

Athletes in professional sports, particularly those in top leagues like the NFL, NBA, MLB, and NHL, can earn incomes that place them in the top 1%. Endorsement deals, sponsorships, and performance bonuses further enhance their earnings.

Their earnings reflect their talent, marketability, and the revenue-generating power of professional sports. Additionally, coaches and team executives can also earn substantial incomes, contributing to the overall representation of sports professionals in the top 1%.

9. Politicians Who Are the Top 1% Income Earners?

Politicians, particularly those in higher offices, can also find themselves among the top 1% income earners.

Senators, representatives, governors, and mayors of major cities often earn significant salaries. Additionally, politicians may have access to other income streams, such as book deals, speaking engagements, and investments.

While their base salaries are not always as high as those in the private sector, the total compensation package, including benefits and allowances, can be substantial.

Top 1% Income Earners Are Everywhere

The top 1% income earners are not confined to any single industry or profession.

They can be found in various fields, from academia and medicine to technology and entertainment. Their common denominator is the ability to leverage their skills, expertise, and opportunities to generate substantial income.

Making over $650,000 a year to be a top 1% income earner is no easy feat. However, even during a global pandemic, there are plenty of top 1% income earners who are cleaning up.

They have worked hard to get to where they are. Many of them employ thousands of the rest of us 99%. Many of them entertain us with their movies, or their witty morning banter. Some of us even fix our broken bones or mend our melancholy hearts.

Even more top 1% income earners donate a significant amount to charity. We should probably say “thank you” to the top 1% instead of eviscerating.

Do you want to be in the top 1%? It will take a lot of hard work and creativity that’s for sure. One good step is to try and make a top 1% income by age. This way, you’ll have good income goals to shoot for along the way to $650,000+

Top 1% Income To Top 1% Net Worth

While high income is a significant factor in building wealth, converting that income into net worth requires smart financial management.

The top 1% income earners often invest their earnings in assets that appreciate over time, such as real estate, stocks, and private businesses. They understand the importance of diversification and long-term planning.

The top 1% are no different from you and me. They are the kid raising her hand in the front of the class. The top 1% is the scrawny 8th grader who plays JV baseball, but never varsity.

The top 1% join you in causes and vote along side of you. They still have to wait in line at the security check-in and sit in middle seats. The top 1% die from cancer and eat more than they should. The top 1% have loved ones.

Recommendations To Build Wealth

Building wealth and achieving financial success involves strategic planning and disciplined execution. Here are some key recommendations:

a). Track Your Finances Like a Hawk

Keeping a close eye on your finances is crucial for building wealth. This includes budgeting, tracking expenses, and regularly reviewing your financial goals. Utilize financial management tools and apps to stay organized and make informed decisions.

b). Invest in Real Estate

Real estate is a proven wealth-building asset. Investing in properties can generate rental income and appreciate over time. Consider different types of real estate investments, such as residential, commercial, and REITs (Real Estate Investment Trusts), to diversify your portfolio.

c). Invest in Private Growth Companies

Investing in private growth companies can offer substantial returns. Look for start-ups and small businesses with high growth potential. While this type of investment carries risk, the rewards can be significant if you choose wisely and diversify your investments.

d). Diversify Your Investments

Diversification is key to mitigating risk and ensuring long-term financial growth. Spread your investments across different asset classes, such as stocks, bonds, real estate, and private equity. This approach helps balance potential losses in one area with gains in another.

e). Seek Professional Financial Advice

Consulting with financial advisors can provide valuable insights and guidance tailored to your financial goals. Advisors can help you develop a comprehensive financial plan, manage your investments, and navigate complex financial decisions.

f). Focus on Long-Term Goals

Building wealth is a long-term endeavor. Focus on your long-term financial goals and avoid making impulsive decisions based on short-term market fluctuations. Patience and consistency are crucial for achieving lasting financial success.

g). Stay Informed and Educated

Stay informed about financial trends, investment opportunities, and economic developments. Continuously educate yourself on personal finance and investment strategies. Knowledge is a powerful tool for making informed financial decisions.

Don’t Confuse High Earners With The Wealthy

You can measure whether you’re in the top 1 percent in two major ways: income and wealth. Income is the amount of money you earn annually, while wealth is the amount of assets you own.

While these categories are often correlated with each other, they aren’t the same. That is, high earners often hold a lot of assets, but they don’t necessarily have to if they spend a lot.

For example, the wealthy may have relatively low incomes, say, if much of their wealth is tied up in an illiquid asset such as a house or even an illiquid or non-dividend-paying stock.

While they may have a high net worth, they’re unable to generate income from the illiquid asset and therefore must continue with relatively low income if they intend to continue owning that asset.

Similarly, high earners generate a lot of money each year but need not be wealthy. Those who spend all of their earnings may not be building any wealth if their money doesn’t go into assets.

Those looking to build wealth over time may want to work with a financial advisor or wealth manager to help them find smart strategies to turn income into wealth.

Conclusion on Top 1% Income Earners?

The top 1% income earners come from diverse backgrounds and industries, each with unique pathways to financial success.

Understanding the various occupations that contribute to this elite group provides insights into the opportunities available for high earnings.

Additionally, transitioning from top 1% income to top 1% net worth requires strategic financial management and investment.

By tracking finances meticulously, investing in real estate, and exploring opportunities in private growth companies, individuals can enhance their financial prospects and work towards achieving long-term wealth.

Aspiring to join the top 1% is a journey that involves dedication, strategic planning, and informed decision-making.

By learning from the experiences and strategies of current top earners, individuals can chart their paths to financial success and secure their place among the elite income earners and wealth holders.