How much do you need to earn to be in the top 10% income bracket?
According to the 2024 IRS tax return data, the US median income is around $75,000.
Further analyses of Social Security Administration data find that to be in the top 10% of US earners, you need to earn nearly $149,000 annually.
However, there is a huge difference between those in the top half and the bottom half of the top 10% of earners. That is, those in the 10% earn a whole lot less than those in the 1%.
How much do you need to earn to be in the top 5% income bracket?
For those in the top 5%, the figure rises even more.
According to the same research, those in the top 5% earned at least $352,000.
As noted, that’s a considerable leap from the 10% threshold, more than double, in fact.
So, to climb from the top 10% to the top 5% of US earners, you’d need to more than double your annual income.
How much do you need to earn to be in the top 1% income bracket?
To be in the top 1% of earners, you’re looking at an average annual income of almost $749,000.
Additionally, the top 0.1% of Americans earned an average of $3,312,693, according to a 2022 Economic Policy Institute report, the latest available data. Note, too, that data in the following years may be slightly inaccurate due to the pandemic.
According to the same EPI report, annual wages rose fastest for the top 1% of earners (up 9.4%) and the top 0.1% (up 18.5%) in 2021, while those in the bottom 90% saw their real earnings decline by 0.2%.
These stats highlight economic inequity at a national level.
What is the income distribution in the US?
The top earnings brackets vary considerably depending on where you live in the country. This is due to several factors within states, including the cost of living and job opportunities.
The states with the highest earners are clustered on the coasts, and include Connecticut, Massachusetts, California, Washington, New Jersey, and New York.
These states are also home to big towns and cities with more well-paid jobs available. For example, in Connecticut, you’d need to earn at least almost $1.2 million to be in the top 1% of earners.
On the other end of the earning spectrum, earning $435,000 or so puts you in the top 1% in West Virginia.
What are the annual wages of top earners?
Want to know how much you need to earn to be in the top income brackets in the US?
The following table shows the average yearly wages of the highest earners in the country.
These statistics were taken from Social Security Administration data (per the EPI report) and reflect annual wages, as opposed to income as a whole.
| Bracket | Average annual wages |
|---|---|
| Top 0.1% | $3,212,486 |
| Top 1% | $823,763 |
| Top 5% | $342,987 |
| Top 10% | $173,176 |
Those in the higher earnings brackets typically accrue wealth more rapidly than low earners. EPI research shows that between 1979 and 2018, wages of the top 1% grew by 179%. That figure was 389% for the top 0.1%.
In contrast, wages for the bottom 90% only grew 28% in that period.
What is the average salary in the US?
The average salary in the US depends on multiple factors, including location, industry, job position, and age.
Overall, Social Security Administration data shows that the average US salary is $66,622, as of 2023.
Below is a table showing the median annual salary of full-time workers aged 18 and above based on data from the U.S. Bureau of Labor Statistics.
These stats better reflect the salary breakdown as the median describes a salary point that is in the middle of the scale, with half of workers below and half above.
| Age range | Median annual earnings |
|---|---|
| 16-19 | $35,308 |
| 20-24 | $40,768 |
| 25-34 | $59,072 |
| 35-44 | $70,512 |
| 45-54 | $69,472 |
| 55-64 | $65,936 |
| 65 and older | $60,268 |
How many billionaires are there in the US?
According to Forbes’s ranking of the world’s richest people in 2025, there were 3,028 billionaires globally last year, the most ever recorded.
With 902 billionaires, the USA has more than any other country. Billionaires from the USA make up eight of the world’s top ten richest people. China and Hong Kong were in second place with 516 billionaires, followed by India with 205.
The list showed Elon Musk as the richest person in the world, with a net worth of roughly $342 billion at the time of calculation. Mark Zuckerberg was second with $216 billion, followed by Jeff Bezos at $215 billion.
How many top earners are in the US vs. worldwide?
No matter how you define “top earners,” the US does have the lion’s share of them.
According to 2023 analysis by Zippia, the average global personal income was just over $9,700 per year. Given that the average income in the US is more than $66,000 annually, American earners are far and away above the global average.
That said, countries like Monaco, Bermuda, Switzerland, and Luxembourg tend to top the list of countries with top-earners. That’s due to their small, wealthy populations.
How can you boost your income to join the top 10%?
Growing your earnings to join those in the top income brackets might seem like a remote possibility, but it doesn’t have to be.
Annual income isn’t just limited to your salary alone. With help from the right financial advisor, you can make strategic investments in stocks, shares, and funds to ensure your wages go further. If you’ve never invested before, have a look at our guide to getting started.
Or, if you’ve already got an investment portfolio and need a little help fine-tuning it to boost your income, we’ve put together some advice on choosing a financial advisor.
Learn more: Who are the best financial advisor firms in the US?
Speak to a financial advisor
If you’re already earning a salary that puts you within the top percentage brackets nationally, you may be looking for ways to safeguard and maximize your wealth.
A financial advisor can also help you manage your wealth and assets more effectively, so you can increase your earnings year-on-year. You’ll also get tax advice, tips for retirement planning, and suggestions for saving money.
They can also offer advice on the best types of health and long-term care insurance you might need, so you can be confident that your income doesn’t take an unexpected hit in the event of health problems.
You can also get tips on life insurance and inheritance tax to make the best possible plan for providing for your loved ones.
Ready to get started and find a financial advisor who can help you maximize your earnings and get closer to those top income brackets? We can match you with a financial advisor today.
Alternatively, you can explore the best financial advisers near you.