Saturday, February 24, 2024

This is what you need to earn to become an upper-middle-class, or global upper-class

Written in ECONOMY on 2/7/2024 · 8:46 pm

Thanks to the measurements made by bodies such as the National Institute of Statistics and Geography (Inegi), with indicators such as economic deciles, people will know if they belong to low, middle or upper class based on their income, but what happens on a global level? The Pew Research Center determines when people must earn to fall into one of those strata.

she Pew Research Center is an independent data organization with public information about global trends. In 2020, it conducted an assessment of the income of people around the world and considered that Only 17 percent of the world’s people can be considered middle classbecause they earn between 10 and 20 dollars a day on average, that is, from 170 to 340 pesos (at the current exchange rate).

How much do you need to be part of the global upper middle class?

First of all, according to Pew Research Center calculator, a person who earns 10 thousand pesos per month in a household with four people belongs to the low-income group; On the other hand, if a woman or man earns 20 thousand pesos per month and lives in a house with four people, that income is equivalent to a high class person.

These changes completely to deer, because according to data from the same source, a person who earns 1,175 dollars a month (about 20 thousand pesos) in a household with four people has a low income; Middle class individuals in the ‘neighboring country to the north’ earn at least 5 thousand dollars… about 85 thousand pesos per month!

In the case of United Kingdom, people who earn 3 thousand pounds per month, that is, 65 thousand 610 pesos at the current exchange rate can be considered middle class. While in the case of Japanindividuals must receive at least 500 thousand yen per month, about 55 thousand pesos at the current exchange rate according to Banxico.

All over the world, and on average, people earn an average of $20 a day; Between 20 and 50 dollars a month is classified as a medium-high income, that is, up to 850 pesos per day (according to the current exchange rate).

How much do you need to be world class?

Generally, People who earn more than 50 dollars per day (850 pesos or more) are considered upper class or high income, according to the Pew Research Center stations. If monthly salary is considered, in a house with four people, 80 thousand pesos per month is considered a high-income person.

Of the estimates made by deerAccording to the same source, a household with four people who receive 8 thousand dollars per month (about 136 thousand pesos) can be classified as upper class. In the United Kingdom, the salary should be 6 thousand pounds per month (just over 126 thousand pesos).

And in the case of Japan, according to the calculator, a household with four people can be considered high-income if they earn 750,000 yen per month (about 82,500 pesos). It is important to specify that these numbers to determine whether people are upper-middle, upper-middle or upper class are an estimate, based on data from the Pew Research Center in 2020.

World Nation News Desk
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