In the United States, the upper middle class is defined as consisting of white-collar professionals who have above-average personal incomes, advanced educational degrees and a high degree of autonomy in their work, leading to higher job satisfaction.

It has assigned the quintiles from lowest to highest as lower class, lower middle class, middle class, upper middle class, and upper class. These definitions equate class with income, permitting people to move from class to class as their income changes.

In a frontier or emerging economy, there are often only two classes—the working class, or poor, and the upper class, or elite.

Pew Research defines middle-income Americans as those whose annual household income is two-thirds to double the national median (adjusted for local cost of living and household size). For high earners, a three-person family needed an income between $106,827 and $373,894 to be considered upper-middle class, Rose says.

How much cash do you need to be considered rich? According to a 2017 survey by Schwab, it takes an average of $2.4 million to be considered wealth in the United States. Of course, that’s the national average — the figure varies widely from city to city and state to state.

To be considered rich in the San Jose, California, metro area, you need to make over $234,948.

Feels Like A Middle-Class Income Psychologically, earning $300,000 feels OK because it puts the household in the top 10% of household income earners. But making $300,000 feels like a middle-class income due to how little cash flow is left. A household needs to earn $470,000+ to be in the top 1% in 2021.

$500,000 a year or higher is a level which I think is considered rich. Anybody who thinks otherwise has no concept of financial reality. Even the government agrees after compromising by raising the income level for when the highest marginal tax bracket kicks in to ~$400,000 from $200,000 back in 2013.

13 jobs that pay over 500k a year

• Film actor. National average salary: $11.66 per hour.
• Author. National average salary: $18.41 per hour.
• Entrepreneur. National average salary: $43,930 per year.
• Lawyer. National average salary: $54,180 per year.
• Accountant. National average salary: $54,881 per year.
• Insurance agent.
• Engineer.
• Investment banker.

You are roughly earning $70k per month which is well above the average annual income of a family in USA. Even after tax its around 50k a month. Hella lot rich! According to this measurer How close are you to the top 1%? – CNNMoney , $450,000 annually is more than enough to put you in the 1% richest persons in the US.

Your yearly salary of $500,000 is then equivalent to an average hourly wage of $250 per hour.

But if you get paid for 2 extra weeks of vacation (at your regular hourly rate), or you actually work for those 2 extra weeks, then your total year now consists of 52 weeks. Assuming 40 hours a week, that equals 2,080 hours in a year. Your hourly wage of 300 dollars would end up being about $624,000 per year in salary.

Here are 14 jobs that often have lucrative advancement opportunities, which can help make you a millionaire when you plan ahead and are successful in your career.

• Professional athlete.
• Investment banker.
• Entrepreneur.
• Lawyer.
• Certified public accountant.
• Insurance agent.
• Engineer.
• Real estate agent.