The term ‘the 1%’ has been thrust into the public consciousness by the financial crisis – the idea of a few super-rich people crashing the global economy, demanding to be bailed out and then making off like bandits on the subsequent decade of cheap money is quite simply mind-boggling. But what does it really mean to be in the top 1%, and how do you become one? Visit website

It turns out it takes a lot more than just a big salary to make the grade. A large proportion of the wealth of UK’s richest is held in assets rather than income – the so-called “wealth dividend”. And the 1% earn an incredible amount of it.

To qualify for the UK’s top 1% by income you need to earn around PS520,000 a year – that’s over twice the median wage. But that’s only part of the picture – partnership and dividend income accounts for a big chunk of that 1% group’s total earnings, as it is taxed at lower rates than salaries.

Top 1 Percent Income in the UK: How Much Do You Need to Earn

It’s a club that’s often populated by men, middle aged people, living in London and working in finance, law or accountancy. And it’s starting to crack under the strain of rising inequality and a decline in the status of hitherto solidly middle-class professions, such as barristers and doctors. Many who have made it into this elite minority of high earners are increasingly aware that they may not be able to hold on to their positions if the trend continues, and some are already worrying that their children will never climb the ladder as far as they have.