Are you among the wealthiest people in France?
Many French people wonder how much they need to earn each month to be considered well-off. Thanks to a recent study by the Observatory of Inequalities, we now have a clearer picture.
According to the association, a person is considered well-off if they earn at least 3,860 euros net per month after taxes, which is about three times the minimum wage. This group accounts for 7% of the French population.
The amount varies depending on family situation
This income of 3,860 euros includes salary, social benefits, income from assets, and income from financial investments. However, this amount applies to a person living alone. For a couple with or without children, the amounts are different. A single person with one child must earn at least 5,018 euros net per month to be considered well-off. For a couple without children, the amount rises to 5,790 euros net per month. And a couple with a 14-year-old child must earn 6,948 euros per month to be considered well-off. For a couple with three children, one of whom is under 14, they must earn at least 10,808 euros per month.
How is this income calculated?
According to Louis Maurin, director of the Observatory of Inequalities, the wealth threshold was set at twice the median standard of living. This calculation method was developed in collaboration with the French Observatory of Economic Conditions (OFCE). However, regional disparities were not taken into account in this calculation. For example, real estate costs can vary considerably from one region to another. Furthermore, assets were not factored into the calculation either. Yet whether or not one pays rent can have a significant impact on one’s standard of living.
One in two French people earns less than 2,000 euros per month
Furthermore, the middle class—which accounts for three out of four French people—is made up of people who earn between 1,500 and 3,860 euros per month. And one in two French people earns less than 2,000 euros per month. If you earn 2,500 euros after taxes, then your income is higher than that of 65% of the French population.
