Talk:Six figure income

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[edit] Six figure income; a status symbol?

Is a 6 figure income still seen as a great status symbol? 100,000 Canadian dollars is only £48,000, and even 100,000 US Dollars is just £54,300. By way of comparison, 3 years ago the average income in London was £46,288 (http://news.bbc.co.uk/1/hi/programmes/inside_money/3132575.stm), with wage inflation of 4% that's £52,000 today (2006). Perhaps it's time to rename this entry to Seven Figure Income? Markb 10:00, 13 July 2006 (UTC)

US dollars a six fgiure salary is still a status symbol. Only 15% of households have incomes exceeding $100k, and that's households with a mean of two income earners! Only few Americans earned six figure salaries by themselves. Please try not to convert currencies, a millionaire in the US, measured in USD wouldn't be millionaire in Great Brtian, measured in Pounds, either and I doubt that London's population is that wealthy. For instance, the median household income of Beverly Hills is $75,000 a year, less than that of the city of London- the entire city? I do understand your point, but six figure incomes, espcially individual incomes, are still relatively rare at least according to 2005 Census data gathered US-wide (See the tables in the Household income in the United States article). FYI: If you have time for a pet project relating to status symbols look at the status symbol article, which truly is a mess. -and thanks for the interseting BBC published data. Signature^brendel 14:55, 13 July 2006 (UTC)

I've given you a reference about the average household income in London, and it exceeds the £40,800 you quote for Beverly hills. Why shouldn't I convert currencies - more people, for example are paid in euros than in US dollars. Markb 06:56, 14 July 2006 (UTC)

Becuase even though a Euro may be currently 30% worth more than a dollar, in a month it might only be 10% more than a dollar. So does a Euro actually loose pucharsing power inside Europe? In other words, the currency exchange rate does not always despict the actual domestic buying power- do 75USD in BV really buy less there than 46k Pounds do in London? BTW: I don't doubt that London is very wealthy, as far as big cities go, but I doubt that London's average income is higher than that of nearly 85% of all American households- nearly double the American median household income! Signature^brendel 03:42, 15 July 2006 (UTC)

The latest government statistics (http://www.statistics.gov.uk/cci/nugget.asp?id=285), give an average London wage of £29,000 - so for a two-worker household that's £58,000 per annum. Given the continual rise in house-prices, and that most mortgage companies lend up to three times joint-income, I'm not surprised. I take your point about the 'worth' of money in different countries & that 10 Euro will probably buy more in the USA than in Europe. As to Londoners earning more than 85% of the US, I don't see why this should be so surprising , London is an exceptional place within in Europe, let alone the UK. Given the above, maybe a six-figure income is still considered notable in the US, but the sterling equivalent in the UK is not. Markb 11:02, 15 July 2006 (UTC)

Yes, that is indeed very plausable, a six-figure income may be more of a status symbol in the US while "the sterling equivalent in the UK is not." Often status symbols also change from place to place. A salary of $80k might be a status symbol in Witchita, Kansas whereas it would certaintly not be one in say, Manhattan or London for that matter. Signature^brendel 18:17, 15 July 2006 (UTC)

I should also mention that most household in the US that have six-figure incomes, only have them because they also have two income earners. Best Regards, Signature^brendelNow under review! 21:00, 2 November 2006 (UTC)