When we talk about the one percent, twentysomethings in entry-level jobs are probably the last thing that come to mind. But media company Fusion wanted to take a look at how millennials' incomes compared to one another—and gave us a way to see if we fall in the one percent when it comes to people our age.
Meet the Wealth Gap Calculator, which is based on income data from the Current Population Survey’s March 2014 supplement for all 18- to 34-year-olds in the United States, to show that income inequality exists at every age.
So what does it take to rank amongst the riches millennials? Roughly $129,000 a year. If your jaw just dropped, don’t worry, you’re not alone. Only 720,000 young adults can relate to that yearly income. They earn about double the combined income of the bottom 20 percent, which includes roughly 14 million millennials. However, if you make $60,000 a year, you’re in the top 10 percent.
Who makes up the richest one percent of millennials? Mostly white males. Just 28 percent are women, while 9 percent are Black and 7 percent are Hispanic.
On the opposite end of the spectrum, about 28 million millennials take home less than $10,000 a year and are not enrolled in school.
So where do you fall? Enter your income in the calculator to find out!
