At what monthly income is a person considered rich in France?

How do you know if you are rich? In its latest report, the Inequality Observatory answered this question by listing the criteria for a person to belong to the richest French group. Everything depends on the income of each person.

According to the organization, which has been calculating the poverty threshold and wealth threshold of the French for ten years, a person can be considered rich in France from the moment he earns at least 3,860 net euros per month after taxes. This amount is almost three times the minimum wage and covers just over 7% of the country’s population.

“This amount takes into account all income declared by this person after deducting income tax. This includes, among others, her salary, the social benefits she receives, the income from her property, such as rental income, as well as the income from her financial investments,” explains Louis Morin, director of the Inequality Observatory, to Le Figaro newspaper.

A single person living with a child must earn 5,018 euros net per month to study in the same class. To be considered rich, a couple without children must pay up to €5,790 net per month. Once a child under 14 years of age is included in the calculation, the accumulation of two incomes should reach 6,948 euros per month. For a couple with three children, including one under 14 years of age, the monthly income must be 10,808 euros.

Regional differences are not taken into account

To arrive at these figures, the observatory, working in collaboration with the French Observatory of Economic Conditions (OFCE), relied on the median standard of living. “Because we believe that the poverty threshold is set at half the median standard of living, we decided to set the wealth threshold at twice the median standard of living,” explains Louis Morin.

On the other hand, the Inequality Observatory did not take into account regional differences in its calculations, which can nonetheless be significant from one area to another, particularly due to real estate. “As a precaution, we do not want to relate the wealth threshold to the cost of housing, because we do not know whether the latter are suffering or choosing,” emphasizes the director of the Inequality Observatory.