4 ms·
> Most people aren't going to spend a year as high level executives. I think you might be over-estimating what it takes to be in the top 5% Here are the numbe
by bhupy 6y ago
> Most people aren't going to spend a year as high level executives.
I think you might be over-estimating what it takes to be in the top 5%
Here are the numbers -> https://dqydj.com/income-percentile-calculator/ https://dqydj.com/income-percentile-calculator/
If you earn $170,000, you're in the top 5%. That's absolutely attainable within 5 years of graduating into a high-skill job.
That's also attainable within one's lifetime if they end up doing any sort of management or decision-making (as opposed to just manual labor all their lives).
- staticman2 6y agoIt's my understanding that 170,000 per year is more than most managers will ever make in most parts of the country. However I can maybe see 170,000 making sense if it's based on household income and a household may have two manager class employees making 90,000 a year. That said i'm still having a hard time believing the claim that a large number of households will have top 5% earnings. I'd love to see a blog post or something along those lines contexualizing that journal article.
- bhupy 6y agoSure thing! I typically like to only link to primary source so as to avoid accusations of bias. Here are some articles that summarize the primary source: https://web.archive.org/web/20160327182251/https://taxfoundation.org/sites/default/files/docs/sr180.pdf https://web.archive.org/web/20160327182251/https://taxfounda... https://www.aei.org/carpe-diem/evidence-shows-significant-income-mobility-in-the-us-73-of-americans-were-in-the-top-20-for-at-least-a-year/ https://www.aei.org/carpe-diem/evidence-shows-significant-in...
- staticman2 6y agoThanks. That first link makes more modest claims than the second one. They also appear to use different methodology (surveys vs tax returns). I appreciate the different links.