Most people have a desire to make as much money as they possibly can to not just take care of themselves and their families but also to have bragging rights as one of the richest people alive or to ever live. I can’t lie, it’s nice motivation to have in life and money does make life easier and happier but is not the end all be all since we don’t get to take it with us after life. Nonetheless, most of us are competing for the best paying jobs for different reasons.
There are some places around the country and world that pay better than others based upon several different factors but there are 1% earners all over the world. These are the wildly successful people that make more money than they know what to do with. Now, the cool thing about statistics is that you can always place filters and restrictions on the data to find different trends and results. When you change the parameters of distance to just the state of Michigan you might be surprised at what the salary of the state’s top 1% earners really is.
Every state is different as they all have different laws, cost of living, insurance rates, and other factors that can manipulate the salary that employers feel is fair for each position in each state. The type of job, demand, and location all play a factor in the salary that you earn which is why you could see two people with the exact same job at the same company in two different states have different salaries.
Sorry to break it to you, but Michigan is not one of the richest states in the country, those honors belong to states like California, Massachusetts, Connecticut, Washington, and New Jersey. Meanwhile, Michigan doesn’t find itself amongst the poorest states either as that would be states like Mississippi, New Mexico, West Virginia, Kentucky, and Oklahoma.
Michigan is amongst the middle of the pack when it comes to the highest earners across the country. This doesn’t mean that there aren’t some rich people in the state because there are but overall to be in the top 1% you don’t need to make that much money. In fact, you only need to make $625,158 to be amongst the highest earners within the Mitten state.
Are you in the top 1%? Do you know anyone who is in the top 1% of earners in Michigan?
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LOOK: Average salary needed to get by in every U.S. state
So how much higher or lower is your state to the national average, and which states are the top 10 most and least affordable overall? Let’s find out.
Gallery Credit: Mike Brant
Source: Michigan Making Money: Salaries Of The State’s Top 1% Earners
