This is the salary required in California to rank in the top 1%
According to a recent Go Banking Rates study, the income need to join the 1% actually varies depending on where you reside. Not unexpectedly, the starting income level in California is more than $1 million.
The finance website’s researchers set out to determine the minimum income required in each state for an individual to be considered a top earner. Connecticut, which is the hub of affluent hedge funds and a variety of financial services, has the highest income barrier, at almost $1.2 million.
The remaining two states in the top three were Massachusetts and California, where the 1% earned over $1.1 million and $1 million, respectively.
To be included in the 1%, inhabitants of five states—Connecticut, Massachusetts, California, Washington, and New Jersey—must earn more than $1 million.
Conversely, West Virginia had the lowest income threshold, requiring its citizens to earn $435,302 in order to qualify as 1% earners.
The income limits for each state are shown below in alphabetical order:
- Alabama: $577,017
- Alaska: $642,707
- Arizona: $713,264
- Arkansas: $550,469
- California: $1,072,248
- Colorado: $896,273
- Connecticut: $1,192,947
- Delaware: $640,330
- Florida: $882,302
- Georgia: $725,284
- Hawaii: $631,383
- Idaho: $728,859
- Illinois: $811,004
- Indiana: $572,403
- Iowa: $591,921
- Kansas: $674,225
- Kentucky: $532,013
- Louisiana: $608,143
- Maine: $609,173
- Maryland: $767,688
- Massachusetts: $1,152,992
- Michigan: $625,158
- Minnesota: $755,880
- Mississippi: $456,309
- Missouri: $610,837
- Montana: $741,182
- Nebraska: $651,641
- Nevada: $804,627
- New Hampshire: $839,742
- New Jersey: $1,010,101
- New Mexico: $493,013
- New York: $999,747
- North Carolina: $688,506
- North Dakota: $708,284
- Ohio: $601,685
- Oklahoma: $559,981
- Oregon: $707,296
- Pennsylvania: $720,778
- Rhode Island: $673,902
- South Carolina: $632,805
- South Dakota: $752,849
- Tennessee: $702,934
- Texas: $789,003
- Utah: $811,929
- Vermont: $645,255
- Virginia: $787,471
- Washington: $1,024,599
- Washington, D.C.: $1,250,029
- West Virginia: $435,302
- Wisconsin: $631,993
- Wyoming: $872,896
The study in its entirety is available here.