How rich are you? Find out how you compare in an all-UK Rich List

22 July 2011

fiftyHow rich do you think you are, compared with everyone else in the UK? Chances are you consider yourself 'in the middle', but you might think you are particularly high, or low on the list. Well, now you can find out for sure as the Institute for Fiscal Studies (IFS) launches a rich list calculator that gives you a definitive answer.

The calculator asks for details of your income, family and council tax, and gives you your place in the income distribution of the UK. The calculation is per household, so a millionaire's spouse is not considered 'poor' simply because they have no personal income. It also means that larger families need a higher income than smaller ones in order to attain the same standard of living. Naturally those premiership footballers and Russian oligarchs are going to be leading the charge, but what about normal people?

Research conducted for the Joseph Rowntree Foundation has shown that the majority of people in the UK  believe that they are 'in the middle' of the income distribution. Yet in reality many of these people are miles away from the middle. From poorer people in the bottom third of the income distribution, up to people in the top five or ten per cent, many will happily report that they think they're 'in the middle.'

So what is the middle? Well, the income required to make a household fit the median depends on the family circumstances. A couple with no children would need a weekly net income of £420 (e.g. a single-earner couple with an annual salary of just over £30,000 before tax) but a couple with two children would need a weekly net income of about £640 (e.g. a single earner with an annual salary of £45,000 before tax).

In line with official Government's official poverty statistc calculations, if you fall in the bottom 17% of the list, you fall below the poverty line (quantified as 60% of the median income). This would include couples with two children with net incomes of less than £380 per week, and lone parents with two children whose net incomes are less than £300 per week. It would also include pensioner couples with weekly net incomes of less than about £250 per week.

So what are you waiting for? Go find your place in life. The calculator is available online, or as the IFS's first ever iPhone app.

21 comments

  • Darren
    You have a higher income than around 90% of the population. Woop Woop. Does that really mean anything though? So what result did the bitter wallet staff get? "You have a higher income than around 0.5% of the population. You are poor, you must work for bitterwallet."
  • 99thcentile
    Let people enter the figure for gross salary not net. And make them do it yearly. There's too much scope for mistake in entering the same amount of data this depends on.
  • Darren
    @99thcentile, Who cares about Gross Salary? It does not do you any good any of the tax/NI stuff so I would much rather talk in regards to what is in my pocket to spend every month rather than what I should have in my pocket every month.
  • The B.
    Somehow your council tax shifts your postion on the scale, how that works I don't know, I can only assume that their assumption is that if you pay more council tax then your outgoings are higher and therefor you're poorer. I'd also question whether they've included the elderly and children in this because I'm in the 98th percentile then 98% of the country must earning fuck all.
  • Fat D.
    I got 81% so why am I fookin skint.... probably all the money I spend through HUKD
  • Michael
    Surely the North - South divide will play a part in how well off you are in real terms. I live in the south where a 1 bed flat costs £220k, or to rent the same is £850 pcm. Up north I would be paying £350 or so for the same sized place, and £220k would probably buy a decent sized house.
  • kv
    then they sell on your details to people who can spam you to death
  • MrRobin
    "Your income is so high that you lie beyond the far right hand side of the chart" Oh feck off!
  • Tom
    You dont' give over any id info. I am in the 39% and quite well off, but compaired to some people I think we must be poor. Thats with a first year teacher sallery (21.5k,15.5k after tax) my selfemployed pay (~6k) and child benifits (~3k). Council tax muxt determin how much you pay on mortgage.
  • Tom
    Sorry 29%
  • Dick
    If you need to use the calculator to tell you this, then you are lower class scum.
  • not c.
    Does this take into account not having a mortgage or depts - or being able to carry out most of the work - a lot of clueless builders would have to do - no I think not Relative wealth cannot be calcluate as simply as this Some nob once said to me life is a game your bank balance being the score card - I dont fucking think so - hes been declared bankcrupt since then
  • james D.
    Remember you need to put in your after tax salary, you can use listentotaxman.com to figure this out. I put in my pre-tax and I was aparently one of the richest in the country, after tax made a bit more sense.
  • simon d.
    " With a household after tax income of £2087 per week, you are among the richest 1% in the population." Sounds better than it is!
  • klingelton
    apparently I have a higher income that 84% of the population. doesn't feel like that though. all I know is, I feel sorry for those who are much lower on the scale. If i'm struggling with basic costs, i can't imagine what it's like for them.
  • Tom
    What on earth do the readers of bitterwaller do? £2087 is over 180k a year?!?!?
  • Matt H.
    "you are among the richest 1% in the population. Your income is so high that you lie beyond the far right hand side of the chart." hehe, eat that England :)
  • Matt H.
    Just realised it calculates income tax too hehehe, I do not pay any income tax. 100% tax exempt :) so I need to add 50% more on to account for the automatic income tax deduction from the calculator :)
  • Alex W.
    @Matt Hough, you may have a high income but this doesn't give you any immunity from being stupid. The calculator doesn't automatically deduct income tax, as you would be well aware if you were capable of reading simple instructions!
  • shikiraclare
    It is truly great that individuals can and do make exceptional amounts of money, whether in their jobs or via other means possible. I see and recognise in myself, the potential to be 'better-off', yet equally smart enough to know that having sucessful connections; a major contributory factor to those with ample wealth. Celebrities for instance, now earn in the excess of millions, though a vast many undeserving of it, as they do little to generate social ascendance in their own native countries, where some of the poorest thrive and have no means by which to escape the cycle of poverty. I am right at the bottom of the wealth chain, and not at all through lack of immagination or risk avdverse phobia. The reasons are far more complex, and hugely to do with childhood abuse and trauma, where my self-confidence is permanently fractured, regardless of the attempts I have ever made to better myself through University and following the advice guides of Deepak Chopra and other elightened (you can have it all) theorists. The reality for many people in poverty, is the sheer lack of fundamental resources; lack of equal distribution of wealth in a country that is meant to be democratically fair and just. The government as we know, providing vast amount of foreign aid to its allies and non alike, merely slashes the essential need for individual ascendance out of poverty. Those who have inherited their wealth; discovered it through a 'lift up the right ladder' in their career choice - are very much the fortunate ones who, 'yes', have done risk-management etc, yet are not capable or able of relating to anyone outside of this very true, and why even the world of celebrities, donate mainly to foreign causes; occassionally ones that are close to their hearts in their native cities. In addition, there is a current trend of self-absorbtion, I am well aware of the numbers that the UK populace follow this rotten tomato trail. I see people drive their cars (unecessarily) to the local supermarket when they could easily have walked, on a daily basis. My support care worker taking anything up to six holidays in a year, whilst I have not had one in ten years - the rest of the staff employed at the housing project, also taking frequent trips away, whilst taking away the essential monetary funds provided to them, to take residents on an annual trip or two - I am kind of hopping mad about this, yet powerless and moniless to go away at my own expense. I also need a new bed; new sofa, I don't have the spare £1000 to pay for any of it - being stuck on benefits as I am disabled, means that my circumstances are unlikely to change unless I happen to win the lottery sometime soon?. I would be most grateful of anyone wealthy person visiting this site, please have a good read of my response. I am a passionate writer: like to give full-bodied contributions to the things I read, to demonstrate my undertsanding of what author's on these matters, spend vast amounts of their time, typing and cross-referencing their work. And, if there are generous donators out there, with a surplus amount of money they can bare to part to a worthy cause such as myself, then please do not hesitate to my story.
  • kevin
    You work for a living, decent salary, house mortgaged car on credit mobile phone on contract. I don't care how much money you earn in a year you are only one step from being in gutter if you lose your job.

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