this post was submitted on 20 Aug 2023
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Today I Learned

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[–] [email protected] 6 points 1 year ago (1 children)

Upper middle class is the top 10%...So yea, 9 out of 10 people aren't doing so great.

[–] [email protected] 4 points 1 year ago* (last edited 1 year ago) (1 children)

Low end of Middle class, 50%, is still making a good college degreed salary (masters equivalent) in Europe. Middle end is making as much as a PhD in a tech company equivalent here.

https://www.pewresearch.org/short-reads/2022/04/20/how-the-american-middle-class-has-changed-in-the-past-five-decades/

So 1 in 2 have 6 years of college equivalent income and are making more than most Europeans, and 1 in 10 are comparably rich.

Comparably a good PhD (I. E. Employable) in America can pull 120-150k relatively easily, and 200k after a few years. Making as much as 3 times the European with the same education and experience.

E: European college costs are much lower though so it somewhat depends on how much debt you have to take too.

[–] [email protected] 0 points 1 year ago (1 children)

You're reading that article completely wrong...the numbers you posted are medians for upper income earners. The median US worker does not have 6 years of higher ed. I think only 20-30% even have a bachelor's.

The median income in the US is 50k as of 2022. The 90th percentile is 120k-130k.

Those are disgustingly low for not having universal health or any social safety net like the rest of the industrialized world.

[–] [email protected] 3 points 1 year ago* (last edited 1 year ago)

50k is more than most Europeans make with 3-6 years of education.... That's my point.

It is low, but the take home in Europe is even lower like 25-30k, 60k before taxes with years of education, and you're still paying €300 each month for public health insurance which takes up 5-10% of your income.

Some of my coworkers with PHDs and post docs and 5-10 years are only pulling 90k before taxes. An electric bike for example still costs €3-4k, and they have to pay for registration and insurance on it.