Originally posted by wendigo100
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£432,000 to feel rich in London
it's a lorra wonga!
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A family of four needs a pre-tax income of approaching half a million pounds a year to feel rich in London, according to a Financial Times survey.
At the end of a year in which the tax privileges of private equity titans and “non doms” have attracted political ire, a Harris poll for the FT shows Britons think a typical family needs to earn £432,000 – more than 18 times the national average wage of £23,800 – to fund a wealthy lifestyle.
Even many company directors would fall short of that income bracket. A report by the GMB general union this month said chief executives and directors of large organisations earned an average of £214,000 annually.
The average figures appear to reflect both the high cost of living in London and the extent to which the growing ranks of the super-rich in the capital are changing perceptions of wealth.
Meanwhile, the gulf between London and the rest of the country was underlined by the poll’s findings on the amount needed to feel rich in regional cities.
Respondents said just £91,000 was needed to feel rich in Manchester, £106,000 in Leeds and £115,900 in Glasgow. But Birmingham residents would have to command £318,600, according to the survey.
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