You don't have to have millions in your bank account to be one of the "rich" in Germany. According to the definition of the Federal Government, this already applies to a four-digit income.
Frankfurt \u1 Those who work should be able to make a living from it, Federal Labour Minister Hubertus Heil (SPD) repeatedly emphasizes in public appearances. It's a question of respect. One thing the minister has already politically enforced with his pithy sentence: The minimum wage rose to twelve euros gross on October <> last year. From next year, the minister expects an even higher statutory minimum wage.
Development of the minimum wage over the past eight years. On October 1, 2022, the minimum wage rose to twelve euros per hour. © Federal government
When is one considered rich? On average, employees earn 3521 euros
However, employees who wanted to earn a monthly salary of around 5700 euros with this current minimum wage would have to work 475 hours every month. According to the Federal Ministry of Labour and Social Affairs, people in this country are only considered rich from this rich earnings.
However, the reality is different for most employees. According to a report by the Federal Statistical Office (StBA), full-time employees who have completed vocational training earned an average of 2022 euros gross in April 3521. Most of them certainly can't make big leaps – such as acquiring property and building up wealth.
Is this what wealth looks like? It doesn't have to be your own yacht and millions in your bank account to be considered rich in Germany. © Kasper Ravlo/Imago
In the latest Income Wealth Report of the Federal Government, half of the respondents cite an amount above 5000 euros as a threshold for wealth. This means that apparently there do not even have to be millions of euros in one's own account to be considered rich. A four-digit income per month is already enough.
Gross salary in comparison: This is how the industries differ
Of course, wealth is always a matter of personal opinion. A philosopher like the Greek Diogenes lived in a barrel in the light of the sun and even seemed to be very content. Nowadays, people would rarely define such a living relationship as wealth.
In order to feel happiness, health and social relationships are important in addition to professional successes, as evidenced by a Harvard study and merkur.de of IPPEN. MEDIA reported. But a certain financial security certainly does not harm one's own well-being. If you want to find out how wealthy you are compared to others, the German Economic Institute (IW) even provides an interactive calculator.
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According to a report in the Handelsblatt, employees earned the highest gross income on average in the "finance and insurance industry" at around 82,000 euros in 2021. This is followed by the "Information and Communication" and "Energy Supply" sectors. Bringing up the rear is the hospitality industry with an annual gross salary of 26,820 euros.
Here's how the top seven industries perform in terms of average income:
- Financial and insurance services: 81,929 euros
- Information and communication: 81,929 euros
- Energy supply: 71,683 euros
- Professional, scientific and technical services: 68,820 euros
- Real estate and housing: 59,907 euros
- Education: 58,597 euros
- Manufacturing: EUR 57 253
- (Source: Federal Statistical Office, gross income in 2021)
The evaluation of the data showed that gender can also influence the level of income. On average, women received less salary for the same work than their male colleagues. According to the Federal Statistical Office, the average gross income in 2021 for full-time men was 23.20 euros per hour. Full-time women, on the other hand, earned only 19.12 euros, which is well above the current minimum wage.