You’d have to be a pretty exceptional person to break into the UK top 1 percent. Not only do you need to excel in your chosen profession, job and company to earn those high wages, but you also have to have some serious savvy to keep up with the changing times. Our 2023 survey of the UK’s highest earners found that they were worried that their children would not be able to climb the professional ladder as quickly or as easily as they did – and that middle-class jobs in industries like law, medicine and IT are becoming hollowed out due to automation, offshoring and precarisation.

It’s not easy to get into the UK top 1%, and it may be even harder to stay there. Those in this elite club typically earn around PS500,000 a year, more than double the UK median wage of PS26,300. They live mainly in London and the southeast and are largely middle-aged. Visit website

The 1% of earners pay around 30 per cent of income tax revenues, higher than in any period in the past twenty years. That means three in every ten pounds that the government gets goes to the richest one per cent, so it’s not hard to see why the UK looks like a top heavy economy.

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While salary is the main source of income in the UK top 1%, many members also earn from partnerships and dividends, which are typically taxed at lower rates than salaries. And of course, they also have their own wealth built up through assets such as houses, shares and other investments.…