Top 1% of population or roughly 174,000 families of five people made an average of P122,000 per month or higher. The TOP 1%! If you look at the roughly estimated top 8,500 families, I figure they make roughly P500,000-600,000 per month in income on average. In other words, if your annual income for a family of 5 is roughly PHP6-7 million, then you can say you are in the Top 99.95% of income earners in the Philippines.
The Top 10% or roughly 1.74 million families of five made an average monthly income roughly PHP55,000 per month. However, this data is skewed due to the real big income earners in the group, and if you did indeed make P50,000 or so a month for a family of 5, that would actually place you roughly in the top 6-7% of the entire nation. In other words, a whopping 93% of families or so LIVE BELOW the PHP50,000 “lower-middle class” budget I outlined above. This also, by the way, translates into the top 7% being the A/B/C. And everything below that is D and E. If you were a single income earner, and you did NOT support anyone else, and you lived in the city and made say PHP20,000 per month say at a call center or as a bank teller or executive secretary, you would be solidly a B+/A- on the socioeconomic scale. I just find that amazing because I think if you asked these folks if they felt they were in the top 3-4% income earners in the country, they would vehemently disagree. But I am a numbers guy, so they better believe it…
via Market Manila – Income Levels / Poverty in the Philippines – General.
Giancarlo Angulo's Blog