How Much Income Puts You In The Top 1% By Industry

There are many industries that can make you a top 1% income earner year after year. According to Forbes, the top 1 percent of earners make over $597,815 in annual salary. This number has continued to rise over the past 3-5 years and can vary from state to state. Most interestingly, many high earners are from all different industries. As an entrepreneur, you may want to learn what industries produce the most billionaires. Or, identify opportunities for you to make over $600,000 per year. In this post, we’ll cover how much income puts you in the top 1% of select industries.

Hedge Fund Industry

It’s no secret – the hedge fund managers can make over $1,000,000 per year. At the top 1 percent, some hedge fund managers are making over $1 Billion in annual revenue. Combined, the 25-highest earning hedge fund managers made $32 Billion just in 2020. These experienced investors charge management fees to their clients for participating in their funds. Many of their funds return high yields based on a variety of strategies like stock picking, algorithmic trading, and quantitative analysis. The can also take over public companies like investing in startups. For entrepreneurs with an investing or finance background, you might consider joining this industry in a number of ways. Overall, the impact of hedge funds can be made around the globe.

Small Business Owners

The small business owners in the top 1% make over $450,000 per year. These businesses typically make over $1,000,000 in revenues and have over 10 employees. Since there is such a high failure rate for small business, you may have to work extra hard on your cash flow and scaling up. Then, you should increase your profit margins so that you protect the business from losses. Typically, small businesses owners can drastically improve income by managing margins than bringing on more revenues. For sure, the average small business owner is far below the top 1 percent. So, if you are planning on making it to the top 1 percent of this industry, you will have to work hard and learn quickly along the way.

Orthopedic Surgeons

Next, orthopedic spine surgeons in the top 1% make upwards of $633,000. With only ~23,000 orthopedic surgeons in the United States, the high demand for these doctors put them in the top 1% of doctors and earners overall. Becoming a physician or surgeon offers many opportunities to earn income in the top 1%. Just like other industries, it takes years of study, work and dedication to make it to the top. You will find many primary doctors and surgeons that are self-made millionaires. You can even hire them for physician consulting jobs. Most importantly, this industry provides health, fitness and wellness – which might be worth more than most things we can value.

High Earning Lawyers

The highest performing attorneys make over $500,000 in annual salary. The best lawyers take on high-paying clients, who generate revenues in the millions each year. The top lawyers separate themselves through strong marketing and client reach. This way, they can align themselves with profitable case work depending on the type of law, location and deadlines. If you have the ambition, you can make a top 1% income by learning medical law, health law, bankruptcy law and other specialty areas. Certainly, the law industry has many opportunities to become a top earner.

Real Estate Agents

Plus, real estate agents can make $1,000,000 from one listing sale. This would automatically put them in the top 1% of real estate income earners. Since real estate agent income is highly dependent on commissions. The best paying areas and markets can vary greatly. The highest paid real estate agents earn more than $500,000. However, you could sell one property over $50 million in one year and you’ll be make much more than that. Additionally, high earning brokers can hire other agents to work for them. You can become a realtor or agent quickly and start working on your real estate agent business plan. You will have to work hard like other industries to climb your way into bigger deals or larger transaction volumes.

These are all industries that can make you a top 1 percent income earner. In the finance and hedge fund industry, you can earn billions of dollars at the top. Meanwhile, you’ll have to work diligently to make it as a small business. Or, you might consider a specialize profession like medicine or law – both offer high paying salaries. Additionally, consider becoming a real estate agent where you can make over $1,000,000 in a single transaction. Depending on your skill set, choose an industry and put in the work to rise to the top 1%.