It turns out the finance sector only makes up 14% of the top 1% of American earners, says this CNN Money report. Executives in other industries make up more than 30% of America’s richest cohort. Medical professionals compose close to 16% and lawyers are 8% of the top 1%.
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Meanwhile, no one is immune to the weak economy. The threshold to make it into the 1% club was over $424,00 in 2007. Today, it’s $343,927. That’s in large part due to the stock market crash. The number of bankers in the elite echelon might also shrink thanks to lousy earnings on Wall Street this year.
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