Who really thrives in France?

France, often celebrated for its rich culture, delectable cuisine, and stunning landscapes, invites curiosity about what it truly means to live well within its borders, Forbes highlights.

The most visited country in the world, often idealized for its delightful food, climate, and stunning landscapes, raises the question of what it truly means to live well in France and what income level is considered affluent. L'Observatoire des Inégalités, which analyzes social disparities in France, regularly examines the criteria for wealth in Europe’s second-largest economy.

According to a 2024 study using 2022 data from Insee, the National Institute of Statistics and Economic Studies, half of full-time private sector employees earn less than $2,295 (2,092 euros) monthly. A quarter earn below $1,832 (1,670 euros), while nearly 25 per cent exceed $3,291 (3,000 euros). The top 10 per cent of earners bring in $4,575 (4,170 euros), and to be in the top 1 per cent, one must earn at least $11,000 (10,000 euros) per month after taxes. 

These figures reflect income alone, ignoring spending habits that vary significantly based on individual circumstances and living standards. Age factors are also not considered, which could alter the data based on a person's career stage. Notably, this analysis focuses on the private sector, where salaries tend to be lower compared to the public sector, where employees often have higher qualifications. These income statistics are only marginally higher than Insee's figures from 2019. According to a 2022 report, an individual is classified as wealthy in France if their after-tax income is double the national average, calculated to be $4,256 (3,880 euros). Only 10 per cent of the French population reaches this income level.

L'Observatoire des Inégalités offers a salary scale tool that allows users to input their monthly net income and see how it compares to others in France. This tool has been utilized over 3 million times and is based on the most recent 2022 Insee data. Previous studies on wealth in France have identified additional indicators beyond just salary. 

For instance, owning 60 square meters (645 square feet) of living space, a luxury car, domestic help, or the ability to take vacations are all signs of financial well-being. The research also highlighted the importance of job security, noting that individuals with stable jobs and control over their working hours are perceived as wealthier. 

Furthermore, access to education and a strong social network contributes to one's sense of security, reinforcing the idea that "wealth begets wealth." Additionally, the same organization found that while having sufficient funds is beneficial, greater wealth does not necessarily lead to increased happiness. 

Self-reported happiness levels rise with income, from the lowest 5 per cent of earners, who make around $873 (800 euros), to those earning $2,300 (2,100 euros) monthly. However, beyond this point, higher-income individuals, including the top 1 per cent who earn approximately $7,100 (6,500 euros) per month, do not report greater happiness. This suggests that an abundance of money does not equate to greater happiness.

By Naila Huseynova