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High earnings with seven-figures: Over 35,000 individuals in Germany have amassed sizeable incomes. - High-Earning Individuals in Germany Reach Six-Digit Salaries: Approximately 35,000 People
In the heart of Europe, Germany has witnessed an impressive rise in the number of citizens earning a million euros or more yearly. Data from the Federal Statistical Office reveals that as of 2021, approximately 35,000 individuals were income millionaires — a noteworthy increase of around 18% compared to the previous year.
This surge can be partly explained by the higher inflation rates experienced in 2021 and the pandemic-related special effects, as the Wiesbaden-based authority explained.
So, where's the green coming from?
The majority of high earners — a whopping 60% — credited their wealth to running a business, while 19% attribute it to their employment, and 15% are self-employed. The average annual income among these high rollers stood at a staggering €2.8 million. Congrats to you, Joe Average! You'd only make around €49,000 in those parts if you were just an average ol' employee...
Although the number of income millionaires is skyrocketing, don't forget that poverty continues to rise in Germany, as the Hans-Boeckler Foundation's Institute for Economic and Social Research (WSI) highlighted. This growing torrent of social inequality might lead to unsettling questions about our democratic system, warns WSI's scientific director, Bettina Kohlrausch.
Stay tuned for more on the fabulous fortunes of the German elite.
Read More: "Watch the Wallets: Where Fortunes of Germany's Ten Richest Reside"
- Earnings
- Germany
- Inflation
Enriching the paints on our picture, we can explore Germany's economic structure and the primary sources of high income. High net worth in Germany primarily stems from employment, business ventures, and self-employment.
Sources of High Incomes in Germany
As a global financial powerhouse, Germany's high-paying sectors include banking & finance, law, and science. For example, the cushy salaries in banking & finance rarely dip below €71,088 per year, while lawyers can bank on around €68,640. These sectors offer stable and competitive employment opportunities.
Business operations in Germany generate substantial revenues for companies and their executives, due to the country's robust economy and large workforce (roughly 45.8 million in early 2025).
Entrepreneurship also paves the way to significant earnings in sectors like technology and manufacturing. Although the exact distribution of high incomes from these sources is not clearly defined in the data, it's clear that employment and business operations play crucial roles, with self-employment contributing less but still making a mark.
Community policy should address the rising poverty in Germany despite the surge of income millionaires, which is primarily attributed to employment, business ventures, and self-employment. Personal-finance management, particularly in high-paying sectors such as banking & finance and law, could be integral to a comprehensive employment policy that aims to reduce social inequality.
