How much must you earn to be considered as "rich"?

My dad was earning almost 200k, however I have never thought of us to be anywhere near "rich" considering after tax I'm guessing it's around 100-120k? With further deductions (family of 4, mortgage, electric/gas costs, clothes, cars(initial cost+petrol), food and drink, going out and all other day to day expenses) you really aren't left with anything?

I would consider it to be middle class if anything?

1) So how much would you need to earn to be considered rich?
2) How much would you need to earn to be rich enough to have say a £5m mansion

I would have thought if you were earning 50k you would be pretty well off!

A 2 child family in London with a stay-at-home mother and a father who works a minimum wage job has the equivalent of a £40k gross salary after government benefits. So £50k for a family is barely more than minimum wage

You certainly cant raise a family in London on £50k.

A 2 child family in London with a stay-at-home mother and a father who works a minimum wage job has the equivalent of a £40k gross salary after government benefits. So £50k for a family is barely more than minimum wage

You certainly cant raise a family in London on £50k (I know people are going to say "but my parents earned less than that and we were fine" - see the above post).

My dad was earning almost 200k, however I have never thought of us to be anywhere near "rich" considering after tax I'm guessing it's around 100-120k? With further deductions (family of 4, mortgage, electric/gas costs, clothes, cars(initial cost+petrol), food and drink, going out and all other day to day expenses) you really aren't left with anything?

I would consider it to be middle class if anything?

1) So how much would you need to earn to be considered rich?
2) How much would you need to earn to be rich enough to have say a £5m mansion

Being rich doesnt have much to do with income, its about wealth. In the modern UK there isnt much connection between income and wealth - the extreme rises in house prices since 1990 mean that people from the older generation (who are 40+) are typically sitting on very large amounts of net worth even if they had fairly modest jobs and salaries - its not uncommon to find people who worked as nurses/teachers/etc their whole lives and now own £1m+ of housing. In contrast, a young person today will struggle to accumulate net worth (and housing) even if they have a high salary, because the goal posts have moved.

Realistically, someone earning £60k/year today will probably never be rich (and wont even be able to afford a house in London), while someone 20 years older who earned £30k all their life (adjusting for inflation) will have lived quite comfortably due to how much cheaper everything was. When your parents were young, it was very common for a family to have a single working father earning a modest salary and a stay-at-home mother, and be very comfortable. That is absolutely not the case today (at least without government benefits, which are substantial)

Comparing yourself to your parents doesnt make much sense because you are going to be a lot poorer than them even if you have the same job and salary - housing costs are several orders of magnitude higher than they were for previous generations, while most adult living costs (rent, childcare, schooling, etc) are much more expensive.

These days, if you have a family and want to have a vaguely middle class life in London (2 kids, a part-time or stay-at-home mother, and a reasonable school for your children) then I would say the absolute minimum you would need to earn is £100k.and even that would be a struggle - you wont be in poverty but there will be very few luxuries. In contrast, someone from your parents generation would probably have got by on £40k or so since the housing costs were so much lower.

After you go north of Cambridge things get better, and you can probably live a middle class life on £40-50k or so.

Those salary numbers are just to have a traditional middle class life. To be wealthy youre looking at £300k+ (London) or maybe £100k+ (non-London)

I consider being in the top 5% of all human beings in the world as being rich, and thus you are rich if you earn more than 20k per year. If you earn 200k, you are in the top 0.1% in the world by income.

What are the different types of jobs can I get that will pay me £300k?

Thats an extremely flawed and misleading way to look at things, because it doesnt take living costs into account. People in developed countries earn more, but they also have to pay far higher costs for the necessities of life (housing, food, etc).

If you like at somewhere like India, yeah the average annual salary is only £3000 or so, but renting a nice house only costs around £1000/year. So you cant just say "someone in the UK making £30k is 10x richer" when that person is paying £10,000/year for the same house.

Also you need to take taxes into account; someone who makes £40k a year in the UK will be paying around 60% tax on it (20% income, 14% national insurance, 20% VAT, 10% other things) while the tax rate in most non-developed countries is very low.

Also in the West things like child-care eat up the bulk of most adult incomes, while in 'poorer' countries middle class people can typically afford a variet of live in servants. If you look at a typical middle class family in India, China, Sinagpore, etc they will typically have a personal maid/nanny/cook/etc, while in the UK you would have to be extremely wealthy to afford that.

If you made £20k/year in India then you would live like a king, with an absolutely amazing quality of life. That isnt the case in the UK, so saying that "people in England earning £20k should feel rich" is just stupid feel-good nonsense.

Taxes are higher, but you get what you pay for - good quality healthcare, emergency services, honest and trustworthy police, reliable and safe roads, good education, effective legal system and government safety nets for the ill and poor.
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Someone earning £20k in a country like India/China would have better versions of all these things than someone earning £40k in the UK - private healthcare, private security in their building, private international schools for their children, etc. You arent comparing like-with-like

I disagree - health wise, do you think someone earning 20k can afford an MRI scan for their ill children in India? Of course not, the technology isn't widely available there and costly. Road wise, can they afford to pay for safe roads to be built? Can they afford to pay for more police to enforce safe driving on the roads? No. The list goes on and on.