TOKYO -- "I want to become rich, but that's probably impossible" -- this is the view held by many high school students in Japan when imagining their future, according to a recent survey on high schoolers' financial situations and career paths.
The online survey was conducted in mid-September by Benesse Corp. and Sparx Group Co., targeting about 600 first- to third-year high school students. To a question asking if they wanted to become rich in the future, 37.4% of respondents said they "really want to" and 40.6% said they do "to a certain extent."
However, when asked if they think they can actually become rich, only 5.3% of respondents answered that the "really think so," while 15.2% said they "think so to a certain extent" -- bringing the total of those who believe they can become rich to around 20%.
The most common answer for the amount of annual income the respondents considered would make them "rich" was "10 million yen (around $70,000) or more," at 41.4%. However, when the students were asked how much they imagined they would earn annually in the future, the most common answer was "less than 3 million yen (about $21,000)" at 12%, while 6.9% said 10 million yen or more.
To a question asking respondents to select up to three factors they considered important when choosing a company during job hunting, "stable" came out on top at 46.1%, followed by "high paying" at 40.5% and "fulfilling" at 38.7%. Furthermore, 2.9% of respondents said they want to start their own business.
Regarding the fact that students tended to pick realistic and sound options, Benesse explained, "High school students who have grown up in a prolonged recession (in Japan) may have seen firsthand the struggles of earning money, giving them a strict sense regarding money."
(Japanese original by Yuko Shimada, Business News Department)
FAQs
However, when asked if they think they can actually become rich, only 5.3% of respondents answered that the "really think so," while 15.2% said they "think so to a certain extent" -- bringing the total of those who believe they can become rich to around 20%.
What is top 1% income in Japan? ›
Japan
- Annual pre-tax income needed to be in the 1%: $283,986.
- Annual pre-tax income needed to be in the top 10%: $103,789.
Japan's economic growth after the 1940s was based on unprecedented expansion of industrial production and the development of an enormous domestic market, as well as on an aggressive export trade policy.
Why does Japan have less billionaires? ›
Historically Japan has had fewer billionaires than other countries due to its high inheritance tax rates of up to 55%.
Do you know who is the richest person in Japan? ›
1. Tadashi Yanai & family. Tadashi Yanai is ranked 1st on our list of the wealthiest people in Japan.
Is 10 million yen a good salary in Japan? ›
10 million yen annually would put you well above the average pay for any age group or gender in Japan. At that income level, I think the state will take roughly a third of what you make in various forms not including consumption tax/VAT.
How rich is rich in Japan? ›
Wealthy households with financial assets of 100 million to 500 million JPY are 1.4 million, and super-wealthy households with 500 million JPY or more are 90,000.
Why does Japan make so much money? ›
The way they get their resources such as iron, oil, copper, etc is by trade. The fact they have been trading back and forth with a variety of countries for an extremely long time has helped their economy to flourish. Japan could not get by without trade, and thankfully the more they trade the better it is.
What makes Japanese rich? ›
The automobile manufacturing industry, which is the second largest in the world, dominates the industrial sector, with Toyota being the world's largest manufacturer of cars. Japan is often ranked among the world's most innovative countries, leading several measures of global patent filings.
Why is Japan income so low? ›
The weak income growth is largely driven by structural factors, including disincentives for second earners in the social security system, pension policies, and more broadly the dual labor market structure. Policies to address these structural barriers are key to boost income growth in Japan.
Tadashi Yanai & family, leads as the 1st in Japan, with $39.72B in Fashion & Retail sector. Followed by Masayoshi Son, 2nd in Japan, making waves in Finance & Investments at 66th globally, and Takemitsu Takizaki, 3rd in Japan, contributing significantly to Manufacturing at 96th globally.
Who is the richest woman in Japan? ›
Meet Japan's First Self-Made Woman Billionaire
A onetime secretary with a high school degree, Yoshiko Shinohara founded a temp staffing agency in the 1970s. Now it's a $4.5 billion company – and she's got a 10-figure fortune.
What is considered poor in Japan? ›
In Japan, relative poverty is defined as a state at which the income of a household is at or below half of the median household income. According to OECD figures, the mean household net-adjusted disposable income for Japan is US$23,458, higher than the OECD member state average of US$22,387.
How can you tell if someone is rich in Japan? ›
But how do you define a rich person in Japan? According to Atsushi Miura, who last year published a book titled "The New Rich," the financial industry considers a person to be wealthy if their yearly income is over ¥30 million and they have assets of at least ¥100 million.
Who is the youngest rich person in Japan? ›
According to Forbes, there are now 2,781 billionaires living on Earth, and one of them is Japan's youngest billionaire, Shunsaku Sagami. Here's everything you need to know about Japan's future of business. According to Forbes, at only 33 years old, Sagami has an impressive net worth of $1.9 billion.
What is the top 1% wealth in Japan? ›
Japan meanwhile comes across as a little more egalitarian, with $2 million in assets being the entry ticket to the 1% club and the group holding 19% of wealth.
What is considered a high income in Japan? ›
The average monthly salary in Japan is around 515,000 Japanese yen. Salaries can range from a low average of 130,000 yen to a high average of 2,300,000 yen.
Is 500k yen good salary in Japan? ›
That would be a good monthly salary for many people. It should be enough, depending on various things. The other answers are excellent and cover the bases.
How rich is the top 1%? ›
Key Takeaways
- The minimum net worth of the top 1% of households is roughly $13.7 million. ...
- An individual would have to earn an average of $407,500 per year to join the top 1%. ...
- The median household income in the U.S. was $74,580 in 2022.
Japan has a highly service-dominated economy, which contributes approximately 70% of GDP, with most of the remainder coming from the industrial sector.
