If you read this blog post, it explains rather well how income levels are broken down in different classifications, and it is where I get the latest percentages I use as a jumping off point for this post.Essentially, based on Pulse Asia’s classifications, they estimate that categories “A/B/C” make up just the top 7% of all families in the Philippines, while another 67% fall into the “D” category, and 26% are in the “E” category.
In other words, a whopping 93% of families or so LIVE BELOW the PHP50,000 “lower-middle class” budget I outlined above.
This also, by the way, translates into the top 7% being the A/B/C. If you were a single income earner, and you did NOT support anyone else, and you lived in the city and made say PHP20,000 per month say at a call center or as a bank teller or executive secretary, you would be solidly a B /A- on the socioeconomic scale.
Income Level Breakdown Top 1% of population or roughly 174,000 families of five people made an average of P122,000 per month or higher. If you look at the roughly estimated top 8,500 families, I figure they make roughly P500,000-600,000 per month in income on average.
In other words, if your annual income for a family of 5 is roughly PHP6-7 million, then you can say you are in the Top 99.95% of income earners in the Philippines.
I just find that amazing because I think if you asked these folks if they felt they were in the top 3-4% income earners in the country, they would vehemently disagree. Just to keep going, the 10.01-20th percentile earns an average of P24,333 per family of 5 per month.