HELP! How much money do they make?
Can anyone tell me the answer/equation to figure out how much someone's annual salary would be if they are worth £12.6m? Its for a class assignment and I literally have no idea how to work it out. Thanks
- SumDudeLv 71 month ago
No correlation. That amount of money (worth) is not gained through salary ... rather, an inheritance, lottery winnings, or creating an invention, a corporation, owning land (that goes up in value) or famous art, etc. Also, salary start low and grows over time (so you could estimate a salary that grows at 5% (or 10%,,,) per year over 40 years (after taxes and living expenses) to "find" salary at age 60 - but again, that would just be a m,ath exercise - not reality. - accountant
- billrussell42Lv 71 month ago
net worth has nothing to do with salary. Salary could be zero, could be a million pounds a month.