The majority of people in the Balearic Islands earn between 12,000 and 21,000 euros, but a percentage of residents rake in more than 50,000 a month.
In 2019, a total of 370 Balearic residents declared an annual income in excess of 600,000 euros, which is equal to a super salary of more than 50,000 euros per month.
Personal income tax returns for 2019 published by the Tax Agency show that those 370 people earn more in a month than the other 522,982 Balearic residents make in a year.
The identity of the super earners has not been revealed, but the list is likely to include, Hotel Executives, tourism corporations, elite athletes, lawyers and architects.
The Balearic Islands & Catalonia
The Balearic Islands and Catalonia have the second highest rate of mega-salaries after Madrid in percentage terms.
In 2019, there were 5,448 residents in Spain earning a salary of more than 50,000 euros per month, which is 0.16% of all declarations submitted to the Treasury.
The Senior executives in the Balearic Islands and Catalonia earning upwards of 600,000 euros per year, represent 0.07% of the total declarations submitted.
There are 370 super-earners in the Balearic Islands compared to 2,624 in Catalonia, which has a much bigger population.
Those with a lower percentage of super-earners are Castilla-La Mancha and Extremadura, with 0.1% declaring that income.
Two other communities that are above average are the Valencian Community and La Rioja with 0.04% super-earners.
Besides those 370 top earners in the Balearics, there are also 3,934 employees who receive a salary of between 150,000 and 600,000 euros, which represents 0.71 percent of the total declarations.
In the category of outstanding salaries are also those who earn between 60,000 and 150,000 euros a year.
The figure is already more abundant with a total of 23,605 declarants, representing 4.28% of all declarations made in 2019.