Earning a Million Annually in Beijing: Is Educational Freedom Still Out of Reach?

Despite an annual income of one million yuan in Beijing, achieving educational freedom remains a challenge.

01.What is the Living Standard of a Family with an Annual Income of One Million in Beijing?

Families with an annual income of one million yuan in Beijing typically consist of career professionals who have accumulated some experience and success in their fields, with a monthly household income exceeding 50,000 yuan.

Most of these families own a home in Beijing. Those with substantial family wealth or who invested early might live within the Fourth Ring Road, which is ideal. However, the majority lack such foresight or financial capability. When they first bought their homes, their incomes were modest, and desiring a comfortable living space, they often settled beyond the Fifth Ring Road. Their homes were generally purchased at around five million yuan, with a down payment of approximately 1.5 million yuan. Monthly mortgage payments can exceed 20,000 yuan. While this yearly mortgage of over 200,000 yuan is manageable for families with a million-yuan annual income, this comfort only lasts until they have children. Once children need to start school, the quest for good schools begins, prompting considerations for moving to better school districts.

When it comes to school district housing, this income level becomes problematic.

If their current home is not in a prime educational area, its appreciation cannot keep pace with that of school district housing, forcing them to trade space for location. The higher the demand for a good school district, the smaller the living space.

After all, with an annual income of one million yuan, they are considered elite professionals. But why do they work so hard every day? Coming home exhausted only to face a cramped, cluttered living space can make life feel unbearably difficult, leading to potential depression.

02.Many Worries Begin Even Before Buying a School District House

Most families with an annual income of one million yuan in Beijing belong to the "first generation of entrepreneurs," individuals who have emerged from small towns through their own efforts.

They strongly believe in the power of education to change destinies and strive to provide their children with the best education possible, leading to anxiety that begins as early as kindergarten.

In recent years, frequent child abuse incidents in kindergartens have driven parents to push for their children to attend public kindergartens. However, these resources are scarce, with admission largely dependent on household registration and housing status, forcing non-local residents to send their children to private kindergartens.

Among private kindergartens, some have converted to inclusive kindergartens, which are relatively affordable at an average of 1,200 yuan per month, including meals. However, these classes typically have at least 40 children, and teachers primarily focus on supervision rather than education.

In such environments, the likelihood of receiving a quality education is low. Parents with an annual income of one million yuan often send their children to bilingual kindergartens, where tuition costs around 50,000 to 60,000 yuan per year, and international kindergartens can cost upwards of 100,000 yuan per year.

Parents are willing to invest in education, believing they can afford it. However, in reality, many overestimate their financial capability.

03.Children's education leads to downgrading of consumption

In Beijing, a family with an annual income of one million lives comfortably without children, but finances tighten once children start school.

For families in Beijing with an annual income of one million yuan and no children, life can be quite comfortable. However, as soon as children begin school, the cost of living requires meticulous budgeting, and personal needs often take a backseat to the child’s education.

Without inherited wealth, these families typically opt for cars priced under 300,000 yuan. Previously, Volkswagen, Toyota, and Volvo were common choices, but as getting a license plate through the lottery system became harder, many queued for new energy vehicles like Tesla. Entry-level models from Audi, BMW, and Mercedes-Benz are also popular, as well as BYD Qin.

Even if the family owns two cars, they still frequently use the subway due to high housing costs, which make it difficult to afford homes near their workplaces. Commuting to and from work presents challenges, with traffic jams when driving and overcrowded conditions on the subway.

04.After Having Children, Everything Revolves Around Education

For families with an annual income of one million yuan, the pursuit of a good educational environment and resources can quickly become a financial strain.

Ultimately, they are forced to make various choices within their economic means.

One of the most common dilemmas is choosing between public, private, or international schools, with tuition differences reaching up to 200,000 yuan.

Public schools are free, but accessing quality education requires significant investment in school district housing. Following the standard path of competitions and the gaokao (or getting into Tsinghua's youth camp) costs at least 100,000 yuan per year, and parents must also work hard to secure local household registration.

Choosing international schools involves annual tuition fees, but later expenses for competitions, summer schools, and talent programs can at least double the cultivation costs. If there is only one child, the cost is approximately 300,000 to 500,000 yuan, and even with frugality, the family can barely manage. However, families with two children can only look on in despair.

05.Educational Freedom Eludes Beijing Families with Million-Yuan Incomes

Even though many parents understand that their children's future depends on economic stability and family values, they still lack the time to accompany them in their growth.

The substantial income is like a banana dangling overhead—enticing yet elusive; the educational choices seem numerous, but in the process of choosing, they hesitate and worry, fearing they will make the wrong decision.

The road becomes increasingly difficult, but they can only forge ahead with determination.

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