How much does one have to earn to be able to afford luxury handbags eg. Chanel, Hermes?

It depends if you want to save for future, or get the bag and enjoy.

Not much.

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You can earn peanuts and still afford that bag if you are willing to get into debt or spend all your money on that 1 item.

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I know of first year staff who splash their full paycheck on that 1 branded bag but really senior executives carrying no-brand items. Your handbag is not indicative of the size of your paycheck.

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But I think the cost of the handbag could well be inversely proportional to one's wisdom.

You can't retire with bags. Invest and grow is a way to go

Well, does it matter? Someone earning $1k per month can afford luxury bag when put on debt. Affordability is subjective to individual, some people can go without food and drink just to buy luxury bag.