How do people earn their living? In a magical world, are they allowed to use magic to boost how they do? Can people improve their prospects and, if so how?
Is there the equivalent of income tax? If not, how does the government in your world raise its revenues? Is revenue earning capacity dependent on which magical group you're in? For example, are wizards naturally higher earners than witches? Also earnings don't have to be in cash and so often are not. In a fictional world, this will be even more the case.
How can people improve their eduation/jobs/magical training so they can earn more? Someone in your society has to be the lowest earner. Who and wny?