In this study, we analyse the relationship between migration and inequality, within a network setting. Specifically, we employ social network analysis to investigate whether migration flows move between countries with similar or dissimilar levels of income and inequality, across 41 European countries. We observe that emigration flows move between more unequal to less unequal countries and find indications of two migration regimes: one reflecting the movement predominantly between EU‐15 member states and another propelled by per‐capita income differences for the migrants from other countries in Europe. As the first study to investigate the relationship between inequality and migration flows within a network, rather than considering the flows as unrelated to each other, it significantly contributes to our understanding of the complex relationship between inequality and migration.