Study: Rich Kids Get Higher Salaries

Rich kids don’t just get cool toys, they also get higher salaries when they get out of college. Scientists from Cambridge University and Harvard University looked at the relationships among the earnings of recent college grads and their background, degree and university. Researchers discovered that all things being equal– same degree, same institution– students whose parents are in the upper income brackets tend to earn a higher salary ten years out of college than do their less wealthy peers. Researchers defined wealthy students as those with parents earning in the top 20 percent. Ten years after graduation, men from families in the top 20 percent were earning $11,000 per year more than those from the bottom 80 percent. For women, the gap was $7,500. (UPI)