Anonymous wrote:Well I wonder how many of these 1%'ers come from a 1% family? I had friends in college who were rich. They could major in anything and when the graduated they went into the family business.

This is me. I am a trustie, so was in that category as soon as I turned 18.

Anonymous wrote:I'm in the 1% and started out poor as a kid. For many of us baby boomers, law school was the ticket to the 1%. That is no longer true for young folks.

This is true. I had a professor in law school who told us she did not grow up wealthy but she paid for school by being a waitress part time. Not exactly possible now, but in addition the job market is crap.

I came from a solid middle class family, but not 1% family. I was an Econ major.

Anonymous wrote:Well I wonder how many of these 1%'ers come from a 1% family? I had friends in college who were rich. They could major in anything and when the graduated they went into the family business.

I did not come from a 1% family, although some people in my extended family are wealthy. My family is highly educated on both sides though. There is no family business.

What is considered 1% now and is it total HHI?

^ 99% of the 1% come from 1% families I mean

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Well I wonder how many of these 1%'ers come from a 1% family? I had friends in college who were rich. They could major in anything and when the graduated they went into the family business.

Some answers here:

http://fortune.com/2015/03/02/economic-inequality-myth-1-percent-wealth/

Actually that article buries the answer to PP's question in a weird way. The article is largely about income inequality being a myth because of fluidity, then eventually gets around to mentioning that there is very low intergenerational change.

Yes, I agree. It's more nuanced with what the Left (99% come from the 1%) and Right (America is 100% a meritocracy and suggesting otherwise is un-American) say.

Anonymous wrote:I'm in the 1% and started out poor as a kid. For many of us baby boomers, law school was the ticket to the 1%. That is no longer true for young folks.

How poor were you? Did you grow up near a major city with good school?

Better to be a philosophy major at Amherst, than a finance major at Average State U...

Anonymous wrote:

Anonymous wrote:Well I wonder how many of these 1%'ers come from a 1% family? I had friends in college who were rich. They could major in anything and when the graduated they went into the family business.

Some answers here:

http://fortune.com/2015/03/02/economic-inequality-myth-1-percent-wealth/

Actually that article buries the answer to PP's question in a weird way. The article is largely about income inequality being a myth because of fluidity, then eventually gets around to mentioning that there is very low intergenerational change.

Anonymous wrote:Well I wonder how many of these 1%'ers come from a 1% family? I had friends in college who were rich. They could major in anything and when the graduated they went into the family business.

Some answers here:

http://fortune.com/2015/03/02/economic-inequality-myth-1-percent-wealth/

I'm in the 1% and started out poor as a kid. For many of us baby boomers, law school was the ticket to the 1%. That is no longer true for young folks.

Well I wonder how many of these 1%'ers come from a 1% family? I had friends in college who were rich. They could major in anything and when the graduated they went into the family business.

Interesting. I am a 1%er and majored in poli sci/international relations.

Not sure if this is top 1% of individual earners or all includes all adults in 1% households but it's interesting to see that engineering majors aren't more likely than English majors to be in it, while Finance majors aren't particularly well represented.

http://economix.blogs.nytimes.com/2012/01/18/what-the-top-1-of-earners-majored-in/

Also interesting is the variation within the social sciences - political science and history majors are more likely to be in it than psych or sociology majors for instance.