What Your Parents' Income Predicts About You, According To Scientific Research (2024)

Freud certainly got a few things right in his time, particularly his theory that the environments in which we’re raised have a tremendous impact on our lives as adults. How we were raised affects our personality and life choices, as well as career path and overall health. Of course, one of the most important factors of our home life is the socioeconomic status in which we grew up.

The income your parents made when you were a youngster doesn’t define everything about your family, but it could account for some of your primary characteristics. Of course, it’s not a foolproof formula for understanding human beings; things like parenting styles, culture, and religion work in conjunction with class to mold us.

Susan E. Mayer, Professor of Public Policy Studies at the University of Chicago, conducted research on the connection between house income and our personalities, and while she came to several conclusions — some were easier to stomach than others — she urges us to remember that we don’t have enough high-quality research to make definite predictions on this correlation. We can take what we’ve learned from the studies but we shouldn’t rely on them to predict how the next generation will turn out. Finally, we would be unwise to define ourselves based on the money that was rolling in when we were kids. No matter what, we still have our own choices to make.

Here is what science has to say about your childhood socioeconomic status and what it predicts about who you turn out to be.

If You Grew Up Upper Or Upper-Middle Class...

Studies overwhelmingly show that you are more likely to have a high IQ and probably went to college and maybe even graduate school. You likely have good communication skills because your parents were constantly interacting with you and enrolling you in programs that would improve your ability to socialize. You’re apparently also more patient and altruistic than your peers, but you think quite highly of yourself — only because your mom consistently praised you, reminding you how awesome you were.

Generally speaking, parents who are raking in a lot of cash tend to be more inconsistent in their parenting styles; if you fall into this category, you may have even had parents who adopted a style “that is characterized by psychological control.” You don’t react to threats very much because your dad probably doled out verbal warnings, only to never follow through with them. However, that same parent was emotionally warm and constantly commending you for all your achievements. A kid in this kind of household gets used to that affection, which means they expect it from important people in their adult lives, such as partners or bosses.

You might play it safe when it comes to the important life decisions. After all, you grew up in stability and really value it for yourself.

If You Grew Up Middle Class...

This group of folks is a bit harder to pin down because the middle class is vaster than we think it is. In 2012, 49 percent of Americans say they fit in the middle, according to a Pew Research survey. They experience more geographic mobility and greater opportunities for choice and control than the working class. This gives parents the room to encourage self-expression, promoting a sense of independence from others. Research published in the journal Social Psychological and Personality Science says parents in the middle class try to teach their children what it means to be “good,” but they also convey a sense of entitlement that has likely followed them to adulthood. (Slightly guilty as charged.)

Hazel Rose Markus conducted a study in 2005 that showed folks in this demographic were concerned with their ability to choose — choose their career, their place of residence, and their everyday tasks. They react negatively when a larger force has overthrown their decision.

If you grew up in this kind of home, you have probably inherited that belief; you like knowing all your options and being in control of what path lies ahead of you, so much so that you don’t tend to take all of life’s curveballs very well.

If You Grew Up Working Class...

Chances are you’re a hard worker, as your home life wasn’t as cushy or stable as those whose parents were doctors and lawyers. Parents worked long hours and your access to media was rarely monitored, so you learned to self-govern at an earlier age. When you were younger, under the age of 10, you were more of a risk-taker than most of your peers. According to scientific research, there’s a strong likelihood that your parents taught you that the world doesn’t revolve around you; this makes you more aware of people’s needs around you and more considerate of what’s happening in your environment. Unlike the middle class kids, you don’t tend to revel in the value of choice. In fact, you “describe choice more negatively” and simply accept what falls into your lap.

Professor of Psychology at CMU’s Dietrich College of Humanities and Social Sciences, Robert E. Doherty conducted studies that discovered how adult health is affected by childhood environments, specifically centered on children from poor households and their physical wellbeing. These kids grow up to have shorter telomeres than others. The length of a telomere is important because it’s a biomarker of aging; the shorter it is, the more likely the individual will develop cancer or cardiovascular disease. If you grew up in this category, Doherty says you are more susceptible to the common cold than the next person.

Not to keep piling on the bad news, but people in this category are twice as likely to develop major depression in their adult lives. Other factors are relevant, such as family history of mental illness, and the income you end up earning as an adult. But there’s no denying that, compared to the offspring of wealthier families, you are at a higher risk to see clinical depression.

A very significant layer to highlight is that families who experienced short bouts of poverty at a time — versus long-term financial struggles — don’t see as many of these outcomes come into fruition.

Images: jill111/Pixabay; Giphy (3)

What Your Parents' Income Predicts About You, According To Scientific Research (2024)

FAQs

What Your Parents' Income Predicts About You, According To Scientific Research? ›

The findings also indicate that mothers who receive the exogenous increase in incomes affect the educational

educational
Education is the transmission of knowledge, skills, and character traits and manifests in various forms. Formal education occurs within a structured institutional framework, such as public schools, following a curriculum.
https://en.wikipedia.org › wiki › Education
outcomes, while fathers who receive the income affect the child's criminal behavior. There are numerous mechanisms that may translate higher household incomes into better child outcomes.

How much does parental income affect child outcomes? ›

On average, children growing up in low income households have poorer health than children from richer backgrounds and score worse on tests of cognitive, social and behavioural development (e.g. Duncan and Brooks-Gunn 1997; Mayer 1997; Washbrook et al. 2014; Bradbury et al. 2015).

What is the relationship between family income and where you go to college? ›

Students from the lowest family income level (less than $30,000) pay about a third of their family's income toward the cost of an in-state public education. If these students choose a private institution, they are likely to pay more than half their family's income to attend.

What is the concept of family income? ›

Definition. Family income is a measurement of economic position of individuals who are considered to be part of one familial unit. Income is broadly inclusive of wages, pensions, investments, governmental assistance or benefits, rent earnings, and any other source of finances.

How does money affect families? ›

Research by Grant and others show that financial strain can also be hard on kids because of its effects on parents, who are often coping with their own stress, anxiety, or depression. And money troubles often lead to conflict with a spouse or partner, which is known to be harmful for children.

Do higher income families have less kids? ›

While including such benefits in total income means there is a positive relationship between income and fertility for both men and women, when earnings from work are examined, excluding all of benefits and transfers from the state, high earning women still have fewer children than lower earning women.

What is the correlation between parent and child income? ›

WASHINGTON—New analysis by researchers at Stanford University, funded by The Pew Charitable Trusts and the Russell Sage Foundation, finds that approximately half of parental income advantages in the United States are passed on to children, which is among the lowest estimates of economic mobility yet produced.

Do colleges prefer high income students? ›

But the Chetty research demonstrates conclusively that rich students retain a leg up in college admissions even after accounting for standardized test scores, because they have an advantage in nonacademic qualities such as athlete and legacy status.

Why do colleges look at parents' income? ›

"Financial need," also known as “demonstrated need,” is the difference between a school's cost of attendance and your family's expected family contribution (EFC). Essentially, it's the amount of aid—be it loans, grants, or scholarships—that you'll need to cover your education costs.

Why do low-income students go to college? ›

One way that lower-income children can beat the odds is by getting a college degree. [1] Those who complete four-year degrees have a much better chance of becoming middle class than those who don't — although still not as good of a chance as their more affluent peers.

What is upper class income? ›

While there's no definitive line, households in the top 20% of earners are generally considered upper class. According to the U.S. Census Bureau, the median household income in 2022 was $74,580. To reach the upper class in 2024, you'd typically need an income exceeding $153,000 – more than double the national median.

What is the most common family income? ›

Real median household income was $74,580 in 2022, a 2.3 percent decline from the 2021 estimate of $76,330 (Figure 1 and Table A-1).

What is a good household income? ›

“Good income is relative to the average household income in America, which is $78,000 right now.” Real median household income in the U.S. was $78,250 in 2019 and fell to $74,580 in 2022, according to the Census Bureau. "You're not a bad person. You're not a horrible income earner. You're not lazy.

Why does household income matter? ›

Household income provides a picture of the standard of living of various households. It is also a good barometer of the local and national economies.

What is more important money or parents? ›

We can get money by anyway but we can not feel the family member's love and care when we lose them . if you have parents and family than realize yourself the importance of their love , care and necessity in the whole life. Money come and lost . You can buy anything by money but not parents and siblings.

Why do families struggle financially? ›

The high cost of living, wealth inequality and job market uncertainty have all contributed to financial vulnerability, even among wealthy families. Concerns about personal debt, including credit card, auto loan and medical debt, are significant sources of financial stress.

How does parental job loss affect children's outcomes? ›

Following the layoff, children are more likely to work informally, commit crime, and experience early pregnancy. In turn, parents reduce educational investments by moving children from private to lower-quality public schools.

Does parental employment affect children's educational attainment? ›

For example, a lack of adult supervision when children are left home alone for long periods due to parental employment could increase school absenteeism, thereby deteriorating educational attainment.

How does income level affect child development? ›

Low-income parents and children are more likely to be affected by challenges with mental health and mental illness. These mental health problems often impair overall academic achievement and the ability of children to succeed in school.

How much does parental involvement affect student achievement? ›

Students that have involved parents had better attendance, self-esteem, and graduation rates. Connections between parents and teachers are more than just a nice-to-have in the classroom. They are critical in assisting children in reaching their academic potential on a personal and classroom level.

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