Tuesday, December 27, 2011

How do the rich earn their livings?

Here is an interesting paper that answers the question.  Some highlights from Table 3 about the top 0.1 percent:
  • 18 percent are financial professionals.
  • 42 percent are executives, managers, or supervisors in nonfinancial businesses. More than half of those are in closely-held (presumably often small) businesses.
  • 7 percent are lawyers.
  • 6 percent are in medicine.
  • 3 percent are in arts, media, or sports.
  • Less than 1 percent are professors or scientists.  :(