Canadian economist Miles Scorak who teaches at the University of Ottawa describes the connection at his blog, summarizing the findings of a study he conducted with Patrizio Piraino about a cohort of young Canadian men and their fathers:
The bottom line is that about 40% of us have at some point worked for exactly the same firm that at some point also employed our fathers. But if dad’s earnings put him in the top 25% these chances are above average, they start taking off if dad was in the top 5%, and reach the stratosphere for top earners. Almost 7 out of 10 sons of top earning dads had a job with his employer.
All parents want to help their children in whatever way they can. But top earners can do it more than others, and with more consequence: virtually guaranteeing, if not a lifetime of high earnings, at least a great start in life.
