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Featured Advisor



Srbo Radisavljevic
Managing Principal/Investment Advisor

Edge Portfolio Management

City:Northbrook

State: IL



BIOGRAPHY:
At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, following Chicago sports, enjoying ethnic cooking, and serving as a school board member for Norridge School District 80.

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Fathers Make More Money

Men with children are more likely to be employed in full-time jobs then men without children, a City University of New York study shows.

| BY Kent McDill

You are a father, and perhaps you sometimes ask yourself whether having children didn’t hold you back professionally in some way.

Then you read this story about a study done by the Graduate Center at City University in New York and realize that the kids provided more benefits than penalties.

The study, looking at income from employed Americans in 2010, found that men with children earned much more than men without children. It also noted that men with children made almost twice as much as women with children.

According to the study, fathers had a median salary of $49,000 and men without children had a median salary of $29,000. Median personal income for mothers in 2010 was approximately $25,000, almost half of the father’s salary, and childless women made just $20,165.

There were statistical anomalies in the study. Fathers tend to be older and thus have been in the workforce longer, with attendant raises in salary adding to their median income. However, when the study examined just salaries for men ages 35 to 49, the difference still existed, as fathers had a median personal income of $54,500 and childless men in the same age group had a median personal income of just $36,000.

There was also a study anomaly related to women, because mothers set their salary level before becoming mothers and then maintain that salary after becoming a parent. Childless women in most cases are younger and climbing the employment ladder.

Fathers also tend to have full-time jobs. The study showed that 92 percent of fathers were employed full-time, and thus making more money, while 77 percent of childless men were employed full-time. Fathers also tended to have more management and professional jobs; childless men were more often in sales or office positions.

“Parenthood is giving advantages to men but not to women,’’ said report author Justine Calcagno, a social psychologist.

Meanwhile, a recent Pew Research study shows that fatherhood is affecting a man’s employment status in another way. According to the Pew study, there were two million stay-at-home dads in 2012, up from 1.1 million in 1989, with many of them staying home because they cannot find work, while others are working at home and caring for their families while their wives leave home for work.

Men now make up 16 percent of stay-at-home parents, according to Pew.



About the Author


Kent McDill

kmcdill@spectrem.com

Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.

In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.

McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.

McDill is the father of four children, and an active fan of soccer, Jimmy  Buffett and all things Disney.