There are differences between the occupations of high net worth men and women.
Although the employment landscape for men and women continues to evolve, there remains a huge difference in the jobs men and women do.
From Spectrem research studying the differences between High Net Worth Men and Women, “manager’’ is the occupation with the most male investors (18 percent) while “educator” had the highest representation among women (19 percent). Reversing the numbers, there were 10 percent of women who were managers (the second-highest occupation) while there were 10 percent of male educators (also second, tied with information/technology careers).
After “manager”, “information/technology’’ and “educator’’, the top occupations for men were “senior corporate executive” (7 percent), “entrepreneur/business owner” (6 percent) and “consultant” (6 percent).
The top five occupations for women investors were “educator’’, “manager”, “health care” (10 percent), “homemaker” (7 percent) and “information/technology” (6 percent).
The research looked at three different wealth segments: Mass Affluent (with a net worth between $100,000 and $1 million, not including primary residence), Millionaire (with a net worth of between $1 million and $5 million NIPR), and Ultra High Net Worth (with a net worth between $5 million and $25 million NIPR). There were differences in the occupation percentages based on wealth segment, especially at the UHNW level.
For men, the top occupation for UHNW investors was “entrepreneur/business owner”, with 16 percent in that occupation. “Senior corporate executive” was second with 14 percent, and then came “manager” (10 percent), “attorney” (9 percent) and “information/technology” (8 percent). “Educator” dropped out of the top five.
The differences were not that stark among women, although “health care’’ and “homemaker” both dropped out of the top five. Among UHNW women, the top job again was “educator’’ with only 12 percent, followed by “entrepreneur/business owner” (10 percent), and “manager” (10 percent).
Among Millionaire investors, the top job for men was “manager’’, with 21 percent, followed by “information/technology’’ at 11 percent. For women, yet again the top category was “educator’’ with 22 percent, the highest percentage among all three wealth segments of any occupation.
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.