46% Of Tech Professionals Send Salary To Their Families

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46% Of Tech Professionals Send Salary To Their Families

One remarkable sign of the racial inequities plaguing the United States is the fact that the wage gap between black and white men is as large today as it was in 1950. On Blind, an anonymous professional network with 3.6+MM verified users, we wanted to gauge the financial obligations of tech professionals, across racial lines. We asked our users the following questions:

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stocks performance 1651757664Qualivian Investment Partners performance update for the month ended July 31, 2022. Q2 2022 hedge fund letters, conferences and more Dear Friends of the Fund, Please find our July 2022 performance report below for your review. Qualivian reached its four year track record in December 2021.  We are actively weighing investment proposals. Starting in November Read More

Key Learnings 06/25-06/30 (2,586 Answers)

The Percentage Of Salary That Professionals Send To Their Families

  • Do you send money to your family?
    • 46% of surveyed professionals send money to their families
      • 22% of surveyed professionals send money monthly
      • 24% of surveyed professionals send money, but not regularly
    • Only 28% of white professionals send money to their families
      • Compared to 70% of Asain professionals
      • Compared to 75% of Black professionals 
      • And 62% of LatinX professionals
    • As a percentage, how much of your annual salary do you send to your family?
      • 46% of surveyed professionals send 0-5% of their annual salary to their families
        • Compared to 68% of LatinX professionals end 0-5% of their annual salary to their families

salary family

  • 25 % of surveyed professionals send 6-10% of their annual salary to their families
  • 15% of  surveyed professionals send 21+% of their annual salary to their families
    • .Only 4% of white professionals send 21+% of their annual salary to their families
      • Compared to 16% of Asain professionals

wage gap

Do Professionals Suffer With Financial Contraints After Sending Money To Their Family

  • If you send money to your family, do you still have enough money for yourself?
    • 16% of surveyed professionals answered  “Yes, for leisure activities only”
  • 67%of surveyed professionals answered  “Yes, for leisure and investments

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)www.valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver
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