By Tim Collins For Mailonline
Published: 17:57 BST, 12 April 2019 | Updated: 02:09 BST, 13 April 2019
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Earning more than your parents has been a marker of success for more than 50 years but just a third of 30 year olds bring in a higher salary than their dads, experts say.
Researchers found that more than half of men and women aged 30 earned more than their fathers in 2005.
That figure began to drop from 2007 onwards, at the start of the last decade's financial crash, with earnings falling in real terms ever since.
Earning more than your parents has been a marker of success for more than 50 years but just a third of 30 year olds bring in a higher salary than their dads, experts say. Researchers found that more than half of men and women aged 30 earned more than their fathers in 2005 (stock)
Experts from the University of Surrey used estimates of earnings from the Family Expenditure Survey and Labour Force Survey from 1968 onwards.
They also information from the British Cohort Study on the link between parents’ and children’s earnings for those born from 1970 onwards.
They used this to examine the concept of ‘absolute mobility’ – the proportion of people earning more than their parents.
They found that the fall in earnings since the start of the financial crash was the biggest influencing factor.
If weekly earnings had continued to grow at two per cent each year since - following the pre-2008 trend - the proportion of young adults exceeding their
