I love looking at baby names and as I’ve said before, I like going for the new and unique. Many of us look at the meaning of the name, the spelling, the typical gender it’s given to, and the origin before we give the official name to our baby-to-be. It’s one of the big first decisions we make as a parent, and the last thing we want is for our child to grow up hating their own moniker.
When we think about our children, we want them to grow up to be healthy, happy and successful. For some, success is defined in the typical way — how well someone does in their career and how much money they make. The online career site, TheLadders, analyzed data around first names from TheLadders’ nearly 6 million members against variables such as industry, salary level, and location and showed that first name really does matter.
They found a few things that I think are quite interesting using their data. Women made on average 22% less than their male counterparts, a statistic that I’ve heard before. One stat that I haven’t heard before reading their findings was that for each additional letter in a first name, accounts for a $3,600 drop in salary — for each letter. When it came to nicknames verses real names (like Bill in place of William), the shorter nickname still proved to make more salary each year. Additionally, people who have a name that is on one of the top 25-most popular names lists tend to make on average, $7,000 more a year than the names on the rest of the list. Who knew?
In the spirit of this study, let’s take a look at some baby names that, if this study is true, could help your child earn more income as adults:
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