46% Of Tech Professionals Send Salary To Their Families

July 1, 2020

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By Jacob Wolinsky. Originally published at ValueWalk.

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:

Q1 2020 hedge fund letters, conferences and 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

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

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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