Pondering the level of compensation transparency you have with your parents, and if any correlation exists between a family’s “culture” and the extent of compensation transparency...

Do your parents know (or at least have a pretty good idea) how much 💵💴💶💷 you make?

Either way, what family culture (if any) influences the transparency (or lack thereof)?

E.g., my parents / siblings never talk / know about our current compensation - I was raised in a white upper-middle class household

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I’m Indian. Raised in a lower middle class household until about 15/16 when my parents both hit some success pushing us firmly into the middle class.
My parents and brother know exactly how much I make and I know them (and have known since I was a child), I run all job offers through my parents as a sounding board

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Also Indian. Similar economic background. And same exact situation on salary. They’re the first to hear when I get an offer and are my sounding board as I go through negotiation. Happens other way for siblings as well. The family can only all rise up if we support one another on these matters.

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Out of undergrad I was super transparent. That’s fallen off as I’ve gotten older. I don’t think they appreciate the jump I got post MBA so I would guess they still think I’m closer to post undergrad range

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Sorry, a better word there probably would be “realize”

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East Asian here, I don’t know about other Asians but in my family we are one entity. My parents paid for college and my MBA, so I graduated with no debt and never had to work random jobs. So yes of course I tell them exactly how much I make down to the dollar, just so they know that I’m on my own two feet now and they don’t have to worry about my finances. It’s not like I make some insane amount of money; it’s just a number and it’s not that big a deal.

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Korean here... not only does my mom knows my salary but she tells my aunts and uncles...🤷‍♀️

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My parent's generation is basically all blue collar and my generation are mainly all white collar work so they are all fascinated on how much their kids make compared to them.

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My fiancé bought a purse and had it shipped to my parents house to avoid sales tax. My parents saw the price of the purse and know we have quite high incomes. But we’ve never talked numbers.

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I stopped sharing the closer I got to making more than my dad haha

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I tell my dad everything and he tells me everything. I hope to have the same relationship with my kids one day but will also work to respect them as people if they choose not to share.

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My parents compensation is comprised ~25% on bonuses so I never know (or really care to know) the exact specific dollar amount each year, but I do know the general amount and they always tell me (excitedly) when they get raises and whatnot. I’ve also told them every time something changes with my compensation. Only 2yoe though so it may taper off as I get older, as others have said

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Same upbringing. At least from my personal experience, the wealthier you are, especially if it’s multi generational, the less you actually talk about it.

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I’ve told my parents the number when they asked, though they don’t know specifics on bonus / retirement etc. When telling them about exit opps, they’ll ask if the comp is as good or better than what I get now. Because my dad owns a business, I’ve never really known his “take home pay”, just inferred based on spending habits.

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Out of college I was pretty transparent but now they don’t ask unless I start a new job. For the first half of my child hood we were poor as my parents were going to college and working minimum wage since their degrees from the USSR didn’t matter here but they worked their way up and we moved up to the upper middle class as they climbed the corporate ladder but they were always open about money with me from times we couldn’t afford nice thing to when we could, so if they ask I tell them, for them I think it makes them proud etc.

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Yes it’s totally a cultural thing. Money is almost never discussed in my family or my wife’s family and definitely not specific dollar amounts. In our families it’s considered gauche to talk specifics. Asking for specifics would be considered extremely rude.

For example, we know that her parents and remaining grandparent have made plans so that we won’t need to provide for them or personally take care of them but nothing beyond that.

Our kids know we will pay for their undergrad, but have no idea even to the nearest 100k what our income or net worth is. Growing up it was the same for me and my wife.

We come from white upper middle class backgrounds if you haven’t figured that out already.

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Grew up in a white, upper middle class family. One parent was blue collar growing up and the other firmly middle class.

I have been transparent with my parents so far about income as I know they are both financially responsible so I like to ask their opinions on matters. I do not plan to not ever be transparent and I would more than willing help support them down the road but do not expect to have to.

Regarding their income, only one works and we started having the discussion on money a few years before college. I know the rough range of income for our family but wildly unsure of net worth. I think one parent was transparent with their parents about income and the other was not but I am not sure.

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We never really discussed it growing up. My dad was constantly worried about money though we were never worried about being truly poor. He grew up lower middle class and his immigrant parents were really frugal. Now I think he has a decent idea that I make good money but probably doesn’t appreciate my actual net worth. I’ve told him I was thinking about taking a year or two off work or retiring at 50 and I think he nearly had a heart attack.

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Parents never talked about money. Upper middle class. I finally asked my dad what his approximate salary was when I graduated college so I would have some idea of what it would take to maintain a similar lifestyle. He gave me a round number and that’s really the last time we talked it. It’s been years since my parents know what my salary is. But they can pretty much guess having been in corporate executive jobs.

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My parents know exactly what I make and what my sister makes. My brother is cagey about it as he doesn’t want my parents involved with his professional and financial part of his life. I was raised in a white upper class family, even though I wouldn’t have known it then and my parents would still not classify it that way. Both of my grandfathers were self made success stories and lived successful middle class lives with comfortable retirements. Money was never talked about growing up, my parents could afford a lot, but didn’t throw money around and didn’t spoil us at all(my mom was famously frugal and loved hand-me-downs). The main thing that we had knowledge of was that undergrad and grad school was taken care of tuition wise regardless of how expensive it was(I never wanted to be beholden to them for this so I paid my own way through undergrad an graduate using scholarships and work study programs). Interesting enough, we still don’t talk about what my dad made money wise much except how poor he was in grad school and he and my mother worked together for his career which ended up being quite successful. The only time I’m brought behind the curtain is to assist in their financial planning as I’m looked to as the child that will have to manage the estate of my dad dies before my mom and to help my brother and sister understand some of the more complex financial plans that they’ve done. As my wife doesn’t like my family knowing our financial business, we’ll likely fade out from talking about it with my parents which I think they’ll respect. My parents’ main concern was making sure their kids were financially independent. My family is still tight knit, but wealth, salary, etc is still a taboo conversation at the dinner table when we’re all together.

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My parents know exactly how much I make. My parents immigrated from SE Asia to the US and have grown to upper-middle class, but they started from really modest backgrounds. My mom was lower-middle class growing up, but my dad was really poor when he was a child...like, couldn’t afford shoes all the time type of poor.

When I started working, my dad teased me to “see how long it would take me to make more than him.” I took it as a challenge and now I’m proud to tell both my parents how much I make. I like to think it makes them proud to know how much I’ve achieved with the sacrifices they’ve made as my platform.

My parents don’t know how much I make and don’t ask/care as long as they don’t have to support me.

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