🗞️ Based on reporting by The Wall Street Journal (May 3, 2025)
Original Source: WSJ Article
💼 The Shift: From Law Degrees to Tech Paydays
A new Wall Street Journal analysis uncovers a striking economic transformation among millennials: The highest earners in this generation are not necessarily doctors and lawyers, but coders, analysts, and consultants—especially those clustered in powerhouse cities like San Francisco, New York, and Seattle.
According to 2023 Census Bureau data reviewed by WSJ reporters Joe Pinsker and Paul Overberg, millennials in tech and finance are now four times more likely to be in their generation’s top 5% of earners, compared to other professions. That means an annual income of over $300,000 places them among the elite.
🧠 Key Insights:
- 🔍 Narrowed Paths: Success now flows through a few elite schools, top firms, and superstar cities.
- 📉 Decline of Traditional Professions: Millennial doctors and lawyers are less likely than their boomer counterparts to hit top earning brackets.
- 🌍 Diversity Rising: High-earning millennials are more likely to be from diverse racial backgrounds and born outside the U.S.
- 🚀 Fields That Dominate: Tech, finance, engineering, and consulting account for over 50% of wage gains between 1996 and 2018.
- 📍 Location Matters: Regions like California and Washington state now house more than 20% of all top-earning millennials.
👥 Real Stories, Real Data
The article features personal accounts from millennials like:
- AJ Debole, who pivoted from law to cybersecurity after struggling post-law school.
- Ryan Haugh, who skipped med school, joined the Navy, and made it into the upper class through consulting.
- Chirranjeevi Gopal, who moved from India to Silicon Valley to launch a battery-tech startup.
These stories illustrate how ambition, location, and industry choice are shaping new pathways to wealth in America.
📣 What This Means for the Future
The WSJ article warns that this economic “re-sorting” may lead to long-term instability if the few dominant cities or industries falter. However, it also shows millennials are resilient, adaptable, and increasingly carving out new opportunities in high-growth sectors.
📌 Read the Full Story
For in-depth profiles, charts, and expert commentary, read the full WSJ article here:
👉 Millennials Are Making Their Millions Differently