Your friends can affect your income, especially over a lifetime. One of the largest studies of friendship ever done found that children from low-income families who grew up in places with more friendships across income lines tended to earn more as adults.

What the research says

In 2022, economist Raj Chetty and colleagues published research in the journal Nature using data on billions of Facebook friendships in the United States. They measured "economic connectedness," how many friends lower-income people had with higher incomes.

They found that economic connectedness was one of the strongest predictors of upward income mobility they studied. Places where low-income children had more friendships across income lines were places where those children tended to earn more as adults.

What the research can't say

The study shows a strong link at the level of communities, not proof that any one friendship will raise your pay. It also can't separate all the reasons. Cross-class friendships may bring information, job leads, different expectations and examples, or all of these.

Why it might work

Friends pass along job openings, advice and examples of what's possible. If no one you know has started a business, asked for a raise or invested, those things feel far away. When people around you do them, they feel normal.

The habit: widen your circle with intention

This isn't about using people. It's about putting yourself where you can learn and help in return.

  • Join groups where people are a step ahead of you in skill or career.
  • Ask good questions and listen more than you talk.
  • Offer help first, such as your skills, your time or an introduction.
  • Stay in touch with people you meet, not only when you need something.

The rule that makes it stick: one new conversation a month

Set a simple rule: one real conversation each month with someone whose work or life you'd like to learn from. Over a few years, that becomes a different circle.

This week

Find one group, event or person a step ahead of you, and make one contact.

The keep

Widening your circle costs some comfort and a little courage. It brings information, examples and opportunities you couldn't have found alone.

This article is for education only and isn't financial or career advice.

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