The Ethnic Segmentation Series is a collection of quarterly reports on the similarities and differences between affluent investors from the African-American, Asian and Hispanic communities.
While 21 percent of African-American investors were educators, only 13 percent of Hispanics and 12 percent of Asians listed “educator’’ as their occupation.
Hispanics were led by “managers’’, the occupational choice in which 15 percent placed themselves. The same was true of African-Americans, but only 11 percent of Asians listed “manager’’ as their occupation.
Asians were led by “professionals’’, with 13 percent making that choice.
Among African-Americans, the top four occupations were educator (21 percent), manager (15 percent), healthcare (9 percent), and professional (7 percent). Information technology and senior corporate executive each garnered 5 percent of the respondents.
Among Hispanics, the top five were manager (15 percent), professional (14 percent), educator (13 percent), with healthcare and information technology tied for fourth at 8 percent.
After “professional” with 13 percent, Asians had 12 percent of respondents as educators, 11 percent in information technology, 11 percent as managers and 10 percent in healthcare.
In terms of the number of adults working in a household, 63 percent of Hispanics reported both parents worked full-time, the highest percentage among the segments. Sixty-one percent of African-Americans had both adults working, and 58 percent of Asians were a two-income household.
When compared to the respondents who were not among any of the three studied segments, 55 percent were two-income households, well below any of the ethnic segments.
African-Americans are more concerned than other ethnicities about losing their job. Forty-four percent of African-Americans said that was a personal concern of theirs, while only 38 percent of Hispanic and 39 percent of Asians feel that way. Only 32 percent of affluent investors not among the three ethnicities report fear of losing their job as a personal concern.
For more information on Spectrem's ethnic segmentation series, click here