What types of jobs do people who own homes in the Wayne/Villanova/Rosemont area have to obtain that kind of wealth? (Philadelphia: real estate, lawyer)

[fibonacci]

Just curious if that money has been passed down or if most of that insane wealth simply comes from working. If it is the latter, what professions do those people have, other than being doctors? Are there really that many high paying industries in the greater Philadelphia region?

[BPP1999]

Originally Posted by fibonacci

Are there really that many high paying industries in the greater Philadelphia region?

No, there aren't, there just happens to be zip code after zip code of higher income people, across several counties.

[KevinE]

Originally Posted by fibonacci

Just curious if that money has been passed down or if most of that insane wealth simply comes from working. If it is the latter, what professions do those people have, other than being doctors? Are there really that many high paying industries in the greater Philadelphia region?

Dual income professionals leveraged to the hilt, mostly working in and around the healthcare profession.

[Duderino]

Originally Posted by BPP1999

No, there aren't, there just happens to be zip code after zip code of higher income people, across several counties.

LOL. I detect a little bit of sarcasm, but yes, clearly in a major metropolitan area like Philadelphia you're going to find a high concentration of well-paying professions across diverse industries. Having a good amount of legacy, "old money" wealth doesn't hurt, either.

The fact that the Philly region is home to one of the largest agglomerations of affluence--frankly on a world level--I guess comes as a surprise to some people unfamiliar with the area.

[1ondoner]

Most of these homes are owned by professionals across all industries - legal, medicine, banking, finance, pharmaceuticals, engineering, government employees, entertainment, business owners, media, etc

What is more surprising is the large number of horse properties in the Philly region.

Originally Posted by fibonacci

Just curious if that money has been passed down or if most of that insane wealth simply comes from working. If it is the latter, what professions do those people have, other than being doctors? Are there really that many high paying industries in the greater Philadelphia region?

[StayingAfterSunday]

Originally Posted by fibonacci

Just curious if that money has been passed down or if most of that insane wealth simply comes from working. If it is the latter, what professions do those people have, other than being doctors? Are there really that many high paying industries in the greater Philadelphia region?

Many years ago I worked for a large, prestigious law firm in center city, Philadelphia. The majority of lawyers who worked in that firm lived on the Main Line (which is comprised of the towns you listed in your post, as well as others that you didn't mention). These lawyers had last names like, "Drexel, Montgomery, Ballard, and Milne," just to name a few.

A great number of those attorneys were what some people referred to as, "Blue bloods," people who descended from socially-prominent families. The term "old money" was also associated with those families.
To this day, my only contact with Philadelphia's social-register population has been limited to the lawyers at PH&S, so I don't know what other professions people from that area tend to hold other than positions in law and, as you mentioned, medicine.

[BPP1999]

Originally Posted by Duderino

LOL. I detect a little bit of sarcasm, but yes, clearly in a major metropolitan area like Philadelphia you're going to find a high concentration of well-paying professions across diverse industries. Having a good amount of legacy, "old money" wealth doesn't hurt, either.

The fact that the Philly region is home to one of the largest agglomerations of affluence--frankly on a world level--I guess comes as a surprise to some people unfamiliar with the area.

The frustrating part is that it shouldn't be a surprise, though. My company has hundreds of clients throughout the Main Line - mostly the Western Main Line, actually - and many of them are: doctors/surgeons/heads of hospitals, business executives, lawyers, partners/owners of consulting firms, pharmaceutical execs and scientists, real estate builders and developers, financial advisors, and new venture start-up people. Some, perhaps many, have inherited their money, but others have started with little. Some Main Liners are descendants of founders of some of the most well-known companies in the nation (Campbell's Soup, DuPont, The Pennsylvania Railroad, etc.). Quite a few are originally from somewhere else, and more than a few are from other countries.

There are also big pockets of wealth in the city (Chestnut Hill, Center City) and throughout the remaining suburbs (Blue Bell/Gwynedd/Upper Dublin/Fort Washington/Whitemarsh in Montgomery County, Doylestown/New Hope/Newtown/Yardley in Bucks County), etc.

Why does the Philadelphia region have to explain its wealth?

[JacksonPanther]

Originally Posted by BPP1999

Why does the Philadelphia region have to explain its wealth?

You don't think OP has a legit question?

If you want to live on the Main Line and the lifestyle that encompasses, what's wrong with asking what it takes to get there?

To answer the question, yes some of the project the are descended from wealth. Others have leadership positions in the field you already know of.

You can't just be a surgeon, you must be chief surgeon. Not just a lawyer but a ranking partner in a firm. Not just an engineer, but a director or VP, someone with a contract, not a salary. Many of these people have an MBA as well as degrees in their field. Even doctors who to run a hospital chain will have MBAs.

So a combination of credentials, along with leadership positions in your field. Regular grunts, even earning six figures, won't get you to the Main Line. Just a doctor in the ER? Nope.

[cpomp]

These ignorant threads annoy me. One of the oldest and largest metro areas in the nation, yet someone asks a totally asinine question as to why there is so much wealth outside of Philadelphia.


Do people ask this about Boston, Chicago, San Fran?? No, he/she is simply looking to start trouble/totally ignorant to other regions of the country.


I have never been to Chicago, but of course I know there is a ton of wealth in that area, its common sense.


On a side note, I know a lot of people from all over the country who went to Villanova U, and were totally shocked at the incredible amount of money they saw up and down the Main Line (specifically Villanova) during their time there. I think the Main Line falls under the radar but certainly can run with its more well known counterparts like Beverly Hills, Fairfield County, Bergen County, etc.

[1ondoner]

Beverly Hills on in a class of it's own. Nothing comes close. $1 million won't get you a parking spot.

Originally Posted by cpomp

These ignorant threads annoy me. One of the oldest and largest metro areas in the nation, yet someone asks a totally asinine question as to why there is so much wealth outside of Philadelphia.


Do people ask this about Boston, Chicago, San Fran?? No, he/she is simply looking to start trouble/totally ignorant to other regions of the country.


I have never been to Chicago, but of course I know there is a ton of wealth in that area, its common sense.


On a side note, I know a lot of people from all over the country who went to Villanova U, and were totally shocked at the incredible amount of money they saw up and down the Main Line (specifically Villanova) during their time there. I think the Main Line falls under the radar but certainly can run with its more well known counterparts like Beverly Hills, Fairfield County, Bergen County, etc.