If income is the most important source of class and status, education is a close second. Frequently, the two are interrelated: Those with higher education achieve a higher income. However, education has a value of its own, as can be seen in the figure below, where some low-paying jobs clearly outrank high-paying ones. For example, the average income of a scientist is just above half of the average lawyer’s paycheck of $95,000. Overall, the graph shows a correlation of education and social prestige, i.e.,
jobs requiring high education enjoy high social prestige.

How does social prestige play out for your child? Besides the immediate satisfaction she may gain from the respect her peers will pay her, she may also see long-term benefits: a recent study showed that people who enjoy higher status have an increased life expectancy, and this increase has nothing to do with the financial or material benefits that come with status, but is probably a direct benefit of the status itself. Following the fashions of the educational elite is therefore a promising strategy.