Here’s what it takes to be part of the 1%: Start out rich (and have rich friends)

What does it take to make into the 1%? A fancy college degree and a family that’s already there (or close to it), new research finds.

Within the group of students who took Chile’s national college exam since 1980, the 1.8% who were admitted to six programs at two elite colleges in Chile since 1980 made up more than 40% of directors and top managers in the country and 38% of the top 0.1% of the income distribution between 2005 and 2013, according to a paper published Monday by the National Bureau of Economic Research, a nonprofit economic research organization.

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