Indians are highest-earning ethnic group in USA: Harsh Goenka explains why (2024)

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Indians are highest-earning ethnic group in USA: Harsh Goenka explains why? ›

As per Goenka, Indians shine in America because Indians value good education and are the most educated ethnic group. At the same time, they work very hard along with being frugal in their habits and are in IT, engineering and medicine - the highest-paying jobs. Also, it's because “We are smart”, he added.

While Asians overall rank as the highest earning racial and ethnic group in the U.S., it is not a status shared by all Asians: From 1970 to 2016, the gains in income for lower-income Asians trailed well behind the gains for their counterparts in other groups.

According to the latest US Census data, the Indians now have an average household earning of $123,700, i.e a little over ₹1 crore, PTI reported. The median earnings of the Indians there is nearly double the nationwide average of $63,922.

In 2021, households with a White householder made up 65.3% of all U.S. households and held 80.0% of all wealth.

Asians have the highest median household income of all race and Hispanic origin groups.

So Indian Americans both first and second generation have educated parents who speak fairly decent English at the minimum. This helps them achieve more and have wealth and resources for their kids and they integrate well. All of this plays a part in the success of Indian Americans.

White and European Americans are the majority of people living in the United States. White people are defined by the United States Census Bureau as those "having origins in any of the original peoples of Europe, the Middle East, or North Africa".

American Indians have historically lived in extreme poverty. With the rise of Indian gaming enterprises, the problem of poverty may have been variously addressed in select areas. Yet, while Native Americans have begun to take more control of their tribal economies, poverty on Indian Reservations is still a major issue.

Bureau of Indian Affairs (BIA) Financial Assistance and Social Services provides cash assistance for food, clothing, shelter, childcare, and utilities. Additional services are available to help you find employment. Contact your BIA Regional Office to find a provider and apply for help.

The International Monetary Fund states the 2023 U. S. per capita GDP at $80,412. India is $2,612. For comparison, Mexico is $13,804. That makes the U. S. 30 times richer than India on a per capita basis.

What race are most millionaires? ›

Nearly 86% of millionaires are white. That's not constrained to just millionaires: According to the Federal Reserve, a typical white family's wealth dwarfs that of typical Black and Hispanic families, with the white family's wealth six and five times higher, respectively.

38% Black or African American. 43% Hispanic or Latino.

Asian Americans, with a population of around 1.8 crore, are the highest-earning ethnic group in the USA. The median household income for Asian-Americans stands at $87,243. However, Indians are the leading ethnic group among Asian-Americans.

According to a 2014 study by the Pew Research Center, Jewish again ranked as the most financially successful religious group in the United States, with 44% of Jews living in households with incomes of at least $100,000, followed by Hindu (36%), Episcopalians (35%), and Presbyterians (32%).

In the latest census done in August 2022, the average household earning of Indians in the US stands at $123,700, which is far higher than other immigrants, PTI news agency reported. Not only that, Indians are also ahead of other Asian communities in the US in median family earnings ranges.

For example, in the United States, Nigerian-Americans are among the most successful immigrant groups, topping the charts in a wide array of fields.

The top 3.65%, with incomes over $200,000, earned 17.5%. Households with annual incomes from $50,000 to $75,000, 18.2% of households, earned 16.5% of all income. Households with annual incomes from $50,000 to $95,000, 28.1% of households, earned 28.8% of all income. The bottom 10.3% earned 1.06% of all income.

Asian Americans had the highest educational attainment of any race, followed by whites who had a higher percentage of high school graduates but a lower percentage of college graduates. Persons identifying as Hispanic or Latino, without regard to race, had the lowest educational attainment.