Is nepotism more common than you think?

From a post by Miles Corak, via the Twitter feed of Tim Harford, author of the excellent book “Adapt: Why Success Always Starts with Failure“:

The bottom line is that about 40% of us have at some point worked for exactly the same firm that at some point also employed our fathers. But if dad’s earnings put him in the top 25% these chances are above average, they start taking off if dad was in the top 5%, and reach the stratosphere for top earners. Almost 7 out of 10 sons of top earning dads had a job with his employer.

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