Income

Below are questions pertaining to Reed students' feelings about finances and income level

How would you rate your financial situation? (most Reed students'...)

Year: 2015
Scale: 0 = Extremely poor, 2 = Poor, 5 = Neither poor nor wealthy, 8 = Wealthy, 10 = Extremely wealthy

Actual norm = 5.93 (SD = 2.12)
Perceived norm = 7.05 (SD = 1.43)
p < 0.0001, significant

Participants report that they are significantly less wealthy than the average Reed student.

What is your current working status? / What percentage of Reed students do you think are employed and work more than 10 hours a week?

Year: 2008

Not Employed = 87 (43.3%)
Estimated % working more than 10 hours/week = 27.69%

t(198) = 12.38, p < .0001, significant

< 5 hours/week:         28 (13.9%)                 
5 – 10 hrs/week:         60 (29.9%)                                         
11 – 15 hrs/week:        11 (5.5%)
16 – 20 hrs/week:       9 (4.5%)
> 20 hours/week:        5 (2.5%)
Missing:                       1 (0.5%)

What is your parents’ income level?

Year: 2008
Scale: Less than $15,000, $15,000-$30,000, $30,000-$60,000, $60,000-$100,000, $100,000-$200,000, $200,000-$400,000, More than $400,000

Actual norm = 3.96 (SD = 1.45)
Perceived norm = 4.60 (SD = 0.76)
p < 0.0001, significant

Participants report that their parents’ annual income is less than the typical Reed student’s parents’ income.

How much do you spend when eating out?

Year: 2008
Scale: Less than $5, $5-$10, $10-$20, $20-$30, More than $30

Actual norm = 2.64 (SD = 0.76)
Perceived norm = 2.85 (SD = 0.73)
p < 0.0001, significant

Participants report that they spend less when eating out than the typical Reed student.

How many times in a month do you eat out?

Year: 2008
Scale: 0-1, 1-3, 3-6, 6-10, 10-20, More than 20

Actual norm = 2.16 (SD = 1.00)
Perceived norm = 2.67 (SD = 0.79)
p < 0.0001, significant

Participants report that they eat out less often than the typical Reed student.

How many much spending money do you receive from your parents each month?

Year: 2008
Scale: $0, $0-$50, $50-$100, $100-$200, $200-$300, More than $300

Actual norm = 1.97 (SD = 1.36)
Perceived norm = 3.19 (SD = 1.21)
p < 0.0001, significant

Participants report that they receive less spending money from their parents than the typical Reed student.

How comfortable are you with “wearing” your socioeconomic status?

Year: 2008
Scale: 1 (Completely uncomfortable) to 7 (Completely comfortable)

Actual norm = 4.55 (SD = 1.82)
Perceived norm = 3.96 (SD = 1.51)
p < 0.0001, significant

Participants report that they are more comfortable with “wearing” their SES than the typical Reed student.

If you have a job while at Reed (on or off campus), how many hours per week do you work? / In your opinion, how many hours per week does the average Reed student work while at Reed (on or off campus)?

Year: 2007

Actual norm = 2.53 (SD = 0.92)
Perceived norm = 2.39 (SD = 1.30)
t(159) = 1.00, p < 0.32, not significant

Participants report that they work about as many hours per week as the average Reed student.

How often do you decline social events due to financial constraints?

Year: 2007
Scale: 1 (never) to 7 (often)

Actual norm = 2.36 (SD = 0.98)
Perceived norm = 2.09 (SD = 1.28)
p < 0.02, significant

Participants report that they decline social events due to financial constraints more often than the average Reed student.