In the 18th century the wealth had been built on shipping, trade, and real estate. Despite the later generations' inheritance they were expected to pursue a career. The acceptable careers in Philadelphia were medicine and law, with insurance, banking, and brokerage next in line on the ladder of acceptability. Running the family business was also acceptable especially if it related to iron and steel making, coal, and the railroads. Beyond their careers, the Philadelphia elite strived to have a seat on a board, particularly as the chairman of the board. Business boards such as the boards for the Pennsylvania Railroad and Philadelphia Savings Fund Society were important, but so were charitable, institutional, cultural and social boards.