This article investigates the extent to which parental values differ between social groups in the UK at the start of the twenty‐first century. The study of parental values is an important area of sociological enquiry that can inform scholarship from across the social sciences concerned with educational inequality and cultural variability in family life. We draw on data from the Millennium Cohort Study to show how parent’s social class, religion, religiosity, race and ethnicity, and education are related to the qualities they would like their children to have. Our rank‐ordered regression models show that parents in service class occupations place significantly more importance on ‘thinking for self’ than ‘obey parents’ compared to those in routine manual occupations. We also show that although class matters, the relationship between education and parental values is particularly strong. Parenting values also differ by parental racial and ethnic background and by levels of religiosity.