Hotties Make the Big Bucks
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According to a recent news report, the Federal Reserve has concluded that ‘good looking’ people tend to make more money. In fact, there is evidence of a ‘plainness penalty’ of up to 9%, and a ‘beauty premium’ of up to 5%. In other words, the unattractive make as much as 9% less than people with average looks, whereas the ‘beautiful’ make up to 5% more.
On top of this disparity, the Fed found evidence that better looking employees are more likely to receive promotions than are their less attractive brethren. I guess it’s no wonder that a looker like Alan Greenspan would be able to work his way to the top of the organization that sponsored the study! No word as to whether or not the difference had to do with discrimination on the behalf of employers, or if better looking people are simply more self confident and therefore more marketable.
Apparently the lesson here is that if you want to be successful, don’t be ugly.
Published on May 2nd, 2005 - Leave a Comment
Filed under: Working
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
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