Good Looks Means More Money
When it comes to the amount you're paid, your looks may count. Each inch taller can be worth a 2.6% increase in pay, being "beautiful" can add 5% to your wages and staying slender can mean 17% more money at work.
This comes from an analysis by the Federal Reserve Bank of St. Louis published in the April edition of The Regional Economist, the Federal Reserve's quarterly magazine. The analysis came to the conclusion that people with good looks tend to make more money than people with average looks. Good looking people also tend to get promoted more often.
The analysis was conducted by researcher Kristie Engemann and economist Michael Owyang. They evaluated a number of previous studies looking for links between appearance and wages and came to the conclusion that being tall, slender and attractive is beneficial to your wallet.
In coming to these conclusions, the researchers cited a study that indicated an earnings penalty for "looking plain" of 9% compared to those people with average looks. The study also found a 5% earnings premium for people considered beautiful over those that were average looking.
Another study cited in the article on weight showed that women who were obese earned 17% less at work than women who were of average weight.
For their conclusion that height plays a part in people's earning power, they analysed a study on the height of 16-year-olds and the amount of money they earned later as adults. This yielded information that for every additional inch in height, the teens went on to earn an average of 2.6% more than those shorter. They also cited a survey by journalist Malcolm Gladwell which showed that the average chief executive is 3 inches taller than the average man.
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