Do Smarter People Make More Income?

[disneysteve]

Below average intelligence and has no business cutting on people while they are asleep?

Below average intelligence by what measure?

Having gone through most of the process myself, I can tell you that it takes a fair amount of intelligence to get through 12 years of primary school, 4 years of college, 4 years of medical school, and 5-6 years (or more) of internship and surgical residency. In addition to all of the in-school testing, that also means performing very well on the SAT, MCAT, state and national medical board exams, and surgical specialty board exams. Doesn't sound like "moron" would accurately describe that person.

Now this guy might be a jackass. I've met plenty of them in the medical field. But he most certainly is not stupid.

[greenskeeper]

Work ethic is in no way shape or form "luck". To think so is ... silly.

it was a list

[Like2Plan]

personality can usually help someone earn more than a "smart person"
.

I think this is the difference between IQ and EQ (emotional quotient).

EQ doesn't seem to get as much air time maybe because it is harder to quantify?

[bjl584]

Someone of average intelligence that has an appetite for risk and is good at setting up and managing systems and processes can achieve incredible wealth. If someone with a high school diploma starts a business and surrounds themselves with Ivy League graduates to run that business, then the Ivy League students will make a good living. The guy with the high school diploma will get rich.

[Nutria]

Someone of average intelligence that has an appetite for risk and is good at setting up and managing systems and processes can achieve incredible wealth. If someone with a high school diploma starts a business and surrounds themselves with Ivy League graduates to run that business, then the Ivy League students will make a good living. The guy with the high school diploma will get rich.

Will the Ivy Leaguers want to work for someone with just a HS diploma?

[Singuy]

Perhaps a smarter person with a strong support system makes more income.
Plenty of smart individuals who are capable of greatness but are stunted by the unfortunate lack of opportunity.

Just think of a smart kid in a third world without running water and electricity....or someone grew up in the slums who are forced to use wit just to survive.

[Fishindude77]

I know several HS educated individuals that own businesses and have a number of degreed professional employees working for them. The business owner just has to be smart enough to realize that there are things he doesn't know or can't do, and be willing to hire and pay someone adequately to get the work done. Whole lot of college educated folks that just prefer to work for the other guy and just earn a fair market salary.

Back to the original question .... Do Smarter People make more Money?
I think undoubtedly so, but as others have eluded to, there comes a point somewhere on the IQ scale where you have adequate intelligence to to get wealthy if you choose to do so. Additional years of education and "book smarts" won't increase your take home much more. It comes down to the unmeasurable stuff that sets the real money makers apart, stuff like; determination & drive, work ethic, taking risks, gut instincts, etc.

[Nutria]

Back to the original question .... Do Smarter People make more Money?
I think undoubtedly so, but as others have eluded to, there comes a point somewhere on the IQ scale where you have adequate intelligence to to get wealthy if you choose to do so. Additional years of education and "book smarts" won't increase your take home much more.

IQ is the measure of how quickly you can get those book smarts.

It comes down to the unmeasurable stuff that sets the real money makers apart, stuff like; determination & drive, work ethic, taking risks, gut instincts, etc.

I've yet to see an example of a stupid person with all of those qualities.

For example, how does a construction contractor have the gut instinct to know when a project will be a disaster, and he should cut his losses now? Through actual primeval instinct, or is "gut instinct" a phrase we use for experience + the intelligence to quickly integrate disparate facts and then map them onto experience?

[disneysteve]

Just think of a smart kid in a third world without running water and electricity....or someone grew up in the slums who are forced to use wit just to survive.

In those cases, the smarter kid probably still makes out better than the less smart kid.

Look at an organization like Kiva.org that does micro-lending internationally to help people "start or grow a business, go to school, access clean energy or realize their potential. For some, it’s a matter of survival, for others it’s the fuel for a life-long ambition." So even in those third world countries, there can be ways for a smart, industrious person to get ahead. I'm certainly not saying it's easy, but opportunities are out there for those smart enough to figure out how to take advantage of them.

[disneysteve]

there comes a point somewhere on the IQ scale where you have adequate intelligence to to get wealthy if you choose to do so.

I think that's probably true, and I don't think the original post says otherwise.

Does anyone here really think that intelligence simply doesn't matter? That the person with the IQ of 50 is just as likely to succeed as the person with the IQ of 150?

[Singuy]

In those cases, the smarter kid probably still makes out better than the less smart kid.

Look at an organization like Kiva.org that does micro-lending internationally to help people "start or grow a business, go to school, access clean energy or realize their potential. For some, it’s a matter of survival, for others it’s the fuel for a life-long ambition." So even in those third world countries, there can be ways for a smart, industrious person to get ahead. I'm certainly not saying it's easy, but opportunities are out there for those smart enough to figure out how to take advantage of them.

Kind of proves what I am saying. Kiva is the support system infused into a third world to give smart people opportunities. But still, we are talking about millions of children living in poverty...one of these programs can help some, but way less compared those who are in need.

[disneysteve]

Kind of proves what I am saying. Kiva is the support system infused into a third world to give smart people opportunities. But still, we are talking about millions of children living in poverty...one of these programs can help some, but way less compared those who are in need.

I agree that the support system is important. A smart kid with abusive parents and no support may never get through high school yet alone college. Just being smart by itself doesn't guarantee you any success. Other stuff needs to happen too.

I agree with the basic premise of the study though. Smarter people generally do better than less smart people.

[prosper]

Work ethic is in no way shape or form "luck". To think so is ... silly.

I think those two items were meant to be two separate statements.
(1) Work ethic
(2) Luck

[prosper]

When I think of a high income, I think of a computer programmer at a major software company. When I think of wealth, I think of the owner of the company that the programmer works at.

[Nutria]

I think those two items were meant to be two separate statements.
(1) Work ethic
(2) Luck

Could be...

Even so, how much wealth will a hard working, lucky stupid person accumulate?