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Monday, January 13, 2014

Article To Read: The Financial Benefits of Being Beautiful

This weekend I came across this article on The Atlantic and they discuss how beauty can help people and their companies financially. Ralph Waldo Emerson says: A raft of new research suggests not only that good-looking CEOs are paid more handsomely, but also that they're actually better for their companies in surprising ways.

According to Joseph T. Halford and Hung-Chia Hsu, more attractive CEO's have more value for shareholders through better negotiating prowess and visibility. "When better-looking execs appear on TV, their stock gets an exaggerated bump. Comely CEOs also snag better terms in mergers with other companies."

Daniel Hamermesh says the top third of attractive men earn 4 percent more than intellectually similar (but average-looking) men. The ugliest guys make 13 percent less. For the typical worker, that would add up to $230,000 "beauty premium" over a career.

"Making decisions is hard, and we often rely on our first impressions. Some people look trust-worthy, and some people look like crooks. Some people look like they can be president, and some people are Dennis Kucinich. Cute students are rated as smarter than uglier students, older-looking people seem more mature, and taller people seem more authoritative. The economics benefits of height (particularly for men) are so widely established that the Harvard economist Greg Mankiw once cheekily suggested a Tallness Tax to level the playing field."

Have you ever heard of the "beauty premium"? What did you think of this research?
Let's discuss!

Original article: The Financial Benefits of Being Beautiful
By: Derek Thompson

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