Study Finds People With This One Specific Personality Trait Make More Money
The findings from the study conducted by economists can hopefully redefine conversations in the workplace between employers and their employees.
Dean Drobot | Shutterstock Whenever we think about getting promotions or raises at work that can lead to a higher salary, we tend to emphasize working harder, making sure we're going above and beyond in the workplace, and demonstrating just how dedicated we are to a company's success.
However, while our productivity levels can lead to professional growth, our personalities can also play a bigger part.
A study found that people with a specific personality trait make more money.
A study conducted by University of Cambridge economists shared their findings for anyone looking to maximize their bank account. When scientists are looking to measure a person's personality, they turn to the Big 5. This system of describing personality places people on five sliding scales that measure key traits:
- Extroversion: Do other people sap you or energize you?
- Conscientiousness: Do you do what you say you will do?
- Agreeableness: How much do you try to please others?
- Neuroticism: Are you emotionally stable?
- Openness: How much do you like or avoid new things?
Researchers analyzed how personality and income were tied together by using the Big 5 personality groups.
Other studies have shown that our Big 5 personalities can impact certain aspects of life, including romantic relationships and career paths. For this study, a team of economists wanted to see if the Big 5 also affected a person's income.
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According to a post on The Conversation by Weilong Zhang, who participated in the research, ranking high in agreeableness seems to lower the amount people earn.
While on the other hand, conscientiousness raises the chances that a person can come home with a hefty paycheck.
"We found that conscientiousness and emotional stability are power players in the job market. These traits positively influence wages and help reduce the time spent in unemployment for both men and women," Zhang wrote.
"Conscientious people are often perceived as reliable and hardworking, while emotional stability allows people to handle stress effectively — both of which employers value highly."
An extremely agreeable person tends to 'avoid conflict,' which can impact their ability to earn a large salary.
Zhang explained that women tend to score higher for traits like agreeableness, which, mixed in with the gender pay gap, could be a trait that results in lower wages due to the bargaining power that's needed to get higher wages.
Similarly, emotional stability, a trait that predicts resilience and composure, is linked to higher earnings as well. However, research shows that women report higher levels of neuroticism (effectively the opposite of emotional stability) than men.
"Highly agreeable people tend to avoid conflict, which can make them less assertive in negotiations. This trait disproportionately affects women, who score higher on agreeableness on average," Zhang shared.
"Women, who tend to display higher levels of agreeableness, face a double penalty in the labour market. Not only are they perceived as less assertive negotiators, but the economic value of their agreeableness is often lower compared with men."
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Zhang provided some resources that companies can use to bridge the gap and help mitigate these disparities. Some of those tips included redefining workplace norms and how certain companies reward traits like agreeableness and emotional stability, providing negotiation training, especially for women, where they can develop stronger negotiation skills. These can look like role-playing exercises and/or workshops to help workers learn how to properly advocate for themselves.
Finally, Zhang encouraged employers to be aware of how they're addressing structural biases in the workplace. They should be in tune with how their implicit biases shape the type of people they hire, promote, and pay.
Understanding the groups of people who tend to face more hardships in the workplace can help shift the conversation to provide resources that can help people, particularly women, navigate the job market without feeling as if their voices are being overlooked.
Nia Tipton is a staff writer with a bachelor’s degree in creative writing and journalism who covers news and lifestyle topics that focus on psychology, relationships, and the human experience.