Drink Beer – Earn More

drink beer and earn moreI’ll raise a beer to that ;) A new study by economists Bethany Peters and Edward Stringham has found that those who drink socially earn 10% or more than than those who don’t. The study found that social drinking helped people with their “social capital” – anything from a person’s charisma to the number of people in their social network.

This, in turn, helped their salary. For example, the authors say what might happen is that if a person has more social and business contacts, it may be easier for them to find a new job. Social drinking may also strengthen relationships with their co-workers and/or clients which could ultimately increase their salary.

Drinki

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3 Responses to Drink Beer – Earn More

  1. Pingback: Standard Deviant » Good news everybody

  2. MyFinanceForum.com says:

    I’ll take a pint of Guiness(tm) please!

  3. Kevin says:

    I agree with all of the authors’ suggestions as to why there is this correlation. But, I’d also add the fact that going to a bar at least once a month requires some extra income. You could also argue in the same way that owning a BMW causes you to have a higher income, when really your higher income allows you to AFFORD a BMW. People who have higher incomes can AFFORD going to a bar at least once a month. Now I realize drinking isn’t a luxury activity, and there many poor college students who go out drinking a lot even when they really can’t afford it, but I’ll bet this plays into it a little bit.

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