Friday, April 27, 2007

Smart or stupid, rich is better

It turns out that rich people aren't any smarter than the rest of us, according to a study conducted by research scientist Jay Zagorsky of Ohio State’s Center for Human Resource Research. “People don’t become rich just because they are smart,” he concluded based on data from the National Longitudinal Survey of Youth. “Your IQ has really no relationship to your wealth. And being very smart does not protect you from getting into financial difficulty.”

People with higher IQ scores do tend to get paid a little more than others. Like others before him, Zagorsky found that each point of increase in IQ scores is associated with $202 to $616 more annual income. That means that the average difference in income between a person with a normal IQ (100) and someone with an IQ in the top 2 percent (130) is somewhere between $6,000 to $18,500 a year. In terms of total wealth and the likelihood of financial difficulties, however, people with below average and average intelligence are no more or less likely to be wealthy than a genius.

But really, who cares? Smart or stupid, I'm still not feelthy rich.

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