Why do some people earn more than others? A group of scientists from the University of Temple (Philadelphia) decided to understand what variables the formula for financial success consists of. For an unknown reason, they did not begin to consider such an obvious factor as the presence of an influential pope who could arrange for criminal work. Professor of Psychology William Hampton and his colleagues created a computer algorithm, calculating the relationship between the annual income of 2564 participants in the experiment, as well as their age, gender, height, skin color, place of residence, education, profession and … “zephyr test” results.
Stanford zephyr experiment – the so-called series of studies by psychologist Walter Michel, when he suggested to young children from the university kindergarten the choice: immediately eat a marshmallow that lay on the table, or wait 15 minutes and get a double portion. The scientist was interested in how children develop the ability to save pleasure for the sake of gaining profit in the future. Subsequently, it was found that those kids who could give up immediate reward, life was much more successful than those who were unable to resist the temptation.
But what is the relationship between the ability to self-control and earnings? Hampton and his colleagues played with each of the 2,500 volunteers (age from 25 to 65 years) in the financial game – an analog of the zephyr experiment. Only instead of eating sweets “guinea pigs” had to solve the dilemma: get virtual 500 dollars immediately or 1000 after a certain period of time. In addition, the participants filled out a detailed questionnaire and reported their annual income. He fluctuated in the range of 10 thousand to 235 thousand dollars.
The scientists processed the processed data through the machine algorithm and were able to rank the factors on which the financial success of a person depends to a large extent. The most important parameter was the profession. Then the level of education. The third component that affects the amount of wages is the place of residence. Note that all these three factors largely depend not on the person himself, but are predetermined on the fact of birth. For example, parents choose their place of residence – from their wallet it will be a poor or rich area. We go to the school they brought us to. The choice of a university is also often determined by the financial or social status of “ancestors”, etc.
However, the fourth criterion of success was our personal quality, namely, the ability to postpone the momentary pleasure for the sake of achieving strategic goals in the future. This ability has had a greater impact on wages than gender, ethnicity or growth (studies prove that high growth increases self-esteem, which in turn is related to career success).
“If you want your child to become an adult, get a good salary, teach him the ability to endure and wait for the time to get what he wants,” says William Hampton. – We still do not exactly understand how this works. Perhaps the inability to postpone remuneration is due to low intelligence or certain cognitive features prevent a person from seeing themselves in the future. It is possible that this quality – to manage the need for pleasure, protects people from alcohol and other destructive temptations. However, we see that there is a direct and obvious link between the results of the “zephyr test” and the level of income.
Source – https://nbc.ua/