◎ Do Good Looks Lead to Better Earnings? ◎ Every year, December and January are the busiest months for plastic surgery clinics. High school seniors and repeat college entrance examinees flock to these clinics after completing the college entrance exam process. There has also been a noticeable increase in the number of men in their 50s seeking procedures to lift droopy eyelids or smooth forehead wrinkles. Job seekers say, "Appearance is also a qualification." Many empirical studies show that attractive individuals receive better treatment in the labor market. This is referred to as the "beauty premium"—the advantage that good looks provide. But is there a rational explanation for this phenomenon, or is it simply prejudice and discrimination? Want to Marry Someone Wealthy? One of the most famous studies on the beauty premium is the 1994 paper "Beauty and the Labor Market" by Daniel Hamermesh, Professor Emeritus at the University of Texas at Austin, and Jeff Biddle, Professor at the University of Notre Dame. The researchers categorized 1,279 men and 1,495 women between the ages of 18 and 64 into five levels based on their appearance and examined the relationship between looks and income. The study found that women in the top two appearance categories earned 8% more than the average. Similarly, men in the top 1–2 appearance categories earned 4% more than the average. In contrast, women in the lowest two categories earned 4% less than the average, while men in these categories earned 13% less. Similar findings have been reported in Korea. In 2010, Professors Ryu Keun-kwan (Department of Economics, Seoul National University) and Lee Soo-hyung (Graduate School of International Studies, Seoul National University) analyzed the incomes of 20,689 members of the matchmaking company Sunoo, categorized into four appearance grades: A, B, C, and D. The study revealed that men in the A-grade category earned 9% more than men in the C-grade category, while A-grade women earned 5% more than C-grade women. The income level of spouses also differed. The spouses of A-grade men earned 15% more annually than those of C-grade men. Similarly, A-grade women married men whose income levels were 6% higher than those of men married to C-grade women. Interestingly, the beauty premium was found to be larger for men than for women. Are Attractive People Better at Their Jobs? Why does the beauty premium exist? In certain jobs and industries, appearance itself can be considered a skill. For professions such as acting, sales, or other roles that involve frequent interpersonal interactions, good looks or a pleasing appearance can give individuals a competitive edge. Research has shown that even restaurant workers receive tips based on their looks. In a study conducted by economist Matt Parrett of the U.S. Food and Drug Administration, 280 customers at five restaurants in Richmond, Virginia, were surveyed. The results showed that attractive male waiters received 1.49 times more tips than their average-looking counterparts, while attractive female waitresses received 1.37 times more tips than their less attractive peers. The "halo effect" described in behavioral economics may also play a role. The halo effect refers to the tendency to judge other qualities of a person based on one specific attribute. For example, when seeing a beautiful woman, one might think, "She must be intelligent and kind-hearted too." Such biases can also influence the labor market. Additionally, confidence in one’s appearance may translate into better job performance. Many studies suggest that physically attractive workers tend to have higher self-confidence, and this confidence can contribute to higher wages(The Korea Economic Daily, December 17, 2024). |
