High income doesn’t mean you’re smart!
Are people with higher incomes smarter than the rest of us? Not necessarily! A new study from Linköping University suggests that while people with higher income tend to score well on IQ tests, those below them on the pay grade may be smarter!
Not so fast, the top 1% of earners are intelligent, but they actually scored slightly worse on cognitive ability tests than those in the income strata right below them! This result is intriguing given that they make twice as much as those in the top 2-3%.
Add to that, the study found no evidence that those with top jobs that pay steep wages are more deserving than those who earn only half those wages.
What’s more, the study found that cognitive ability levels do not differentiate wages among top earners. This suggests that an increasing share of aggregate earnings may be allocated in ways unrelated to cognitive capability.
With that in mind, this study is a reminder that income and how smart people are aren’t closely linked as we might think!
Money talks, but it doesn’t make you smarter!
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