As it turns out, the time you’ve been spending in the bars may be helping your earning power. A study recently published in the Journal of Labor Research reveals that social drinkers earn more than those who shy away from the bottle.
If you thought swigging beer or indulging in a glass of chardonnay was putting your career on a fast-track to nowhere, think again.
In fact, a study conducted by two economists and published Thursday by the Reason Foundation and in the latest edition of The Journal of Labor Research, says that drinkers earn 10 to 14 percent more than those who refrain from drinking.
“Instead of earning less money that nondrinkers, drinkers earn more,” authors of the study, Bethany Peters and Edward Stringham, wrote. More specifically, the study found that workers who drank in a social setting earned more than those who tipped a glass at home.
The study contends that social capital, which entails everything from a person’s charisma to the size of their social network, can be enhanced by drinking.
If this study is right, we must be the effin’ Oligarchs of social capital. At least that’s what this morning’s hangover is telling us.
Happy hour for drinkers’ wages [CnnMoney.com]