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A new study from the University of Warwick singles out three personality traits that will help you get rich: openness, conscientiousness and motivation. The reason they matter, according to one of the study’s authors, Dr. Proto, is that they’re intrinsically tied to motivation:
Whereas “lower aspiration implies that invidivuals in average ‘overshoot’ in the sense of achieving an income larger than their own aspiration and this has a benefit in terms of relief for an avoided threat … Higher motivation produces aspiration to higher income, and hence to higher realised income … Motivation is likely to increase income; hence Openness, Conscientiousness and Extraversion (traits underlying motivation) should affect income positively.”
However, things get problematic when you aim too high. For example, if you’re jobless and searching for a new role, the more you shoot for a job with a raise, the tougher it will be to land that job the longer your search drags on and you remain out of work—a “decreasing rate of return on searching and aspiration,” said the study.
The report also covered why it’s harder for neurotic people to get excited about a pay raise.
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