Alcohol use helps boost income: study
 

Was not sure where to put this. I am on my way to the bar...;)


http://www.breitbart.com/news/2006/0....wl9uakm4.html

BREITBART.com

Alcohol use helps boost income: study
Sep 14 10:07 AM US/Eastern

People who consume alcohol earn significantly more at their jobs than non-drinkers, according to a US study that highlighted "social capital" gained from drinking.
The study published in the Journal of Labor Research Thursday concluded that drinkers earn 10 to 14 percent more than teetotalers, and that men who drink socially bring home an additional seven percent in pay.

"Social drinking builds social capital," said Edward Stringham, an economics professor at San Jose State University and co-author of the study with fellow researcher Bethany Peters.

"Social drinkers are out networking, building relationships, and adding contacts to their BlackBerries that result in bigger paychecks."

The authors acknowledged their study, funded by the Reason Foundation, a libertarian think tank, contradicted research released in 2000 by the Harvard School of Public Health.

"We created our hypothesis through casual observation and examination of scholarly accounts," the authors said.

"Drinkers typically tend to be more social than abstainers."

The researchers said their empirical survey backed up the theory, and said the most likely explanation is that drinkers have a wider range of social contacts that help provide better job and business opportunities.

"Drinkers may be able to socialize more with clients and co-workers, giving drinkers an advantage in important relationships," the researchers said.

"Drinking may also provide individuals with opportunities to learn people, business, and social skills."

They also said these conclusions provide arguments against policies aimed at curbing alcohol use on university campuses and public venues.

"Not only do anti-alcohol policies reduce drinkers' fun, but they may also decrease earnings," the study said.

"One of the unintended consequences of alcohol restrictions is that they push drinking into private settings. This occurred during the Alcohol Prohibition of 1920-1933 and is happening on college campuses today. By preventing people from drinking in public, anti-alcohol policies eliminate one of the most important aspects of drinking: increased social capital."

The researchers found some differences in the economic effects of drinking among men and women. They concluded that men who drink earn 10 percent more than abstainers and women drinkers earn 14 percent more than non-drinkers.

However, unlike men, who get a seven percent income boost from drinking in bars, women who frequent bars at least once per month do not show higher earnings than women drinkers who do not visit bars.

"Perhaps women increase social capital apart from drinking in bars," the researchers said in an effort to explain the gender gap.

Does this mean everyone here is rich?

I'm on it.

will report in on how this works.

So now I understand why I am anti-social, am lacking a social network and a blackberry, and have never reached my earning potential. All this time I thought it was because I was on a government payroll, was mean, spoke my mind and lacked a neck.

Very true, especially in banking. I have spent 20 years in the financial services field and my experience at Continental Bank, NationsBank, and Bank of America is that if you don't do social drinking with your peers & boss, you never become one of the club and you loose opportunities. This will cost you in your wallet.

But if you develop a serious drinking problem your career will end. :eek:

I would have never made it in civilian life.

[QUOTE=Jack Moroney]Hmmm, Maybe it's more like the civilians wouldn't have made it around you.

Mr. H., hope this helps. :D

Have to agree with this, early on in my first job I happened to be out with a group of people and in walks the President and VP of our corporation. Was interesting to have "out of the office" discussions on the company, business etc.

Then again, I had additional opportunities to sit with the President as his son and my brother played peewee hockey together on Saturday mornings at the buttcrack of dawn. After one such Saturday morning discussion, on the following Monday morning I got called into my boss's office. Seems some of the suggestions and points I brought up were going to be implemented in my department. :lifter

Wait, lets think about this..
A study that shows people who consume alcohol earn significantly more at their jobs than non-drinkers, according to a US study that highlighted "social capital" gained from drinking. "

Who funded this research? Budweiser or Miller? Man, now this is a Ad campaign!!

Finance
 

Hey, I too have spent the last 15 years in the financial services industy, all of those years as a retail broker with Morgan Stanley, and now Merrill Lynch. If you dont drink, your most likely in the office that is staring at the construction sight at the poor end of Cincinnati !! Many a "Happy Hour" has been spent with the biggest producers in the firm, and many have been spent with the regional VP of operations. Ass kissing, not really, but you are noticed a bit more when the BIG MONTH comes along and your regional notices your name on the top of the board that month. On the other hand, we've had a couple of guys over the years that were chronic alcoholics that couldn't make it till lunch till they dipped into the bottle in the bottom drawer of thier desk !!!:eek: