The Financial Griot

Big Backs, Beauty Standards and Income Inequality

Episode Summary

The crew discusses cultural norms and beauty standards. Turns out beauty has value just as much as sad stories from people who don't fit the societal view of beauty. Research shows that physically attractive workers earn up to 15% more than those considered less or unattractive. Even more surprising, the beauty pay gap is larger for men than women.

Episode Notes

The crew discusses cultural norms and beauty standards. Research shows that physically attractive workers earn up to 15% more than those considered less or unattractive. Even more surprising, the beauty pay gap is larger for men than women. 

Check out the following:

• According to financialpoise.com, beauty bias can affect your financial future, with attractive people earning 4% more than the average salary and those who are less attractive earning 4% less. Attractive people are also more likely to be called back for interviews and are perceived as more confident, trustworthy, and socially skilled. 
• Women who routinely spend money on their appearance will shell out almost a quarter of a million dollars, $1,756 a year, or $313 a month throughout their lifetime. Versus men who shell out $175,680, about $2,928 a year or $244 a month. 
• Some studies suggest that taller people earn more money. For example, a 2004 study found that for every inch of height, a person's salary increases by $789, which means someone who is 6 feet tall would earn nearly $166,000 more over a 30-year career than someone who is 5 feet 5 inches. This study also noted that height is positively associated with work hours.
• According to a 2014 WSJ article, a study of 1.3 million Swedish men found that CEOs are generally taller than average, with the average man being 5'10.5" and CEOs being 6' on average. A 2014 LinkedIn study also found that male CEOs average 6 ft tall, and that height differences among CEOs are linked to differences in pay.

Wait what's a Financial Griot?

The Financial Griot is a play on two words (Finance + Griot) that hold significance in closing the wealth gap while embracing our differences. We tell the stories that others don't. Stories about growth, opportunity, and even Wars. Beyond that, we tie it back to how it reflects on your finances. Specifically, we are teaching you how to become financially literate, incorporate actionable steps, and ultimately build generational wealth.

Can you imagine being a Millionaire in 20 years or less? Yeah, it's possible. 80% of millionaires are the first generation. That means they didn't come from wealth. We teach you how. Join a community of subscribers who welcome a fresh take on money.

So there you have it, The Financial Griot, or TFG for short. The hosts were able to amass over $2 Million in wealth in about eight years and are on track to retire early. We will gladly share the secrets if you want them since the opportunity is abundant and Win-Win.

Find the TFG Crew Hosts on Instagram

• Alainta Alcin - Blogger, Travel and Money Enthusiast https://www.linkedin.com/in/alaintaalcin
• Lawrence Delva-Gonzalez, Financial Foodie and Travel Blogger @theneighborhoodfinanceguy
• Lovely Merdelus - Entrepreneur and Small Business Growth Specialist @lovelymerdelus