I rarely find a person who believes they don’t want to make more money. “No, I’m fine Tim, no more money for me! I make $75,000 per year and you know what that one study says, it’s all I need to be happy!”
Good for you pal. I prescribe to different study that says if you make $175,000 per year, you’ll be happier than at $75,000, and if you make $1,750,000 you’ll be so much more happier than at $75,000 per year you’ll actually hire two people making $75,000 per year to tell you how much happier you are!
A recent study out of Princeton shows that if you want to make more money all you really need to do is be in the same profession as your spouse!
“Individuals who work in the same occupation as their spouse have significantly higher earnings on average than similar people whose spouses work in different occupations. For instance, a lawyer married to a lawyer makes more than an otherwise identical lawyer married to a physician or a teacher. The earnings effect associated with such “same-occupation marriages” is negative for less-educated men but positive for other groups and stronger for women than men.”
So, let’s unpack this concept a bit:
- I can understand that if I worked in the same job as my wife, let’s say we are both teachers. We would be a bit competitive (editors note: my wife and I, and our kids, are super competitors!) in our careers. We would both strive to be the best teacher with the most awards and education, continuing to push each other to reach the highest levels.
So, the concept makes sense so far.
- I could also assume that two people in the same profession, let’s say doctors, would also be more willing and able to start their own business in that profession. It’s hard to hang your own shingle, but two of you and now you have a practice!
I really struggle to find how this doesn’t work in most cases. When I worked at Applebee’s we constantly had partner teams and it was rare that either partner failed. If your partner worked in your same profession, you constantly have this close person to share your pain, frustrations, celebrations, etc., with someone who truly understands!
All of this is predicated on finding a spouse that loves to do what you love to do, professionally.
Did this study just uncover a hidden secret to successful relationships? I’m not sure, but it makes sense that if you love what you do and find a partner who also loves that same thing, and you are both pushing each other to be successful, and because of that you both earn more money, well then, that relationship at least has a chance!
What do you think? Could you do what your significant other does? Would you like if they did what you did?