How Does Your Personality Type Affect Your Income?
You’ve just finished giving a presentation at work, and an outspoken coworker challenges your ideas. Do you:
a) Engage in a friendly debate about the merits of each argument, or
b) Avoid a conflict by agreeing or changing the subject?
The way you approach this type of situation may influence how much money you earn.
Today’s infographic comes to us from Truity, and it outlines the potential relationship between personality type and income.
Through the Myers-Briggs Lens
The Myers-Briggs personality test serves as a robust framework for analyzing the connection between personality and income, in a way that is easily understood and familiar to many people.
The theory outlines four personality dimensions that are described using opposing traits.
- Extraversion vs. Introversion: Extroverts gain energy by interacting with others, while introverts draw energy from spending time alone.
- Sensing vs. Intuition: Sensors prefer concrete and factual information, while intuitive types use their imagination or wider patterns to interpret information.
- Thinking vs. Feeling: Thinkers make rational decisions based on logic, while feelers make empathetic decisions considering the needs of others.
- Judging vs. Perceiving: Judging types organize their life in a structured manner, while perceiving types are more flexible and spontaneous.
For example, someone who aligns with extraversion, sensing, thinking, and judging would be described as an ESTJ type.
The researchers surveyed over 72,000 people to measure these four personality preferences, as well as 23 unique facets of personality, income levels, and career-related data.
Traits With the Highest Earning Potential
Based on the above four dimensions, extroverts, sensors, thinkers, and judgers tend to be the most financially successful. Diving into specific personality characteristics, certain traits are more closely correlated with higher income.
|Personality Type||Average Income Advantage (Annual)||Trait(s) Most Correlated With Income Advantage|
|Extroverts||$9,347||Expressive, Energetic, Prominent|
|Thinkers||$8,411||Challenging, Objective, Rational|
For instance, extroverts are much more likely to have higher incomes if they are quick to share thoughts, have high energy, and like being in the public eye. Thinkers also score high on income potential, especially if they enjoy debates, make rational decisions, and moderate their emotions.
The Top Earners
Which personality types earn the highest incomes of all? Extroverted thinking types dominate the ranks again.
The one exception is INTJs, with 10% earning an annual salary of $150K or more in their peak earning years.
Personality and the Gender Pay Gap
With all these factors in mind, the researchers analyzed whether personality differences would affect the gender pay gap.
When the average salaries were separated for men and women, the results were clear: men of almost all personality types earn more than the average income for the sample overall, while all but two personality types of women earned less than the average.
In fact, women with high-earning personality types still earn less than men who do not possess those traits. For example, extroverted women earn about $55,000 annually, while introverted men earn an average of over $64,000.
Maximizing Your Potential
Are the introverted personalities of the world doomed to lower salaries? Not necessarily—while personality does play a role, many other factors contribute to income levels:
- Level of education
- Years of experience
- Local job market
- Type of industry
- The particular career
Not only that, anyone can work on the two specific personality traits most aligned with higher incomes: set ambitious goals, and face conflict head-on to ensure your voice is heard.
Uncovering Income: Dividend Stocks With Strong Yields
Some companies are cutting or suspending dividends. Which dividend stocks can investors consider for stable distributions and strong yields?
Uncovering Income: Dividend Stocks with Strong Yields
Amid the current market volatility, attractive income-generating investments can be hard to find.
Treasury bond yields hover near record lows, and U.S. companies face restrictions on issuing dividends if they accept COVID-19 stimulus funds. Moreover, Goldman Sachs estimates dividends for S&P 500 stocks will decline by 25% this year.
Which stocks can investors turn to for stable distributions and relatively high dividend yields? Today’s visualization shows 35 stocks that may meet this criteria, leveraging Goldman Sachs data as published by Forbes.
The Dividend Stocks to Watch
To compile the list, Goldman Sachs identified stocks from the Russell 1000 index that met a number of requirements:
- A minimum annualized dividend yield of 3%
- An S&P credit rating of at least BBB+
- Ample cash on hand
- Strong balance sheets
- ”Reasonable” payout ratios
- At least average performance since the market peak
Dividend yields, which measure dividend income in relation to the share price, were initially calculated March 27. We have updated them as of market close on April 8. Here’s the full breakdown, sorted from highest to lowest dividend yield:
|Rank||Company||Ticker||Annual Dividend Yield||Sector|
|1||CenterPoint Energy, Inc.||NYSE: CNP||6.90%||Utilities|
|2||Wells Fargo & Company||NYSE: WFC||6.74%||Financials|
|3||People's United Financial, Inc.||NASDAQGS: PBCT||6.34%||Financials|
|4||Franklin Resources, Inc.||NYSE: BEN||6.28%||Financials|
|5||Regency Centers||NASDAQGS: REG||5.82%||Real estate|
|6||Truist Financial||NYSE: TFC||5.50%||Financials|
|7||International Business Machines||NYSE: IBM||5.43%||Tech|
|8||Omnicom Group Inc.||NYSE: OMC||4.76%||Communication services|
|9||U.S. Bancorp||NYSE: USB||4.71%||Financials|
|10||Raytheon Technologies (merger of Raytheon and United Tech.)||NYSE: RTX||4.69%||Industrials|
|11||NetApp, Inc.||NASDAQGS: NTAP||4.69%||Information Technology|
|12||The PNC Financial Services Group, Inc.||NYSE: PNC||4.62%||Financials|
|13||Eaton Vance Corp.||NYSE: EV||4.34%||Financials|
|14||Nucor Corporation||NYSE: NUE||4.12%||Materials|
|15||United Parcel Service, Inc.||NYSE: UPS||4.09%||Industrials|
|16||M&T Bank Corporation||NYSE: MTB||4.09%||Financials|
|17||Exelon Corporation||NASDAQGS: EXC||4.07%||Utilities|
|18||Archer-Daniels-Midland Company||NYSE: ADM||3.95%||Consumer staples|
|19||3M Company||NYSE: MMM||3.95%||Industrials|
|20||Emerson Electric Co.||NYSE: EMR||3.84%||Industrials|
|21||Sysco Corp.||NYSE: SYY||3.81%||Consumer staples|
|22||Mid-America Apartment Communities||NYSE: MAA||3.61%||Real Estate|
|23||Essex Property Trust, Inc.||NYSE: ESS||3.55%||Real Estate|
|24||MDU Resources Group||NYSE: MDU||3.53%||Utilities|
|25||Cummins Inc.||NYSE: CMI||3.51%||Industrials|
|26||Sonoco Products Co.||NYSE: SON||3.50%||Materials|
|27||Cisco Systems, Inc.||NASDAQGS: CSCO||3.45%||Information Technology|
|28||American Electric Power Company, Inc.||NYSE: AEP||3.36%||Utilities|
|29||The Hartford Financial Services Group, Inc.||NYSE: HIG||3.36%||Financials|
|30||NiSource Inc.||NYSE: NI||3.30%||Utilities|
|31||Caterpillar Inc.||NYSE: CAT||3.23%||Industrials|
|32||Everest Re Group, Ltd.||NYSE: RE||3.13%||Financials|
|33||Bristol-Myers Squibb Company||NYSE: BMY||3.09%||Health care, pharmaceuticals|
|34||The Home Depot, Inc.||NYSE: HD||3.08%||Consumer discretionary|
|35||Bank of America Corporation||NYSE: BAC||3.07%||Financials|
Note: From the original list, 5 stocks have been excluded as they no longer meet the 3% annualized yield threshold.
Centerpoint Energy, an electric and natural gas utility company, is at the top of the list. Since utility stocks are generally considered to be recession-resistant, investors may benefit from both the company’s yield and its defensive qualities.
Financials are the most-represented sector, with 11 companies on the list. Although regulators have pressured European banks to suspend dividend payments, U.S. banks will likely be able to continue their distributions. Top banking executives have argued they have sufficient capital to weather the COVID-19 crisis, and that halting payments would be “destabilizing to investors.”
There are also a number of well-known names on the list, including Home Depot, IBM, and 3M. The latter is the largest maker of respirator masks worldwide, and has been providing critical supplies to the U.S., Canada, and Latin America.
Caution: Volatility Ahead
As the pandemic’s financial impact continues, it’s likely many companies will delay or suspend their dividends. To avoid falling into “yield traps”—a trap in which an attractive yield could be due to a fundamental business problem—investors can screen for the qualities laid out above.
A strong balance sheet, good credit rating, and average or better performance since the downturn can all help point towards stability.
Mapped: The Wealthiest Person in Every U.S. State in 2020
The biggest state fortunes range from $0.3 billion to $117.1 billion (Jeff Bezos). See the wealthiest person in every U.S. state on this map.
The Wealthiest Person in Every U.S. State
There are different degrees of wealth that exist, even among the richest in America.
For example, a heavy-hitting millionaire might have the most impressive fortune in his or her home state — but venture a few miles across the state border, and suddenly they become a small fish in a much bigger pond.
Today’s map comes to us from HowMuch.net, and it shows the incredible variance in the biggest fortunes on a state-by-state basis.
The Rich List, by State
Below is the full list containing the wealthiest person in every U.S. state, based on calculations by Forbes in early March 2020.
Amazon founder Jeff Bezos tops the list with a net worth of $117.1 billion in the state of Washington — meanwhile, the smallest fortune on the list is located in Alaska at just $0.3 billion.
|Rank||Person||State||Net Worth ($B)|
|#4||Michael Bloomberg||New York||$58.4|
|#9||Phil Knight and family||Oregon||$40.0|
|#17||Thomas Frist Jr and family||Tennessee||$13.0|
|#18||John Menard Jr||Wisconsin||$11.7|
|#22||Harold Hamm & family||Oklahoma||$9.7|
|#23||James Goodnight||North Carolina||$8.0|
|#25||Pauline MacMillan Keinath||Missouri||$6.9|
|#28||Ernest Garcia II||Arizona||$6.2|
|#29||John Overdeck||New Jersey||$6.1|
|#30||Ted Lerner and family||Maryland||$5.5|
|#33||Les Wexner and family||Ohio||$4.5|
|#37||T. Denny Sanford||South Dakota||$2.4|
|#39||Anita Zucker||South Carolina||$1.9|
|#40||Jonathan Nelson||Rhode Island||$1.8|
|#42||Jim Justice II||West Virginia||$1.5|
|#43||James and Thomas Duff||Mississippi||$1.4|
|#44||Gary Tharaldson||North Dakota||$1.0|
|#46||Elizabeth Snyder and Robert Gore||Delaware||$0.9|
|#47||Andrea Reimann-Ciardelli||New Hampshire||$0.7|
|#48||Mack C. Chase||New Mexico||$0.7|
|#50||Leonard Hyde, Jonathan Rubini and Families||Alaska||$0.3|
While all of the names above are considered extraordinarily wealthy in their home states, there is still a magnitude of difference involved. The low end of the list ($0.3 billion) would need to multiply their fortune by 390 times to get up to the $117.1 billion Bezos level.
To put this another way, the same degree of difference exists between the median household wealth in the U.S. (~$100,000) and a multi-millionaire with $39 million to their name.
Rising and Falling Fortunes
The above figures were obtained prior to the COVID-19 market crash, which will surely impact the size of some of the fortunes listed here.
Who will be most and least impacted by the recent stock market turmoil?
Even though Jeff Bezos has most of his wealth tied up in Amazon stock, so far it has been relatively unaffected by the volatility. With more people staying home because of social distancing, orders on online platforms such as Amazon have exploded.
Similarly to Amazon, the heirs of the Walmart fortune in the Walton family — including Jim Walton, Alice Walton, and Rob Walton — are also seeing Walmart’s stock price hold relatively steady in the face of volatility. In fact, some analysts consider Walmart to be the ultimate “recession-proof” stock, as consumers flock to discount goods in poor economic times.
Warren Buffett is also an interesting case. Though the stock market has certainly disrupted the real-time value of his fortune, that’s not the game that Warren Buffett plays. In fact, he is known for waiting for times of crisis to deploy his cash, and has a significant stockpile of money ready for just this kind of situation.
Billionaires like Sheldon Adelson in Nevada or Philip Anschutz of Colorado might be singing a different tune than some of the other above magnates. Adelson, for example, owns a good chunk of the Las Vegas Strip, as well as casinos and hotels in Singapore and Macao. Unfortunately, tourism-related businesses are some of the hardest hit in the COVID-19 crash.
Meanwhile, Anschutz owns the Coachella Music Festival and stakes in many professional sports teams (LA Lakers, LA Kings, and multiple MLS teams), which have all been impacted by the cancellation of big events and gatherings throughout the country. Like many others, Anschutz is probably itching for things to get back to normal.
Healthcare4 weeks ago
Visualizing the History of Pandemics
Demographics2 months ago
Ranked: The 100 Most Spoken Languages Around the World
Environment2 months ago
The Carbon Footprint of the Food Supply Chain
Healthcare3 weeks ago
Infection Trajectory: See Which Countries are Flattening Their COVID-19 Curve
Advertising1 month ago
The Most Loved Brands, by Generation
Chart of the Week1 month ago
Mapped: Where Are the World’s Most Sustainable Companies?
Chart of the Week2 months ago
Can a Shorter Workweek Make People Happier?
Business2 months ago
Where Are the Oldest Companies in Existence?