As a married guy, I certainly have a bias towards the latter. But being married means less time going out after work and networking, maybe time taken up by kids, and likely less travel.
Fewer chances to meet new people and impress the boss can lead to a hindered career compared to single guys. But like the fact that women choose to earn less, the answer here may surprise you.
If you’ve actually read up on this subject before, you will already know the answer. Married men make more than single men when doing the same job.
This has been an agreed to fact by researchers for years. But no one seems to know exactly why. There are plenty of theories though.
There’s the idea that married guys are more crunched for time, and so they are more productive. Single guys have no problem working a 10 hour day, but the married guy has to pick up his kids from school and get them to soccer. He squeezes the single guy’s 10 hour day into a 7 hour one.
Another theory has to do with loyalty. Married people are more settled into their lives than single guys (usually). They’re much less likely pick up and move to chase after another job. Companies appreciate loyalty, and reward it.
Researchers recently explored the marriage premium using baseball players. They found a 15-20% premium for top performing married players over equally talented single players. I don’t know much about baseball, but I can see this in basketball. Tim Duncan, the most talented low-key player in the NBA, has stayed with the same team (San Antonio Spurs) for his entire career. He’s perhaps the last guy to actually do that as younger stars jump from team to team. But Duncan has been married for 10 years and two kids under the age of 7. His wife runs a foundation with tight ties to San Antonio.
He’s worth a lot to the Spurs, as talent, as a celebrity, as a leader, and a brand. It wouldn’t surprise me if he’s paid more than somebody who is single and gets traded every year, but is equally talented.
You might be thinking that you’re not a professional athlete, but the reasons married baseball players make more are transferable. It’s about loyalty and leadership. They get settled into their careers and find contentment.
Now this study controlled for job roles. Another study, that doesn’t control for what kind of job you have, might yield different results. However, I would suspect that is not the case either. Sorry single guys, but I’m taking my higher pay (and lower taxes) home to my wife.
 By The Weakonomist |
The Weakonomist is the founder of Weakonomics. Clicking the picture of the puppy will tell you more about him. If you like what you're reading consider subscribing to the blog, following him on Twitter, and checking out the related posts below. Please consider a donation if you really enjoy Weakonomics. Also keep in mind that nothing I say can be construed as financial advice. |
