Two economists based at the University of Wisconsin recently ran a study rating CEOs on their aesthetic beauty and it seems film star looks are good for business.
They assessed 677 CEOs on their ‘facial geometry’ - i.e. making sure that everything was in the right place and no eyes were looking in opposite directions - and it showed there's a direct correlation between the CEOs who scored high on the FAI (Facial Attractiveness Index) and their company’s stock performance.
Andrew Witty: CEO of GSK (and he's FIT)
In addition, attractive CEOs also earn more and strike better deals in the boardroom.
"Beauty is wealth: CEO appearance and shareholder value." reports having a CEO with a face to rival George Clooney’s “has a positive and significant impact on stock returns surrounding the first day when the CEO is on the job, indicating that shareholders seem to perceive more attractive CEOs to be more valuable."
Mark Carney: Governor of the Bank of England (increases my interest rate)
This isn’t new, we all respond better to people in authority if we find them attractive. At school, it was always easier to do homework for the teacher you had a crush on, chances are the quality of work would be better too. Poor old Miss Woodburn, the silver-haired spinster, barely ever got her full quota of English essays in on time whilst Mr Michaels had a towering stack of neat papers on his desk first thing. With a bag of apples on top. We’re just drawn to good-lookers, it didn’t need an academic study but it’s always good to get the confirmation.
The economic study of beauty, or to give it its proper term - Pulchrinomics - was first looked at twenty years ago. It doesn’t just concern those at the top. Those considered more attractive earn around 5% more than those of average appearance while wages of people with below-average looks earn less. No wonder the dowdy girl in accounts always looks so miserable. She should make an effort with her appearance - it’s a self-fulfilling prophecy!
We live in a world increasingly obsessed with appearance. Like it or not, Superificiality is Queen (fitting, as most queens are superficial). The beauty business is booming like never before and the corporate world is no longer immune. You have to make the most of your appearance if you want to get on. It may not be morally sound but business isn’t, it never has been, you have to play the game. People are ultimately judged on ability and achievement but if it came down to the wire, the person who is more pleasing on the eye is going to have the edge. If you had to choose between two equally-pegged Gillians for the promotion, Anderson is always going to get it over McKeith.
As these companies with the hotties at the helm thrive, expect the less-facially-gifted CEOs to be pushed aside in favour of new Rock Star Chief Executives. Companies with failing fortunes will employ supermodels to be their public face. Soon we will have Dreamboys taking the annual seminar while the real-life pug-faced CEO is sat behind the screen feeding the speech via an earpiece. It’s another Milli Vanilli disaster waiting to happen.
Anybody with below-average looks will be out of business in less than 18 months. Plastic surgeons and hair-restorers will be in demand as The City becomes more pretty. But, of course, there will always be one exception to the rule.
Well, alright then, two…
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