A Little Bar Time Good For Pocketbook
By Kevin Smith Staff Writer© Pasadena Star-News, September 17, 2006
Social drinking can breed networking.
Feel like a beer?
How about a glass of wine?
Go ahead and drink because a new study reveals that drinkers - the ones who exercise moderation - earn 10 percent to 14 percent more money at their jobs than nondrinkers.
The study, published by the Journal of Labor Research and Reason Foundation, finds that men who drink earn 10 percent more than abstainers and women drinkers earn 14 percent more than nondrinkers.
However, unlike men, who get an additional 7 percent income boost from drinking in bars, women who frequent bars at least once per month do not show higher earnings than women drinkers who do not visit bars.
"Social drinking builds social capital," Edward Stringham, an economics professor at San Jose State University said in a prepared statement.
"Social drinkers are out networking, building relationships, and adding contacts to their BlackBerries that result in bigger paychecks," Stringham said.
Gary Kaplan, president of Gary Kaplan & Associates, an executive search firm based in Pasadena, said there is some truth to the social aspect of that premise.
"Any form of networking, within reason, usually will have a positive impact on career development," he said. "And those who network on a regular basis will usually have an easier time - and it will take them less time - to ID their next position."
Kaplan said most effective business people understand the merits of networking, whether it be in the form of casual drinks after work or in other social settings.
"It's very important that you carve out a certain amount of time that's dedicated to career development," he said. "I usually advise someone to make a point of scheduling a lunch or breakfast with someone who ultimately can have a positive impact on their career."
On the flipside, Kaplan cautions job applicants to drink with moderation.
"You've got to be careful," he warned. "If you are being evaluated or interviewed for a position, my recommendation is that you not drink in those situations. I've gotten feed-back from clients who were concerned because they felt that some people drank too much."
Kaplan also noted that people have varying degrees of tolerance to alcohol.
"Alcohol can impact what we do or say," he said. "Sometimes job candidates have said things they shouldn't have said. If you are going to drink, I would encourage you to drink very little."
The report published by the Journal of Labor Research and Reason Foundation also suggests that the growing wave of anti-alcohol legislation at state and local levels will have harmful effects on local economies and individual finances.
Efforts to impose heavy tax increases on alcohol, to restrict alcohol sales through zoning laws and prohibit alcohol advertisements have all been stepped up in recent years.
"We're quick to ban beer at sports stadiums and festivals," Stringham said.
"The legal blood alcohol level is dropping everywhere," he added, "`and we're barraged with overhyped warnings about binge and underage drinking. Instead of fear mongering we should step back and acknowledge the proven health and economic benefits that come with the responsible use of alcohol."
