Is Working Harder Enough to Change Your Socioeconomic Status?
1. Does more effort mean more results?
In this analysis, we will explore how hardworking influencers can impact their income and follower growth.
Findings1 indicate that posting frequency, customer interaction, and content quality are positively correlated with customer loyalty. Among these, content quality emerges as the most significant factor for engaging and interacting with readers. Additionally, a higher frequency of posting on X (formerly known as Twitter) positively influences the number of followers.
However, it’s important to note that many factors affect the results of influencers’ efforts. Elements beyond their control, such as the platform’s algorithm and audience interest, also play a significant role in the outcome.
Conclusion: while effort is a key factor in achieving success, many other elements contribute to the overall results.
2. Has hard work changed people’s lives?
The impact of social mobility largely depends on the specific location or economic entity in which one resides. Different areas may yield varying results based on the efforts made toward achieving social mobility. In comparison to developed economies, it often seems easier to change the social hierarchy in developing countries.
Researches2 indicates that in many developing countries, social mobility is closely linked to economic development and growth. For example, during certain periods, educational upward mobility has significantly increased. This rise in intergenerational mobility is often associated with higher income per capita, overall income growth, and other indicators of development.
In developed countries like the United States, individuals may experience wage fluctuations over time; however, these changes do not necessarily correspond to upward opportunities in wage mobility. In fact, the uncertainty regarding wage progression can be greater. Nevertheless, education plays a crucial role, as hourly wages typically increase throughout an individual’s career.
Similarly, in the United Kingdom, there is a notable persistence of poverty and privilege across generations, indicating a lack of mobility among those with low and high incomes. Furthermore, research2 suggests that the workplace is at least as important as education in shaping mobility prospects.
Conclusion: developing countries tend to rely more on industrialization as the core of their economic growth, creating numerous new jobs that require low-skilled and knowledgeable workers. These new job opportunities typically offer higher salaries than in the past, enabling individuals to accumulate wealth and improve their socioeconomic status. Conversely, in developed countries, the economy has shifted toward a service-based model, which favors skilled and knowledgeable labor, making it easier for those workers to earn higher wages.
3. Does Timing and Luck Contribute More?
Let’s start by defining “luck.” Some people view luck as opportunities that are random, uncontrollable, and unpredictable. Others believe that luck is a small portion of chance, with a larger part influenced by individual efforts. There’s a saying: “Luck is what happens when preparation meets opportunity.”
Both luck and skills are equally important. Research3 investigating the correlation between luck and skill among successful entrepreneurs reveals that the most common ratio is 50% luck and 50% skill. Following that, 66.6% of success is attributed to luck and 33.3% to skill, while the third ratio is 33.3% luck and 66.6% skill.
Luck tends to weigh more heavily in people’s early lives. A study3 conducted over an 11-year period involving individuals aged 10 to 21 shows that “luck” can open up opportunities that enable teenagers to achieve socially mobile outcomes, such as being the first in their families to access higher education. These moments of “luck” often involve extra support from teachers, mentors, and particularly supportive parenting styles and educational practices.
Conclusion: luck plays a significant role in improving one’s socioeconomic status. However, effort remains essential in the equation of success.
4. Does Social Capital play a more important role?
Social capital acts as a hidden multiplier for effort and can be a catalyst for changing socioeconomic status.
Researchers4 have found that in the UK, children from poorer backgrounds who live in less economically segregated communities tend to have higher incomes as adults. In contrast, those who grow up in the least connected local authority areas can expect to learn less than their peers in the most connected areas. Furthermore, access to higher education, such as attending university, plays a significant role in exposing young people to wealthier peers. Successful career development has been positively associated with the availability of mentoring.
Additionally, group mentoring and peer mentoring are effective for achieving specific goals like salary increases, career advancement, and expanding professional networks. Peer mentoring offers significant advantages in developing soft skills through open communication with like-minded individuals and sharing experiences.
Conclusion: leveraging social capital can reduce the time and effort spent on trial and error, ultimately multiplying your results.
Reflection
Even Effort Is The Key, It Alone Has Limits
Effort alone is insufficient. Without access to information, influence, or opportunities, effort may plateau.
“If I have seen further than others, it is by standing upon the shoulders of giants.” – Isaac Newton
Footnote
- Findings from STMM MMTC Yogyakarta, TIME magazine, and Universidad Pontifical Comillas
- Researches from FCE Universidad Nacional de La Plata, University of Trento and Universitat Pompeu Fabra, and the Centre for Economic Performance
- Research and study from University of Illinois at Urbana-Champaign, and University College London
- Researchers from The Guardian, universities in Ukraine and Azerbaijan, and universities in UK, Greece, and Spain
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