Selected indicators that you will be rich

If you go into financial services, you are probably more than usually interested in earning money. If successful, you probably also have a higher than usual chance of earning more money than average.

However, merely working in banking may not be sufficient. Especially now that financial services pay is normalising.

If you want to maximise your income, it will therefore help if the following factors are in your favour. Unfortunately, not all of them are yours to influence.

1) Family

A new study by Gregory Clark at the University of California suggests that, in the UK at least, wealth begets wealth.

Clark looked at UK surnames that were usually associated with wealth in 1858 and UK surnames that are usually associated with wealth today. He found that people today whose surnames would have fallen into a 'rich' category in 1858 are likely to be 'substantially wealthier' than everyone else today.

Clark points out that this is bad news for UK immigrants.

2) Schooling

If you're privately educated, you're more likely to work in the 'professions.' One in seven lawyers come from private schools , even though only 6% of the total UK population are private educated.

Various studies suggest a private education has a significant income effect in later life. For example, the LSE cites a study suggesting that men aged 33 can achieve a 20% wage premium if they attended a private school vs. those who didn't.

3) Attractiveness

If you are judged attractive, you are likely to be both more intelligent and more employable than people judged unattractive.

Handsome men and women allegedly have an IQ 14 points higher than the unhandsome and earn around 12% more.

4) Height

Various studies suggest tall people earn more than short people. Academics at the University of Washington postulate a rationale for this: height leads to self-esteem, self-esteem leads to social-esteem, social- esteem leads to performance and performance leads to career success.

In a study dating back to 2004, they claim that someone 72 inches tall will earn $5.5k a year more than someone who's 65 inches tall, after controlling for weight, gender and age.

5) Intelligence

A 2007 study from Ohio State University found that every 1 point increase in IQ correlated with a $234 -$616 year increase in income.

6) Marriage

Marriage and income are positively correlated, for men.

Men with higher incomes are more likely to be married than men with lower incomes. Between 1997 and 2007, US data shows that median household income rose 60% for married men and only 16% for unmarried men.

However, the direction of the causal relationship isn't clear. It seems likely that men only marry when they reach a level of income associated with their idealized norm of marriage. This being the case, getting married won't increase your income - but increasing your income will make it more likely that you get married.

Women gain no income benefits from marriage.

6) Divorce

Research suggests men can increase their disposable income by 33% if, having acquired a wife, they divest themselves of her.

7) University course

In 2010, UK starting salaries were highest for people studying dentistry, medicine, chemical engineering and economics.

A 2007 study by PricewaterhouseCoopers found no lifetime earnings benefit to studying arts and humanities at degree level but a 340k lifetime premium to studying engineering.

8) Childhood popularity

Popular children earn more. A 2009 study by Essex University found that for every additional friend a child had at school, their salary was 2% higher 35 years later.

9) Unemployment avoidance

Unemployment has an enduring 'scar' impact on earnings which increases as you get older.

A 2009 study found that the 'scar' impacts of unemployment are limited if unemployment occurs early in a career, but increase as careers develop.

They suggest that redundancy in the second year of employment leads to a 3.7% wage 'scar' but that by years three and four, this has increased to 8%.

However, research from Yale suggests that even early-career unemployment has a toll. They suggest that a six month spell of unemployment aged 22 leads to 8% lower wages aged 23 and to 2-3% lower wages even at ages 30 and 31.

10) Infrequent job changes

Beware: changing jobs too often could reduce your earnings potential. Research published in the European Sociological Review indicates that, on average, the first two job changes can increase pay by 1.8% to 3%, but the fourth job change will reduce pay by 2%.

11) Marshmallow resistance

Other factors of interest include: deferred gratification and the ability to resist marshmallows as a child.

In a famous Stanford University experiment in 1972, children were offered a single marshmallow and told they could have two if they resisted eating it. Those who didn't succumb became more self-motivated, educationally successful and emotionally intelligent adolescents.

Bankers with mandatory deferred bonuses may therefore be learning a significant life lesson which could bring benefits in future.