Listen Now: Status Symbols
Having trouble making friends? Take a look at what you’re wearing.
A new paper published in the journal “social psychological and personality science” found that status symbols can repel friends. This includes items such as designer clothes, expensive watches or jewelry and a nice car. In the study university students were asked which of two people they would talk to.
Participants were less willing to choose a New Jersey native interested in hiking and concerts when that person had a BMW than when they had a Honda.
However, there is a flip side. Those same expensive items that might cost you a beer buddy could gain you some valuable business contacts.
In another study, people were more likely to work with someone who drove a luxury car over someone who didn’t. They were also more likely to hire the person wearing a shirt with a brand name logo than the applicant with an off the rack shirt. A well cut suit increases your odds even more.
So take your pick, someone to grab a drink with, or a way to pay for that drink.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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