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Wealthy Men & Women Surprisingly Alike, Says New Study

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F. Scott Fitzgerald noted that the rich “are different from you and me”. Maybe so, but a new study says that wealthy men and women share many of the same habits, childhood experiences, and leadership styles. The study, presented at the American Psychological Association’s annual meeting in Washington, D.C., looked at just over 100 people who made $100, 000 or more a year.  Jude Miller-Burke, PhD, leader of the study, noted that both men and women understood the special difficulties women have in trying to take on leadership roles in business.

But she was surprised to find the number of similarities between successful men and women. The biggest similarity Dr. Miller-Burke noticed was what she called “a transformational leadership [style]”. That means having a vision, motivating people to achieve the vision, and rewarding people for helping to achieve the vision. The research also pointed out that:

-communication skills are vital to move up the corporate ladder, and

-the most successful men and women believe integrity, honesty, and confidence in their managerial  skills are key to success.

Most of those surveyed also reported high self-esteem, although it was uncertain if wealth was the secret to their sense of self-worth.

How can you improve your chance for success? Dr. Miller-Burke suggests finding a mentor at your job, as well as taking workshops and seminars, and reading books to help improve your management style. She adds that psychotherapy may be helpful in improving your self-esteem.

Next for Dr. Miller-Burke? A study on the negative role sexism plays in women’s job advancement, and how successful women overcame it.

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