Play More Golf to Increase Your Compensation by 17%

A recent Economist.com article, espouses the virtues of golf as it relates to conducting business.

The article includes quotes from the CEO of Wentworth Golf Club, considered one of the top 100 in the world, who highlights several benefits of the game including, “. . . golf is a fine test of character. When you do business with people, you need to know more about them.”

The most interesting part of this article is the reference to an academic study by two economists at the Universitat Pompeau Fabra in Barcelona, Spain.  The study finds:

The evidence supports our claim that CEOs who are regular golfers earn more than those who are not. At the same time, we stress that the effect is economically large – 17% less in pay just because the CEO does not play golf or does not play golf regularly enough to have a decent handicap.

These findings highlights the importance of the social component of your career.  Golf is wildly popular and is often the first image people have of people combining work and play.  There is a lot about this activity that is conducive to building relationships with colleagues and customers, however, it is not the only activity that allows you to socialize outside of work hours.

The people with whom you interact in your professional lifeplay a major role in your your success.  How do you socialize with these people outside of the office?