The big five factor model is a widely used psychological model that describes personality traits in terms of five broad dimensions: openness, conscientiousness, extraversion, agreeableness, and neuroticism — also known as the “OCEAN” model using the acronyms.
Studies have shown that certain aspects of the big five factor model are highly correlated with socio-economic success. In particular, conscientiousness and openness are the most strongly correlated with socio-economic success.
Conscientiousness is a personality trait that is characterized by organization, attention to detail, and self-discipline. People who are high in conscientiousness tend to be reliable, efficient, and hard-working. These traits are highly valued in the workplace, and are often associated with success in a wide range of careers.
Studies have shown that people who are high in conscientiousness tend to earn higher salaries and have better job prospects than those who are low in this trait. For example, one study found that people who scored high in conscientiousness earned an average of $25,000 more per year than those who scored low in conscientiousness (Furnham, 2016).
Openness is another personality trait that is highly correlated with socio-economic success. This trait is characterized by creativity, intellectual curiosity, and a willingness to try new things. People who are high in openness are often open-minded and imaginative, and are able to think outside the box.
Studies have shown that people who are high in openness are more likely to be successful in a wide range of careers, particularly those that require creative thinking and problem-solving. For example, one study found that people who scored high in openness were more likely to be successful entrepreneurs and to earn higher salaries (Zhou & George, 2003).
In contrast, the other three dimensions of the big five factor model (extraversion, agreeableness, and neuroticism) are not as strongly correlated with socio-economic success. While these traits may influence an individual’s career choices and job performance, they are not as closely linked to overall levels of success and achievement.
Overall, the research suggests that conscientiousness and openness are the two personality traits that are most closely linked to socio-economic success. These traits are valued in the workplace, and can help individuals to excel in a wide range of careers.
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