Did you know your personality can be linked to how much you make as well as how much of that you are able to keep?
Many people have taken the Myers-Briggs personality test. If you haven’t HERE is a link to take the test for free, it will only take a few minutes and you can find out which one of the 16 personalities you are.
Go ahead, take the test, I’ll wait.
They have taken the data from the test takers and have released some information that is very interesting. What I am going to focus on is which personality earns the most, and then which personality is able to keep that money in their hands.
I am an INTJ, also called ‘The Architect’ or ‘The Intellectual’. My characteristics are: Intelligence, Honors commitments, and Highly independent. The average household income for an INTJ is $71,000 a year. Additionally, 66.44% of INTJs say they are frugal. I am one of them. We are one of the rarest personality types, with just 1-2% of the population being an INTJ.
It is important to note that the data is self-reported. What I mean by that is being frugal to one person could mean something totally different to another. An example: for one person, not purchasing an appetizer at a restaurant could make them think they are being frugal. For another, like myself, buying a $3.29 blizzard from Dairy Queen is being spendthrift because I could have achieved nearly the same thing by just buying Oreo ice cream from the supermarket for $2.99, which would easily have 6+ servings.
Yes folks, I am that fun to hang out with!
So this whole thing is just for fun really. But let’s see what we can find in the data.
The personality that makes the most money by far are ENTJs, with $83,000 a year. These are ‘The Commander’ or ‘The Director’ types, leaders. Just 2% of the general population are ENTJs, with 3% of men and 1% of women. You tend to find these types in leadership roles such as business leaders, entrepreneurs, and professors.
Runners up are ESTJs ‘The Executive’ with $75,000 and ESFJ ‘The Consul’ with $73,000.
At the bottom of the earning data are INFP ‘The Mediator’ with $60,000. The ENTP ‘The Debator’ with $61,000. And a tie for 3rd least average income goes to ESFP ‘The Entertainer’ and ISFJ ‘The Defender’ with $62,00 each.
Ah! But how good are the personalities with actually keeping the money in their pockets?
According to a survey by SunTrust about 33% of people making over $75,000 a year still live paycheck to paycheck. So many people are not very good with having money set aside, even if they make a good income.
To find out that information I searched for the average positive responses to the question ‘You are a frugal person.’ Using a completely scientific* method of just multiplying income by average positive responses to the frugality question, I came up with the following chart. *(science not included)
The personality that, on an average income and frugality level, will have the most money in their pockets are the ISTJs!
ISTJs ‘The Logistician’ or ‘The Auditor’ make up approximately 13% of the population. With an average income of $70,000 and 67.16% responding positively to being frugal they can expect to feel as if they make $47,012. These personalities are organized, good listeners, and can handle criticism well. They are quiet, serious, and very responsible. They also value traditions and loyalty.
Runners up are ENTJs who have a relative income of $46,688, and ESTJs with $43,703.
At the bottom of the pack for keeping money in their pockets are ENTP ’The Debator’, ENFP ‘The Campaigner’, and ESFP ‘The Entertainer’
You guys may not keep a lot of what you make, but you sure are fun to hang out with.
The bottom three are all extravert personalities so they are less likely to be frugal. Being that extraverts love social interaction, they would appear to spend more money on social events like meals and/or drinks out with friends. Introverts will be more happy to spend a weekend home to recharge, which is an easy way to save money. Personalities that are extroverted and prospecting are more likely to splurge in the moment.
One of the most interesting things from this research is that ISFJs ‘The Defenders’ who were tied for 3rd place in making the least income, jumped up to 4th place for keeping money after applying the frugality formula. Introverted and judging personalities excel at impulse control and planning.