05 February 2013

Employment or Entrepreneurship? Which pays more

Does It Pay to Become an Entrepreneur? - Forbes: ". . . Who in his right mind would forsake a well-earned and almost guaranteed path to success and comfort, to take on a mission where “they” don’t care how impressive your performance reviews at your last job were, where you went to school, or how you just missed a perfect SAT score? In fact, there is no “they” ― there’s just you, trying to create something from nothing. . . . the study found that the mean, median, and standard deviation of incomes for entrepreneurs ― controlled for education, general ability (as measured by standardized test scores), and demographics (including age and parental income) ― tended to be higher than those for good old-fashioned employees. And the difference is by no means small: mean income for entrepreneurs is almost 50% greater than for “employees.” And what’s more, this effect is not explained by “professional” entrepreneurial pursuits such as opening a medical or law practice. . . ."

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