'Beauty Premium' Has Cosmetic Surgery Industry Booming

VANCOUVER - New Year's resolutions to finally get the ideal body don't always mean resisting everything tasty, and sweating out everything else.

The cosmetic surgery business is booming, and those looking for a nip or tuck may have more than just a better-looking demeanour in mind. They may also be looking for a better-looking paycheque.

Beautiful people, in general, make more money than their less attractive counterparts, according to a survey published last year by the Federal Reserve Bank of St. Louis.

``The evidence seems to suggest that individuals that are on average ... rated as better looking receive better wages,'' said Michael Owyang, senior economist with the bank and co-author of the report.

One study cited in the survey found a ``beauty premium'' of five per cent an hour, while less attractive people were docked with a nine per cent ``plainness penalty.''

``There are a lot more (doctors) doing it, and there are a lot more people seeking it,'' Vancouver plastic surgeon Dr. Donald Fitzpatrick said in an interview, adding confidence, not higher wages, is the reason people usually seek cosmetic surgery.

Read more...