Do our American cousins value hard work, luck or natural-born talent for career success?

Which Americans value luck over hard work for career success?

• 20% of young Americans believe luck contributes the most to career success 

• 68% of black Americans feel they have less opportunity than others to obtain a well-paying job

One in five young Americans believe that luck is the key to success, and one in three Americans feel that they have less opportunity than others to secure a well-paid career, new research has revealed.

A new study from money transfer experts RationalFX analysed data drawn from YouGov to find that 109.9 million Americans – 33% of the country’s population – feel less likely to secure a well-paid career in today’s job market when compared with others.

Overall, 68% of Americans think hard work is the most important factor contributing to career success, compared to luck (14%) and natural-born talent (18%).

Younger Americans, however, are less convinced about the benefits of hard work than older members of the workforce. 20% of those aged 18-29 believe luck contributes the most to getting ahead in the employment game, with only 61% believing hard work is key. Meanwhile 12% of those aged 45-64 believe luck is the most influential element, along with just 6% of those over 65.

Americans aged 65+ are believe the most in hard work, with 79% saying that it is the key to career success.

Which of these do you think contributes the most to career success? (By Age)

The research also revealed differing opinions based on education levels, as the belief that hard work is the key to success decreases as an individual’s education level rises. 82% of those without a completed high school education place the most importance on working hard, while only 57% of post-graduates feel the same – with one in four post-grads (26%) saying innate ability contributes the most to career success.

Which of these do you think contributes the most to career success? (By Education Level)

Concerning opportunities to securing a well-paying job, one in three Americans (33%) feel they have less of a chance than others. Despite placing less value in hard work when it comes to career success, one in four post-grads still feel they have a better chance than most at securing a high-paying position.

Americans’ perceptions of their employment prospects differ considerably depending on their race. While a majority of white Americans (64%) feel they have about the same opportunity as others to secure a well-paid position, only 30% of black Americans agree, with 68% stating that they have less opportunity.

There is a similar sentiment among Hispanic and Native American communities, with 44% and 49% respectively saying they have less opportunity to secure a well-paid career.

Do you feel you have more or less opportunity thank others to secure a well-paid career?

As working patterns continue to shift following the impact of the pandemic, the study also found that 67% of Americans would prefer a four-day week with 10-hour days. Four in ten Americans (41%) feel that switching to a four-day week would increase their productivity, compared to 37% who say that it would have no effect.

Commenting on the findings, a RationalFX spokesperson states: “It is interesting to see such diversity among Americans when it comes to their thoughts on the key to building a successful career. The world of work has been fundamentally altered by the events of the past 18 months, and many will be hoping that the ‘new normal’ offers them better job prospects than before.”

The research was carried out by leading international payment provider RationalFX, helping businesses and individuals to streamline their bank-to-bank transfers with smart global payment solutions.