A study published in the Journal of Economic Psychology found that self-confidence significantly impacts earnings. The research indicates that individuals with higher self-confidence are more likely to achieve higher incomes because they tend to pursue more ambitious goals, negotiate better salaries, and are more persistent in their career advancement efforts.

Another relevant study conducted by the National Bureau of Economic Research highlighted that self-confidence directly correlates with an individual's success in the job market. People with higher self-confidence are more likely to be hired and receive promotions, which contributes to their overall earning potential.