Attracted to money and risk: the personality of finance professionals

Finance professionals have higher risk preferences and monetary motivation than the population as a whole. Max Deter and André van Hoorn analyse data on 465 bankers in Germany surveyed over 2,000 times between 2000 and 2017. They show that the preferences for risk and money are already present before they start to work in finance. The results indicate a business norm in the financial sector that attracts professionals who think in a riskier and more income-focused manner.