How much is a friend worth?

A month or more ago when Burger King was running its Facebook promotion that encouraged users to delete 10 friends to receive a free Whopper, a friend of mine posted on his status that he "is not going to give up a friendship for a Whopper." Well, that’s a kinda low threshold for my value as his friend, though to be certain, I'm glad I qualified.

So what is a friend worth? Poets and songwriters might couch it in elegant prose and a clever turn of phrase, but a new study by University of Chicago Economics professor Gabriella Conti affirms that being popular – particularly in high school – is quantitatively valuable later in life. In the study, Conti and colleagues measure the association between popularity in high school and later wages.

From admittedly dated data (the raw data was gathered in 1975 from 4000 men who graduated in 1957) The subjects were asked to name up to three of their closest friends and used the number of times ta person was mentioned as a measure of that person’s popularity, and then compared that to a person’s earnings.

The takeaway?

They found that, after controlling for variables, each extra close friend in high school is associated with an increase in earnings of 2%. The study concludes that either social skills carry forward to the working world or simply, friends tend to help friends.

Given the subjects and the data are dated, it begs the question as to whether the data carries forward to friends through Social Media net out as an increase, and if friends that are exclusively 'virtual' friends have the same impact.

Either way, its bad news for social misfits who take solace in the idea that one day they'll be lord and master over their current adolescent tormentors. The data doesn't seem to support the fact that the computer club president will one day be in a position to hire and fire the varsity quarterback. On the upside, years later he might still be able to hack that football hero's fat bank account.