There's a widespread belief that your testosterone can affect where you end up in life. At least for men, there is some evidence for this claim: several studies have linked higher testosterone to socioeconomic success. But a link is different to a cause and using DNA, our new research suggests it may be much less important for life chances than previously claimed.

In previous studies, male executives with higher testosterone have been found to have more subordinates, and financial traders with higher testosterone found to generate greater daily profits. Testosterone has been found to be higher among more highly educated men, and among self-employed men, suggesting a link with entrepreneurship.

Much less is known about these relationships in women, but one study suggested that for women, disadvantaged socioeconomic position in childhood was linked to higher testosterone later in life.

The beneficial influence of testosterone is thought to work by affecting behavior: experiments suggest that testosterone can make a person more aggressive and more risk tolerant, and these traits can be rewarded in the labor market, for instance in wage negotiations.