. . . [B]etter-looking men earn four per cent more than average-looking men of similar education and experience, and uglier men earn thirteen per cent less. At today’s average wage rates, that means that a man with above-average looks can expect to earn $230,000 more over his career than his ill-favored peers. (The numbers are similar, if less dramatic, for women.)
. . . [C]ute students are rated as smarter than uglier students, even when they have the same academic records, while attractive workers are far more likely than unattractive ones to be seen as good at their jobs.
See here a description of Hamermesh's book, Beauty Pays. He has also looked at how beauty affects life satisfaction and happiness. Hamermesh's paper, "Beauty and the Labor Market," is here.
Mobius and Rosenblat's paper, "Beauty matters," is here.
HT: Julio Cole.