THE IMPACT OF SOCIAL AND HUMAN-CAPITAL ON THE INCOME ATTAINMENT OF DUTCH MANAGERS

This article discusses the interplay between social and human capital in the income attainment process of managers. A multivariate analysis of a 1986/1987 sample of 1359 top managers of larger companies in the Netherlands indicates that top managers find their jobs largely through informal channels and more so if they possess more social capital. Social capital (external work contacts, memberships) has a substantial independent influence on income, net of human capital (education, experience) and position level (number of subordinates). Human and social capital can act as substitutes for each other. Human and social capital interact in the income attainment process, but not as expected. Social capital helps at any level of human capital, but human capital does not make a difference at the highest levels of social capital. © 1991.