However, good looks do not result in increased salaries for women, the study found.
Researchers also found that below-average looks or outright ugliness can reduce a man's earnings by 26% compared to an average-looking worker, The Sunday Times reported.
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The research was conducted by Andrew Leigh, a former economics professor at the Australian National University, and Jeff Borland of the University of Melbourne.
The largest exercise of its kind, it repeated a survey from 1984 to see if the beauty premium had changed.
Leigh said that although he believed good-looking women may also be paid more, the study did not demonstrate this.
"Beauty can be a double-edged sword for women. Some people still believe good looks and intelligence are incompatible in women so a good-looking woman can't be that productive, but there's no dumb-blonde syndrome affecting men's pay," Leigh said.
Leigh said the research showed people in the workplace were "lookist" and he hoped the findings would help employers overcome their prejudice.
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