Companies across the globe face a persistent challenge regarding their sales teams. Leaders often assume that the best way to motivate a salesperson is through financial incentives. The prevailing logic suggests that a salesperson who is hungry for money will work harder, close more deals, and drive revenue. This belief drives the structure of commission-based pay and bonus schemes in countless industries.
However, recent trends in the workforce have complicated this picture. Employee turnover rates are high, and dissatisfaction with pay is frequently cited as a primary reason for quitting. This tension led a team of researchers to investigate whether a strong desire for wealth actually translates into better work. Their findings, published in the Journal of Business & Industrial Marketing, suggest that the relationship between a fixation on money and job performance is far more complex than traditional wisdom suggests.
Identifying the Psychological Drivers
Pramod Iyer, a researcher at the Department of Marketing and Professional Sales at Kennesaw State University, led this investigation. Working alongside colleagues Atanas Nik Nikolov, Geoffrey T. Stewart, Rajesh V. Srivastava, and Thomas Tang, Iyer sought to untangle the web of psychological traits that influence how a salesperson performs. The team wanted to know if specific personality attributes directly lead to sales success or if they operate through a different channel.
To understand their approach, one must first understand the specific psychological concepts they isolated. The first is the “love of money” attitude. This is not simply a measure of how much a person earns or needs. Instead, it measures a person’s subjective relationship with wealth. It encompasses the desire to be rich and the belief that money is the primary motivator for behavior.
The researchers also incorporated the concept of “mindset,” based on the work of psychologist Carol Dweck. They looked at two distinct types. A “growth mindset” is the belief that intelligence and talent can be developed through effort and learning. Conversely, a “fixed mindset” is the belief that abilities are innate and static. Finally, the team included “grit” in their theoretical model. Grit is defined as a combination of passion and perseverance directed toward long-term goals.
Designing the Investigation
The research team structured their inquiry to see how these internal psychological states interacted with one another. They proposed a theoretical model where the love of money might act as a bridge connecting mindsets to performance. They did not assume that grit or a growth mindset would automatically result in higher sales numbers. Instead, they asked if these traits changed how a salesperson views money, which would then impact their work.
To test this, the researchers utilized a survey method involving 330 business-to-business (B2B) salespeople in the United States. The participants came from a diverse array of industries, including healthcare, technology, logistics, and telecommunications. The sample was experienced, with over 90% having six or more years in sales.
Measuring the Intangible
The team used established psychological scales to turn abstract concepts into measurable data. For the mindset variables, they asked participants to rate their agreement with statements regarding the malleability of intelligence. To measure grit, they used a scale focusing on consistency of interest and perseverance of effort.
Measuring the “love of money” required a nuanced approach. The researchers used the Money Ethic Scale. This tool breaks down the attitude toward wealth into factors such as how much a person thinks about money and how much they view it as a sign of success. Finally, they assessed job performance through a self-reported scale where salespeople rated their own success relative to their peers and targets.
Analyzing the Data
Once the data was collected, the researchers used a statistical method called structural equation modeling. This allowed them to test multiple relationships simultaneously. They looked for correlations between the traits and performance to see which links were strong and which were nonexistent.
The analysis revealed that the different personality traits were indeed distinct. For instance, grit was negatively correlated with a fixed mindset. This meant that salespeople who believed their abilities were set in stone were less likely to display perseverance toward long-term goals. With these foundational relationships established, the team moved to the core of their inquiry: the link to performance.
The Counter-Intuitive Role of Money
The most striking finding from the data concerned the love of money itself. Conventional business logic might suggest that a salesperson who loves money would be a high performer. The study found the exact opposite. The analysis showed a significant negative relationship between the love of money attitude and self-reported job performance.
Salespeople who scored high on the love of money scale tended to report lower performance levels. This suggests that an intense focus on financial accumulation might distract from the necessary tasks of the job or lead to dissatisfaction that hampers productivity. The researchers noted that while money is a tool for commerce, an obsessive attitude toward it appears to be detrimental in a professional sales context.
Tracing the Chain of Events for Growth Mindset
The study then examined how a growth mindset fits into this puzzle. The researchers found no direct link between having a growth mindset and having high job performance. Simply believing that one can improve did not, on its own, predict better sales results in this model.
However, a significant relationship emerged when the researchers traced the path through the love of money. The data showed that having a growth mindset was linked to a lower love of money. This lower obsession with wealth was, in turn, linked to higher job performance. The growth mindset improved performance not directly, but by reducing the counter-productive fixation on money.
The Role of Grit
A similar pattern appeared when the researchers analyzed grit. Despite grit being a trait associated with success, the study found no direct statistical link between grit and job performance. A gritty salesperson was not automatically a better performer based on the direct data path.
The connection was established only when the love of money was included in the chain. The analysis revealed that higher levels of grit were strongly associated with a lower love of money. This reduction in monetary focus then led to better performance. The researchers observed that gritty individuals might be more focused on the intrinsic value of their long-term goals rather than the immediate financial rewards, which paradoxically leads to better outcomes.
The Direct Impact of a Fixed Mindset
The findings regarding the fixed mindset were distinct from the other two traits. The researchers found that a fixed mindset had a direct, negative impact on job performance. Salespeople who believed their talents were innate and unchangeable reported significantly lower performance.
Unlike the other traits, this relationship did not rely on the love of money as a connector. The fixed mindset appeared to undermine performance largely on its own. The study did not find a significant link between a fixed mindset and the love of money. This suggests that the detrimental effects of a fixed mindset operate through a different mechanism than the distraction of greed.
Interpreting the Mediation
The researchers described this phenomenon as mediation. In this context, the love of money acts as a filter or a valve. Positive traits like grit and a growth mindset dampen the negative influence of monetary obsession. By lowering the intensity of the love of money, these traits allow the salesperson to focus better on the job, resulting in superior performance.
This finding challenges the idea that money is the ultimate motivator. The study indicates that while income is necessary, the psychological attitude of “loving” money creates a barrier to success. The researchers argue that an ardent aspiration for wealth might lead to discontent or a lack of focus on the actual processes required to make a sale.
Implications for Recruitment
These findings offer specific insights for business leaders and hiring managers. The data suggests that screening candidates solely for their hunger for commissions might be a mistake. A candidate who expresses a high love of money might actually be prone to lower performance.
Instead, the research points toward the value of identifying candidates with a growth mindset and high grit. These individuals are likely to have a healthier relationship with financial rewards. They focus on development and long-term goals rather than the immediate accumulation of wealth. This focus appears to insulate them from the negative performance effects associated with greed.
Rethinking Incentive Structures
The study also has implications for how companies structure their rewards. If an intense focus on money correlates with poor performance, organizations might need to reconsider compensation plans that emphasize hyper-aggressive financial targets. The researchers suggest that fair compensation is essential to satisfy employees, but systems that inflate the love of money could be counterproductive.
Managers might benefit from fostering a culture that emphasizes professional growth and skill acquisition. By encouraging a growth mindset, companies could inadvertently lower the collective obsession with money. This shift in focus could theoretically lead to the improved performance metrics that the study identified.
Understanding the Limitations
The researchers acknowledged several limitations in their work. The study relied on self-reported data for job performance. It is possible that individuals perceive their own success differently than an objective sales report would show. Additionally, the study used a cross-sectional design, meaning it captured a snapshot in time rather than tracking changes over years.
There is also the possibility of other variables at play. The researchers noted that they did not measure actual income or specific pay structures. However, the consistency of the psychological correlations provides a strong foundation for the conclusions drawn.
A New Perspective on Value
The investigation ultimately paints a picture of sales performance that goes beyond the “coin-operated” stereotype. It presents a scenario where internal psychological definitions of success matter more than external financial drivers. The researchers successfully demonstrated that the desire for wealth is a distinct variable that can hinder the very success it seeks to achieve.
By isolating the love of money as a specific attitude, the team highlighted a hidden dynamic in the workplace. Success in sales appears to stem from a focus on the process of work and self-improvement, rather than the prize at the end. As the researchers concluded, “Ardent monetary aspiration undermines self-reported job performance.” This discovery invites the business world to look closer at what truly drives a salesperson to excel.
![[Adobe Stock]](https://www.psychologyofselling.pro/wp-content/uploads/2025/11/artificial-intelligence-350x250.jpg)
