Can you tell more about your experience on Wall Street that disproves that? I personally don't have any, but from what I hear from friends and strangers on the internet mostly falls in line with this statement.
Also true from my 16 years experience in tech. May be not hard work as in amount of hours spent, but quality of result certainly correlates with compensation.
I'm speaking generally, but I feel it still applies to Wall Street. Research shows the "hard work" mindset is only a state of mind, and not a correlation of income:
Some specific research looks at "earnings elasticity" between generations:
>> While faith in the American Dream is deep, evidence suggests that the United States lacks policies to ensure the opportunities that the dream envisions. According to the data, there is considerably more mobility in most other developed economies.
Also true from my 16 years experience in tech. May be not hard work as in amount of hours spent, but quality of result certainly correlates with compensation.