We already knew that it pays to be beautiful, so it should not be a surprise that a study by Das and DeLoach finds that it pays to spend time to groom yourself. The surprising finding is that it pays much more for men.
Maybe it is because women in general groom, so there is no particular advantage in taking care of oneself. Very fez men do this, so there rare ones that do stand out and reap the benefits. Looking at economists, I doubt this applies, though. Many of the top economists clearly have regard whatsoever about there appearance. But then, they are not at business schools, where it is all about the show.