You're absolutely right, I am not sure dependent variable however was exactly what I was trying to say. I meant more "necessarily overlapping," as "smart/capable" and "hard-working academically" need not always overlap, frequently they may not. Also, academic achievement may be correlated to eventual economic and career achievement, but it isn't the sole predictor. A student like myself who absolutely hated high school and did the minimum might, like I did, be driven to work hard in a technology job or entrepreneurship. Very early in my career I sat next to a new colleague who had the exact same job at a software company. He recently graduated from Harvard. A month later I was still there and he was fired for poor performance. The boss especially didn't like him playing chess and going on Facebook at work when he was supposed to be working, his unwillingness to start picking up tickets without someone over his shoulder telling him to etc; it was like he was scared to exit training and start working. His whole life had essentially been academic training up until that point. I ended up leaving for a much higher paying job a few months later. I ran into him at a bar around then and he was doing nothing, living comfortably off handouts from his parents. He did a lot better than me in his academic career, and probably worked a lot harder... but that didn't translate to working hard in his working career.