Is beauty in the eye of the hiring manager?

I am writing this post with great trepidation - why, because NEWSWEEK Magazine recently surveyed hiring managers and job seekers about the role of beauty in the workplace. The bottom line? It pays to be good-looking. According to the report, paying attention to your looks isn't just about vanity but economic survival.

According to the NEWSWEEK article handsome men earn on average 5 percent more than their less-attractive counterparts (good-looking women earn 4 percent more). NEWSWEEK surveyed 202 corporate hiring managers, from human-resources staff to senior-level vice presidents, as well as 964 members of the public. Fifty-seven percent of hiring managers told NEWSWEEK that qualified but unattractive candidates are likely to have a harder time landing a job, while more than half advised spending as much time and money on “making sure they look attractive” as on perfecting a résumé. Read the full results of the survey here:
http://www.newsweek.com/2010/07/19/poll-how-much-is-beauty-worth-at-work.html

Is there a cultural bias here - is this only in America? In his blog oyungapala.com, Oyunga wrote about "Why good looks count". He says "beauty is a premium and the multi-billion dollar beauty industry is proof. Women will always be judged by their looks first and all else after that. Ouch! At the end of the day when someone looks good their self esteem goes up but is it fair that because you won the "dashing looks" lottery at birth you have the right to make more money than your colleague who fell out of the ugly tree. A positive image can overcome any perceived deficiencies in the looks department. A positive image can transmit confidence, competence, reassurance and responsibility. It is important to realise our strengths and weaknesses, so that we can maximise the positive and minimise the negative.