It depends on the person, but I'd say character and personality are what gets a person ahead in life. Chess players with good character succeed in life.
Many social misfits are drawn to chess. These people do not know how to succeed at life. Go to any chess club and look at the older chessplayers. Are they successful in society? For the most part no. Most are badly dressed men without a wife or girlfriend. They have low-paying, menial jobs and lack social skills.
"Do chess skills translate to other areas of life?"
Yes - to getting beaten up on the playground.
Very true, but when you poke a bully in the eye with the Bishop hidden in your hand it becomes a life changing experience