I think this is true for most professions. Just look around you at work. You might see similarities/differences among/between groups: managers vs ICs, senior vs junior, execs vs non-execs. It's not homogenous across professions but will be idiosyncratic to your company or even to your department. There's the adage: "Dress for the job you want, not the job you have." You can liberally interpret the meaning of the word "dress" as more than just clothing.