Money matters but job satisfaction trumps salary: survey
It’s an issue that tugs at many of us: the tradeoff between a satisfying job and a satisfying pay cheque.
Although most Canadians (82%) work to live, rather than live to work, two thirds of them don’t consider a good salary to be more important than enjoying their work, according to Randstad Canada’s latest Global Workmonitor, a survey of employees in 32 countries around the world.
Would you take a really boring job if it paid well? Or are you the type of person to stay in a job that stimulates you even if the money is bad? What’s the trade-off between a satisfying job and a satisfying pay cheque?
“For some people, it’s being able to earn a wage that keeps them going to work every day,” says Randstad Canada’s Stacy Parker. “While others take into consideration factors such as a good working environment, perks, flexible working hours, co-operative colleagues and job satisfaction.”
“Undoubtedly a high salary results in a better standard of living, but considering that workers spend most of their hours at work, often this isn’t enough to keep them happy,” she adds.
In many ways, achieving the right balance depends on one’s priorities, family obligations and spending habits. But where's the sweet spot?
According to another recent study, there is something of a magic number when it comes to income and happiness. Beyond household income of $75,000 a year (roughly the average in Canada), money “does nothing for happiness, enjoyment, sadness or stress,” the study suggests.
This means the more people earn, the more their job satisfaction increases, until they hit that number at least. After that, it’s just more of the same and there's little gain in job satisfaction.
Which means most to you? Job satisfaction or a large pay packet? Where's the cutoff? Have you ever had both?
By Gordon Powers, MSN Money
Posted by: Bill | Jul 4, 2021 7:32:29 PM
I have had both for some time now, but didn't at one point in my career. Earlier, I had a joib I liked (and still have), but the knowledge that I was underpaid ate away at me so much that it didn't matter how great the job was. That changed when my company learned that I was being offered a job at another company. I suppose if the condition were reversed, would hating my job outweigh a super high pay? Hard to say without actually experiencing it, but my guess would be that it would be just as bad.
Posted by: Ross | Jul 4, 2021 7:52:25 PM
There comes a time when money doesn't mean what it used to. Happiness in a job means more than the pay check. Mind you the pay check is nice too
Conan the Barbarian (1982)
King Osric: There comes a time, thief, when the jewels cease to sparkle, when the gold loses its luster, when the throne room becomes a prison, and all that is left is a father's love for his child.
.
Posted by: TDog | Jul 5, 2021 1:08:47 AM
I worked hard upgrading my skills to get a job where I could make more money. I eventually had 2 different job offers where I would make way more money, but ultimately I turned them down because it would have meant more time away from my family. Of course I'm already past the $75k threshold. That's why I don't get mad at the 1% and can't side with any wall street protesters - with the exception of some notable sex-tape Hiltons and Sam Walton's descendants etc. most of the 1% work/worked like dogs to get what they have. I'll settle for living a nice North American life and being in the top 1% globally, but still knowing what grade my kids are in. It's definitely about more than just the money.
Of course, a private jet would be nice to take my unknown kids to Disneyland in. Hmmm.....
Posted by: Frank | Jul 5, 2021 8:42:52 AM
When we were young we chased money. As we got older and our skill levels increased the need for job satisfaction began to take over. Thank God we were working in challenging jobs. A person must find something that wakes you up and makes you think or the work place could be tough.
Posted by: KAP | Jul 5, 2021 9:58:05 AM
Every job is different and every one has different wants in life. But in the end money trumps them all. I'm sure 90% of people would take a job that pays an extra 25% if they were ensured they didn't have to work more but the work environment wasn't as nice. Money is the only reason people work, don't fool yourselves. Sure if a job offered an increase of 5% most won't take it if the conditions were worse, why would they. It's all about the level of pay compared to the conditions you work in. At some point MONEY always wins out.
Posted by: C | Jul 5, 2021 10:16:43 AM
Job satisfaction plays a big role for me. I took a job that payed a starting salery substantially lower than what I could have made but I was also aware that as my experience grew so would my salary, and the company offers a great deal of flexibility. So while I could not work at a company that did not care about the needs of their employees, I also could not stay at a company where there was no potential to increase my salary no matter how hard I worked. I have moved up the company pay scale, but I worked very hard for it. The company has recognized my hard work by giving me both money and flexibility (telecommuting, fexible hours). So in the end I think there has to be a balance, so much of your life is spent at work that a good work environment is important, but you also need to make enough to live comfortabley.
Posted by: carl | Jul 5, 2021 12:46:57 PM
I disagree with TDog, there are a few of the 1% that worked hard in our area but the rest of it is silver spoon babies that have a disdainful attitude toward the common man and in fact have some mental problem understanding they are not entitled to special treatment. Case in point, the other day a group wanted the masts put in their sailboats, so it was agreed that a certain amount of time was allotted to each person to get their masts in because the large boom truck is expensive. This one doctor who knew the parameters thought that because he had nothing but 50's that it should only cost him 50 instead of the 55 that was allotted to him. He was quite put out that he had to go up the road to get the extra 5 bucks. Yes there those in the 1 percent who deserve everything they have BUT there are many more that have used political, legal and unethical business practices to get what they have at the cost of the ordinary Joe. They strut around as if they're gods when in reality most of them are just criminals that got away with it
Posted by: Ross | Jul 5, 2021 6:09:30 PM
Carl, the old saying it's not what you know it's who you know has some truth to it.
Posted by: Frank | Jul 6, 2021 9:24:40 AM
"They strut around as if they're gods when in reality most of them are just criminals that got away with it"
Carl:
Very broad statement. The Doc is just a "Cheap Skate". He most likely comes from a very humble background and could have dropped $55 with a $45 tip to the hoist operator and saved himself the walk but he is the kind who leaves 10% at the restaurant thinking he's a big spender. Why is the 99% so concerned with the 1%? The bell curve of life applies to the 1% just as it applies to the 99%. There are criminals in all walks of life. Beware!!!