UAE: Will a higher salary make employees happier?
A new international study has brought to life the age-old theories regarding the relationship between money and happiness, and now it may be that income might lead to a better life satisfaction than was thought. Life in turn brings much more satisfaction when there is control over your own life, emphasized women wellness experts in UAE supporting the study.
Recent research from Wharton indicates that happiness is still on the rise with increasing income which stretches beyond the $500,000 a year salary that used to be called the satisfaction ceiling.
Matthew Killingsworth claims that in the event there is a ceiling beyond which money does not add to happiness, then that ceiling is far higher than was previously thought.
Kingdom Killingsworth carried over 33000 working adults in the US against their life and income satisfaction. He placed the US data against two parts of rich individuals examined in earlier studies – one of these included millionaires all over the world and the other consisted of people from the Forbes 400 most rich Americans.
The metrics were shocking. Clearly, individuals of much wealth reported greater happiness scores and if there were a limit beyond which money does not matter for happiness then this limit would certainly be far higher than what was previously believed.
While the research does not conclude that money leads to happiness, it adds to the growing body of data supporting a strong correlation between the two. “This demonstrates how the correlation between happiness and money is widening, even as we look at annual earnings of hundreds of thousands of dollars,” Killingsworth said. “the difference is sizable and significant”.
Wealth shapes wellbeing
Health specialists in the UAE pointed out that this research disproves the long believed notion of a ‘Satisfaction Ceiling’ and new viewpoints on the relation between prosperity and happiness.
Bushra Khan, an emotional wellbeing and transformational coach at Wellth, reconfirmed, “The bond between richness and satisfaction is much more close than ever believed, Availability of higher net worth brings an enhanced level of opportunities such as, deciding how to utilize time, pursuing one’s interests and avoiding stressors. This awareness of control increases satisfaction levels.
Such shifts in policies lead, as experts elaborated, correctly, from their cause at the lower end as such income yields a capacity to enjoy better memories from travel as well as memories that accompany learning pursuits and Areal leisure.
Khan recalled: “Money in the bank reduces anxiety, enhances well-being and affords better medical care. It provides wealth and a better conflict-free future. It relaxes anxiety, which in turn increases mental well being. Moreover, for some, the financial resources allow them to achieve a much greater level of verification, which enhances esteem and personal success.”
Life satisfaction is complex
The research may indicate that with more income, happiness steadily increases but does not infer that there are no issues money can’t cure. Life satisfaction is a multi-faceted construct and there is only so much wealth can accomplish on its own.
Shereen Abraham, an emotional wellbeing consultant at Inner Voice Consultancy, explains that the relationship between money and happiness is not straightforward. According to her, yes wealth is an important factor as it brings about happiness but in the end, its impact is instantaneous as it does not last long.
"There is always a positive feeling after receiving additional benefits such as a bonus, raise, or hitting the jackpot; however that feeling is transient. People over time tend to forget that positive feeling."
Lasting contentment however is derived from self-determination and shaping one’s environment with the help of money. "A higher income level indeed implies the possibility for more stable life and better chances in future but income is only one component contributing to holistic wellbeing of an individual person in society.”
Autonomy over the use of one’s time
Dr Kumar Ajay, practicing at Prime Medical Centre – Deira argued that it's not just the amount of money that makes people happy, but rather the lifestyle that it affords that does. “When money is utilized in certain aspects especially when the focus is on relationships, giving and the effective use of time, it can increase happiness."
"Yet happiness is quite an intricate subject. Determinants such as genes, health, relationships, leisure, even a sense of purpose probably have a higher value for wellbeing than income alone,’ the psychiatrist drew attention to a factor.
In the end, yes, the study suggests that money will lead to happiness, but experts would also like to caution that money is one of the many factors in living a happy life.
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