5 ms·

Studies show that happiness increases proportional to salary up to USD$70,000. Beyond that dollar amount, there's no increase in happiness. Now, salary isn'

Studies show that happiness increases proportional to salary up to USD$70,000. Beyond that dollar amount, there's no increase in happiness. Now, salary isn't necessarily predictive of "success," (as per your question...) so the above fact may not necessarily be relevant... but I present it for what it's worth. EDIT: I haven't evaluated the study I cited (perhaps erroneously) as fact. But I'll leave this comment here for it to be evaluated.

dsacco 9y ago
I really wish this would stop getting spread as much as it is without any qualification to it. > Studies show that happiness increases proportional to salary up to USD$70,000. One study shows this, and it's this one[1]. The study was conducted using polled responses, and discriminates between "happiness" and "lifetime satisfaction." In particular, the study has the following conclusions: 1. money and happiness are positively correlated up to $75,000, but are then uncorrelated, 2. money is positively correlated with lifetime satisfaction, without any particular point at which the correlation ceases, and 3. more money is not positively correlated with less happiness at any point. In other words, what you said is not at all supported by the original literature. Despite the way in which this study is usually used to support an argument, more money is probably better than less money at any arbitrary amount for overall contentment, given that "lifetime satisfaction" increases arbitrarily and "happiness" (which I interpret as "good mood") doesn't decrease. _______________ 1. https://www.princeton.edu/~deaton/downloads/deaton_kahneman_high_income_improves_evaluation_August2010.pdf https://www.princeton.edu/~deaton/downloads/deaton_kahneman_...
- ryandrake 9y ago
  Also, $70,000 is meaningless unless you specify your location. There are places in the world where you can live like absolute royalty on $70k/year. There are places where $70K will get you an extremely comfortable life with no need to budget. There are places where $70K is solidly working/middle class. And there are places where $70K qualifies you as low income.
rifung 9y ago
I think it's a bit more nuanced than that https://scholar.harvard.edu/files/danielgilbert/files/if-money-doesnt-make-you-happy.nov-12-20101.pdf https://scholar.harvard.edu/files/danielgilbert/files/if-mon...
adangert 9y ago
Well I believe the study said it was diminishing returns after 70k rather than no more happiness

dsacco 9y ago

I really wish this would stop getting spread as much as it is without any qualification to it. > Studies show that happiness increases proportional to salary up to USD$70,000. One study shows this, and it's this one[1]. The study was conducted using polled responses, and discriminates between "happiness" and "lifetime satisfaction." In particular, the study has the following conclusions: 1. money and happiness are positively correlated up to $75,000, but are then uncorrelated, 2. money is positively correlated with lifetime satisfaction, without any particular point at which the correlation ceases, and 3. more money is not positively correlated with less happiness at any point. In other words, what you said is not at all supported by the original literature. Despite the way in which this study is usually used to support an argument, more money is probably better than less money at any arbitrary amount for overall contentment, given that "lifetime satisfaction" increases arbitrarily and "happiness" (which I interpret as "good mood") doesn't decrease. _______________ 1. https://www.princeton.edu/~deaton/downloads/deaton_kahneman_high_income_improves_evaluation_August2010.pdf https://www.princeton.edu/~deaton/downloads/deaton_kahneman_...

ryandrake 9y ago
Also, $70,000 is meaningless unless you specify your location. There are places in the world where you can live like absolute royalty on $70k/year. There are places where $70K will get you an extremely comfortable life with no need to budget. There are places where $70K is solidly working/middle class. And there are places where $70K qualifies you as low income.

rifung 9y ago

I think it's a bit more nuanced than that https://scholar.harvard.edu/files/danielgilbert/files/if-money-doesnt-make-you-happy.nov-12-20101.pdf https://scholar.harvard.edu/files/danielgilbert/files/if-mon...

adangert 9y ago

Well I believe the study said it was diminishing returns after 70k rather than no more happiness