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Is High Salary More Important Than Job Satisfaction?

The importance of a high salary varies from person to person.

Although most people seek careers that offer meaningful work and enjoyable surroundings, the fact is that the main factor in many people's jobs is the money that they are paid to do them. After all, if work was so enjoyable that people would do it for free, it's unlikely that anyone would pay them to do it.

Money

Most people require money to live, and most people get the money they need by working. What constitutes "high pay," however, is open to debate. While some people would prefer to work at an enjoyable job for less money, others will always take the position that offers more money. Which is more important depends entirely on the priorities of the individual

Fulfillment

A select percentage of people find true fulfillment in the jobs that they do for money, while the rest simply do them for the money and find their fulfillment in activities outside of work. As with money, how important fulfillment is in the context of a job depends largely on the priorities of the individual. While some people are able to simply shut down their own preferences and do what needs to be done to make money, others put great effort into developing careers that they see as significant, meaningful and fulfilling on a personal level.

Why Is Salary Important?


One motivational challenge of straight-salary is that employees get used to it.

Salary is important in the most basic sense -- the vast majority of people wouldn't do their jobs if they weren't paid for it. Fair salary for the particular work required is also important. Two standard human psychology theories from Abraham Maslow and Frank Herzberg explain why salary is critical in keeping employees satisfied at work.

Salary more important than job satisfaction, say UK workers


11/08/2011 Workers in the UK say that higher pay and benefits are more important to them than job satisfaction when it comes to switching jobs. According to a new survey by the Chartered Institute of Personnel and Development (CIPD), workers have become increasingly concerned with compensation from their jobs as they try to maintain their standards of living. The survey quizzed 2000 people in the UK. More than half of those (54%) said that the main motivation regarding recruitment was better pay and benefits. Job satisfaction came second on the list, with 42% of those questioned saying that was their main reason to move in their careers.

According to a recent survey by JobsCentral Malaysia, the average urban Malaysian employee considers his or her salary to be the most important aspect of their working life, even beyond career advancement opportunities and intellectually-stimulating work. The survey, titled The JobsCentral 2012 Work Happiness Survey, questioned 3,194 employed citizens of the Klang Valley to rank factors of working life by perceived importance, and how satisfied they were with each of these factors in their current jobs. According to the survey results, 26.5% of respondents ranked salary as the most important determinant of satisfaction in their current workplace. This places salary as the most important factor of a job to urban Malaysian workers in 2012, giving it a ranking of 3.72 on a scale of one (most important) to 10 (least important). By contrast, when questioned on how important advancement opportunities and interesting work were in the workplace, only 12.7% of respondents indicated that they considered these factors the most important aspects of their job. The survey results show that advancement opportunities and interesting work were ranked as the second and third most important workplace factors after monthly income, the survey said.

The survey, however, added that when asked to rate their degree of satisfaction with their current salaries, respondents only gave an average satisfaction score of 5.81 (out of a maximum score of 11), placing this factor among the bottom two workplace attributes that they are least satisfied with. By contrast, older employees in senior and top management positions who responded to the survey indicated that they were most satisfied with their jobs, suggesting a growing income disparity between working Malaysians in the Klang Valley. What matters more? According to Leaderonomics chief executive officer Roshan Thiran, there are four key areas for employee satisfaction. The elements are as follows money, learning, fun and purpose. From all the research that we have done, we find that different people are motivated in different degrees by one of these four areas. Roshan says purpose ranks the most for the Gen Y employees. Purpose and fun can sometimes be misunderstood as job satisfaction. In reality, job satisfaction encompasses all four areas. Having your role aligned to your personal purpose is very important. If the organisational purpose is a powerful, noble purpose, you will also get significant satisfaction and feel a sense of satisfaction personally. Learning is very important. This is personal growth and development. It is a key part of why people stay in jobs and why they feel contented and engaged. Fun is a big part of being fulfilled. Organisations with fun culture tend to keep employees. Money is a motivator but as research has pointed out, is not the most important element for most people. Heera Training and Management Consultancy principal consultant, Heera Singh, says that in the initial stages of a career and also for those at the lower end of the

employment market (labourers, drivers, salesmen etc), salary is usually most important. For them, a job is simply a way to make ends meet. These people are willing to take any job they can find, if that job can financially support them. They don't care about whether they actually like that job or whether they will be able to be good at it. All they care about is having a steady paycheck to be able to support themselves and their family. Most will move if they can earn RM100 elsewhere, even if they do not like their jobs. For those at the middle and upper end of the employment market, the salary index will go down and the job satisfaction index will go up, generally. How high it goes up and how low it goes down depends a lot on the individual. Peoplelogy group founder and chief executive officer Allen Lee believes that in today's world, job satisfaction plays a more important consideration when it comes to finding a job, especially for the Gen Y working adults in Malaysia. You can say that Gen Y working adults are quite lucky when it comes to money. Most of their parents have already saved up some money to support themselves. Gen Y working adults do not need to carry a burden to support their families in a way. Malaysian Employers Federation executive director Shamsuddin Bardan what matters most money or job satisfaction depends very much on the generation. For the younger generation, especially those below five years of service after their graduation, they tend to (change) jobs. Sometimes, based on just RM50 to RM100 difference, they will switch. Once they have been in an organisation for five years and feel more comfortable and stable with their jobs, then they less likely to leave. Shamsuddin says the first five years of employment is considered the restless period.

The general attrition rate is 2% a month, or 24% per year, which is quite normal in the first five years. Still, at the end of the day, job satisfaction is more critical. If you have money but not happy with your job, you will move. Best of both worlds? Is it wishful thinking to hope to find a job that offers the best of both world? Heera believes that this can be difficult. This is difficult to do. However, the trend today is for companies to try to offer more benefits to employees in order for them to enjoy more job satisfaction. They cannot offer too high salaries but do try to make the work environment a little better. For example, many companies in Malaysia now offer benefits which were unheard of 10 years ago, such as gymnasiums, life style cafeterias and transportation to and from work. The objective is for employees to get indirect job satisfaction. Obviously, if you offer all these but they have a job that they do not like or a boss they cannot get along with, then all those benefits will not have any effect at all. Roshan, meanwhile, is more optimistic about people finding the perfect job that offers both job satisfaction and a high-paying salary. Yes, almost definitely. Again, if the choice is between money and purpose, some would opt for money while some would opt for purpose. However, if it's between fun, purpose and learning versus money, almost everyone would opt for fun, purpose and money. Lee, meanwhile, believes that it's up to the individual to find a balance. There is always a certain basic level of salary needed to keep a person comfortable in a job, anything less than that will cause dissatisfaction. Nevertheless, it is possible to achieve the right balance between both.

Each one of us have different ways to achieve the right balance. The right way to balance both elements is to achieve a comfortable salary based on their values, priorities, family obligations and their spending habits.
Topic: Some people argue that it is more important to have an enjoyable job than to earn a lot of money. Others disagree and think that a good salary leads to a better life. Discuss both these views and give your own opinion.

It is undoubtedly true that money is integral part of our modern lives. Therefore, some believe that high salary is the most important thing in their job. Others are of the opinion that people should work at jobs which is in their favorite. Each of views has its own merits. There are plausible reasons why many people look for jobs offering high salary. First of all, the fact remains that life is easier for those who have a plenty of money as they can do everything what they want, and do not have to think about whether they can afford it or not. No doubt, well paid job enable people to live in luxury house with all modern conveniences, to own the latest car, as well as cutting-edge machines which help housewives save amount of time and reduce physical effort. By this way, good salary possibly increases the quality of life. Due to earning large sum of money, my prosperous neighbor, for example, usually have an expensive holiday, eat in classy restaurant, and have ability to send their children to international school. However such job deprives the father of time for his family, meaning his children rarely see him. There are also strong reasons why others appreciate a work they enjoy. These people claim that money does not bring happiness, whereas enjoyable job not only makes your life happier, but also help you earn high earning in the near future. This due to the fact that you will find something interesting in your job that might seem dull and boring to others. As a result, you inevitably devote yourself heart and soul to your work, leading to you soon enhance the level of performance to get perfect result. As well as this, it highly likely that such job brings emotional satisfaction to worker and contribute to the development of company. It is reasonable to say that your boss will respect you, paying you higher salary, giving higher position.
Firstly well look at the advantages of these high paying jobs:

Remuneration :

Every one of us is attracted to this word Remuneration when we start our professional life. This minimum salary in India is up to 600,000 to 800,000 per year if you have secured a Degree or a Master Degree from a highly qualified and A grade institutions in the above mentioned job categories. But you must remember the fact that you can be successful in any particular career only when you have the ability to serve the people in a better way.

Can be a Respectable Professional :

Well, this is a common factor that a professional can be successful in his or her career only when he can gain respect from others. And that respect can be gained by the help of unbiased service that they provide to their people. When you are respected by others automatically you can gain the power and prestige in the respective field. If you are a doctor or an engineer, you are appreciated for the excellent work and for the great service to the society.

Job Security:

In these professions mentioned before, the job security is confirmed because the demand graph is up for all the fields at present in India. Most of the recruiters are hiring more and more engineers and MBA Graduates across the country. These jobs also offer employment security. In America today, I'm not sure it's even possible for most people to have job satisfaction. Companies are always re-organizing, down-sizing, out-sourcing, eliminating, and trying to find ways to do their business with fewer employees. Most Americans seem to think their jobs are a source of income, a necessary evil, and very little else. Taking an extreme example of a daily wages worker whose prime concern is to ensure daily bread for his dependents. What is important for him - job satisfaction or good pay? Ask this person and he will say good pay. And he say this because he does not have time to actually think on this question. His mind is too occupied to think about earning money. The drive for job satisfaction will lead to job hopping or frequent changing jobs. With the economic downturn, one cannot be choosy as to fulfill ones passion as food needs to put on the tables, utility bills, mortgages, car loans have to be paid. Not to mention unforeseen expenses such as medical bills. WHEN ONE WORKS IN ORDER TO GET MONEY TO INCUR DAILY EXPENSES, GOOD PAY IS THE TOP PRIORTY. Striving to get a high paid job will motivate person to better oneself- further education , better qualification If one is satisfied with job, will be in a comfort zone. No necessity to better oneself.

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