A £50,000 salary is the true price of happiness
Scientists say they have calculated the true price of happiness as £50,000. Researchers from Princeton University analysed over 450,000 responses to a quality of life study to see what makes people happy.
They found that while a persons life evaluation rose with annual income, happiness stopped rising beyond a salary of $75,000 (£50,000).
After that everyday experiences and things like family and friend relationships have more of an impact than additional cash.
Should the boffins want to test this finding, we are more than willing to put ourselves forward to accept a £100,000 salary… for purely scientific purposes you understand.
Prof Daniel Kahneman said that as income decreased from $75,000, respondents reported decreasing happiness and increasing sadness and stress.
The data suggests the pain of life’s misfortunes, including disease, divorce, and being alone, is then exacerbated by poverty.
"We find that emotional well being and life evaluation have different correlates in the circumstances of people’s lives," he wrote.
"In particular, we observe striking differences in the relationship of these aspects of well being to income.
"Beyond $75,000 higher income is neither the road to experienced happiness nor the road to the relief of unhappiness or stress, although higher income continues to improve individuals’ life evaluations."
LINKS
Princeton University
Proceedings of the National Academy of Sciences
The data suggests the pain of life’s misfortunes, including disease, divorce, and being alone, is then exacerbated by poverty.
"We find that emotional well being and life evaluation have different correlates in the circumstances of people’s lives," he wrote.
"In particular, we observe striking differences in the relationship of these aspects of well being to income.
"Beyond $75,000 higher income is neither the road to experienced happiness nor the road to the relief of unhappiness or stress, although higher income continues to improve individuals’ life evaluations."
LINKS
Princeton University
Proceedings of the National Academy of Sciences
