The price of happiness $75 000

Via Fin Review’s BOSS Magazine:

Money may not be the key to happiness but a certain income level can at least help you feel better…Beyond a certain point, that big pay rise will not have a long lasting effect on your happiness.  The magic income number is $US 75,000 ($77,789) according to an analysis by US economists Angus Deaton and Daniel Kahneman…They found that happiness levels increased with income up to this amount, then the effect levelled out.

They do not imply that people will not be happy with a raise…it suggests above a certain level of stable income, individuals’ emotional well being is constrained by other factors in their temperament and life circumstances”

Having turned down a job offer recently I definitely agree there are factors where money just won’t sway me.  I also never quite understood why even landscape architects, architects and planners get paid quite differently, recognising I’ve been in very fortunate positions.

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