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According to a new research by Professor Eduardo Perez Asenjo, Universidad Carlos III de Madrid - Oficina de Informacion Cientifica, it is not just your own salary that affects your happiness, but also that of your colleagues! Happiness at work depends on you earning a better salary than your colleagues.
The study showed that relative earnings affect our happiness and our job performance.
In his analysis, Asenjo also found that if an individual will work more hours if his earnings are less than those of his peers. "The most likely explanation lies in social comparisons, although it could also be due to the idea that if those around me earn more than I do, it might indicate that if I work hard I will end up earning as much as they do," explained Asenjo.
"Therefore, the effect of others' earnings on my happiness is negative, because I compare myself to them and it makes me unhappy to earn less than them; so I work more hours so that I can earn the same as or more than them," he was quoted.
"It might be a relevant criterion to keep in mind, when setting salaries, that an employee is concerned not only with what she/he earns, but also with what those around her/him earn," he commented.
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