Don’t envy your boss if he is getting a whopping pay packet. A new study says that having a boss who is on a large salary actually makes junior employees happy.
In fact,young employees feel encouraged — rather than envious — when they hear about senior colleagues on higher salaries; those further down the career ladder feel happier in the knowledge that they might one day earn the same.
However,economists at the University of St Andrews said the trend only applies to workers under 45,because employees passed that age might feel they have missed the chance to progress in their industry,the ‘Daily Mail’ reported.
For those above that age,working with employees who bring home bigger pay packets actually damages self-esteem and life satisfaction,according to the study based on a household survey in Germany.
“This research provides a more nuanced picture of relative income effects on happiness,” co-author Professor Felix FitzRoy was quoted as saying.
The research shows a negative effect only among older workers,who can often foresee their lifetime income and have fewer career options. Those who have retired are far less worried about income comparison as this is replaced by concerns about their age and health,the study found.
The report was recently presented at the Royal Economic Society Conference in Cambridge.