People paid by the hour exhibit a stronger relationship between income and happiness, according to a study published in the current issue of Personality and Social Psychology Bulletin (PSPB), the official journal of the Society for Personality and Social Psychology.
Researchers explored the relationship between income and happiness by focusing on the organizational arrangements that make the connection between time and money. They found that the way in which an employee is paid is tied to their feeling of happiness.
The researchers theorize that hourly wage-earners focus more attention on their pay than those who earn a salary. That concrete, consistent focus on the worth of the employee’s time in each paycheck influences the level of happiness the employee feels.