Mo’Money Mo’Problems: Why A High Salary Does Not Mean More Happiness

by Solange Lopes | Jan 6, 2014 | Career

Mo’Money Mo’ Problems – Photo: drawception.com

In this New Year, many of us are seeking opportunities for advancement, whether it be in the form of promotions, salary increases or some other forms of increased compensation involving more often than not…money! With the cost of living rising, our own financial planning sometimes failing to deliver against heavy personal and societal expectations, money tends to be at times the compass with which we measure our professional success. The more money, the better, right? The higher the compensation, the better the financial perks, the more we tend to think we’ve arrived. Yet, we often omit the fact that with higher salaries may come unwelcome added pressure on many different fronts…As the popular saying goes, “mo’money, mo’problems”, right? So as you’re interviewing for this apparently stellar position with an equally stellar compensation package, or considering a change in careers based primarily (and at times solely) on dollar signs, or even just start allowing this insidious professional doubt to seep into your head as you’re eyeing your manager’s salary (and perks), you may want to think again….

• Go Into A Career that Makes YOU Happy! It sounds oh so cliche, but it is oh so true! Despite your mama’s convincing arguments about why you should definitely become a lawyer, you may want to ask YOURSELF the question as to what career path really makes YOU happy and fulfilled. And while this seemingly simple question may take you a few years (and a few careers) to answer, it will be well worth it in the end…And don’t bother asking lawyers around you if they are happy, as many will probably tell you they are (after all, we all have a vested interest in believing that we are happy)…
• Put a Value on Those Things that Do Not Appear to Have Any…like your time, or energy level, or motivation! Regardless of what is being said, a job, even the least desirable among jobs, is still a job! And it still requires a considerable investment in time, energy and motivation, and those may or may not have more value than the actual monetary compensation you are getting! So even if your current career is not paying you all the money you wish it did, consider the other stuff you’re getting, add it to the equation, and compare the total to that other job you’re eyeing just because it would allow you an extra vacation…Just sayin’…
• Last but not least, carefully consider the CONS: As attractive as a larger paycheck may appear, it may also make room for a larger money pit. Ever heard of the saying, “the more money you have, the more money you spend!”….Could not be truer in these times and in this economy! Between keeping up with the Joneses, keeping up with the economy, we may not even be able to keep up with our own bank accounts. And in between a higher salary for a job that does not motivate us, and a moderate yet livable pay for a career we are truly invested in, the cons are heavier on one side than the other…unless you want to be that middle age burnt out lawyer who ditches her high-paying job out of sheer unhappiness and exhaustion, with tons of debt to boot…Just Sayin’….

Does a higher salary mean more happiness to you?

The Corporate Sister,