What does your salary have to do with your job satisfaction?

The simple answer might be „Not too much as psychological needs are far more important than money“. And according to the self-determination theory by psychologists Ryan and Deci all employees have three basic needs: Competence, autonomy and relatedness.

But McKinsey, in a large-scale study from last year, showed that highly paid employees do enjoy their jobs much better than lower paid ones: What is here the cause and what is the effect?

Well, it goes without saying that the aforementioned psychological needs are typically easier to satisfy in jobs that require high competencies, acting autonomously and relating to a broad network – and these jobs mostly come with higher salaries.

Conversely, highly paid managers can and should address these needs of their lower paid team members as emotionally satisfied employees deliver better results. And it is not difficult to do so: Recognize and appreciate their work, adjust team culture and create initiatives to make your team members feel more masterful – stay healthy and confident … 🙂