An annual salary of about $51,000 is the tipping point — when the extra money isn't worth the sacrifice, responsibility and stress, a new study shows. Despite most wanting to earn as much as possible from their job, nine in ten believe there is a point where they would like to keep up with their current salary than to face a more hectic, stressful life after a raise. Nearly two-thirds (88%) even admitted to considering pay cuts or demotions for a richer life and to improve their work-life balance. It was also found that only one in ten believe that money cannot buy happiness.
But when it comes to priorities, being financially wealthy is only the eighth most important area of our lives. Having a happy family life is most important to us, followed by being healthy, having a good work-life balance and having a partner or being married. The fifth most important is having a good circle of friends along with being happy at work, having a well-paying job, being financially well and having an active social life. Being pretty or pretty completed the top ten.
One in ten has declined promotion because they don't think the benefits were worth it, while one in four has reduced their hours or started working part-time. And despite earning less, nearly one in ten have started working independently so they can decide for themselves what they do for a living. Others have accepted pay cuts and demotions, or taken early retirement to improve their quality of life. In fact, nine out of ten feel that a well-paying job isn't worth it if they're too busy, stressed, and unhappy or lonely to enjoy it. The researchers also found that more than half (56%) are more likely to have a low- or medium-salary job, if that ensures a rich and fulfilling life, than a stressful job that pays well. And 66 percent would rather have a job they love but don't pay well than a job they hated but pay well.
