A higher income can improve one’s perceived self-worth, according to various studies. Researchers from the City, University of London found that comparing salaries with colleagues can even cause physical pain. Additionally, it is known that income and self-worth correlate, but it is unclear whether people with high self-worth earn more or if a high income leads to a good self-worth. To answer this question, researchers from the University of Zurich conducted a study analyzing data from 4,100 adults in the Netherlands. The study found a small correlation between income and self-worth, but it was proven that a higher income leads to an improvement in self-worth. This correlation was observed in both men and women, young and old adults, and those with and without a university degree.
The researchers noted that the identified correlation is not solely due to selection effects, such as people with high self-worth pursuing better-paying jobs. Instead, the data shows that income influences social status, which in turn positively affects self-worth. However, the role of income may vary in different cultures, particularly in countries with different levels of education and wealth. The researchers also emphasized the need for long-term studies to assess the durability of these effects.
Overall, the study highlights the importance of income in shaping one’s self-worth and social status. While the correlation may be small, it is significant enough to warrant further investigation.
