Question: what's more important money or happiness? Over the summer, I traded about $25,000 a year of income (and gave up a benefits package worth more than that) for a "better fit" job. It's still a high responsibility, high-stress, long-hours job, but one aligned better with my biases, beliefs, and strengths. We are certainly making some lifestyle adjustments to compensate. (My timing is not that great on this--a son starting college, and me still in the middle of a doctoral program--with big tuition bills every few months).
Well, I remain above the threshold described by Kahneman and Deaton (2010), at which positive impact on emotional well-being ceases to accrue with income increase. While more money might increase my subjective self-rating of life satisfaction, according to that study at least, it won't make me any happier.
I'll tell you what: having autonomy in leadership (e.g., the license--indeed the expectation--to employ my own good judgment in decisions that impact my organization), enjoying the expressed appreciation of my publics--my bosses, my staff, parents and students in my school, feeling a part of a worthy and worthwhile mission, and feeling genuinely and positively impactful is worth trading some net pay for, in my book.
So is being closer to extended family. As only children, my wife and I are enjoying being 5300 miles closer to our parents these days. As parents ourselves, we are enjoying being in the same country, and same state, as our college freshman. That was part of them if trade as well.
There were some, in my prior work organization, many, in fact, who stayed on, for the wrong reasons. They called the sum compensation package the "golden handcuffs." I do understand what they meant. While I wish all my former colleagues (those who feel shackled and those who are loving every minute, and all those in between) the very best in their endeavors, I am glad to have taken the leap of faith I did, and escaped wearing those handcuffs. I am glad I was there, when I was, and I am glad I left when it was time for me to leave.
In my work, in my faith life, and in my physical location, I have come home. And it is good to be home.
Yeah, and here is an APA citation of the study I referenced, a symptom of dissertation-related compulsion. I know. You don't have to do that in a blog.
Khaneman, D., & Deaton, A. (2010). High income improves evaluation of life but not emotional well being. Proceedings of the National Academy of Sciences of the United States of America (107)38, 16489-16493.
