How Much Money Do You Need to Make, in Order to Feel Like a Success?
Whoever said money doesn’t buy happiness never tried to pay their mortgage armed with only a positive attitude. Most of us need a certain amount of financial security in order to be satisfied. A recent CareerBuilder survey translates that into dollars and cents: $75,000, it turns out, is the magic number. But this doesn’t mean earning that salary will necessarily make all workers feel successful.
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In fact, the survey found that many workers can feel successful at lower income levels than the $75,000 threshold:
- 55 percent said they could feel successful at less than $70,000.
- 78 percent said that they didn’t need to earn $100,000 annually, in order to feel like a success.
- Men were twice as likely as women to need to feel that they needed to break the $100,000 ceiling.
“In many cases, success is relative to the type of work individuals do or their current career stage. Regardless of income, we found that workers tend to find success near their own salary level or in the range directly above,” says Rosemary Haefner, vice president of human resources at CareerBuilder. “This is healthy because it shows workers can derive meaning from their work at any level while still striving for that next promotion or raise.”
And it’s worth it to ask for that raise: Although only 44 percent of workers say they’ve ever asked for a raise, among those who did, 66 percent received an increase in pay. Women were less likely to ask for more money: only 38 percent of women asked for raises, compared with 49 percent of men.
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