Comparing income with peers leads to unhappiness
Comparison of income with friends and family members causes unhappiness. This has been found out by UK researchers. A study in Europe suggests that the one third of the people think the comparison of income with others is so important in life.
But those people who compare the salaries with the work colleagues seem less content. The Economic Journal has published the similar report saying poor people were most affected by this.
The researchers from Paris School of Economics have analyzed from a social survey covering 24 countries and 19,000 people across Europe. They have found that the people who compare their income with others are less happy.
The result suggests that the people who used to compare themselves with others unknowingly lower they ranked themselves on measures of standard of living and satisfaction. This causes depression among them.
There has been no huge difference in gender. That means both men and women have the same view on this comparison factor. But the comparison with work colleagues seems to be not so harmful as compared to friends has appeared to be harmful.