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Satisfaction with job and income among older individuals across European countries

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  • Bonsang, E.D.M.

    (Macro, International & Labour Economics, Research Centre for Educ and Labour Mark)

  • van Soest, A.

    (Externe publicaties SBE)

Abstract

Using data on individuals of age 50 and older from 11 European countries, we analyze two economic aspects of subjective well-being of older Europeans: satisfaction with household income, and job satisfaction. Both have been shown to contribute substantially to overall well-being (satisfaction with life or happiness). We use anchoring vignettes to correct for potential differences in response scales across countries. The results highlight a large variation in self-reported income satisfaction, which is partly explained by differences in response scales. When differences in response scales are eliminated, the cross country differences are quite well in line with differences in an objective measure of purchasing power of household income. There are common features in the response scale differences in job satisfaction and income satisfaction. French respondents tend to be critical in both assessments, while Danish and Dutch respondents are always on the optimistic end of the spectrum. Moreover, correcting for response scale differences decreases the cross-country association between satisfaction with income and job satisfaction among workers.
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  • Bonsang, E.D.M. & van Soest, A., 2010. "Satisfaction with job and income among older individuals across European countries," Research Memorandum 059, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    • Handle: RePEc:unm:umamet:2010059
    DOI: 10.26481/umamet.2010059
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    1. Arie Kapteyn & James P. Smith & Arthur Van Soest, 2013. "Are A mericans Really Less Happy with Their Incomes?," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 59(1), pages 44-65, March.
    2. Ricardo Pagan & Miguel Ángel Malo, 2021. "Performance Appraisal and Job Satisfaction for Workers Without and With Disabilities by Gender," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 153(3), pages 1011-1039, February.
    3. Andrew E. Clark, 2011. "The Organisational Commitment of Workers in OECD Countries," management revue. Socio-economic Studies, Rainer Hampp Verlag, vol. 22(1), pages 8-27.
    4. Eugenio Proto & Aldo Rustichini, 2013. "A Reassessment of the Relationship between GDP and Life Satisfaction," PLOS ONE, Public Library of Science, vol. 8(11), pages 1-10, November.
    5. Kaiser, Caspar, 2022. "Using memories to assess the intrapersonal comparability of wellbeing reports," Journal of Economic Behavior & Organization, Elsevier, vol. 193(C), pages 410-442.
    6. Bertoni, Marco, 2015. "Hungry today, unhappy tomorrow? Childhood hunger and subjective wellbeing later in life," Journal of Health Economics, Elsevier, vol. 40(C), pages 40-53.
    7. Nicolas Sirven & Thomas Barnay, 2017. "Expectations, loss aversion and retirement decisions in the context of the 2009 crisis in Europe," International Journal of Manpower, Emerald Group Publishing Limited, vol. 38(1), pages 25-44, April.
    8. Richard A. Burns, 2019. "The Utility of Between-Nation Subjective Wellbeing Comparisons Amongst Nations Within the European Social Survey," Journal of Happiness Studies, Springer, vol. 20(3), pages 683-705, March.
    9. Zhiyong Huang & Haoxian Wang & Wenyuan Zheng, 2021. "An extended hierarchical ordered probit model robust to heteroskedastic vignette perceptions with an application to functional limitation assessment," PLOS ONE, Public Library of Science, vol. 16(3), pages 1-19, March.
    10. R. A. Burns, 2020. "Age-Related Differences in the Factor Structure of Multiple Wellbeing Indicators in a Large Multinational European Survey," Journal of Happiness Studies, Springer, vol. 21(1), pages 37-52, January.
    11. Lieze Sohier & Bart Defloor & Luc Van Ootegem & Elsy Verhofstadt, 2022. "Determinants of the Willingness to Retire of Older Workers in Europe," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 164(3), pages 1017-1041, December.
    12. Stavros A. Drakopoulos, 2020. "Pay Level Comparisons in Job Satisfaction Research and Mainstream Economic Methodology," Journal of Happiness Studies, Springer, vol. 21(3), pages 825-842, March.
    13. Martina Celidoni & Vincenzo Rebba, 2017. "Healthier lifestyles after retirement in Europe? Evidence from SHARE," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 18(7), pages 805-830, September.
    14. Romina Gambacorta & Maria Iannario, 2013. "Measuring Job Satisfaction with CUB Models," LABOUR, CEIS, vol. 27(2), pages 198-224, June.
    15. Drakopoulos, Stavros A. & Grimani, Katerina, 2015. "The Effect of Pay Cuts on Psychological Well-Being and Job Satisfaction," MPRA Paper 61195, University Library of Munich, Germany.
    16. Astrid Kemperman & Pauline van den Berg & Minou Weijs-Perrée & Kevin Uijtdewillegen, 2019. "Loneliness of Older Adults: Social Network and the Living Environment," IJERPH, MDPI, vol. 16(3), pages 1-16, January.
    17. Arie Kapteyn & James P. Smith & Arthur Van Soest, 2013. "Are A mericans Really Less Happy with Their Incomes?," Review of Income and Wealth, International Association for Research in Income and Wealth, pages 44-65.
    18. Molina, Teresa, 2017. "Adjusting for heterogeneous response thresholds in cross-country comparisons of self-reported health," The Journal of the Economics of Ageing, Elsevier, vol. 10(C), pages 1-20.
    19. Bert Van Landeghem, 2012. "Panel Conditioning and Self-Reported Satisfaction: Evidence from International Panel Data and Repeated Cross-Sections," SOEPpapers on Multidisciplinary Panel Data Research 484, DIW Berlin, The German Socio-Economic Panel (SOEP).

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