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Pay Matters More

ALEXANDRIA , Va. - A new survey finds that compensation may count more when it comes to job satisfaction than previously believed. According to the Society for Human Resource Management and CNNfn's "Job Satisfaction Series: Job Compensation/Pay Survey" employees over age 56 reported that compensation plays a bigger role in...

By Staff Writer | Updated on February 24, 2004

ALEXANDRIA , Va. – A new survey finds that compensation may count more when it comes to job satisfaction than previously believed. According to the Society for Human Resource Management and CNNfn’s “Job Satisfaction Series: Job Compensation/Pay Survey” employees over age 56 reported that compensation plays a bigger role in their overall job satisfaction than those under 35 years old. Generation X and Y base job satisfaction more on work/life issues, communication between management and employees and career advancement opportunities than on compensation. Overall only 45% of employees agree that their organization’s pay policy is fair. In addition, 27% feel that base pay does not fairly represent their contributions compared to other employees. The survey also suggests communication about pay and designing policies that employees feel are fair compared to their contributions to the organization can impact job satisfaction.

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