They say money doesn’t make you happy, but it sure does make the world go round and that’s good enough for us.
Scientists also seem to think having a large wad of cash in your back pocket goes a long way to slapping a permanent grin on your face.
Angus Deaton, 2015 Nobel Prize winner in economics, has done extensive studies into the intersection between wealth and happiness.
His 2010 study with Daniel Kahneman reveals a “happiness plateau” once someone reaches a salary of approximately £49,000 pounds.
However, while “everyday contentment” doesn’t increase after the ‘magic number’, what does increase is “life assessment” and “the thoughts that people have about their life when they think about it.”
If you’re interested to know your chances of earning that amount as a recent graduate, then prepare to be dissappointed.
They’re very low. Investment banking roles pay graduates an average of £45,000 a year, law firms are a close second, offering £40,000.
In third place is banking and finance firms which offer around £36,000 and oil and energy companies pay around £32,500. For more on this click here.
Deaton himself said in an interview with the Wall Street Journal: “Giving people more income beyond $75,000 is not going to do much for their daily mood … but it is going to make them feel they have a better life.”
We’re not so sure. If we won millions on the lottery we’d definitely be pretty chuffed at work the next day. If we came in that is…