Income has a greater impact on the happiness of people paid by the hour than people paid by salary, according to research at Stanford and the University of Toronto. The relationship between money and happiness is stronger for people paid by the hour because they are more often reminded of how much they earn. When time is money, the linkage between how much you earn and your happiness increases. "If you are paid by the hour, you begin to see the world in terms of money and in terms of economic evaluation," said Jeffrey Pfeffer, Professor of Organizational Behavior at the Stanford Graduate School of Business. Hourly paid employees know the exact worth of each hour of work. They think about their income regularly and begin comparing the value of their time to the amount of their happiness.
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