Importance of pay on job satisfaction

Pay has been a highly debated factor as an influence on peoples’ motivation in the workplace. While pay may offer an incentive to complete tasks, it may also decrease creativity and innovation in the workplace. Regardless of the actual amount of pay a person might receive, different individuals may have different perceptions of the importance of pay. Therefore, analyzing the importance of pay is vital to understanding the approaches employers should take to increase job satisfaction among employees. To study this, we analyzed employee reviews of companies specializing in different industries, such as engineering and food. We noted the prevalence of importance of pay in their reviews, their job satisfaction rating, and their job level and industry according to the Bureau of Labor Statistics. We found that job satisfaction decreases as the importance of pay increases for 1) construction, 2) food, and 3) finance; as the importance of pay increases, job satisfaction decreases for entry level workers and experienced workers. However, while trends are suggested, there are not significant results. Analyzing the relationships between different job factors is important in predicting how to strengthen the overall satisfaction and contributing to the development of workers.