The relationship between pay and job satisfaction: A meta-analysis of the literature

Whereas the motivational aspects of pay are well-documented, the notion that high pay leads to high levels of satisfaction is not without debate. The current study used meta-analysis to estimate the population correlation between pay level and measures of pay and job satisfaction. Cumulating across 115 correlations from 92 independent samples, results suggested that pay level was correlated .15 with job satisfaction and .23 with pay satisfaction. Various moderators of the relationship were investigated. Despite the popular theorizing, results suggest that pay level is only marginally related to satisfaction. Theoretical and practical implications of the results are discussed.