Financial, Job and Health Satisfaction: A Comparative Approach on Working People

Abstract

The determinants of domain satisfactions could be differently evaluated depending on the aspect of life considered, which would lead to different implications for public policies. To test this hypothesis, using the German Socio−Economic Panel (GSOEP), we analyse the effect of different economic and non−economic factors on satisfaction with financial situation, job and health status. The main results confirm that several determinants exert different effects depending on the aspect of life that people are evaluating. For instance, household income only improves satisfaction with financial situation but it does not explain job or health satisfaction. However, those people with an active social life, who are less worried and distrustful, are more satisfied regardless of the aspect of life considered. These findings reflect the importance of studying the main determinants of the domain satisfactions using a comparative perspective to design and evaluate specific public policies, since some measures could be effective for improving satisfaction in one area of an individual’s life but not for others.