Researchers from a Swiss university explored how income relates to self-confidence, revealing that earning more can boost ambition, but high self-esteem alone does not guarantee a higher salary. The findings appeared in a peer-reviewed psychology journal focusing on behavioral science.
To unpack the link between earnings and self-worth, psychologists analyzed results from an online survey of over 4,000 adults in the Netherlands.
Self-esteem was assessed with a standard scale known as the Rosenberg Self-Esteem Scale, while income was captured as the average monthly gross pay, adjusted to reflect inflation.
Advanced statistical methods were used to separate variations in self-esteem that come from differences between people from how income differs across individuals.
For the first time, researchers observed a notable positive association between income and self-esteem at the interpersonal level. They reported that higher income relative to others tends to go hand in hand with elevated self-esteem compared with others’ self-esteem, aligning with earlier studies in the field.
Nonetheless, the impact of income on self-esteem proved stronger and more reliable than the reverse effect. In short, earnings are more likely to shape self-perception than self-esteem driving earnings upward.
The study offered only modest support for self-concordance theory, which posits that individuals with strong self-esteem might seek roles aligned with their self-view and potentially command higher wages, while those with lower self-esteem could face missed opportunities for career advancement and earnings.
Further analyses indicated that the income-self-esteem link persisted regardless of whether respondents were employed, and it did not show significant variation across gender, age, or education level. In essence, the relationship held steady across diverse groups.
Researchers also examined how envy about others’ successes might color emotional responses, noting that feelings of schadenfreude can emerge when observing others fail, and considering how income dynamics influence such attitudes.