Another reason it’s great to be the boss: You’re probably much happier than people who aren’t.
A recent Pew Research Center survey compares the happiness levels of managers versus non-managerial employees and finds bosses are more satisfied with their lives. And it’s not just the cushier paycheck: Bosses also reported greater satisfaction with their work environment and in their personal lives.
For example, 83 percent of bosses reported being “very satisfied” with their family life, compared to 74 percent of non-managers. The contrast is even more stark at the workplace: 69 percent of bosses reported high satisfaction levels with their current job, compared with only 49 percent of non-managers. (Unsurprisingly, bosses were also happier with their financial situation, with 40 percent being very satisfied compared to 28 percent of non-managers.)
Some other interesting stats: Bosses are more likely to be Republican than employees (53 percent to 37 percent). However, on other traits such as religious attribution and important factors about jobs (fulfilling work and job security for example), bosses and workers are quite similar.
The findings suggest that working your way to the top—or starting your own business, so you’re automatically “the boss”—can offer many payoffs personally and professionally. While the survey wasn’t conducted on entrepreneurs, business owners enjoy many of the same perks as corporate managers: better pay than their employees, more control over their work environment and time and greater flexibility. Other surveys have shown that business owners report higher levels of happiness than the general American workforce.
Another important takeaway from the Pew survey: It suggests that non-managerial employees aren’t nearly as happy with their jobs and personal lives and may inspire bosses to work harder to improve the workplace environment for everyone. If more than half of your employees are disgruntled or disengaged, you probably want to make some changes.
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