It’s official: higher income correlates with improved self-esteem
Research shows that higher earnings enhance self-confidence
A team of psychologists delved into the connection between financial status and self-esteem. Their inquiry was: “Does higher income lead to better self-esteem, or is it the other way around?”
Over 4,000 participants tracked their income and self-esteem throughout the study. Results showed a gradual rise in self-esteem as income increased. Moreover, higher earners tended to view themselves more positively in comparison to others. This underscores the role of self-esteem in social dynamics.
Interestingly, while income had a direct impact on self-esteem, the reverse scenario (self-esteem influencing income) was not observed. Previous research suggested that individuals with high self-esteem gravitate towards higher-paying occupations.
