The determinants of job satisfaction

The objective of our research is to explore the effect of wage changes on employee job satisfaction. We observe an anticipation effect and positive, but declining effects on job satisfaction four years after the wage increase. Moreover, we find that an additional increase in job satisfaction is obtained when the individuals’ wage changes exceed the average wage changes for their reference group.

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Diriwächter, Patric; Shvartsman, Elena (2018): The anticipation and adaptation effects of intra- and interpersonal wage changes on job satisfaction.Journal of Economic Behavior and Organization 146: 116-140.