Being Happy With Your Paycheck Isn't Just About How Big It Is

The key to pay satisfaction is a bigger salary, right? Not exactly.

- Katie Mogg

A majority of workers feel they’re fairly paid, but at the top of the list are independent workers across all industries, according to a recent survey of 2,500 American workers. The findings suggest that while earning what you think you’re worth is important, so is having some power over when and how much you work for the money.

About three-quarters of independent workers, freelancers and consultants surveyed by payroll-services provider ADP earlier this year said they felt they were paid fairly, compared with 70% of part-time employees and 68% of full-time staffers. Whether freelancers are earning less or around the same amount, the time saved by being their own boss is a big part of why they’re happy, compensation and negotiating experts say.

There are trade-offs that come with being a worker-for-hire—especially for gig workers who earn low, hourly wages and lack a stable income and employer-paid health insurance. But for a lot of professional freelancers, having flexibility “means a more sustainable schedule and, for many people, a healthier lifestyle," says Alexandra Carter, director of the Mediation Clinic at Columbia Law School and author of a book on pay negotiation.