IMPACT OF INCOME ON LIFE SATISFACTION AND HAPPINESS AMONG REAL ESTATE WORKERS IN MUMBAI

Abstract

This study examines the impact of income on life satisfaction and happiness among real estate workers in Mumbai. Using a quantitative approach, a cross-sectional survey was conducted with 250 participants, capturing key variables such as income, life satisfaction, happiness, and work-related benefits. The findings reveal a significant positive correlation between income and life satisfaction, particularly at lower income levels, though the effect diminishes as income increases. Additionally, the study highlights the importance of non-monetary factors, such as family income, gender, and work benefits, in influencing happiness and life satisfaction. Women and individuals with higher family incomes reported higher levels of life satisfaction at similar income levels compared to their counterparts. Work benefits, including health insurance and recognition, also emerged as strong predictors of happiness. These results suggest that, while income is a key factor in determining life satisfaction, a holistic approach that incorporates both monetary and non-monetary rewards is essential for improving happiness among real estate workers. The study provides recommendations for real estate companies to enhance employee well-being through improved compensation packages and a supportive work environment.